Podcast #7: Insights for Trustees & Agents in Asia Pacific – Considerations for an exit strategy and dealing with bond defaults
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Publications: 16 September 2021
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In our latest edition of Trust Us, a podcast addressing hot topics for trustees and agents in Asia Pacific, Holly Hart from our Corporate Trust & Agency team moderates a discussion on the key considerations for the retirement or substitution of trustees and agents in the context of bonds, and a best practice guide to dealing with bond defaults.
Exit Strategy – Key Considerations for the Retirement or Substitutions of Trustee and Agents
There are various reasons why a trustee or agent may wish to exit a current role – it could be due to a regulatory or licensing regime change, because of a commercial decision, or sometimes it may be the consequence of a bond default, when the issuer has been drawn into court-sanctioned on-shore restructuring proceedings. Holly Hart and Katherine Signy share their thoughts on the steps trustees and agents should take when considering extracting themselves from matters that are commercially or practically untenable. The speakers also highlight a range of possible scenarios and share tips on how to deal with potential pitfalls and successfully navigate an exit.
The Defaults Playbook – Best Practice for Trustees and Agents
Given the significant uptick in bond defaults over the last two years, Tim Beech, Head of our APAC Corporate Trust & Agency team provides listeners with a detailed guide to bond defaults in Asia. Tim covers:
- The process of a bond default and any actions that may occur
- The role of trustees
- Considerations when notifying and communicating with bondholders
- Dealing with conflicting instructions from bondholders
- The importance of indemnification and pre-funding.
The Trust Us series presents succinct overviews of hot topics for trustees and agents in APAC, and these podcasts are based on webinars hosted for clients. Please note this episode was recorded on 16 November and references developments occurring at that time.