A key role of the P&T Advisory Panel is to raise issues they have come across that might impact the wider treasury community. The ACT P&T team then follow up and identify how best to share with the wider membership and, if appropriate work with regulators or other stakeholders to ensure that the voice of the corporate is heard. At a recent P&T Advisory Panel meeting, the topic of Events of Default and creditor (lender) activism was raised following an article in the Financial Times.
Many treasurers will be familiar with having to deal with activist debt investors – especially if their organisation is under financial distress. However, there are growing instances of opportunistic creditor activism which, whilst they may not be successful, can consume a significant amount of management time. And whilst not new, this is the sort of topic that your CFO or Chief Executive may ‘suddenly’ get interested in. This briefing note developed by Slaughter & May following the last meeting of the Panel is well worth a read: Event-driven creditor activism - A corporate perspective.
If you would like to get involved in the panel and contribute to the ACT’s thought leadership get in touch with one of the team, or email technical@treasurers.org. We welcome members from all types of organisation.
