2010 appears to offer some hope of recovery within the financial markets and expectations are that as these markets stabilise and the banks cautiously return to lending, the wider economy will strengthen. Unemployment continues to be a cause for concern as does the level of consumer spending. As the world emerges from recession, a significant amount of restructuring activity, whether creditor instigated or company-led, remains likely, particularly as companies struggle to clean up over-leveraged balance sheets that were created during a period of casual lending practices.