Predicaments in annual assembly covered by paper (9)
I believe the answer is:
Here is my best explanation:
'predicaments' is the definition.
(quagmire can mean a complex situation)
'annual assembly covered by paper' is the wordplay.
'annual assembly' becomes 'agm' (abbreviation for annual general meeting).
'covered by' means one lot of letters goes inside another.
'paper' becomes 'quires' (quire refers to a large amount of paper).
'agm' placed inside 'quires' is 'QUAGMIRES'.
'in' acts as a link.