An overview of the major global insolvency and restructuring trends, cases and market shifts defining the past year.

Private credit is driving restructurings across Europe and the US, reshaping deal dynamics in increasingly complex situations. This session examines how investors tackle distressed disposals, intercreditor negotiations and implementation routes in today’s fast‑moving market.

• The expanding role of private credit in restructurings across major jurisdictions
• Comparative insights from European and US market practice
• How private credit shapes distressed disposals, lender negotiations and intercreditor dynamics
• Implementation options and emerging strategies in complex cross‑border situations

As restructuring plans, LMEs and cooperation agreements face sharper scrutiny from courts, regulators and all stakeholders, debtors are navigating a far more complex implementation landscape. This session examines how antitrust concerns, intercreditor dynamics and evolving RP/LME strategies are reshaping deal execution across key jurisdictions.

• How is antitrust scrutiny influencing cooperation agreements, lender coordination, and restructuring tactics?
• The latest trends in UK RPs and cross‑border LMEs – and what they mean for creditor strategy
• Intercreditor tensions and voting dynamics
• Practical implementation routes in complex restructurings: co‑ops, RPs, LMEs, and hybrid solutions

Participants will exchange ideas, best practices and experiences in informal, interactive small‑group discussions focused on geopolitical developments and their impact on restructuring and insolvency outcomes.

Topics
Energy crisis as a stress test for restructuring legislation in Europe Rita Gismondi, Senior Legal Counsel, ENEL
Have recent geopolitical shocks increased the importance of information - and misinformation - in restructurings? Ksenia Galouchko, Director, Greenbrook 
Guns Before Butter – Will European re-armament trigger the next wave of restructuring, or prevent it? Amanda Blackhall O’Sullivan, Managing Director, Interpath
“China Shock” How  is the boom in Chinese exports of advanced technologies impacting the global restructuring market and the political and commercial responses Caroline Platt, Senior Associate, Freshfields
The rise of cross-border restructuring and “forum shopping” in light of recent geopolitical and legal / jurisdictional developments Julia Marshall, Senior Director, Alvarez & Marsal
From the Strait of Hormuz to the Next Wave of Distress: Assessing the impact of the Iran conflict on Global Markets, Liquidity and Corporate Distress  Manpreet Khehra, Special Counsel, Milbank  

Each facilitator will share one key takeaway from their roundtable discussion with the audience.

NAV lending is rapidly increasing for UK and European restructuring experts. The discussion will  assess its market momentum, core structural considerations, and the evolving landscape of NAV lending.

• Why NAV lending is gaining traction among UK and European fund managers
• Structural considerations, pricing trends, and the role of institutional lenders
• Legal and regulatory nuances for UK‑based borrowers and lenders
• How NAV lending aids a challenging fundraising and exit environment