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MENA’s Pre-Eminent Financial Restructuring Summit Returns to Dubai This September

MENA’s Pre-Eminent Financial Restructuring Summit Returns to Dubai This September

Dubai: Middle East Global Advisors, a leading financial intelligence platform spearheading the development of knowledge-based economies in the MENASEA markets, will convene The 2nd Annual Corporate Restructuring Summit (CRS 2019) – the MENA region’s pre-eminent Debt Restructuring and NPL-focused Summit, in strategic partnership with Abu Dhabi Global Market (ADGM) on September 11-12 at the Address Dubai Mall in Dubai, UAE. Addressing the theme of “Emergence of New Alliances: Managing Debt & Non-Performing Loans”, the summit’s vision is to facilitate an enabling environment to address the key challenges associated with financial restructuring of corporate debts, effective management of non-performing assets and enabling capital adequacy and profitability through exploring mergers & acquisitions. As a strategic partner of the Summit, Steve Barnett, Executive Director, Business Development, Abu Dhabi Global Market said, “In today’s complex and increasingly volatile marketplace, companies need a stable and conducive environment to grow their businesses. As an innovative and progressive International Financial Centre, ADGM provides a holistic suite of business and licensing solutions, a robust regulatory platform and world-class legislation for entities and corporates to operate efficiently, restructure their business effectively and achieve their ambition in Abu Dhabi, the Middle East and beyond. We look forward to meeting the banks, corporates, funds and restructuring specialists to discuss and exchange insights of current challenges of restructuring and strategic reorganisation of finance and debt-related matters.” Following the oil price slump in 2014, numerous industry sectors – predominantly oil & gas, real estate and construction experienced substantial liquidity shortage, leaving corporates heavily invested in these sectors and reliant on Government spending with diminishing profits and an inability to service existing debt exposures and project finances, spiking up the region’s NPL portfolios. In consequence, corporate workouts and financial restructuring have become the norm to aid organizations with troubled balance sheets to combat debt delinquencies and defaults. The recent wave of restructuring reforms in the GCC with UAE issuing the Bankruptcy Law in 2016 – the first of its kind in the region and one at par with international insolvency standards – aims at modernising the existing regime to offer debtors greater opportunities for reorganisation, provide simplified liquidation process, ensure fair treatment of creditors, all of which will boost investor confidence enabling FDIs into the region. Economic stability continues to be a high-priority for the UAE with His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minster of the UAE and Ruler of Dubai, enacting a new DIFC Insolvency Law that will come into effect in August 2019 as it aims at balancing the needs of all stakeholders in the context of distressed and bankruptcy related situations in DIFC. Adding to the ongoing wave of regulatory reforms in GCC’s financial sector, Saudi Arabia and Bahrain introduced their respective bankruptcy laws in 2018, encouraging corporate reorganisation over liquidation. In Saudi Arabia, with the National Transformation Programme 2020 and Vision 2030 setting the stage for major transformation with the aim of optimizing the Kingdom’s business & investment climate, the Bankruptcy Law was introduced as part of Saudi Arabia’s regulatory reforms with the aim of further strengthening the Kingdom’s business environment. To broaden the perspective on Saudi Arabia’s transformation drive, the summit will see an Opening Keynote address by Dr. Fahad Alshathri, Deputy Governor – Supervision, Saudi Arabian Monetary Authority (SAMA) assessing the state of the credit market and measuring the impact of corporate debt on the global and regional economy. The summit will also play host to Mr. Majed Al-Rasheed, Secretary General, Bankruptcy Commission as he shares insights in the Regulators’ Panel focusing on Driving economic growth via FDIs, M&As and minimizing bad debt portfolios. Among the first organizations to avail and benefit from the Saudi Bankruptcy Law, was Ahmad Hamad Algosaibi & Brothers (AHAB), in their bid to achieve successful financial restructuring involving 100+ creditors, following a 10-year long settlement process. Speaking ahead of the Exclusive CEO’s panel, Simon Charlton, Chief Restructuring Officer & Acting Chief Executive Officer, Ahmad Hamad Algosaibi & Brothers said, “The process of social and economic reform in Saudi Arabia under the guidance of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz continues with pace. One of the more significant economic/business developments in the past twelve months has been the enactment of the new Bankruptcy law. Since the beginning of 2019 we have seen the first uses of the New Saudi Arabian Bankruptcy Law; debtors and creditors are availing themselves of the tools and protections of this new law. There are a number of very high profile cases currently before the courts and this is a serious and robust test of this new law and there is significant interest in Saudi Arabia and internationally as to how effective the new procedures for protective settlement, financial restructuring and liquidation will be and how the courts and the various professionals involved particularly Bankruptcy trustees will perform.” Speaking ahead of the regulators panel, Adnan Ahmed Yousif, Chairman, Bahrain Association & Banks and President & Chief Executive, Al Baraka Banking Group expressed, “In the wake of several countries that have had the misfortune of succumbing