The UK scheme of arrangement will face stiff competition following Brexit and the European Commission’s directive, according to a panel of investors and lawyers at Debtwire’s Germany Forum held at Frankfurt’s Villa Kennedy on Wednesday (13 September). The panel, moderated by Latham & Watkins partner Frank Grell, considered the restructuring routes available to investors; whether the UK scheme will lose its appeal post-Brexit, and what alternative restructuring tools may be available, particularly in light of the EU harmonisation initiative.
On 7 September, Debtwire held an online discussion on Carillion plc focusing on the UK domiciled construction services company’s financial position, the challenges it faces as it deals with a changing strategy and ballooning impairments, and potential restructuring options it could use to ease its debt burden and weak earnings.
On27 July, Debtwire held an online discussion on VistaJet focusingon theMalta domiciled aviation company’s financial position, the challenges it faces as itramps up operations on a larger fleet, and the optionality it has to overcome alooming liquidity gap.
NPL investors continue to head south. Deals keep coming out of Spain and new markets, such as Portugal, Greece and Cyprus, are slowly emerging. But the real action has been in Italy, which finally has started to address its EUR 200bn bad debt mountain.