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Plan your day
The Asia Pacific Programme will start at 09:00 SGT time
COVID-19 has caused an enormous downturn in airline passenger demand and revenues leaving airlines struggling to cover high fixed costs such as aircraft lease rents. This session will explore the particular challenges faced by airlines and those who service them, including lessors, airports, maintenance providers and manufacturers, as well as the role of governments and regulators. The panel will also consider the restructuring tools that have been deployed in this archetypal cross-border industry and expected future developments.
2021 will present multiple recognition dilemmas for restructuring practitioners. Brexit has profound consequences for recognition across borders, but that’s just one piece. Larger than ever global restructurings, due to bigger deals and more complex financing and supply chains, will require an increased number of jurisdictions to be involved in each restructuring. The potential for restructuring regimes being incompatible with each other and the intended restructuring is ever increasing. A panel of eminent judges will discuss these issues and more.
Financial institutions will need to manage how they deal with their distressed customers in the months and years ahead as the world’s economy emerges out of the COVID-19 induced disruption. The speakers will explore an institutions’ ability to deal with distressed assets of customers at scale and in a manner consistent with good turnaround / restructuring practices. They will also cover the flow and effects on valuations and real estate prices and how to manage perceived conflicts of interest.
Have the duties and liabilities of officers and directors changed or been suspended as a result of the pandemic, or have they remained the same? How has the proliferation of pandemic-related governmental assistance and moratoria affected the exercise of these duties in different regions of the world? What will the impact be of the expiration of such governmental measures? When suspensions of directors’ duties and moratoria are lifted will creditors aggressively pursue enforcement actions or seek to force the sale of businesses affected by the pandemic, and what dilemmas and liability risks will be posed for company directors and officers by the need to respond to such creditor actions?
Many thought that COVID would hit Asia Pacific economies hard, but the insolvency wave has yet to arrive. Is this forbearance, with the worst to come or a genuine “hockey stick” shaped economic recovery? Further, Asia Pacific government responses to COVID-19 have been varied, but in hindsight what was the best approach? Is there a difference between “Rich Asia” vs “Poor Asia”, in terms of recovery and hardship? The speakers will look at business closure, retrenchment and MSME support, US-China trade relations, and the impact of Covid on the real estate sector.
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