The third annual Corporate Restructuring Summit (the ‘Summit’) was held yesterday in the Convention Centre Dublin. In conjunction with law firm A&L Goodbody and insolvency advisory firm, kavanaghfennell, a number of domestic and international experts addressed the range of challenges facing Ireland. The Summit was attended by approximately 300 delegates. A number of comments, on restructuring, the disposal of Irish assets and Ireland’s prospects for recovery are included below for reference.

Tom Kavanagh, Partner, Kavanagh Fennell, commented:
"While the banks in Ireland are nearing the completion of their assessment of property related loan books, it is now an opportune time for borrowers, and their banks, to engage in a consensual debt restructuring process, to ensure the future viability of the borrower's business."

David Baxter, Restructuring Partner, A&L Goodbody, commented:
“The level of interest of foreign investors into distressed Irish situations is encouraging notwithstanding the challenges presented by the Eurozone debt crisis and the opportunities in other jurisdictions (primarily Asia and Latin America)."

Nils Melngailis, Managing Director, Alvarez & Marsal commented:
“Ireland is a relatively safe haven. I’m sure the economy will be much better next year.”

Brendan McDonagh, CEO NAMA, commented:
“It is not in the Irish taxpayers’ interest to fire sale assets.”

Summit Speakers included:
- Alan Dukes, Chairman, Anglo Irish Bank
- Tom Kavanagh, Partner, Kavanagh Fennell
- David Baxter, Partner, A&L Goodbody
- Jon Moulton, Chairman, Better Capital LLP
- Justin Bickle, Managing Director, Oaktree Capital
- Paul Duffy, Global Head of Debt Advisory, Rothschild
- Nils Melngailis, Managing Director, Alvarez & Marsal
- Brendan McDonagh, CEO, NAMA

Summit Co-Chairs / Moderators:
- Bernard Somers, Chairman, Somers & Associates
- Paul Gallagher, SC

Click here for further information and to view presentations from The Corporate Restructuring Summit