IWIRC Names Former Justice Susana Hidvegi 2022 Woman of the Year in Restructuring (WOYR)
and Suzanne Koenig as the First Inductee into the Women of Restructuring Hall of Fame
Stanardsville, VA - March 2, 2022 - The International Women's Insolvency and Restructuring Confederation (IWIRC), the premier international, networking, and professional growth organization for women in the restructuring and insolvency industry, is pleased to announce Former Justice Susana Hidvegi, Colombian Superintendence of Companies (Bogotá, Colombia) is the recipient of the 2022 Woman of the Year in Restructuring (WOYR) Award and Suzanne Koenig, president and founder of SAK Management Services LLC is the first inductee into the Women of Restructuring Hall of Fame.
Since 2006, IWIRC has awarded incredible women in the restructuring industry with the WOYR Award. The award was traditionally awarded to a woman who made significant contributions to the restructuring industry throughout her lifetime or in recent years. Every year, IWIRC receives nominations for so many remarkable women across our industry who are deserving of recognition that it established the "Women of Restructuring Hall of Fame". The Hall of Fame focuses on the accomplishments of each inductee's entire career and the WOYR Award recognizes extraordinary contributions in the previous 12-24 months.
Former Justice Hidvegi’s career is extraordinary. In December 2019 she took the oath of office, in her early 30's becoming the youngest person to be appointed Superintendent of Bankruptcy Proceedings in Colombia, and Chief Judge of the Business Bankruptcy Court of the entire country of Colombia. During her tenure, she led a team of thirteen judges and more than 100 clerks, and was the Delegate to represent the Republic of Colombia at the United Nations Commission on International Trade Law, Working Group V (Insolvency Law), and she actively participated in the session that approved the text of the draft guide to enact the model law on enterprise group insolvency. She is currently contributing to the discussions of the draft text of a simplified insolvency regime for micro, small and medium-sized enterprises. As Superintendent of Bankruptcy Proceedings, she led the drafting process for reforms to the bankruptcy regime to address the effects of the COVID-19 crisis and implemented Artificial Intelligence tools for the administration of bankruptcy proceedings. As a result, the Government of Colombia issued Decrees 560 and 772 in April and June 2020, which provided for the creation of a pre-judicial bankruptcy proceeding, the incorporation of artificial intelligence tools into bankruptcy cases, and the creation of a simplified insolvency regime for small enterprises.
One of Former Justice Susana Hidvegi's nominators shared, "She has inspired new possibilities that widen the limits of Colombian insolvency law and are changing how law firms in Colombia work: by thinking of insolvency as an interdisciplinary matter. Cross-border insolvency proceedings, distressed M&A and distressed financing are finally being exploited to their full potential in Colombia, which is possible thanks to Mrs. Hidvegi- Arango’s vision, disruptive thinking, and resolution."
Suzanne (Suzy) Koenig is the founder and President of SAK Management Services, which is a healthcare management and consulting company. She and her team manage, turnaround and restructure senior living facilities across the country. In her almost 40 years of service, Suzy has managed hundreds of senior living facilities and has served as Receiver, Chapter 11 Trustee, Examiner, Patient Care Ombudsman, healthcare consultant, Officer, Manager, and Director. Suzy has a unique ability to step into, often dire situations, to ensure that hospitals and long-term care facilities are able to provide necessary services to patients. Her hands on leadership style and ability to build instant relationships and trust is paramount to her successes on behalf of numerous facilities and thousands of patients over the course of her career. In addition, Suzy made lasting contributions to the Bankruptcy Code and the creation of Section 333 which codified the Patient Care Ombudsman – a role Suzy informally filled prior to the codification of Section 333, and formally filled thereafter by serving as the first official appointed Patient Care Ombudsman.
Suzy’s nominator highlighted, in particular, Suzy’s extraordinary commitment to her clients and her work, her perseverance, her determination, and the successes achieved this past year during the pandemic. Never wavering, Suzy was at the front lines dealing with patients and her commitment to their care was unprecedented. "Suzy went above and beyond, often risking her life for her clients, the residents, the nurses, the staff and the facility."
IWIRC Chair, Jennifer Kimble, Lowenstein Sandler, New York, stated "IWIRC is thrilled to honor and recognize two phenomenal women this year - Justice Hidvegi with the 2022 WOYR Award and Suzy Koenig with the inaugural induction into the IWIRC Hall of Fame. Justice Hidvegi’s efforts to modernize and implement new restructuring procedures in Columbia serve as inspiration to both her colleagues and IWIRC members around the globe for what women can accomplish – even very early in their careers. Suzy Koenig is not only a legend in the healthcare space but she is also viewed as a leader and mentor in the restructuring industry. She is incredibly deserving of induction into the IWIRC Hall of Fame.”
