Abu Dhabi Global Market (ADGM) is set to host the 2nd Annual Financial Restructuring MENA Conference from 19th to 20th February at the ADGM building, Abu Dhabi.
The conference will bring 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.
The conference, held in partnership with the Bankruptcy Commission Saudi Arabia’ EISAR’ and the International Finance Corporation (IFC), 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 of 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.”
Abdullah Al-Mogheerah, Secretary-General of EISAR, stated, “Saudi Arabia has issued the bankruptcy law to facilitate market reintegration through settlement and financial restructuring procedures. 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. It will be followed by panels which will delve into high-profile insolvencies, achieving successful business turnarounds in highly leveraged situations, 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.