Deep dive: Restructuring & Insolvency

Together with The Institute of Company lawyers (IBJ-IJE) in Belgium, we are organising a seminar on the new Belgian insolvency law that we will host in our offices in Brussels on 17 September 2024.

Our experts will explore risks and mitigants when facing a company in financial distress as a co-contractor, potential buyer, lender or shareholder. 

Programme

12:00-13:00 | Lunch

13:00-13:45 | How to protect against a co-contractor in financial distress –
Jens De Winne

o Impact of the opening of an insolvency proceeding on ongoing agreements
o Impact of the enforcement rights following an insolvency proceeding (suspension of enforcement right, retention of title)

14:00-14:45 | Buying a company in distress – Thomas Lenné, Mathias Hendrickx, Kris De Schutter & Etienne Pennetreau

• Key considerations of distressed M&A

o Key considerations for distressed M&A transactions in going concern, including the interaction between nominal consideration value and terms and conditions of transaction documentation, followed by a high-level overview of the restructuring options under the new insolvency regime.

• Key employment considerations

o The art of falling off: cherry picking
o The art of cost reduction: harmonisation and negotiating new salary conditions
o The art of a soft landing: every end is a new start.

15:00-15:45 | Supporting a company in financial distress as (new) lender, shareholder or co-contractant – Vanessa Marquette & Caro Van den Broeck

o Key risk when supporting a company in distress (claw back risk, lenders liability, support letters from parent companies)
o Potential mitigants (contractual mitigants, protection against claw back in context of court proceedings, protection for new financing)

15:45-16:30 | Networking drinks