to the aftermath of a financial crisis, difficulties faced by financial institutions and corporates, and resulted accumulation of NPLs, the 2nd Annual Corporate Restructuring Summit gains substantial importance for both financial institutions and regulators and other governmental bodies. I am honored to be part of an esteemed panel and look forward to discuss Bahrain’s efforts in fostering a supportive environment for businesses in varying stages of its lifecycle, a strong factor that will attract FDIs into the region. In addition, I would like to discuss the different strategies adopted by Bahraini Banks to combat the challenge of NPLs, asset quality and capital adequacy.” If the challenge of rising non-performing assets is not addressed, it can cripple banks’ cash flows and lending abilities, with serious negative consequences reflected throughout the economy. As banks look for ways to clean their balance sheet and dispose non-core assets, they drive opportunities for mergers and acquisitions (M&As) and establishment of distressed loan sale market for potential buyers and sellers. Speaking ahead of the panel on Managing NPL portfolios & driving down regional average, Manoj Chawla, Group Chief Risk Officer, Emirates NBD said, “As the MENA market becomes more sophisticated with respect to debt restructurings there are new and innovative solutions to address the NPL portfolio of local lenders. We are increasingly seeing local lenders explore portfolio-based solutions, debt for equity swaps, secondary market sales and litigation financing as means to address their ever growing NPL books. The local banks are now also better equipped than earlier to deal with distressed situations with experienced work out teams and more advanced risk management procedures. Lenders are also identifying issues early and seeking to work with their customers to address problems in an objective manner.” Key Industry Veterans from leading banks and corporates will headline The Corporate Restructuring Summit 2019 as it aims to spearhead discussions gravitating around the three high-stake areas of effective NPL management, debt restructuring and Mergers & Acquisitions.The confirmed industry leaders at the summit include: Dr. Fahad Alshathri, Deputy Governor – Supervision, Saudi Arabian Monetary Authority (SAMA); Tareq A. Al-Sadhan, Chief Executive Officer, Riyad Bank; Richard Hinchley, Chief Risk Officer, The Saudi British Bank (SABB); Mike Grant, Chief Restructuring Officer, Drake & Scull; David McDiarmid, Partner, Resolute Asset Management; Bruno Navarro, Senior Adviser, Rothschild, Managing Director, IPSO FACTO; Richard Clarke, Senior Vice President – Business Development and Mergers & Acquisitions, GEMS Education; Mohammed Riaz, Head of Financial Restructuring Department, Kuwait Finance House Bahrain; Esteban Buljevich, Head of Special Assets & Restructuring Department, Abu Dhabi Commercial Bank; Naveed Kamal, Corporate Bank Head Middle East & North Africa (MENA), Citi; Amine Antari, Managing Director, Kroll & Sassan Hatam, Partner, Roland Berger, among others. Key Features at CRS 2019 include: Keynote Addresses on bolstering economic growth in the MENA by fostering a conducive environment for doing business & transaction forecasts for MENA 2021; Exclusive CEO’s Panel analyzing some of MENA’s biggest workouts; Regulators Panel on driving economic growth via FDIs, M&As and minimizing bad debt portfoliosKey Panels focused on mergers, acquisitions and divestiture, distressed investing and NPL servicing platforms, managing NPL portfolios and driving down regional average & more. Partners at CRS 2019 include Resolute Asset Management, Eyad Reda Law Firm, Roland Berger, Kroll & Omni Bridgeway. The summit’s Bankruptcy Regulatory Partner is Bankruptcy Commission, Association Partner is Saudi Banks while CNBC Arabia is the Official Broadcast Partner. The summit is expected to draw participation from over 300 prominent banks, corporates, legal-advisory firms, hedge funds, investment banks and debt restructuring specialists from across the MENA onto one platform by spearheading actionable debate, impactful change and high-level outcomes. To find out more about CRS 2019, please visit: www.crs19.com Join the global conversation on Twitter at: @CorpRS #CorpRestructure19 ABOUT THE CORPORATE RESTRUCTURING SUMMIT (CRS) The Corporate Restructuring Summit is an initiative of Middle East Global Advisors, the first of its kind that aims to explore innovative approaches to corporate debt restructuring and NPL management in context of the complex market dynamics in the Middle East North Africa (MENA) region. The summit will gather banks, corporates, legal-advisory firms and debt restructuring specialists from across the MENA onto one platform by spearheading actionable debate, impactful change and high-level outcomes. To find out more, visit www.crs19.com  or follow us on Twitter @CorpRS ABOUT MIDDLE EAST GLOBAL ADVISORS (MEGA) Connecting markets with intelligent insights & strategic execution since 1993 Middle East Global Advisors (MEGA) is the leading gateway connectivity and intelligence platform to Islamic finance opportunities in the rapidly developing economic region that stretches all the way from Morocco in the West to Indonesia in the East- The Middle East North Africa Southeast Asia (MENASEA) connection. For 26 years, our exclusive focus on achieving business results for the Islamic finance industry has enabled us to create significant value for the leading players in the Islamic banking, finance and investment markets. Visit us at www.meglobaladvisors.com  or follow us on Twitter @meglobaladvisor Aanchal Dhawan Marketing Manager Middle East Global Advisors Tel: +971 4 441 4946 Email: aanchal@meglobaladvisors.com
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Burford Issues YPF Litigation Update Ahead of Pivotal Appeal Hearing

