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 |