Debtwire Restructuring Forum New York 2023

Our brand-new event for the North American restructuring community!

Conrad New York Downtown, 102 North End Avenue, New York, NY 10282

08.00 - 08.55
EDT

Registration

08.55 - 09.00
EDT

Welcome Remarks

John Bringardner
John Bringardner Executive Editor, DEBTWIRE
09.30 - 10.30
EDT

Keynote panel: The state of the US distressed and restructuring market

2023 is poised to see a resurgence in distressed and restructuring activity in North America. According to Debtwire data, January 2023 saw 50% more bankruptcy filings compared to the same time last year, and with all signs pointing towards further economic turmoil and a looming recession, it is imperative to take stock of the market and for distressed asset managers to seek out opportunistic activity prospects. Our panel of fund managers and experts will review the macroeconomic climate, discuss distressed investment strategies, and share their insights on how they are managing liabilities in a time of flux. 

  • What is the state of the market given the macroeconomic climate, and how have distressed investing strategies evolved domestically?
  • Are there any specific sectors that show more distressed and restructuring opportunities than others, and has there been more cross-border activity? 
  • How are managers preparing themselves to mitigate downside impacts and manage liabilities?
  • Are distressed fund managers optimistic about the year ahead, and how is the deal pipeline shaping up?
10.30 - 11.00
EDT

Networking Break

11.00 - 12.00
EDT

Panel – Sector focus: The rise of retail bankruptcies and meme stocks

Against the current economic downturn, it is expected that defaults are expected to rise again within the retail and consumer sector, with notable examples such as Bed Bath & Beyond's Chapter 11 filing  capturing news headlines. At the same time, the phenomenon of meme stocks, which came to the fore during the pandemic, are back in the spotlight, with retail investors looking to trigger short squeezes on unprofitable companies. Our experts will discuss the opportunities and evaluate the risk and reward profile of the sector.

  • Which retail companies are in danger of going bankrupt next?
  • Bed Bath & Beyond – what are the implications of this case for the sector?
  • Meme stocks – why are people investing in companies on the verge of bankruptcy, and how are they impacting the market?
  • What is the outlook for the rest of 2023?
12.00 - 12.45
EDT

Panel: The evolution of lender-on-lender violence – covenant trends

Lender-on-lender violence transactions continue to be commonplace in the US market, with majority creditors using various structures including priming, uptiering/covenant stripping, and drop-down transactions to benefit themselves over other minority creditors. Our panel will explore the legal and practical implications of recent in-court and out-of-court restructuring cases, the evolution of these transactions, and what may be next on the horizon. 

  • Case study: What are some key takeaways from recent litigation, and what could have been done differently?
  • How can minority/nonparticipating lenders best protect themselves? 
  • What are the implications of these transactions on valuations?
  • How have these transactions evolved, and what does the future of lender-on-lender violence hold?
12.45 - 13.45
EDT

Networking Lunch

13.45 - 14.30
EDT

Panel: Bank implosion- insights for what’s ahead

Throughout the past few months, the global banking system has seen several high-profile bank failures-SVB, Credit Suisse, Signature Bank, First Republic- leading to mounting investor concerns. Is the current situation just a bump in the road, or is it a sign of further financial fallout? Our panel of industry experts will discuss the underlying causes of the crisis, FDIC’s role in the banking crisis, regulatory updates, and what the future holds for these banks and other financial institutions. 

  • The 2023 banking crisis- what went wrong and where are we now?
  • What are the implications of the Chapter 11 filing by SVB’s holding company, and how does the SVB situation continue to affect the market?
  • What lessons can be learned by comparing recent events to the 2008 financial crisis?
  • What does the future hold for the banks, their creditors, as well as other financial institutions? 
14.30 - 15.30
EDT

Panel: Sector focus – distressed commercial real estate litigation and restructuring

According to Debtwire data, real estate was the most active bankruptcy sector in 2022, comprising 17% of cases filed during the year. It is expected that there will be an increasing wave of defaults and bankruptcies in the commercial real estate sector, with lenders putting pressure on property owners, hybrid work detrimentally affecting landlords, and rising interest rates being among some of the issues impacting borrowers. Our industry experts will discuss what is next on the horizon, as well as share best practices on how to be prepared given continued market dislocations. 

  • What are the key trends shaping the sector, and how has the pandemic, macroeconomic backdrop, and work from home phenomenon continued to affect stakeholders in commercial real estate?
  • Is there an expected rise in both in-court and out-of-court restructurings related to distressed property assets?
  • What are the opportunities for investors looking to acquire distressed real estate assets? 
  • What is the outlook for the sector in the upcoming months? 
15.30 - 16.00
EDT

Networking Break

16.00 - 17.00
EDT

Panel: Cryptocurrency in crisis – bankruptcy and industry updates

The second half of 2022 will be remembered for its “crypto winter”, with several high-profile cryptocurrency firms going bankrupt, including FTX, Celsius, and Voyager. The industry’s woes seem to have continued into 2023, with layoffs and bankruptcies as a result of risky activity and a lack of regulatory oversight. What have been some of the lessons learned, and what do industry experts expect to see in the second half of 2023? In this session, our panel will discuss the current situation and what it means for the sector.

  • Crypto Chapter 11 proceedings – what are some of the key issues that have arisen, such as valuation disputes, and is continued distress going to lead to more bankruptcies in the space?  
  • Innovation vs regulation in the crypto sector – where does the balance lie?
  • What are the implications for investors, and what legal and contractual protections can be put into place for customers?
  • What does the crypto platform look like going forward, and will the challenges persist? 
17.00 - 18.00
EDT

End of conference and networking drinks