Monday, 7th November
Understanding UK Schemes and Restructuring Plans, and their French and German Equivalents - An Investor Perspective
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Monday, 7th November
15:00 GMT / 16:00 CET / 10:00am EST
Please join Covenant Review and Clifford Chance for an upcoming buyside webinar, Understanding UK Schemes and Restructuring Plans, and their French and German Equivalents – An Investor Perspective.
As the European restructuring market is revving up with companies facing upcoming maturities, rising costs and challenging refinancing conditions, stressed issuers will be contemplating UK schemes of arrangement, or equivalent processes in France or Germany, as a restructuring tool when an out of court deal cannot be achieved. Covenant Review is delighted to host an expert panel of Clifford Chance partners to discuss:
- The key features of a UK Scheme, and their French and German equivalents, as a debt restructuring tool, including how they compare to Chapter 11,
- When and how potentially dissenting creditors can best challenge any threatened restructuring to improve their recoveries,
- Thoughts on whether UK Schemes will see a decline relative to the new European legislative tools, and
- Regional and cultural considerations, together with recent examples.
HEAD OF EUROPEAN RESEARCH
Jane has been practising in the European leveraged finance market for over 15 years, having worked on leveraged finance documents through differing credit cycles, including on the first “cov-lite” loans in Europe. Having previously worked as an in-house lawyer in an investment bank on syndicated leveraged financings, Jane joined Covenant Review in 2015 to commence its European loan research offering. Prior to Covenant Review, she was at DebtXplained, where she was Head of Legal. Jane is the Head of Research across the high yield bond and leveraged loan markets in Europe, provides covenant analysis on the largest top-tier sponsor deals coming to market, and represents Covenant Review on the Board of the High Yield Division of the Association for Financial Markets in Europe. Jane qualified as an English law solicitor in 2002 and as a French lawyer in 2005.
GLOBAL HEAD OF RESTRUCTURING AND INSOLVENCY
Philip Hertz has been a Partner at Clifford Chance since 2002 and is Global Head of the Restructuring and Insolvency Group. He is a member of the Association of Business Recovery Professionals, INSOL, and the Insolvency Lawyers’ Association. Philip is a past President of the Insolvency Lawyers’ Association.
Philip is the co-author of the chapter entitled “Schemes of Arrangement” in Tolley’s Insolvency Law and “Compromising Shareholder Claims both generally and in listed companies” in “The Law and Practice of Restructuring in the UK and US” as well as numerous articles on insolvency related topics. His practice involves general insolvency and restructuring work (as well as insurance run-off and insolvency work).
Delphine Caramalli is specialised in financial restructuring, insolvency proceedings and mergers and acquisitions related to reorganisation and reversal operations. She works alongside domestic and international investors, private equity funds, hedge funds and other lenders. She also advises shareholders or buyers in their restructuring or external growth operations.
Cristina Weidner leads the German Restructuring & Insolvency Team at Clifford Chance. She specialises in restructuring & insolvencies, including advice on financial and cross-border restructurings, creditor composition proceedings, contingency planning, distressed M&A transactions and going concern insolvency scenarios.