Session Details Page | International Bar Association

5th IBA Global Entrepreneurship Conference

20 May - 21 May 2019

Odds Fellow Mansion

Session information

Workshop 2: Financing growth: trends and challenges

Tuesday 21 May (0930 - 1130)

Odds Fellow Mansion

Committee(s)

Closely Held Companies Committee (Lead)
Corporate Law Section (Lead)
Legal Practice Division (Lead)
Corporate and M&A Law Committee
Employment and Industrial Relations Law Committee
Intellectual Property and Entertainment Law Committee
Professional Ethics Committee
Regional Fora
Regional Fora
Technology Law Committee
Women Lawyers' Committee

Description

This interactive workshop-session will explore the challenges and trends in financing models and terms. The discussion will focus on the numerous routes to financing for closely held and growing companies, both classic and new models, recent experiences with these models, and the role of the lawyer in choosing and implementing the right model for the client. How can we as lawyers continue to add value and ensure appropriate legal certainty to our clients in each of these models? In the first part of the workshop, delegates will work in breakout groups to discuss the number of topics, including the following: • New players as alternative to banks. Emergence of lending marketplaces • Advantages and disadvantages of debt financing and equity financing of small business/start ups • Crowdfunding versus business angels • Financing by private equity investors and other funds eg, sovereign funds • Getting your business bank debt ready. How to act for borrowers when seeking bank funding • Forms of mezzanine capital and their implications on closely held businesses • Equity and debt capital market trends • Invoice factoring, suppliers and other commercial financing • Alternative forms of financing (loans with profit participation, convertible loan, warrants and other hybrid instruments) • Role of due diligence in various types of financing. Trends on opinions and counsel reports (reliance versus release letters) • Trends in loan documentation and terms • Trends in disputes with banks over financing (interest swaps, delay interests, abusive terms, etc.) • Restructuring and refinancing debt • Personal guarantees vs security • Shareholder financing and security related party transactions regulations and insolvency issues in connection therewith The results of the breakout groups’ work will be presented and discussed in the second part of the session.

Session / Workshop Chair(s)

David Ayache	Mayer Brown, Paris, France
Alessandro Barzaghi	COCUZZA, Milan, Italy; Newsletter Coordinator, International Commerce and Distribution Committee
William Bierce	Bierce & Kenerson PC, Mount Kisco, New York, USA
Bjarte Bogstad	Bull & Co Advokatfirma AS, Oslo, Norway
Nigel Clark	nexa law, London, England
Ivan Delgado	PEREZ-LLORCA, Madrid, Spain; Scholarship Officer, Closely Held Companies Committee
Christophe Durrer	Wuersch & Gering, New York, New York, USA
Linda Funck	Elvinger Hoss Prussen société anonyme, Luxembourg City, Luxembourg
Christian Gregersen	Kromann Reumert, Copenhagen, Denmark
William Howard	Travers Smith, London, England
Anne Cathrine Ingerslev
Natalija Lacmanovic	Law Office Lacmanovic , Zagreb, Croatia; Vice Chair, Creditors' Rights Subcommittee
Andrea Metz	Barckhaus, Frankfurt, Germany
Marco Paruzzolo	Chiomenti Studio Legale, London, England
Chantal Pernille Patel	Gorrissen Federspiel, Copenhagen, Denmark
Alejandro Payá	Cuatrecasas, Barcelona, Spain; Vice Chair, Closely Held Companies Committee
Horacio Vianello	BC \| F \| PZ Abogados, Buenos Aires, Argentina
Heinrich von Bünau	METIS Rechtsanwälte , Frankfurt, Germany

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