The current economic climate has seen a number of high-profile brands in the retail and hospitality sectors going into administration, with many more facing uncertain futures. At the same time, stories have emerged about new ‘administration light’ processes, but there is uncertainty as to what these may mean for employees, customers and suppliers. In this webinar, PwC’s Mike Jervis and Zelf Hussain will provide an overview of the more common restructuring and administration processes seen in these sectors and will discuss some of the key issues facing businesses as concerns about the long-term viability of customers and suppliers may be brought into question. Key takeaways from this webinar:
Following the formal presentation, delegates will have the opportunity to put their questions to Mike and Zelf.
Mike Jervis, Restructuring and insolvency, PwC UK
Accounting/Restructuring/Insolvency expert, appointed on assignments such as Lehman and Carillion. Expert on directors' duties and distressed Financial Services companies. Undertakes advisory work for UK FS regulators on Resolution Scenarios. Sold the Lehman UK equity and prime brokerage business to Nomura in October 2008. Executed the repatriation of $800m from the Lehman Chinese QFII. Recently paid 131% (c£1 billion) to creditors of Lehman Bros UK. Completed the sale of the Russian oil and gas based assets of VOSTOK plc which owned a licence to extract oil and gas in South West Russia. Currently Special Manager to the Liquidator of Carillion and subs, a £5 billion revenue group focused on construction, PFI and facilities management. Cayman appointed Provisional liquidator of Abraaj Holdings, world’s largest EM PE sponsor. Historically led successful disposal of the Game business out of administration, prior to IPO. Litigated the leading case on administration expenses. Co-authored original market guidance on pre-packaged administrations. Advises UK pension interests on Nortel global. Sold assets of Excalibur CMBS to Lone Star- €2.5 billion. Sold the assets of Albemarle and Bond, the UK's largest pawnbroker, Brantano, Q Hotels. Notable advisory cases - refinancing of a listed UK retailer, lead advisor on a listed UK retailer (now taken private), advice on CRE problem for a non UK lender, sold for c£250m solvently, Lead sale role for shareholders of a high profile £1 billion revenue travel group with a £650m pension deficit (subject to RAA), expert person role for a UK FIn Services regulator, directors' advice to multi-billion oil and gas group. advice to fund on a (sharia compliant) loan to own strategy, directors' advice to a non UK listed energy company, directors' advice to listed Canadian gas business. Advice to listed audit client on business impact of CVA. Chartered accountant, frequent presenter, Board Member of Triple I, ICAEW Insol licensing committee.
Zelf Hussain, Partner, PwC UK
Zelf has over 20 years of experience in working with mid market companies that are experiencing financial distress. Zelf and his team have recently worked with companies that have experienced stress because of over-trading or because they have lost a strategically important contract. Zelf works closely with company directors, shareholders, private equity companies and lenders to quickly understand the causes of any issue and then helps to address this cause rapidly and efficiently. He finds solutions for his clients that often include raising new money, finding a buyer for the business, or simply helping to develop and implement an effective turnaround plan.
Should you experience webinar difficulties, please click here
ICAEW is collating resources to offer support and information to members as conditions unfold.
Visit the hub: icaew.com/insights/coronavirus
If you are an ICAEW Member or Student or have already created an Account please login below. Otherwise please create an Account.
This screen shows you the details for the selected product.
Click the "Add to Cart" button to add this product to your shopping cart. You can enter a quantity larger then 1 to add multiples of this product to your shopping cart.
If the product is full you will see a "Wait List" button. Click this button if you would like to be notified if/when capacity is added. If capacity is increased we will email you. Upon receipt of the increased capacity notification, registration will be on a first-come, first-served basis.
If the product is not ready for purchase you will see a "Notify Me" button. You can click this button if you would like to be notified when this product is ready for purchase.
Some products can only be purchased through our partner. In this case you will see an "External Register" button. Click this button to purchase through our partner's website.