Colliers International was invited to participate in WJ’s Group 4th edition Debt & Restructuring Forum, which took place in Vienna on June 27th 2019. Attending the Forum were leading companies and professionals in areas of global investment, banking, real estate advisory, debt management, law and finance.
Participants were able to get firsthand insight into the current state of distressed debt and its restructuring across Europe, with an emphasis on Greece, the Balkans and Southeast Europe. Topics which were addressed by experts included Investors’ Outlook, NPL Transaction Platforms, NPEs, Developments in Greece, Turnaround & Corporate Restructuring Strategies, Southeast European Markets as well as a Review of Western European High Yield Markets.
Ana Vukovic, Managing Director for Greece & Serbia at Colliers International, participated as a speaker on the panel for “Developments in Greece”. Joining her were Karel Smerak (Director NPL Transactions Eastern Europe at EOS Holding GmnH), Gordon Kerr (Senior Vice President, Head of European Research at DBRS Ratings), Theodore Rakintzis (Partner at Kyriakides Georgopoulos Law), Dimitris Skaleos (Managing Partner at Sigma Catalyst Partners) and Dimitris Emvalomenos (Partner of the law firm Bahas, Gramatidis & Partners).
The discussion was centered on the non-performing loans (NPLs) trading market in Greece and its future outlook. The panel elaborated on the potential of the real estate market to absorb portfolios which were subject of transactions in the previous 18 months, considering that a huge percentage of NPLs still remains in the Greek market that will eventually need to be tackled in order to deleverage the banking system. The main take-away from the panel was centered on the challenges that are presented by the NPLs and the steps that need to be taken by the Greek State, Financial Institutions and Advisory firms to overcome them in an efficient and transparent manner as supported by the changes in the legal and restructuring framework.
With expertise in segmented disposal strategies across the region, Ana highlighted the importance of a structured approach in managing and assessing these portfolios: “A strategic long-term integrated approach is needed when trading and disposing NPL portfolios. Unlocking the right strategy is key to managing these portfolios by taking into account not just the discount of the loans and value of the portfolio itself but also by leveraging asset management strategies from the very beginning. This is a crucial step, supported by the financial, technical and legal due diligence processes in order to ensure the portfolio’s future absorption and prevent unreliable evaluations and non-sustainable management techniques and strategies.”
Other participants in Vienna were market leaders and experts from across Europe. Along with Colliers International, participating and contributing companies at the Forum were Fortenova Grupa, RealCorp Capital, Trace Capital Advisors, Kyriakides Georgopoulos Law Firm, Panteo Global Partners, AnaCap, Kinstellar, SORTIS Group, Raiffeisen Bank International, Rihm Attorneys at Law, CBRE, HBSC, Sberbank, LNG Capital, Loan Market Association, Schottentor Capita, Sigma Catalyst Partners, Debitos, Gramatidis & Partners, Wigan Acquisitions and Alpaha Consulting,
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