Abu Dhabi Global Market to Host 2nd Annual Financial Restructuring MENA Conference
Abu Dhabi, The Gulf Observer: Abu Dhabi Global Market (ADGM) is gearing up to host the 2nd Annual Financial Restructuring MENA Conference, scheduled to take place from the 19th to the 20th of February at the ADGM building in Abu Dhabi. The conference aims to assemble globally renowned restructuring practitioners to deliberate on effective strategies for addressing corporate insolvencies in the region, driven by the ongoing surge in interest rates and inflation.
In partnership with the Bankruptcy Commission Saudi Arabia (EISAR) and the International Finance Corporation (IFC), the conference seeks to equip the region’s banks and corporates with the tools to navigate the current wave of looming defaults. This is particularly crucial as global growth slows and interest rates continue to tighten.
Alexander Erofeev, Chief Special Operations Officer of IFC, emphasized the significance of the event, stating, “The market is expecting an increase in restructuring activity around the globe and in the Middle East. The 2nd Financial Restructuring MENA Conference is important for the players to get to know each other, discuss what shape the restructuring cases might take and what the practical solutions could be.”
Abdullah Al-Mogheerah, Secretary-General of EISAR, highlighted Saudi Arabia’s proactive approach in this context, stating, “Saudi Arabia has issued the bankruptcy law to facilitate market reintegration through settlement and financial restructuring procedures. EISAR actively offers services and collaborates with entities, empowering them to utilize the bankruptcy law effectively.”
The conference will kick off by taking stock of the progress made in the corporate restructuring space in the region. Panels will delve into various aspects, including high-profile insolvencies, achieving successful business turnarounds in highly leveraged situations, changing non-performing loan (NPL) management practices in MENA, and addressing challenges on both the buy and sell sides for the trade of NPLs.
The second day of the conference will emphasize systemic challenges and future trends. Topics will include exploration of problem loan resolution strategies and trade of single debts, challenges in attracting new investments post-restructuring, cross-border asset tracking, and emerging trends impacting the financial restructuring sector.
The 2nd Annual Financial Restructuring MENA Conference serves as a crucial platform for industry leaders, practitioners, and experts to collaborate, share insights, and devise solutions to navigate the evolving landscape of financial restructuring in the MENA region.
