Banking perspectives: distressed debt – a Trustee’s point of view

Event Details


Webinar

Global | June 09, 2020 | 17:00 - 18:00 BST

As the market continues to face extraordinary and challenging times, our focus turns towards a future likely to contain a multitude of restructurings and defaults. In the high yield market alone, commentary anticipates more than 10 percent of the high yield market defaulting in the near future, driven by the complete collapse of oil and gas prices and consumer demand. The high street, already laboring under the shadow of online retail, is struggling to survive and airlines, cruise liners, hospitality, automotive and media industries are facing extreme difficulty. These are just some of the sectors seeking to manage their distressed debt and in the coming months, they will need to take active steps to do so.

Much of this debt is governed by English and New York law (sometimes swapping between the two), and in this webinar, we focus on the trustee perspective on restructurings in New York and the UK and subsequent defaults and litigation if they do not succeed.

Our corporate trust teams in New York and London will discuss:

  • Chapter 11 and schemes of arrangement
  • How trustees in both jurisdictions should prepare
  • How trustees should manage any subsequent defaults and enforcement
  • How defaulting borrowers can use litigation as a delay or avoidance tactic and how trustees can respond

This will be an interactive webinar with an opportunity for attendees to ask questions of the panel. We will also ask participants to complete a survey of their experiences in the restructuring arena and their views on the state of the market, the results of which we will discuss during the webinar.

Moderator:

Farmida Bi, Chair, EMEA

Speakers:

Michael Godden, Head of dispute resolution and litigation, London

Marian Baldwin Fuerst, Partner, New York

Kirstin Russell, Counsel, London


Contacts