Blog by Thomas Nair (LLM International Commercial Law), World Bank Group Intern in 2021
Following an interview with Professor Irit Mevorach, Dr Nara Ghazaryan, Steve Vaccarini and Nina Mocheva, I was selected for an internship within the World Bank Group’s Insolvency & Debt Resolution team. I joined the team on 7 September 2021 for a three-month-long placement. Given the current Covid-19 restrictions, I completed my placement virtually. Despite this, I felt welcomed by all members of the team who, similarly, were all working from home.
Right from the start of the placement, I was involved in many of the team’s different projects. This involved commenting on draft insolvency laws, conducting extensive research for project documentation, drafting technical notes and reports, participating in meetings with internal and external stakeholders, and creating presentations for use by other team members.
As is to be expected, the team has been extremely active since the beginning of the pandemic. Existing weaknesses embedded within many countries’ insolvency and debt resolution frameworks have been exposed. In particular, gaps in a country’s approach to micro-, small- and medium-sized enterprises (MSMEs) have merited immediate attention. The 2021 World Bank Principles for Effective Insolvency and Creditor/Debtor Regimes have been a welcome addition to the arena and were the basis for many of the projects I was involved with during my time with the team.
A remote placement does have key advantages over traditional in-person internships. I took part in several meetings with the team, consultants, and clients that would not have been possible to nearly the same extent if this placement was in-person. For example, I worked directly alongside a World Bank consultant to draft one country’s novel insolvency administrator regulations. I participated in several meetings with a representative of that country’s Ministry of Justice and tweaked drafts to reflect his requests.
Please tell us how you discovered this placement and the applications process?
The University of Nottingham Commercial Law Centre (UNCLC) advertises a great number of events and opportunities throughout the year. Among these is the World Bank internship. I first became aware of the placement through the UNCLC. In addition, Professor Mevorach, module convenor for the International Aspects of Corporate Law and Insolvency, raised this opportunity during one of our seminars.
The application process was straightforward. I submitted an up-to-date CV with details of my first-semester module results, along with a cover letter tailored to the role. I made sure to thoroughly read the placement description and demonstrate how I met each requirement for the position. In addition, I had a look at the recent work of the Insolvency & Debt Resolution team on the World Bank’s website to make sure I understood the team’s focus.
I was then selected for an interview. The interview itself was straightforward. I was asked to demonstrate my interest in insolvency in general, in addition to working at the World Bank itself. I was also asked some competency-based questions that are common to most junior legal positions. Make sure you can provide examples of occasions you’ve worked well in a team, have shown leadership, and submitted high-quality work under pressure, amongst others! I found out the day after my interview that I had been offered the position.
What did you most enjoy on placement at the World Bank and how do you feel it benefited you?
I particularly enjoyed working on a draft to update one country’s bankruptcy code. The team received the request on a Monday afternoon and had to have a first draft ready in time for the weekend before the bill’s second reading in parliament the following week! I enjoyed the challenge of producing high-quality, accurate, work under a time pressure. Of course, the team were on hand to help me with any questions and issues I came across, but I was entrusted to work quickly and independently where I needed to.
More broadly, the huge variety of work that I got involved with was a real benefit of the placement. You are expected to balance your work and manage priorities, however, the diversity of the team’s projects means you’ll always have something interesting and new to be working on. It really is a great way to broaden your academic and practical understanding of key insolvency issues.
Please give us an example of any learning or self-development whilst on placement.
On my last day with the team, I co-presented alongside my supervisor and two leading academics in a virtual workshop in Mongolia. The focus was on the benefits of out-of-court workouts as a more informal alternative to full judicial reorganisations. I had no prior knowledge of this area, but I worked hard to understand the range of informal workout mechanisms that might be preferential to those formal workout procedures involving direct court supervision.
I prepared a PowerPoint presentation in addition to talking points that my supervisor and I would use during the workshop. This was a fantastic experience to boost my presentation and public speaking skills. Attendees included many senior Mongolian stakeholders so, while nerve-racking, it was a great opportunity to hone some of the skills that will be vital in my future career.
Do you have any advice for future interns interested in careers and placements at the World Bank or in a similar field?
My first tip is simple: apply! If you have an interest in this area of the law, it is always worth submitting an application. If you’re successful, you will gain invaluable and coveted experience working in an institution that is a global standard-setter in developing principles for insolvency and restructuring frameworks. You’ll also become much more comfortable with working with colleagues who are experts in their field.
Remember, though, that if you’re interested in this area of the law, it’s important that you are familiar with trends in insolvency law and practice. Many countries have been eager to develop their insolvency and debt restructuring regimes in response to the pandemic. Make sure you understand how the World Bank has been assisting countries in their response to the pandemic by identifying the substantive issues faced by private firms during this period. If you think you’re interested in a particular area of the law, it’s important to develop and nurture this interest by being proactive in keeping up-to-date with current affairs.
If you have been selected for the placement, first of all, congratulations! Secondly remember to be proactive and engage with the whole team as much as you can, not just with your supervisor! If you have any language skills, make sure to mention these in your application! They are viewed very positively, and you will likely benefit from an opportunity to use them during your time with the team. I am fluent in Spanish and, as such, I was entrusted to work on a very complex project in Colombia. This involved reading through the many emergency legislative decrees that the Colombian government had passed in response to the pandemic. My job was to produce a first draft of a technical report summarising the key elements of Colombia’s bankruptcy system and identify areas for simplification. After translating and understanding these laws, I produced a report in English that would go on to be referenced by key stakeholders involved in the project.
Finally, enjoy the experience! It is very rewarding, and I would recommend it to anyone who has an interest in insolvency law and is considering a career in international commercial law.