Coverage

GRR Live London: How to increase your leverage in a restructuring

photo of panel fom left to right, Mark Arnold QC, David Burison, Adam Plainer, Rebecca Jarvis and Yushan Ng

03 July 2017

Panelists at the recent GRR Live London discussed how to increase leverage in a restructuring, from encouraging directors to take a particular course of action, to making the most of gaps in the debtor's documentation.

GRR Live London: Lord Justice David Richards on court-to-court communication

Lord Justice David Richards

26 May 2017

There needs to be some "clarity of thinking" as to what communications between courts in insolvency proceedings will achieve, Lord Justice David Richards said in the keynote speech at the Second Annual GRR Live London.

GRR Live London: the English scheme - repair or replace?

L-R: Felicity Toube QC, David Ereira, Adam Plainer, Rebecca Jarvis, Joanne Holland, and Simon Granger

31 May 2017

English schemes of arrangement must adapt to avoid being left behind in a post-Brexit world, according to a panellist in a question-and-answer session at last week's GRR Live in London, who suggested that schemes have been "stretched to the limits of their tolerance" and must be replaced altogether.

Chairs

Rebecca Jarvis

Linklaters

Experience in all aspects of non-contentious reconstruction and insolvency work acting for banks, financial institutions, other creditors, corporate clients and insolvency practitioners in relation to recovery, reconstruction or distressed debt problems. Has acted on a wide range of work-outs, refinancings, receiverships and administrations and liquidations.

Adam Plainer

Weil, Gotshal & Manges

Adam has significant experience representing leading accounting firms and restructuring practices on workouts and restructurings, as well as UK clearing banks, US investment banks, hedge funds, private equity firms, and boards of directors in major corporate restructurings. Adam has led a wide range of well-known restructurings (including contingency planning) and formal insolvencies, advising boards of companies, distressed investors, senior and junior lenders, and leading insolvency practitioners. 

Keynotes

The Rt. Hon. Lord Justice David Richards

The Royal Courts of Justice

Sir David Richards was appointed a High Court Judge (Chancery Division) in 2003 and a chairman of the Competition Appeal Tribunal in 2004. He was the Chancery Supervising Judge for the Northern and North Eastern Circuits and Vice-Chancellor of the County Palatine of Lancaster from 2008 to 2011.

He was chairman of the Insolvency Rules Committee from 2005 to 2015 and is co-chair of the Judicial Committee of the International Insolvency Institute. He was elected a Bencher of Lincoln’s Inn in 2000 and is chairman of its Finance and General Purposes Committee. He is a General Editor of Buckley on the Companies Acts (14th ed.).

On 16 November 2015 he was appointed as a Lord Justice of Appeal.

Speakers

Mark Arnold QC

South Square

David Burlison

Managing Director, Restructuring Team, Lazard

John Davison

CEO, Pillarstone

David Ereira

Paul Hastings

Simon Granger

FTI Consulting

Joanne Holland

Senior Vice President, McKinsey

Yushan Ng

Cadwalader, Wickersham & Taft

Felicity Toube QC

South Square

Programme

14.00: Welcome coffee and registration

14.30: Chairs' welcome

Rebecca Jarvis, Linklaters
Adam Plainer, Weil, Gotshal & Manges

14.35: Session one - Roundtable Discussion: How to increase your leverage in a restructuring

Finding leverage in a restructuring is an art: knowing when to move, and where (and how hard) to apply pressure. Sometimes the answer is structural, sometimes it is financial, sometimes it's completely novel. But whichever, mastering the art requires a working knowledge of an ever changing legal landscape.

In this session, leading names from across the restructuring market will use real life examples to discuss the art of leverage, and along with the essential question: would those techniques still bear fruit today?

Questions they're expected to discuss include:

  • Are blocking positions becoming easier to knock down?
  • Is having an economic interest enough to vote in a scheme?
  • Can you still trade when in receipt of information during a restructuring?
  • Is the UK still the pick of the bunch, or have other jurisdictions caught up?
  • Have funds left it too late to take advantage of distressed assets in Europe? What happens to those deals in the wake of pre-insolvency reforms?

Moderators:
Rebecca Jarvis, Linklaters
Adam Plainer, Weil, Gotshal & Manges

Panel:
Mark Arnold QC, South Square
David Burlison, Managing Director, Restructuring Team, Lazard
John Davison, CEO, Pillarstone
Yushan Ng, Cadwalader, Wickersham & Taft

15.40: Coffee break

16.05: Session two - GRR Live Question Time

A unique session of free-flowing discussion, in the style of Question Time. Audience members will submit questions in advance, which will be discussed by a leading panel, and the audience alike. The session therefore offers an excellent opportunity to obtain opinions on a question that's been vexing you, or to benchmark your own approach to a particularly thorny problem against that of others. Some of the topics will tie in with the roundtable session; others will not. Questions will be distributed to the audience in advance.

Moderators:
Rebecca Jarvis, Linklaters
Adam Plainer, Weil, Gotshal & Manges

Panel:
David Ereira, Paul Hastings
Simon Granger, FTI Consulting
Joanne Holland, Senior Vice President, McKinsey
Felicity Toube QC, South Square 

17.15: Closing speech

The Rt. Hon. Lord Justice David Richards  
"Cooperation and communication between courts"

17.45: Chairs' closing remarks

Rebecca Jarvis, Linklaters
Adam Plainer, Weil, Gotshal & Manges

17.50 onwards: All delegates are invited to attend a drinks reception kindly hosted by Weil, Gotshal & Manges

Venue

110 Fetter Lane, London, EC4A 1AY, United Kingdom

Testimonials

  • "I thoroughly enjoyed the Question Time session"

  • "The quality of discussion, topic choice and freshness of material was great!"