Debt restructuring services are in high demand in emerging markets as weak commodity prices and tough capital markets plague the markets.
Data from ThomsonReuters shows a total of $25.4 billion for completed distressed debt and bankruptcy restructuring activity in the first quarter of the year. This is a healthy 16 per cent gain from the same period in 2015.
"There is an awful lot of emerging market (restructuring business). The reasons are that first sectorally, the extractive industry, a lot of that is geographically in emerging markets. The second ingredient is access to capital especially if you happen to be in a capital intensive industry," said Martin Gudgeon, head of European Restructuring and Special Situations at PJT Partners.
Gudgeon also predicts an uptick in Ukrainian, Russian, and African corporate restructuring projects.
Read more at Reuters.