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This two-day course deals with the background and resolution of debt restructuring issues and reviews techniques for limiting exposure.
As risk profiles and positions of debt holders change, creditors can become subject to transition or migration risk and find themselves holding distressed debt. The effects of downward migration range from a credit rating change to outright default or insolvency.
Changes in risk profile often require renegotiation of terms, including pricing and covenants, or in extreme cases, complete restructuring.
This course addresses the background and resolution of such issues and the techniques available to creditors to limit exposure.
- Understand the concept of migration risk.
- Identify the constituent elements of typical debt structures.
- Handle protective documentation.
- Know the rules and requirements of bankruptcy regimes in the US, major EU countries, and some emerging markets, and the protection and dangers for creditors.
- Recognize the important aspects of jurisdiction and the impact of "forum shopping."
- Know the recent changes to international insolvency practice derived from UN Model Laws, EU Insolvency regulations, and the US Bankruptcy Code.
- Understand the most significant factors in planning a debt restructure.
- Structure a reorganization plan and evaluate alternative strategies.
- Commercial, corporate, and investment bankers
- Credit and equity analysts
- Hedge fund and private-equity managers
- Distressed debt investment and management groups