By John Freund |

Burford Capital has released a detailed investor update ahead of a key appellate hearing in its high-profile litigation against Argentina over the renationalization of YPF.

According to Burford’s press release, oral arguments in the consolidated appeal—referred to as the “Main Appeal”—are scheduled for October 29, 2025, before the US Court of Appeals for the Second Circuit. The hearing will address Argentina’s challenge to a $16 billion judgment issued in 2023, as well as cross-appeals concerning the dismissal of YPF as a defendant. The release outlines the appellate process and timelines in granular detail, noting that a ruling could come months—or even a year—after the hearing, with additional delays possible if rehearing or Supreme Court review is pursued.

Burford also clarified the distinction between the Main Appeal and a separate appeal involving a turnover order directing Argentina to deliver YPF shares to satisfy the judgment. That order has been stayed pending resolution, with briefing set to conclude by December 12, 2025. Meanwhile, discovery enforcement is proceeding in the District Court, where Argentina has been ordered to produce documents—including internal and “off-channel” communications—amid accusations of delay tactics.

International enforcement efforts continue in at least eight jurisdictions, including the UK, France, and Brazil, where Argentina is contesting recognition of the US judgment.

The update serves both as a procedural roadmap and a cautionary note: Burford stresses the unpredictable nature of sovereign litigation and acknowledges the possibility of substantial delays, setbacks, or settlements at reduced values.

The Alliance for Responsible Consumer Legal Funding Applauds Governor Newsom for Signing AB 931

By John Freund |

The Alliance for Responsible Consumer Legal Funding Applauds Governor Newsom for Signing AB 931, the California Consumer Legal Funding Act

The Alliance for Responsible Consumer Legal Funding (ARC) expressed its deep appreciation to Governor Gavin Newsom for signing Assembly Bill 931 -- The California Consumer Legal Funding Act -- into law. Authored by Assemblymember Ash Kalra (D–San Jose, 25th District), this landmark legislation establishes thoughtful and comprehensive regulation of Consumer Legal Funding in California—ensuring consumer protection, transparency, and access to financial stability while legal claims move through the judicial process.

The law, which takes effect January 1, 2026, provides consumers with much-needed financial support during the often lengthy resolution of their legal claims, helping them cover essential living expenses such as rent, mortgage payments, and utilities.

