Debtwire Asia-Pacific Distressed Debt Forum

JW Marriott Hotel
Hong Kong
9 October 2019
#DebtwireAPAC
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  • 09:00

    Registration

  • 09:20

    Opening remarks

  • 09:30

    Keynote address by The Hon Mr Justice Harris, Court of First Instance, High Court, Hong Kong

  • 10:00

    Panel discussion - Asia Pacific distressed debt market outlook

    Rising corporate debt and tepid economic conditions are raising serious red flags across Asia Pacific. These concerns come on the heels of an already tumultuous year in 2018, with Debtwire data recording US$159bn in restructured debt as growing non-performing loan (NPL) volumes create clear signs of increasing pain in the system. At the same time, opportunities are being created for distressed debt investors and restructuring professionals in numerous Asian economies as governments begin to implement regulatory reforms to improve the restructuring process.

    • What is happening to capital flows involving China and Hong Kong – and how will this change over the next 3-5 years?
    • How is the US-China trade war impacting businesses across Asia-Pacific and which industries are most vulnerable?
    • Which countries are launching regulatory reforms to update restructuring and insolvency regimes – and which have been most effective so far?

  • 11:00

    Coffee break

  • 11:20

    Panel discussion - China restructuring: Finding the hidden value

    The Chinese market continues to evolve and with it, the opportunities for international distressed debt investors. Foreign capital so far has been noticeably busy in China’s NPL space and while activity may not be as explosive as originally predicted, rising bond defaults and credit tightening may be creating new supply in need of resolution. Indeed, as market conditions worse and once positive economics begin to falter, there will be plenty of bad debt to go around for investors in search of distressed assets in China.
    This panel will include a discussion of these trends as well as answer questions such as:

    • How are private enterprises in China doing in the current environment, and which industries are suffering the most?
    • What is driving bond defaults and how will this impact the scale of supply?
    • What challenges will foreign investors face when looking for and completed distressed asset investments?

  • 12:20

    Presentation

  • 12:40

    Lunch break

  • 13:20

    Panel discussion - Spotlight India: The IBC corrects course

    Changes to India’s three-year-old corporate insolvency and bankruptcy code (IBC) are unfolding as the country tries to simplify and expedite the regime’s resolution process. The amendments could provide a catalyst to further engagement from distressed funds long sceptical of investing given the previously drawn-out and uncertainty bankruptcy process.
    This panel will include a discussion of these trends as well as answer questions such as:

    • What are the key changes happening to the IBC?
    • How active were distressed debt investor prior to these amendments – and what kind of activity will we likely see in the year ahead?
    • What have been and will continue to be the main obstacles for foreign investors considering Indian distressed assets?

  • 14:20

    Panel discussion - Creditor protection: Developments and outlook

    Corporate rescues are gaining momentum at a legislative and practical level across Asia as the trend of enforcement is increasingly questioned and accused of being value-erosive. Case studies and recent examples shed light on real experiences within light touch PLs, Singapore’s DIP proceedings and US Chapter 11 as lenders and potential investors ask: Are creditor interests adequately protected? And in what circumstances is enforcement a better option notwithstanding the risk of value-erosion?

    • How can lenders decide whether to enforce or seek an appointment?
    • Is it always the case that enforcement and/or commencement of creditor-led proceedings are value destructive? Can this be managed?
    • What are the alternatives to enforcement that also protect creditor rights?

  • 15:20

    Coffee break

  • 15:40

    Fireside chat

  • 16:00

    Panel discussion - Filling the gap: Private financing takes root in Asia

    As Asia’s banks become cautious of their lending activities due to regulatory restrictions and mounting non-performing asset pressures, private financing and debt funds are stepping in to fill the gap in corporate lending needs. While appetite for private debt has grown recently, debt investors still face challenges as they deal with competitive pressures and legal and regulatory issues in their search for yield.

    • China, India and emerging Asia – which markets hold the greatest potential for yield?
    • How can private financing and debt funds compete with the traditional lenders – and will the shift to alternative capital sources be deeply disruptive or a minor change to Asia financing landscape?
    • Which lending structures have we seen as most effective -- and which have failed to work?

  • 17:00

    Closing & cocktail reception

  • *Agenda and speakers are subject to change