The current market conditions are characterised by a lack of current investment opportunities for special sits and growth in credit funds and non-bank lending.  

The panel will discuss: 

• The current state of the market for credit/special situation investing 

• The growth in credit funds as well as the seemingly shrinking opportunity set for deploying capital 

• Whether the pipe line is building or does the new era of low interest rates and monetary stimulus make stress a thing of the past? 

 Axsesstoday, a publicly listed SME lender, was placed in administration in April 2019.  The panel will look explore: 

• The decision to sell the business as a going concern, and the process and challenges faced in doing so 

• Issues and considerations relating to the acquisition of debt post administrators being appointed 

• The novel way in which the Deed Proponent financed the acquisition of Axsesstoday  

• Lessons learned from the administration in relation to SME lenders and future trends in the SME space. 

With market dynamics in the retail industry shifting towards online and away from bricks and mortar, retailers in Australia and abroad are experiencing difficult trading conditions, and many retailers, including major brands, have entered insolvency processes in the last couple of years.  This panel will discuss: 

• Specific issues arising in relation to restructuring retail businesses 

• Issues facing lenders and landlords with exposure to the retail market 

• Overseas experiences with restructuring retail businesses 

• The outlook for the retail industry – is it as grim as it seems? 

Administrators were appointed to Arrium in April 2016 after lenders rejected Arrium’s recapitalisation proposal. With a focus on lessons learned the panel will: 

• Revisit the period leading up to the appointment, 

• Comment upon how the administration process facilitated the sales of Arrium’s local and international businesses, and 

• Compare and contrast the return to creditors as between that offered under the recapitalisation proposal and that actually achieved 

*Agenda and speakers are subject to change