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7 April 2009

Armen Khachaturyan Discusses Cross-Border Restructuring at the WSG European Regional Meeting


On April 3rd 2009 Asters' Senior Partner Armen Khachaturyan spoke at the World Services Group (WSG) European Regional Meeting held in Madrid, Spain. This year's meeting gathered more than 60 lawyers from leading independent law firms representing 33 countries to participate in interactive panels and discuss the timely topic of restructuring during the recession.

Attendees focused on such topics as financial crisis evolution in Europe and market forecasts for 2009, insolvencies and the leading role for the lawyers in managing the processes and their consequences, important legal issues related to divesting and downsizing production facilities, practical aspects of cross-border restructuring transactions, as well as adequate tools for corporate recovery, including raising capital in a distressed situation, renegotiation of loan agreements, debt buy-back, and settlement with creditors.

Armen Khachaturyan represented Asters as the only WSG member law firm from Ukraine and participated in the interactive discussion session entitled "Cross-Border Restructuring – Managing the Process". He actively discussed current and new developments in corporate and financial restructuring within the market, he also identified the issues that companies in distress and their advisors must consider in order to deliver flawless service in cross-border transactions. The interactive panel also looked at how law firms might best interact in transactions to achieve the highest levels of rendering their services within the restructuring process. Mr. Khachaturyan sat on the panel with Andrew Pickin, a partner at the UK-based Shoosmiths, Deniz Altinay Sorguç, a partner at the Turkish law firm Pekin & Bayar, Martin Simovart, a partner at the Estonian law firm Lepik & Luhaäär LAWIN, and Johan De Bruycker, a partner at the Belgian law firm Altius/Tiberghien.

The meeting offered members the chance to participate in global business development sessions, and to interact, network and gain knowledge from the experiences of other members. In addition, there were opportunities to attend member-to-member sessions and two networking dinners for WSG members to encourage professionals within each region to collectively start developing an overall strategy of cooperation and knowledge exchange for mutual benefit.

Commenting on the event, Mr. Khachaturyan said: "This highly professional forum attracted the most knowledgeable experts from WSG member law firms operating in European markets. The outcome was extremely positive on all fronts: lawyers disclosed their best practices to ride out the recession and discussed their expectations regarding business and legal practice development in terms of the current world economic downturn, and they also shared their visions and plans for further advancement of the WSG networking platform".

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World Services Group is a multidisciplinary network that brings together the full spectrum of leading professionals and their firms from key service industries. It regularly organizes meetings and seminars for its members, which provide them with the opportunity to exchange knowledge, build relationships and explore new business opportunities.


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