Letter from America

While the Australian insolvency industry may be experiencing a period of calm before the storm, US bankruptcy courts have already experienced a deluge of major chapter 11 cases as a result of COVID-19.

In this special breakfast webinar, Richard Kebrdle and Kathryn Sutherland-Smith from White & Case in the US will provide an overview of the impact of COVID-19 on US markets and discuss recent restructuring trends that may be a sign of things to come for Australia, once government relief measures expire. Discussion topics include:

• COVID timeline in the US

• Impacted industries with a focus on the Oil & Gas sector

• US Congressional and Federal Reserve assistance programs

• Market observations, the recover outlook and the path to reopening in the US.

Guest speakers

Richard Kebrdle

Partner in White & Case LLP’s Financial Restructuring and Insolvency practice in the US

Richard represents debtors and creditors in a variety of restructuring matters,
including chapter 11 cases and cross-border matters. Working with teams of lawyers across the US, as well as the Firm’s international offices, he advises creditors and distressed investors on their efforts to protect and maximise recoveries and assists distressed companies in the reorganisations of their capital structures.

Richard has significant experience in international and cross-border restructuring matters and has advised on the global restructuring strategies of Constellation Oil (a Brazil-based oil & gas company); Oi S.A. (the Brazilian telecom giant); OAS S.A. (a Brazil-based construction company); Aralco S.A. (a Brazilian sugar and ethanol producer); and Sifco S.A. (a Brazilian auto parts manufacturer); as well as New World Resources (a UK-based coal producer) in its successful chapter 15 case; Rede Energia S.A. (a Brazilian power producer); in its successful chapter 15 case; TORM (a Danish shipping company) in its successful out-of-court restructuring; and the Ad Hoc Bondholder Group in Elpida Memory’s chapter 15 case.

Kathryn Sutherland-Smith

Associate in White & Case LLP’s Financial Restructuring and Insolvency practice in New York

Her practice involves representing debtors and creditors in a variety of corporate restructuring matters, including cross-border reorganisations, chapter 11 cases and distressed investments. Kathryn’s recent cross-border representations include acting for Constellation Oil Services Holding S.A. (formerly QGOG Constellation S.A.) and its subsidiaries in their US$1.5 billion cross-border restructuring centered in Brazil and supported by ancillary proceedings in the US and the British Virgin Islands, and advising the US-based bid financier in connection with the acquisition of certain entities and assets of the Sargon group from its Australian voluntary administrators.

Prior to joining White & Case New York, Kathryn practiced in Melbourne,  for several years. Kathryn was recognized as the Victorian Insolvency and Restructuring “Young Gun” of the year in 2017 for her insolvency litigation representations, roles on complex Australian restructuring cases and contribution to Australia’s successfully enacted “safe harbor” and “ipso facto” insolvency law reforms. Kathryn has also been named a Banking and Financial Services Law Association (Australia and New Zealand) scholar in connection with her contribution to thought leadership in the Australian insolvency industry.