RAUD at the conference on “Debt restructuring. Debt and pledged assets management”

Debt restructuring was a question under discussion at the conference held on April 29, 2010 in the Angleter Hotel in Saint Petersburg by “Vedomosti” business paper. The parties involved into the business meeting: representatives of the financial field – those providing loans, and entrepreneurs – those obtaining credits for their business. Besides, lawyers participated in the discussion. RAUD, LLC was represented by senior partners T. Piletskays and S. Zimin.
The meeting was opened by the Board Deputy Chairman of BFA Bank Dmitry Istyufeev who told about the interaction of the bank and the debtor regarding debt obligations, including complex ones. He noticed that in 2010 the banks’ receivables growth rate compared to 2009 has decreased. According to Mr. Istyufeev, for the last 5-6 quarters banks have received a lot of distressed assets: land, real estate, enterprises, aircrafts and sea vessels. In his opinion, during the second half of the year 2010 the banks should reduce the amount of non-core assets, also making discounts, and turn to the main bank activities. In response to this offer RAUD senior partner Tatyana Piletskaya mentioned that banks are unwilling to reduce prices for pledged property and appealed the banks representatives to be more flexible in this regard.
The financial director of “Atlant-M” holding Alexey Samodurov speaking on the enterprise’s practice in terms of debts restructuring mentioned that currently banks start to “talk” to borrowers. Mr. Samodurov also wished banks to trust their borrowers more and consider viability of business models of their clients when providing loans.
The manager of “Theorema” Holding Igor Vodopyanov also shared the experience of interaction with creditors. As he said, the most complicated relationships in terms of crediting are the ones with western investment funds.
The problem of interaction of collection agencies with court bailiffs and court bodies was raised in the speech of the founder of the Baltic Collection Agency Pavel Borodkin. In his opinion the most efficient way to resolve debt issues is to prevent the debt incurrence.
Reports were also made by the partner of “S&K Vertical” law company Andrey Mikonin and the deputy general director on strategic development and management consulting of Avers group Elena Lazareva. In particular, they told about creditor’s risk in case of voluntary restructuring and about the role of consultants in distressed assets management.
The topic discussed in the business meeting excited a vivid interest of the participants: the concerned parties exchanged opinions, shared ideas and asked burning questions.

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