Professional Interest Group Activities
Insolvency
Interest Group (IIG)
Lunch Seminar
CIRCULATION TO IIG MEMBERS ONLY
| Topic | : |
Credit Default Derivatives |
| Speaker | : |
Mr. Terry Bond, Executive Consultant, RSMi |
| Chairman | : |
Mr. Nicholas Hill, Managing Director, RSM Nelson Wheeler Corporation Advisory Services Ltd. |
| Date | : |
Thursday, 13 November, 2003 |
| Time | : |
1:00
p.m. - 2:00 p.m. (Sandwiches and beverages will be served at 12:45 p.m.) |
| Venue | : |
Lecture
Theatre 8/F, United Centre 95 Queensway Admiralty, Hong Kong. |
| Admission Fee | : |
HKD130
per person for IIG members HKD200 per person for non-IIG members |
| HKICPA CPD Credit Hour | : |
1 hours |
| Law Society CPD Credit Point | : |
1 (Intermediate) |
About the Seminar
Credit default derivatives are derivatives whereby a (normally a bank)
lender sells his economic interest in a debt. The consequences of this are
that the lender remains the named lender but has no interest in the financial
outcome of the restructuring, this having passed to an insurer or other third
party. However because these agreements frequently require the lender to maintain
confidentiality, the lender will sit at the negotiating table with other lenders
without being able to tell them he has sold his interest in his debt. This
in turn leads to complications from non-bankers "pulling the strings"
at the negotiating table and friction arising from other bankers becoming
upset that the bank who has sold the interest in his debt is not acting like
a "banker”.
About the Speaker
Terry Bond is the RSMi Executive Consultant responsible
for RSMi's international financial and banking services. Terry was previously
the Head of the Large Corporate Restructuring and Recovery Division of Barclays
Bank PLC ("Barclays") and in 2002 and 2003 was the Chairman of the
INSOL Lenders' Group.
During his time with Barclays, Terry maintained key responsibilities for all
major international and cross border distressed or non performing loans and
the strategic assessment and reviews of the loan and non-performing loan portfolios
of Barclays and other European financiers. He was also directly responsible
for numerous international restructurings in a wide range of industries.
Registration
The admission fee for attending the lunch seminar is HKD130
per person for IIG member and HKD200 per person for non-IIG
member. The number of places is limited and priority will be given to IIG
members on a first-come-first-served basis in case of over-subscription.
For members who wish to attend the lunch seminar, please complete the attached
reply slip and return it by fax for
registration on or before Tuesday, 11 November 2003 and then follow by mail
to the Professional & Technical Department of the Society, together with
a cheque payable to "Hong Kong Institute of Certified Public Accountants". For enrolment
by fax, remittance must follow within 5 days of fax booking or else booking
will be cancelled.
No further confirmation letter will be sent out unless your reservation of seat is unsuccessful. Should you have any questions on the above, please do not hesitate to contact Ms. Karen Moy, Administrative Officer of the Professional & Technical Department at 2287 7089 in the first instance.