Distressed loans in the Greek banking system: restructuring portfolios, reviving enterprises
10/03/2016 (Workshops)
Bank of Greece, European Bank for Reconstruction and Development (EBRD)
Lehmann Alexander, Tesseyman Nick, Mitrakos Theodoros, Plaskovitis Ilias, Potamitis Stathis, Zahariev Karmen, Davison John, Richards Loren, Koliopoulos Marios, Vousvounis Constantinos, Haralabidis Michael, Vergados Yannis, Colman Nicholas, Julia Josep, Psarris Dimitrios, Palmer Brad, Vossikas Constantinos, Melngailis Nils, Langstaff Richard, De Ochoa Jose, Finkel Jerome, Sakellaridis Plutarchos, Newton Will, McAleese Tom, Rawal Ajay, Athanasopoulos Theodoros
Distressed loans in the Greek banking system:
restructuring portfolios, reviving enterprises
10 March, Bank of Greece
Agenda
8.30 – 9.00 Registrations
9.00 – 9.15 Introductions
Chair: Alexander Lehmann, EBRD
9.15 - 9.45 Session I
Greek banks after the recapitalisation: the agenda for NPL resolution
10.00 – 11.30 Session II
Chair: Kamen Zahariev, Director, Corporate Recovery, EBRD
Solutions for borrowers with exposures to multiple banks
- How can banks organise financial restructuring effectively where debt-distressed borrowers have exposures to multiple borrowers but formal structures like syndication are lacking?
- Are the principles for creditor coordination effective and in line with international norms such as INSOL?
- Benefits and drawbacks of a “private bad-banks” or shared work-out platforms
International experience:
Reactions by local market participants:
- Michael Haralabidis, Hellenic Financial Stability Fund
- Constantinos Vousvounis, Eurobank
- Yannis Vergados, Piraeus Bank
Panel discussion
11.30 – 11.45 Coffee break
11.45 – 13:30 Session III
Chair: Nicholas Colman, KPMG
Sales of distressed portfolios: attracting international investors, establishing the local infrastructure
- Structuring portfolios: granularity, diversification, size
- Strategies for retail and corporate portfolios
- Investor classes and return expectations
- Local servicers: what infrastructure is required?
- Servicing and foreclosure: good practices and public oversight
Introductory presentation: Stathis Potamitis, Law firm Potamitis Vekris
Panel on loan servicing:
- Nils Melngailis, Centerbridge Partners
- Richard Langstaff, Kaican
- Jose de Ochoa, PWC
Panel on loan sales:
- Josep Julia, IFC
- Martin Rauchenwald, Oliver Wyman
- Brad Palmer, Sankaty Advisors
- Konstantinos Vossikas, National Bank of Greece
13.30 – 14.30 Lunch break
Chair: Jerome Finkel, BlackRock Solutions
14:30– 16.30 Session IV
From financial restructuring to revival and growth of Greek enterprises
Keynote address by Plutarchos Sakellaris, Professor at Athens University of Economics and Business
The banks’ internal workout: managing distressed SMEs
- Implementation of the Code of Conduct on NPL Management
- Portfolio segmentation of distressed SME exposures
- Banks’ internal workout units: incentives, tools and capacity constraints
- Managing equity holdings
International experience:
Challenges in Greece:
Panel discussion
Summing up by the chairs:
- Kamen Zahariev, EBRD
- Nicholas Colman, KPMG
- Jerome Finkel, Blackrock
16.30 Cocktail Reception hosted by the Bank of Greece