The rise of failures: are the number of recent high profile compulsory liquidations a result of the growing complexity of capital structures, increasing divergence in stakeholder interests, or has this always been a risk in restructuring processes.
In our April event, we welcome guest speakers Kevin Pullen, John Whiteoak, John Chetwood of Herbert Smith Freehills and Simon Lalande of Rothschild & Co to discuss an emerging theme in the market.
Should the restructuring and turnaround profession be concerned at the number of process that have ended up with the Official Receiver as the liquidator? Usually the value destroyed in such a scenario is a powerful driver for stakeholders to agree terms for an alternative restructuring. However in a number of cases, such as British Steel, Carillion and Thomas Cook, this has ultimately not prevented a court ordered winding up.
The speakers will discuss the extent to which the restructuring market may have changed such that the risk of such failures has increased, or, alternatively, whether this has always been a feature of the market. The panel will also discuss the risks and opportunities the recent spate of compulsory liquidations may present.
About the speaker/s
John is a restructuring lawyer whose practice involves advising companies in distress, lenders, co-ordinating committees of lenders, bondholders, insolvency practitioners and other stakeholders in a wide range of international and domestic restructurings.
He has over a decade of experience and has advised on restructurings involving the full range of English processes, including schemes of arrangement, company voluntary arrangements, administrations, liquidations and provisional liquidations involving across a range of sectors and frequently in the context of complex, cross-border restructurings.
John co-leads the firm's global Restructuring Insolvency and Turnaround group. John advises on a broad range of contentious insolvency matters, including cross-border disputes and pension regulatory disputes.
John acts for a blue-chip client list, including hedge funds, administrators, banks, accountants, trustees and corporates. His work involves some of the largest and most high-profile insolvency, restructuring and pensions disputes in the United Kingdom, including cases with global ramifications.
John has advised various investment banks and hedge funds on potential claims arising from failed investments in bond issues, securitisations and investments in complex financial products.
In addition, John also specialises in general commercial litigation matters, including cross-border disputes, corporate fraud and recovery, as well as complex banking and tax disputes and dispute resolution.
Kevin is a partner in the restructuring and insolvency group at Herbert Smith Freehills. He has gained extensive experience working on major restructuring and insolvency matters in both Europe and Asia over the last 20 years.
Kevin's experience includes all forms of debt reconstruction (including schemes of arrangement and CVAs) and insolvency acting for debtors, creditors and insolvency practitioners.
Simon is a director in Rothschild & Co’s debt advisory and restructuring team in London.
He has extensive experience in restructurings, recapitalisations and strategic advisory in complex transactions across sectors in multiple European jurisdictions covering company and creditor side, listed corporates and private equity companies and bonds and loans.