Octus Radio
Conversations With Reorg: Deep Dive Interview with Freshfields’ Restructuring Expert for Mcdermott
May 16, 2024
Guest Michael Broeders from Freshfields discusses the critical functions of restructuring experts in contested contexts, reflections on stakeholder opinions in UK restructuring, comparative analysis of jurisdictions, navigating stakeholder dynamics, and achieving fair restructuring outcomes.
39:28
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Quick takeaways
- Restructuring experts play a crucial role in contested scenarios by preventing stalemates between debtors and sponsors to avoid potential value destruction.
- Engaging in cross-border restructuring efforts requires considerations of costs, stakeholder reactions, and plan alignment to ensure creditor rights and plan viability.
Deep dives
Role of the Restructuring Expert in a Huwa
The restructuring expert in a Huwa serves multiple roles. Initially, they assist the adapter in preparing a plan and negotiating, especially when the adapter lacks experience in such matters. Another crucial role arises in contested scenarios where the expert is appointed by the majority of creditors or a creditor to prevent stalemates between debtors and sponsors, leading to potential value destruction. The legislator introduced the concept to enable the expert to act independently for the benefit of joint creditors.
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