Attention:
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Supply Chain Disruptions & Other Financial Effects of the Coronavirus


Level: Advanced
Runtime: 84 minutes
Recorded Date: March 10, 2020
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Agenda

  • Situation Overview: Coronavirus Growth
  • Impact on the Aviation Marketplace
  • Impact on Convention Centers
  • Market Volatility
  • Impacts on U.S. and China - Labor and Logistics
  • Economic Indicators
  • Risk Mitigation Tools
  • Insurance Policies
  • Force Majeure Clauses
  • Q & A
  • Conclusion
Runtime: 1 hour, 24 minutes
Recorded: March 10, 2020

For NY - Difficulty Level: Experienced attorneys only (non-transitional)

Description

With so many tiers of global supply chains and multinational investments being connected to China, financial risk is magnified when there is a widespread interruption, such as the current coronavirus pandemic.

Extended disruption of supply chains could lead companies to financial distress and possible bankruptcy. The resulting distress from the disruption could also activate insurance-related claims and litigation, further complicated by interpretations of "force majeure" (unforeseeable circumstances) clauses in insurance policies. A recent Wall Street Journal article detailed how plunging shipping volumes out of China due to shutdowns in the wake of the outbreak have crimped industrial production worldwide.

As the coronavirus continues to spread in China and other parts of the world, it is critical for businesses to reassess their connections to global supply chains, evaluate workforce-related issues, and examine risk-minimization and quantization brought about by the pandemic.

This program was recorded on March 10th, 2020.

Provided By

American Bankruptcy Institute
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Panelists

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Alex Sutton

managing Director and Head of Research
Gordon Brothers

Alex Sutton is Managing Director, Head of Research, for Gordon Brothers’ Valuation division where he coordinates industry guidance and market research to support cross-asset appraisals. Prior to this role, Alex headed Gordon Brothers’ Inventory Valuation practice as well as AccuVal-LiquiTec’s Inventory Valuation practice, which was acquired by Gordon Brothers in 2015, where his team produced reports used primarily for financing and financial reporting. With over two decades of experience, Alex has directed inventory appraisals across a wide range of industries, including aerospace, agriculture, apparel, chemicals, food processing and wholesaling, building products, beverage, giftware, grains, furniture, healthcare, home furnishings, industrial machinery, lumber, machine tools, medical devices, metals, paper, pharmaceuticals, plastics, retail, seafood, technology, textiles, and transportation.

As an expert witness, he has experience testifying before federal bankruptcy court as well as supporting litigation through depositions, affidavits of value, and consulting experience. Alex also has experience with machinery and equipment appraisals, marine assets, fishery permits, and has managed many inventory auctions and liquidations.

In addition to The Secured Finance Network, Alex is a member of the Turnaround Management Association as well as The American Society of Appraisers. He frequently speaks on valuation topics and has published several articles related to the appraisal process and industry and market trends. He holds a BA in American History from Harvard College, where he graduated cum laude.

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Adrian Azer

Partner
Haynes and Boone, LLP

Adrian Azer is a partner in the Insurance Recovery Practice Group, who exclusively represents corporate policyholders in a variety of complex insurance coverage matters.

His practice focuses on insurance recovery for cybersecurity breaches, government investigations, and mass tort claims. He has handled disputes over general liability coverage for various toxic tort and environmental claims, including claims by governmental entities; disputes over directors and officers coverage; and disputes over errors and omissions coverage. Adrian has represented public and private companies, non-profit entities, and government contractors, and litigated against insurers in state and federal courts across the nation and various arbitration tribunals.

Adrian has also worked on corporate bankruptcy and insolvency matters, complex commercial litigation, and complex claims resolution. As part of his bankruptcy work, he represented multiple creditors’ committees and various other financial institutions.

Adrian’s articles on cyber insurance have been published in Inside Counsel magazine and in Law360. He has also written about government investigations for Corporate Counselor magazine, an AmLaw publication.

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William Q. Derrough

Managing Director and Co-Head of Recapitalization & Restructuring Group
Moelis & Company

Bill Derrough is a Managing Director and Global Co-Head of the Recapitalization & Restructuring Group at Moelis & Company. Mr. Derrough has extensive experience advising all types of parties in major restructurings including companies, boards of directors, creditor groups, shareholders, unions and governmental entities and has been instrumental in building-out the Firm’s restructuring franchise. Under his leadership, Moelis has established one of the world’s leading R&R teams, which has advised on more than 400 assignments globally representing over $1 trillion in value. The team was ranked #1 Restructuring Advisor both Globally and in the U.S. for 2019 completed engagements and was awarded the prestigious Restructuring Bank of the Year award for 2019 by IFR Magazine.

Mr. Derrough has 30 years of investment banking experience. From 1998 until joining Moelis & Company, he co-founded and co-headed the Recapitalization & Restructuring Group at Jefferies & Company. While at Jefferies, Mr. Derrough advised a wide spectrum of clients and investors on restructurings, recapitalizations, financings, mergers, and other engagements. Prior to joining Jefferies, Mr. Derrough was a Principal at Doyle & Boissiere, a private investment firm. Mr. Derrough began his investment banking career at Salomon Brothers Inc.

Mr. Derrough holds a B.A. from the University of California, Berkeley. He is the Treasurer of the Democratic National Committee and serves on the boards of Youth INC, Boy Scouts of Greater New York, Bennington College and the Academy of St. Joseph, New York.

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Holly F. Etlin

Managing Director
AlixPatners, LLP

Holly F. Etlin is a managing director in the New York office of AlixPartners LLP and has more than 30 years of experience in providing turnaround services for companies in the retail, distribution, consumer products, financial services, media and hospitality industries.

Before joining AlixPartners, she was a principal with XRoads Solutions Group. In 2007, the Turnaround Management Association (TMA) recognized Ms. Etlin with its Turnaround of the Year Award for the successful turnaround of Winn-Dixie Stores, Inc. In 2011, TMA once again recognized her with its Transaction of the Year Award for the successful refinancing of Neff Rental. In addition, she was named Woman of the Year in Restructuring in 2014.

Ms. Etlin received her B..A in economics from the University of California, Los Angeles.


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