Restructuring Day

12 OCTOBER 2017, THE WALDORF HILTON, LONDON

    • 08:30

      Registration

    • 09:15

      Welcoming Remarks

      Jou Yu
      Jou Yu
      Assistant Editor, Restructuring , Debtwire
    • 09:30

      Keynote address: The robots are coming

      We look to the future and the impact of digitalisation on traditional industries, prompting the question about how investors trade on the automation trend.

    • 10:00

      Keynote Panel: Distressed investing in the year ahead

      Against a backdrop of improved economic growth and a scaling back of QE, a panel of opportunistic credit funds will explore where value lies in European credit in the coming year. We will also challenge fund managers on sourcing opportunities after recent years of cov-lite issuance.

      David Beckett
      David Beckett
      Head of Sourcing , SC Lowy
      Kon Asimacopoulos
      Kon Asimacopoulos
      Partner , Kirkland & Ellis
      Robert  Schach
      Robert Schach
      Managing Editor - Europe , Debtwire
    • 10:45

      Networking coffee

    • 11:30

      Behind the scenes

      Overview of a recent case and specific learnings.

    • 11:45

      Business pioneer: Retail under the stormcloud

      UK retailers have been tackling currency headwinds ever since the Brexit vote. The buoyant consumer spending which followed now looks shaky, as inflation pressures begin to bite. The restructuring industry will be watching closely. This speech by an industry veteran will outline some personal views on how management teams are prepared for trading conditions in the year ahead and the impact on financing.

      Investor Q&A
      Following the presentation, we ask investors and advisors to respond in order to determine possible investment themes and entry strategies.

      Richard Hyman
      Richard Hyman
      Retail Industry Advisor
      Gavin George
      Gavin George
      CEO , Alteri Investors
      Lutz  Jade
      Lutz Jade
      Partner , Oliver Wyman
    • 12:30

      Business pioneer: Shipping

      This session will examine investment strategies around the shipping sector – assets versus portfolios. As traditional shipping lenders (those that remain) continue to retreat, where are the opportunities for non-bank financing. 

      Investor Q&A 

      Following the presentation, we ask investors and advisors to respond in order to determine possible investment themes and entry strategies.

      Marion Halftermeyer
      Marion Halftermeyer
      Reporter , Debtwire
    • 12:45

      Networking Lunch

    • 13:45

      Presentation: Agrokor

      The largest restructuring in CEEMEA – year to date, the presentation will comprise 

      • Overview of the Agrokor group and capital structure
      • Events leading up to the appointment of a Croatian extraordinary administrator
      • Motivations of the various stakeholders
      • Impacts of the ‘Lex Agrokor’ law – favouring local suppliers and local banks?
      • Reciprocal actions in other Balkan countries – what did they do to protect themselves from the fallout
      • Lessons to be learned – cautionary tale for international investors?
      Chris Haffenden
      Chris Haffenden
      Managing Editor , Acuris
    • Stream A

    • 14:30

      Keynote panel: Hunting for opportunities in distressed EM credit

      • What jurisdictions/sectors will offer the best investment opportunities for 2017
      • Where is the next restructuring wave likely to happen?
      • How has the landscape changed this year – what have we learnt?
      • Is there still value to be had, and how can this be maximised?
      Stefan  Benedetti
      Stefan Benedetti
      Portfolio Manager, Distressed and High Yield Credit , Amundi
      Martin Gudgeon
      Martin Gudgeon
      Partner , PJT Partners
      Chris Haffenden
      Chris Haffenden
      Managing Editor , Acuris
    • 15:15

      Jurisdiction Wrap

      These insights will help investors understand in more detail the landscape, opportunity and risks of local markets from fellow fund managers with deep knowledge gained on the ground.

      • 15:00 Middle East
      • 15:15 Russia & CIS
      • 15:30 Africa
      Stephen Stolliday
      Stephen Stolliday
      Head of Special Operations Unit , African Development Bank Group
      Ahmad Alani
      Ahmad Alani
      Co-founder , Sancta Capital
    • 16:00

      Networking break

    • 16:15

      International Arbitration – route to recovery, negotiating leverage for foreign creditors

      • Legal options available for foreign creditors
      • Secondary market in arbitration claims
      • Litigation funding
      • Sovereign arbitration debt insurance products
      David Graves
      David Graves
      Senior Reporter, CEEMEA Restructuring , Debtwire
    • 16:45

      Restructuring project finance: lessons learned

      This session will examine how project finance deals are structured in jurisdictions where the sovereign is not able to provide guarantees.

      The aim is to explore what are the lessons learned from previous projects that didn’t reach completion in time and deadlines for payments had to be renegotiated.

      - Structure of projects compared to five years ago

      - Restructuring framework for project financing

      Priscila Rocha
      Priscila Rocha
      Senior Reporter , Debtwire
    • Stream B

    • 14:45

      Behind the scenes: Abengoa

    • 15:15

      Towards a European Chapter 11

      This session will consider forthcoming modernisation of restructuring frameworks across the EU, in light of the draft directive published by the European Commission last year; the outlook for forum shopping (including use of the UK scheme of arrangement by foreign debtors); which European jurisdictions are hot on the heels of the UK and what action the UK is taking to ensure it remains in the driving seat post-Brexit.

      Dawn Grocock
      Dawn Grocock
      Legal Analyst , Acuris
    • 16:00

      Networking break

    • 16:30

      Tradetech

      Overview of how the secondary claims and NPL market is evolving and how e-bidding could change the landscape.

      Timur Peters
      Timur Peters
      CEO , Debitos
    • 16:45

      How will the terms of today impact the restructurings of tomorrow?

      The proliferation of cov-lite deals in European loan markets will make for an interesting landscape when the credit cycle turns. Whilst it will give borrowers more control over negotiations, the increased popularity of transferability restrictions could present a challenge for existing lenders and potential investors. The practice of blacklisting certain hedge funds even in the event of default from trading into debt could make distressed opportunities even more sparse, and this could narrow options for some distressed borrowers. We assemble a panel of industry veterans to discuss the issues and explore how funds navigate these challenges.

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