The sixth annual International Corporate Restructuring Summit will be addressed by the CEO of the National Asset Management Agency (NAMA), Brendan Mc Donagh when it convenes to assess sectoral trends and issues at The Convention Centre Dublin tomorrow.
Sponsored by business advisory firm Deloitte, law firm Matheson and financial services practisce Alvarez & Marsal, the summit will be chaired by Dan O’Brien, columnist and economics analyst, Independent Newspaper Group and he will be joined by a range of speakers whose insights span the range of corporate restructuring activity from local corporates and advisors to pan-European perspectives.
The summit speakers include the head of Financial Services Group, AIB, Brendan O’Connor and Fabrizio Grena, executive director, European Special Situations Group (ESSG), Goldman Sachs.
According to Tom Kavanagh, partner, Restructuring Services, Deloitte: “The landscape of corporate restructuring is evolving as economic recovery takes hold. The conference will provide valuable insight into the most significant trends in Insolvency and Restructuring. The hot topic currently is the significant narrowing of the gap between asset values and debt values which is a game changer in terms of restructuring options and opportunities.”
Tony O’Grady, partner, Corporate Restructuring & Insolvency Group & joint head of Commercial Litigation, Matheson said: “As the Irish economic picture improves, the appetite for loan portfolios amongst international investors continues to grow. Ireland is now one of the most active European loan sale markets and many US investors now see Ireland as one of the prime target markets for loan acquisitions in Europe.”
Tom McAleese, managing director, Alvarez & Marsal highlighted: “The European banking sector is awaiting the results of the ECB/EBA stress in October to determine who passes and who fails. After the stress tests the level of bank restructuring will decline with the banks (including Irish banks) now firmly focused on growing their balance sheets which will feed into the SME and corporate sectors positively.”