Ça va sans dire: with 12 deals on our restructuring database at various stages, from watchlist to in progress, and six completed so far this year, France remains the most active distressed market in continental Europe. That made it the obvious place for 9fin's first Paris restructuring panel — hosted at White & Case's Place Vendôme office on Monday 21 September — to take stock of the strategies shaping the market right now.
During the lively discussion, moderated by our senior reporter Bianca Boorer, speakers Anne-Sophie Noury, head of Paris restructuring at White & Case; Arnaud Joubert, global co-head of restructuring at Rothschild & Co; and Matthias Sustek, investment director at Farallon Capital, explained the recent wave of creditors taking the keys, why aggressive LMEs are unlikely to become part of the French system, why conciliation remains a clear favourite, and what to expect from a year of heated elections.
Creditors in charge
The wave of debt-for-equity swaps 9fin has tracked over the past 18 months — Colisée, Kem One, Ingenico among them — traces back to LBOsstruck in Covid-time and cheap-money years on theses that macro, rates, and regulation have since...
