Elevated interest rates, rising financing costs, geopolitical uncertainty as well as inflationary pressures continue to challenge businesses across Europe. In 2025, a slow but steady increase in restructuring activity was driven by proactive strategies such as ‘amend-and-extend' agreements and out-of-court solutions aimed at preserving value and avoiding formal insolvency proceedings. This session will explore the evolving trends, challenges and opportunities shaping the European restructuring market and consider what may lie ahead in 2026. 

• How will expected economic conditions influence distress levels and restructuring strategies in 2026?
• What factors contributed to an increase in restructuring activity this year? Does the panel expect restructurings to peak in 2026?
• How has the trend in out-of-court restructurings reshaped the European market and what does it mean for stakeholders going forward?

This session will examine how LMEs and cooperation agreements are evolving across European markets, focusing on the legal, financial and regulatory factors shaping today’s restructuring landscape. The panel of experts will explore:

• What is driving the surge in LME activity across Europe and what cross-border complexities are emerging?
• How has private credit influenced the marked rise in LMEs?
• Which factors are behind the growing use of co-op agreements across Europe and what challenges are creditors encountering when using them?

This panel explores the recent legal developments shaping restructurings in the UK and Europe. The session will highlight key tensions around valuation, recognition and creditor fairness and what these trends mean for future restructuring strategies. Experts will discuss how European countries are applying the EU Preventive Restructuring Directive and the practical use of the respective restructuring regimes in jurisdictions such as Germany and Spain. 

• UK restructuring plans - what does the future hold?
• Is the UK losing its appeal as a restructuring venue of choice?
• What does the future hold for cross-border recognition of restructurings and how are European restructuring tools bedding in?

Weak demand, high costs and rising global competition combined with high energy prices and a shift away from fossil fuels are reshaping both the automotive and chemicals sectors. The automotive sector also faces additional pressure from the transition to electric vehicles (EVs) with plunging investment raising concerns for the European industry. Turnaround efforts are largely focused on consolidation and cost optimisation as companies review their portfolios to focus on core capabilities and streamline operations. This panel will examine the forces driving change in these sectors, review lessons from recent transformations and explore what the future might hold. 

• What factors shaped automotive and chemicals sector financial restructurings in 2025 and what challenges and opportunities lie ahead in 2026? 
• What insights can be drawn from recent automotive and chemicals turnaround situations? 
• Bankruptcy versus out-of-court restructuring- how should companies weigh the risks and benefits of each approach? 

Last year, there were 35 data centre financing transactions, with €1.1bn capital market debt and €10.3bn of loan debt, according to data from Infralogic. So far this year, there have already been five deals with €292.8m of capital market debt and €3.64bn of loan debt. 

• How do borrowers and lenders navigate in the current market?
• How have lending conditions changed?
• How do they view the various risks, from an AI bubble to technological obsolescence?