Distressed loans in the Greek banking system: restructuring portfolios, reviving enterprises

10/03/2016 (Ημερίδες)

Τράπεζα της Ελλάδος, 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

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

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