European Restructuring Day 2015

Details

+++ SAVE THE DATE: The European Restructuring Day 2016 will take place on 9 and 10 June 2016 in Frankfurt +++

Restrospect 2015

The seventh European Restructuring Day (ERD) on 19 June 2015 focused on the trends in the field of refinancing and restructuring as well as large international group reorganisations. Thomas Hoffmann, Co-Head of Noerr's Restructuring & Insolvency practice group, welcomed more than 150 experts from Germany and abroad to the Frankfurt Hilton hotel. First results of the “Insolvency Study 2015” were also presented at the ERD; the study is based on an expert survey conducted jointly by Noerr and the consulting firm McKinsey & Company.

The restructuring of groups such as Apcoa, Suntech or Nokia also formed the common framework for the discussions on whether German insolvency legislation, following its reform of three years ago, is competitive at an international level. The insolvency study of Noerr and McKinsey provides valuable insights: “A clear majority of the foreign experts surveyed still prefer US or English restructuring law”, said Thomas Hoffmann, commenting on the results of the survey.

Europe’s largest car park operator, the Stuttgart-headquartered Apcoa, was also restructured under the UK Scheme of Arrangement. Dr. Ulrich Bergmoser (today: Humatica AG), gave a first-hand account of this. Besides, the speeches given by Dr. Holger Bielesz (Wolf Theiss) and Alexander Birnstiel on Heta, the restructuring unit of Hypo Alpe Adria, as well as a discussion panel on the issue of distressed bonds moderated by Thomas Schulz met with great interest. Prior to that, Dr. Dirk Wolfertz, chairman of 3W Power S.A., and Jeffrey Casper (CEO), reported on the bond restructuring at 3W Power. Noerr was involved in the restructuring of the € 100 million bond both through team Treuhand as joint representative of the bond creditors and as advisors to Close Brothers (today: Oddo Seydler) on the implementation of the restructuring plan.

The conference was opened by the Irish ambassador, Mr. Michael Collins. On the evening before the conference, the British ambassador, Sir Simon McDonald, spoke to the guests who attended the opening event.

We would like to thank all speakers, panellists and attendees for another successful conference. The conference date for 2016 will be published on this website in autumn.

Impressions

Here you can find some impressions from the ERD 2015:

Programme