dubai crs2016

Dubai will host the Corporate Restructuring Summit (CRS) 2016 which will be the first event of its kind in the GCC region that will address the challenges of restructuring & strategic reorganization in finance and debt related issues. The critical insights thus gathered will thereby enable organizations with new perspectives to effectively tackle corporate needs.

The Summit will take place on the 8th & 9th of November 2016 at the Dusit Thani Hotel, Dubai, UAE.

The November Summit will inaugurate a series of annual summits, each one focusing on a specific area of corporate restructuring: Strategic, Financial and Operational restructuring. Its agenda is oriented around Financial Restructuring, with an exclusive focus on Debt Restructuring and Financial Workouts.

Globally, corporate workouts & restructuring have become a prevalent practice to help organizations with troubled balance sheets to combat debt delinquencies and defaults. In the Middle East, an estimated US$12 Billion worth of bad debt has been restructured in the past 5 years and a whopping US$78 Billion worth of debt restructuring will be required in the next two years in the UAE alone, according to International Monetary Fund (IMF). The Summit will therefore focus on the challenges that financial institutions face in tackling bad debt, and discuss the opportunities available for financially troubled corporates in the Middle East to remain sustainable.

Furthermore, the ratio of Non-performing Loans (NPLs) to total credit at banks in the Middle East is currently on the rise and is alarmingly above than the average level. One of the major reasons for this increase is the significant number of loan defaults by Small and Medium-Sized Enterprises (SMEs) in the region, which themselves constitute the backbone of many economies. Given this reality, the Summit will focus on providing opportunities for organizations to position itself for growth, increase cash flow and prevent itself from falling into insolvency and bad debts. As such, the Summit will converge key industry players under the aptly-worded theme of "Financial Distress & Managing Remedial Credit".

Speaking ahead of the event, Ehsan Abbas, Chairman of Middle East Global Advisors, spoke on the significance of organizing such an event in the Middle East: "Banks are among the biggest lenders to corporates and hence are most exposed to the potential negative effects of delinquent or bad debts. It is therefore important to facilitate an enabling environment for these banks and lenders to encourage financial workouts and provide an industry-wide perspective that will help decision makers in their strategic planning."

The Corporate Restructuring Summit (CRS) 2016 is a 2-day event that will gather banks, corporates, regulators, risk specialists and debt restructuring specialists onto one platform, and will take place on the 8th and 9th of November in Dubai, UAE.

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