- Focus will be to discuss strategies for effectively addressing corporate insolvencies in the region
- Exclusive insights from ongoing billion-dollar restructuring cases and global best practices in NPL offloading and corporate restructuring as GCC banks are reportedly sitting on USD 50bn of NPLs.
- Event to host 50 expert speakers and 300+ delegates from 15+ countries
Abu Dhabi, UAE: Abu Dhabi Global Market (ADGM) is set to host the 2nd Annual Financial Restructuring MENA Conference from February 19-20, 2024, at the ADGM building, Abu Dhabi,bringing together globally renowned restructuring practitioners to discuss strategies for effectively addressing corporate insolvencies in the region, resulting from the continued spike in interest rates and inflation. Worldwide, 15% of the corporate bonds and loans trading at distressed levels, currently in excess of USD 590 bn, have defaulted highlighting grave impacts for the global economy.
Hosted by Abu Dhabi Global Market (ADGM) and in partnership with the Bankruptcy Commission Saudi Arabia ‘EISAR’ and the International Finance Corporation (IFC), the conference aims to prepare the region’s banks and corporates to effectively navigate the current wave of looming defaults as growth slows globally and interest rates continue to tighten.
Alexander Erofeev, Chief Special Operations Officer, International Finance Corporation (IFC) said,“The market is expecting an increase in restructuring activity around the globe and in the Middle East. The 2nd Financial Restructuring MENA Conference is important for the players to get to know each other, discuss what shape the restructuring cases might take and what the practical solutions could be.“
The second annual edition is joined by a stellar line up of speakers including Abdullah Almogheerah, Secretary General, Bankruptcy Commission Saudi Arabia ‘EISAR’; Balaji Prasad Natarajan, Group Chief Financial Officer, Binladin International Holding Group; Paul Gilbert, Managing Director, Alvarez & Marsal Middle East Limited; Khalid Mohammed Ba Shniny, Executive Vice President, Head – Restructuring & Collections, Saudi National Bank; Naveen Sabharwal, Managing Director, Davidson Kempner; and Mo Farzadi, Business Restructuring Services Partner and Middle East Leader, PwC among others.
Abdullah Al-Mogheerah, Secretary General, Bankruptcy Commission ‘EISAR’, Saudi Arabia added, “Saudi Arabia has issued the bankruptcy law, to facilitate market reintegration through settlement and financial restructuring procedures. The Bankruptcy Commission “EISAR” actively offers services, and collaborates with entities, empowering them to utilize the bankruptcy law effectively.“
The conference will commence by taking stock of the progress made in the corporate restructuring space in the region and will be followed by panels which will delve into high profile insolvencies, achieving successful business turnarounds in highly leveraged situations, the changing NPL management practices in MENA, and addressing buy side and sell side challenges for trade of NPLs among others.
Emphasis on the second day will be on systemic challenges and future trends, exploration of problem loan resolution strategies and trade of single debts, challenges in attracting new money post-restructuring, cross-border asset tracking and emerging trends impacting the sector.
The Financial Restructuring MENA Conference 2024 promises to be a landmark event, offering invaluable insights into the evolving landscape of corporate insolvency and restructuring in the MENA region. It is an unmissable opportunity for professionals to engage with the latest trends, challenges, and emerging opportunities in this industry.
Leila Masinaei, Managing Partner, Great Mind Events Management, organizer of the 2nd Annual Financial Restructuring MENA Conference reiterated, “We are proud to organize this strategic conference at a crucial time for the industry. Our agenda is carefully crafted to address the pressing issues facing the insolvency and restructuring sector, providing a platform for key stakeholders to collaborate and navigate the complexities of large corporate insolvencies”.
The event will be attended by policymakers, large corporates and family offices, commercial banks, restructuring advisories, asset managers, law firms, hedge funds and litigation financiers among other key stakeholders.
