With private credit playing an increasingly prominent role in restructurings, this session will focus on audience discussion and peer-to-peer exchange. Panellists will use recent case studies to spark debate, with delegates invited to share their views through live polling, questions and discussion with the floor. Together, the room will examine how creditor priorities, negotiation strategies and the balance of influence are changing across today's restructuring landscape. Discussion points include:

• How has the shift from banks to private credit changed who controls the restructuring process, particularly in mid-market distress?
• Are private credit lenders driving different outcomes on new money, liquidity solutions and balance sheet resets?
• What challenges arise when coordinating lender groups with differing time horizons and enforcement strategies
• What does Healthscope tell us about who really holds leverage when private capital structures come under pressure?
• How is private credit influencing negotiation dynamics, enforcement approaches and timelines in out-of-court restructurings?