“This legislation represents a major step forward for California consumers,” said Eric Schuller, President of the Alliance for Responsible Consumer Legal Funding. “AB 931 strikes the right balance between protecting consumers and preserving access to a financial product that helps individuals stay afloat while they await justice. Consumer Legal Funding truly is about funding lives, not litigation.”
Key Consumer Protections Under AB 931

The California Consumer Legal Funding Act includes robust safeguards that prohibit funding companies from engaging in improper practices and mandate full transparency for consumers.

The Act Prohibits Consumer Legal Funding Companies from:

• Offering or colluding to provide funding as an inducement for a consumer to terminate their attorney and hire another.
• Colluding with or assisting an attorney in bringing fabricated or bad-faith claims.
• Paying or offering referral fees, commissions, or other forms of compensation to attorneys or law firms for consumer referrals.
• Accepting referral fees or other compensation from attorneys or law firms.
• Exercising any control or influence over the conduct or resolution of a legal claim.
• Referring consumers to specific attorneys or law firms (except via a bar association referral service).

The Act Requires Consumer Legal Funding Companies to:

• Provide clear, written contracts stating:
• The amount of funds provided to the consumer.
• A full itemization of any one-time charges.
• The maximum total amount remaining, including all fees and charges.
• A clear explanation of how and when charges accrue.
• A payment schedule showing all amounts due every 180 days, ensuring consumers understand their maximum financial obligation from the outset.
• Offer consumers a five-business-day right to cancel without penalty.
• Maintain no role in deciding whether, when, or for how much a legal claim is settled.

With AB 931, California joins a growing list of states that have enacted clear and fair regulation recognizing Consumer Legal Funding as a non-recourse, consumer-centered financial service—distinct from litigation financing and designed to help individuals meet their household needs while pursuing justice.

“We commend Assemblymember Kalra for his leadership and Governor Newsom for signing this important legislation,” said Schuller. “This act ensures that Californians who need temporary financial relief during their legal journey can do so safely, transparently, and responsibly.”

About the Alliance for Responsible Consumer Legal Funding (ARC)

The Alliance for Responsible Consumer Legal Funding (ARC) is a national association representing companies that provide Consumer Legal Funding, non-recourse financial assistance that helps consumers meet essential expenses while awaiting the resolution of a legal claim. ARC advocates for fair regulation, transparency, and consumer choice across the United States.

Harris Pogust Joins Bryant Park Capital as Senior Advisor

By John Freund |

Bryant Park Capital (“BPC”) a leading middle market investment bank and market leader in the litigation finance sector, is pleased to announce that Harris Pogust has joined the firm as a Senior Advisor.  Harris (Mr. Pogust) is one of the best known and prominent attorneys in the mass tort and class action fields, he was the founding partner and Chairman of Pogust Goodhead worldwide until early 2024 and is currently working with Trial Lawyers for a Better Tomorrow, a charity Harris founded, to help children reach their educational potential all over the world.  Harris’ life work has been to deliver justice for those who have been damaged or injured through the negligence or bad faith of others.

“We are thrilled to have Harris as part of our team.  His knowledge, experience and relationships in the litigation finance sector are of great value to Bryant Park and our clients.  As the litigation finance world becomes more competitive, complex and challenging, having an expert like Harris on our team is invaluable,” said Joel Magerman, Managing Partner of Bryant Park.

Harris’ efforts, in conjunction with Bryant Park will focus on assisting law firms and funders in developing strategies to more efficiently fund their operations and cases and assist them in establishing the right relationships for future growth.  Harris commented, “I have been fortunate to have been a practicing attorney and partner in law firms for over 35 years focused on building and growing a worldwide book of business in the class action/mass tort field.  That required significant capital and throughout my career I have raised over $1 billion for my firms.  I have learned what works and what doesn’t.  I have seen both the risks and rewards in this industry.  I look forward to being able to work with law firms and funders to assist them in putting the right strategies in place with Bryant Park and bringing capital and liquidity to help them grow and flourish.”

About Bryant Park Capital

Bryant Park Capital is an investment bank providing capital raising, M&A and corporate finance advisory services to emerging growth and middle market public and private companies. BPC has deep expertise and a diversified, well-founded breadth of experience in a number of sectors, including specialty finance & financial services. BPC has raised various forms of credit, growth equity, and assisted in mergers and acquisitions for its clients. Our professionals have completed more than 400 assignments representing an aggregate transaction value of over $30 billion.

For more information about Bryant Park Capital, please visit www.bryantparkcapital.com.