SNS/SHoF Finance panel: How can liquidation of viable corporations be avoided?
Rates of corporate insolvency and distress are rising in Sweden, Europe and globally, making well-functioning systems for managing corporate insolvency ever more important. Recent EU reforms have pushed for national insolvency frameworks that enable reconstruction of viable corporations, rather than liquidation.
The seminar gave an update, addressed case studies and highlighted issues such as:
- How effective is the new corporate restructuring law in preserving value and supporting healthy credit markets?
- How does the current regulatory framework work for larger corporates compared to SMEs?
- The reconstruction of Sushi Yama.
Lars-Henrik Andersson, partner at Cirio law firm. Andersson was a reconstructor in the corporate reconstruction of the Sushi Yama group last year, one of the first major cases under the new Swedish restructuring law.
Bo Becker, Cevian Capital Professor of Finance at the Department of Finance at the Stockholm School of Economics and Director of Swedish House of Finance. Professor Becker's research is on corporate finance, especially corporate credit markets, credit ratings and insolvency.
Erik Selander, partner at the global law firm DLA Piper, member of the World Bank Insolvency Task Force. Selander, together with associate professor Johan Sandstedt, heads the Research Department for Insolvency Law with Property Rights at the Stockholm Center for Commercial Law (SCCL) at Stockholm University.
Louise Sjödahl, reconstructor and bankruptcy administrator at Ackordscentralen, a nationwide organization specialized in corporate reconstructions and insolvency cases. Sjödahl was an expert in the Reconstruction Inquiry.
The seminar was held in swedish and moderated by Pehr Wissén, PhD, Professor Emeritus of Practice, Swedish House of Finance.