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Panel: Where are the distressed assets and what to do when we find them? Minsk 25 June 2010

Panel: Where are the distressed assets and what to do when we find them? Minsk 25 June 2010. Jan Kohout, PRK Partners jan.kohout@prkpartners.com. PRK Partners. Over 100 attorneys located across the Czech Republic, Hungary and Slovakia in Prague, Bratislava, Budapest and Ostrava

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Panel: Where are the distressed assets and what to do when we find them? Minsk 25 June 2010

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  1. Panel: Where are the distressed assets and what to do when we find them?Minsk 25 June 2010

  2. Jan Kohout, PRK Partners jan.kohout@prkpartners.com

  3. PRK Partners • Over 100 attorneys located across the Czech Republic, Hungary and Slovakia in Prague, Bratislava, Budapest and Ostrava • Extensive experience serving multinational, international and domestic clients • Business-oriented, flexible, proactive and efficient services with high added value and an emphasis placed on cost optimisation • 7 languages – Czech, Slovak, English, Hungarian, German, French and Russian • PRK Partners is a member of a number of professional associations such as Lex Mundi, IusLaboris and the Loan Market Association

  4. Recent achievements • Chambers Europe Awards for Excellence 2010 • PRKPartners was named Czech Republic National Law Firm of the Year • Czech Law Firm of the Year 2009 • PRK Partners took first place in the category “Banking and Finance” • Deal of the Year 2009 – The Banker • The European region took first place in the equity category with NEW WORLD RESOURCES INITIAL PUBLIC OFFERING, legal assistance provided by PRK Partners under the leadership of Martin Aschenbrenner

  5. Bullet point agenda: • Industries where distressed assets may be found • Potential limitations • Legal instruments for acquiring distressed assets

  6. Industries where distressed assets may be found • Industrialand Manufacturing • Automotive • Glassworks • Heavy Industry • Real Estate • Hotel and Leisure Industry • Construction • Transport and Logistics • Wholesale / Retail

  7. Source: http://web.creditreform.cz/cs/content/press/information/index.jsp

  8. Potential limitations • Limitations imposed on the owner • Pending or threatened insolvency / bankruptcy proceedings • Rights of third parties over the assets • Coordination with secured creditors and others • Project finance • Goals to be achieved • Corporate restructuring • Goals to be achieved

  9. Source: http://web.creditreform.cz/cs/content/press/information/index.jsp

  10. Legal instruments for acquiring distressed assets • Direct sale • Owner’s sale • Pros & Cons • Administrator’s sale • Pros & Cons • Auctions • Initiated by the owner • Pros & Cons • Initiated by administrator / secured creditor • Pros & Cons

  11. Source: http://www.centralniadresa.cz/cadr/

  12. Thank you for your attention

  13. Contacts PRK Partners jan.kohout@prkpartners.com CZECH REPUBLIC Jáchymova 2, 110 00 Prague 1 Tel: +420 - 221 430 111 Fax: +420 - 224 235 450 E-mail: prague@prkpartners.com CZECH REPUBLIC Stodolní 3, 702 00 Ostrava 1 Tel: +420 - 558 272 505 Fax: +420 - 569 112 306 E-mail: ostrava@prkpartners.com SLOVAKIA Gorkého 3, 811 01 Bratislava Tel: +421 - 259 241 180 Fax: +421 - 254 432 733 E-mail: bratislava@prkpartners.com HUNGARY Fabry Law Office, Orló u. 8.I/7., 1026Budapest Tel: +36 - 307 400 445 Fax: +361-354 0125 E-mail: budapest@prkpartners.com

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