On May 22, 2012, Cravath partner Richard Levin spoke at the 2012 INSOL Regional Conference held in Miami, Florida. Rich spoke on a panel entitled “Revisiting Chapter 11, and Companies’ Creditors Arrangement Act (CCAA): Does Reorganisation Need Reform?” The evolution of the financial markets and economies in the U.S. and Canada has required continual adaptation by their insolvency systems. Panelists discussed the efficacy of the primary North American restructuring statutes, whether the statutes in place today achieve their objectives, what strengths should be preserved and what weaknesses should be addressed.