As markets become international, companies serving them have been expanding geographically. Even small- and medium-sized enterprises need an international presence today. In addition to multiplying the impact of many of the factors under discussion, global corporate rescues bring unique challenges. Perhaps most importantly the activities of a group can become subject to the incompatible insolvency rules and regulations of different countries. The internationalisation of banking and capital markets has meant that lenders may also face different local constraints, for example, in the areas of loan loss provisioning, taxation and lender liability. The impact of variations in formal rules and regulations is exacerbated by different local traditions, cultures and practices.

Although globalisation is adding to the complexity of loan workouts, it also brings many benefits. International banks are exporting best practice in this area to new countries. The adoption of variants of the London Approach in many South-east Asian countries is an example of this. Moreover, a cadre of industry professionals comprising bankers, accountants, lawyers and consultants are now working globally. Their activities are considerably improving the technical skills of local participants in loan workouts.