To reflect the increasing trend of using insolvency tools to implement restructuring transactions and the natural overlap between insolvency practitioners and restructuring professionals, we have combined the two Insol Europe groups – the Turnaround Group and the IOH Forum – to ensure the broadest and most relevant issues can be discussed.
The original purpose of the forums was to bring the Turnaround professionals and, separately, Office Holders together to discuss and react to issues and challenges facing each profession throughout Europe. Since its inception, the Groups have given their members the platform to debtate and challenge key issues of the day, but we recognise the restructuring market has moved on. Whilst there are still significant cross border cases that are worthy of a discussion and which will continue to be discussed, increasingly these cases have been preceded by advisory work involving substantially the same practitioners in each jurisdiction. The Insol Europe TRIP Group is designed to reflect that changing market place.
In addition, the collaboration between the advisory and the insolvency profession has been critical in unlocking complex situations. In some scenarios, a lack of appreciation for core and immutable procedural and jurisdictional matters on the one hand, versus a desire for a commercial solution on the other has lead to expensive and often unnecessary disputes. The combined TRIP Group therefore seeks to remove these barriers to provide all restructuring professionals with an open forum to share experiences, discuss best practice and recent case precedent (whether legal or commercial) and ultimately ensure the restructuring profession delivers and continues to deliver what it is designed to do – recover best value for creditors in a just and equitable manner, and to restructure, turnaround & save businesses when possible.
The current co-chairs of the group are:
The original purpose of the forums was to bring the Turnaround professionals and, separately, Office Holders together to discuss and react to issues and challenges facing each profession throughout Europe. Since its inception, the Groups have given their members the platform to debtate and challenge key issues of the day, but we recognise the restructuring market has moved on. Whilst there are still significant cross border cases that are worthy of a discussion and which will continue to be discussed, increasingly these cases have been preceded by advisory work involving substantially the same practitioners in each jurisdiction. The Insol Europe TRIP Group is designed to reflect that changing market place.
In addition, the collaboration between the advisory and the insolvency profession has been critical in unlocking complex situations. In some scenarios, a lack of appreciation for core and immutable procedural and jurisdictional matters on the one hand, versus a desire for a commercial solution on the other has lead to expensive and often unnecessary disputes. The combined TRIP Group therefore seeks to remove these barriers to provide all restructuring professionals with an open forum to share experiences, discuss best practice and recent case precedent (whether legal or commercial) and ultimately ensure the restructuring profession delivers and continues to deliver what it is designed to do – recover best value for creditors in a just and equitable manner, and to restructure, turnaround & save businesses when possible.
The current co-chairs of the group are:
- Robert Haenel (Germany)
- Dr. Dennis Cardinaels (Brussels)
- Xavier Garcia Esteve (Spain)
- Christophe Thevenot (France)