Day 1 of the BFSLA conference Camilla Clemente, Partner, Ashurst will chair a session Defence or detour: are clauses to defend against liability management exercises necessary?" joined by speakers Jamie Donnelly, of Legal - Fund Investments, Metrics, Lewis Grimm, Partner, Jones Day and John Schembri, Partner, Gilbert + Tobin. This session will discuss as the landscape of liability management exercises (LMEs) evolves, the implications for both lenders and borrowers come into sharper focus. Increasingly, lenders aim to safeguard against potential risks such as losing access to a borrower’s crucial assets or becoming inadvertently subordinated. However, for borrowers operating in Australia and New Zealand, LMEs may present strategic opportunities to optimise their capital structure and potentially lead to better outcomes for participating lenders. In this session, the panel will: • discuss the dual perspectives of lenders and borrowers on LMEs within existing documentation frameworks in Australia and New Zealand (in particular whether the possibility of a LME should overturn the majority rule principle of syndicated lending) • examine potential vulnerabilities in facility agreements that could be leveraged for LMEs, coupled with corresponding lender safeguards aiming to close such gaps. To register and view the programme go to https://lnkd.in/gt89ShAYMatt CunninghamDr Nuncio D'AngeloDr Ann WardropKerry BeaumontKerryn SmithJosh CairnsJames Edward John ConnellHelena BusljetaTony RyanKatrina Gardiner
