INSOL Fellows Forum Education Session in Sydney – Another Winner!

Report by Allan Nackan, Farber Financial Group and Lucas Kortmann, RESOR N.V.

Sydney 2017 was another resounding success for the Fellows group. It was jam-packed with opportunities for networking and exchanging valuable insights with colleagues.

The Fellows community continues to make a significant contribution across many of INSOL’s initiatives. This vibrant contribution was most evident during INSOL’s 10th World Quadrennial Conference, including the following: (1) the leadership role that Scott Atkins, Henry Davis York (Australia), assisted by other Fellows, played in Taskforce 2021 and the  launch of INSOL’s strategic plan in Sydney; (2) a stellar contribution by Peter Gothard, Ferrier Hodgson (Australia) as technical co-chair at the main conference; (3) the many Fellows who populated panels and showcased their expertise; and (4) the highlight of the first day of the conference (and perhaps the entire conference), the case study and film presentation regarding the restructuring of TopOil.  The case study was written by Fellows Sam Bewick, KPMG (U.K) and Craig Martin, DLA Piper (USA) and starred Jane Dietrich, Cassels Brock & Blackwell LLP (Canada) and David Molton, Brown Rudnick (USA).   Not only does being a Fellow advance your restructuring career, it also appears to advance your writing and acting careers!

The Fellows Dinner and social function on Saturday evening was a friendly and casual gathering to catch-up with our Fellow colleagues from around the world.  It was gratifying to see how much the program has grown and the number of Fellows in attendance. Many thanks to the generous support of our sponsors of the Fellows’ functions: Archer Law, the Commercial Bar Association of Victoria, Grant Thornton and Henry Davis York.

The newly branded Fellows’ Forum on Sunday morning was an engaging and informative education session, co-chaired as usual by Allan Nackan of Farber Financial Group (Canada) and Lucas Kortmann of RESOR N.V. (Netherlands). Our panelists showcased their expertise as they presented on a broad range of technical topics and real-world case studies.

The opening panel was titled: What’s Happening in APAC? Latest developments from Australia and the Asia Pacific Region – Matt Byrnes, Grant Thornton (Australia) and Scott Atkins, Henry Davis York (Australia) updated us on latest insolvency reforms in our host country, Australia. Scott Atkins also updated the group on the important outreach work being done by his firm and others in Myanmar. Finally, Eddie Middelton, KPMG provided captivating insights from Hong Kong.

Focus then switched to Europe and a stimulating discussion on the practical implication of Brexit for the Insolvency profession, titled Will Frankfurt Become the NEW London?  – Mark Craggs, Norton Rose Fulbright (UK) advocated for London to retain its status as an important jurisdiction, particularly due to the ongoing popularity of English Schemes of Arrangement.  Christel Dumont, Dentons (Luxembourg) and Robert Schiebe, Schiebe und Collegen (Germany) passionately presented the pros and cons of their home jurisdictions playing an increasing role in restructurings within the European Union.

The final technical panel was aptly named Leading Edge Developments in Cross-Border Workouts – Nico Tollenaar, RESOR N.V. (Netherlands) discussed legislation that is currently being prepared at both the European and the national levels to introduce “pre-insolvency” proceedings, with a view to rescuing distressed businesses before formal insolvency proceedings commence. Erin Broderick, Baker & McKenzie LLP (USA) presented on avoidance powers in US Chapter 11 proceedings and their extra-territorial effect. Jeffrey Oliver, Cassels Brock & Blackwell LLP (Canada) rounded off the panel with a discussion of environmental considerations for insolvency practitioners and the latest on priority issues relating clean-up obligations in Canada, with particular reference to the Redwater case in Alberta.

The session ended on a high note with the Abengoa case study– In this interactive Q&A session,  R Craig Martin, DLA Piper (USA) provided his valuable insights on the legal, cross-border and practical matters that come into play when implementing a global restructuring plan such as Abengoa, which had significant operations in Spain, USA and around the world.

Lively participation from the audience during all sessions added significantly to the learning experience.  This level of engagement flows naturally in a small group who know each other so well and who have highly-developed expertise in their subject area.

After the education session, brave members of the Fellows group ascended to new heights by climbing the Sydney Harbour Bridge and were rewarded with spectacular views of the harbour.

We are looking forward to gathering again in New York in 2018.

– Courtesy of INSOL World