Translating international turnaround lessons for the Australian market
Le Langage de Redressement, El Lenguaje de la repuesta, لغة التحول
Wednesday 25th August 2021
1:00 pm - 2:00 pm
The law, judicial system, culture, lifespan and government of each country are some of the key components that mixed together deliver a country’s unique turnaround environment.
Whilst an organisation’s issues may be similar across different countries, the methodology around how to address those issues can vary significantly. So the approach in the UAE, a country that is less than one hundred years old, is likely to be very different to France, which is hundreds of years old.
Neither good nor bad – just different. These different environments result in different approaches to turnaround. Often leading to lessons that could be learned and used in other jurisdictions to create value.
Mark Dewar, Australia Leader of FTI Consulting and Neil Hayward, Partner in KordaMentha’s Sydney turnaround team have been delivering operational turnarounds for their clients in Australia, Europe, the UK, US and Middle East for the last 20 years. They will talk through their views on:
- Turnaround in the different jurisdictions they have worked in
- Lessons that could be used in the Australian market
- What is next for the Australian Turnaround market
Australian Practice Leader, FTI Consulting
Mark Dewar has more than 20 years of experience principally advising corporations, private equity investors and junior debt providers. Mark’s focus is in helping clients who are undergoing significant change, either throughout or as a result of a transaction, or through a period of under-performance.
The services Mark provides include advice on complex financial restructurings, preparing or reviewing forecasts, providing cash management and performance improvement services and advising investors who have exposure to, or are looking to invest in underperforming or distressed assets.
Mark’s assignments have included advising the Australian Board of the world’s largest private coal company while its parent was in Chapter 11, advising on the carve out and merger of two of Australia’s largest office supplies businesses, advising the board of a Cypriot Bank through the Greek financial crisis and supporting various hedge funds in the investment in distressed assets in Greece, Ireland, Iceland and Spain.
Prior to joining FTI Consulting, Mark was a director in the London Corporate Finance practice at Ernst & Young and prior to that Mark worked for a FTSE 100 IT services company and for Credit Suisse First Boston in New York. He commenced his career in Australia, where he worked in the Audit practice at Ernst & Young.
Partner, KordaMentha Corporate
Neil helps clients rapidly and sustainably improve EBITDA and cash through operational improvements to optimise the value of their organisation.
Neil works alongside boards and management teams as a senior advisor to identify and then execute a turnaround or transformation plan. Often taking leadership roles. As an example he is currently the director of a private equity fund and a mining business to assist with their turnarounds.
Neil is a partner in KordaMentha’s Corporate turnaround team in Sydney and spent the past twenty plus years in similar roles for Alvarez & Marsal in the Middle East and PwC in the Middle East, US, Europe and the UK.
Director, Special Situations Investments, Gordon Brothers
Samantha joined Gordon Brothers in 2020 and is responsible for special situations investments and lending opportunities across all industries in Australia. In her role, she will oversee transactions from initial concept and origination to deal execution and portfolio management. Samantha is a results-orientated executive with over 15 years of experience delivering creative financial and restructuring solutions for businesses facing complex liquidity and operational challenges. Samantha understands stakeholder intricacies and works closely with clients to assist them in implementing transformation and turnaround initiatives.
Her background as a workout banker and a restructuring and insolvency professional has provided her with the essential skills to understand business fundamentals and capital requirements. Most recently, Samantha headed an Australia wide team at National Australia Bank that managed the bank’s SME-client impaired asset portfolio. Prior to this, Samantha was an Executive Director at KordaMentha, where she advised clients and stakeholders on financial and operational restructuring scenarios and played pivotal roles in some of Australia’s most high-profile restructuring engagements.
Wednesday 25th August 2021
1:00 pm - 2:00 pm