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Best regards
Zmags
Published by TIMES Group First Edition 2015
Business Restructuring
& Insolvency Report
www.pwc.ie
Portfolio
workouts
in Ireland
As Ireland's recovery continues, opportunities are arising for
international capital. PwC is Ireland's foremost restructuring and
insolvency practice. We can advise on all aspects of loan and asset
portfolio workouts. We have extensive experience in delivering
successful restructuring, through formal and informal processes,
to a range of international clients. To discuss your restructuring
requirements, please contact:
Declan McDonald
+353 1 792 6092
declan.mcdonald@ie.pwc.com
Ken Tyrrell
+353 1 792 5184
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Published by TIMES Group
www.pwc.ie Portfolio workouts in Ireland
Business Restructuring & Insolvency Report Edit
Contents 04 Towards a unified bankruptcy
52 Business restructuring and insolvency
Towards a unified bankruptcy law? by Robert v
Article 46 of the EIR provides for the revision o
The International Bar Association by Pekka Ja
against these so-called `gatekeepers'. The sessio
Modernising insolvency law: current work of the U
of the group, eligibility to commence insolvency
Insolvency Lawyers Association - (ILA) by Phi
disqualification is appropriate, such as `the ext
Turnaround Management Association - A busy year a
Recovery and Insolvency Specialists Association -
Global reach and commercial insight – award winni
The Restructuring landscape - looking ahead to 20
addresses valuations and recommends that these ar
reorganisation. This includes where the debtor re
to compromise the creditors and 100% consent coul
The legislation is currently in draft but will li
© 2015 Ernst & Young AB. All Rights Reserved.
Restructuring in the Nordics - outlook for 2015
PART 2: THIS IS NOW… FINLAND IS STILL IN RECESSI
and GDP might shrink further. Government deficit
Micro environment and trends · Somewhat popul
MEDIAN DEBT LEVELS BY EV > EV USD 250m
across Europe participating. The attendees includ
in oil prices in 2014. Unemployment is stil
INSOLVENCY AND RECONSTRUCTION They are accessi
Insolvency law in Australia - changing the rules
that apply to liquidators and trustees in bankrup
creditors without a formal meeting,20 creditors w
Navigating turbulent times Deloitte Restructuring
Restructuring in Austria and CEE by Ben Trask
do business further east due to its robust and st
FINANCING OF ENTERPRISES* IN 2013 5 %
SUMMARY OF THE KEY ASPECTS OF THE AUSTRIAN INSOLV
As shown with the example for Austria, there are
mckennalong.com Global Experience McKenna Long &
A market-led approach to group restructurings
The economic reality of the way in which groups o
concept of `a single economic entity' and the ext
all parties involved and avoids artificial shifts
legal entity restructuring11 and ii) consolidated
We help companies and divisions overcome a range
The new challenges of corporate restructurings in
of importance. However, in the current environmen
CHART 5 Balance between internal an
Insight. Expertise. Cross-border reach. We offer
Cayman restructuring options by Mike Saville,
of any restructuring coming under attack, or, in
approach has been recognised by the Court, as ill
Business restructuring and insolvency report - Fi
bankruptcy proceedings. The administrator is also
time of receiving the restructuring application,
of the realisation may prove to be far less if it
Independent business review - efficient element f
complexity might also arise from legislative grou
of different scenarios. The analysis can include
There are challenges that overwhelm and there are
Restructuring and insolvency in Germany 2015
leverage ratios increased to pre-crisis level of
issue corporate bonds. These bonds are traded at
Multi track M&A processes in debtor-in-possession
If the management is not willing to start such an
ARE DISTRESS AND UNCERTAINTY IMPACTING YOUR BUSIN
Operational turnaround - imperative for reviving
Restructuring `CDR' process or bilaterally). In m
needed, 2) ability of the turnaround team on the
www.pwc.ie Portfolio workouts in Ireland
Ireland - a good place to do business by Decl
exercise those powers for a lawf
entities. A year on from its introduction there h
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The Dutch pre-pack and scheme by Hendrik van
`pre-cook' matters as much as possible in a struc
he should take such actions that would lead to cr
outside an insolvency proceeding. Creditors can a
If a composition has been approved by the require
Restructuring is here to stay by Peter Wolter
companies operate. Examples of today's megatrends
increased demand from (i.e. competition amongst)
Turning complexity into opportunity Our Global
Transfer pricing issues associated with business
BUSINESS RESTRUCTURINGS FROM A NORWEGIAN PERSPECT
The concept `options realistically available to t
www.pwc.co.za/deals Advising you in challe
South Africa – increasing adoption of a rescue cu
keen participants in funding commodity and oil an
distances between major towns and cities in South
Although steering towards a more creditor friendl
limited to ring fencing of lender cash over which
The Swedish law firm specialised in turnarounds, b
Getting rid of unwanted contracts by Nils Åbe
As a background to the matter in hand, it is impo
In the case, Rörvik Timber (the Customer) had a f
From opening thoughts to closing the deal – we kn
Financing alternatives of utilities with low cred
CHART 1 - SWISS ELECTRICITY PRICE DEVELOPMENT CH
(O&M), technical and commercial management and ad
Walder Wyss Ltd. Zurich, Basel, Berne, Lugano
Restructuring under the revised Swiss law by
whether its assets are appraised at going concern
creditors or governmental offices of the proceedi
i.e. irrespective of the ordinary termination dat
NEW LAW AHEAD In addition to the amendments to t
Index of Advertisers Advokatfirman Carl
MORE THAN ANY OTHER LAW FIRM IN ISRAEL We aim to
The professional association for European restru