The Insolvency Section participated in the annual meeting of the World Bank Insolvency and Creditor/Debtor Regimes (ICR) Task Force, held in May 2025 in Washington, D.C.

The discussions focused on the proposed amendments to the ICR Principles B3–B5, covering the enabling legislative framework for restructurings, informal workout procedures, and the regulation of risk management practices. Particular emphasis was placed on the need to ensure financial transparency, support for voluntary restructurings, and the development of codes of good practice within the financial sector.

In addition, a colloquium was held on the role of credit infrastructure in achieving climate objectives, highlighting the interlinkages between secured transactions systems, insolvency frameworks, and the development of sustainable and resilient financial markets.

The World Bank will publish the final amendments to the ICR Principles on its official website.

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