Stop Press: We will be discussing the recent very shocking “Dana Gas” development which is likely to have wide scale implications for the Islamic finance sector and Sukuk issuance in particular. The trainer has been extensively quoted in the press on this case and is a noted expert on Sukuk default and financial restructurings in the Gulf region. This is your unique chance to get the latest insights on arguably the biggest Islamic finance development in many years.
In an era where the “selling” process seems to be at the forefront of most minds, very few have stopped to think about what will happen if it all goes wrong. This one day never-before-offered” course in Islamic finance does just that.
It considers the nature of default in an Islamic context, what can be done about it and what actions should be taken or avoided when it happens. It explores the process of reaching amicable solutions and then looks at what will happen if they cannot be reached.
The day concludes with analysis of two major industry defaults – a sukuk product and an Islamic bank – and the practicalities of dealing them.
This course will be of enormous value to financiers working on remedial matters, litigation & dispute resolution lawyers, restructuring and insolvency practitioners everywhere.
Case Study – product default: the sukuk that couldn’t fail
We analyse the ramifications of the infamous Dubai World / Nakheel default that occurred in 2009 – the largest ever sukuk to get into difficulty.
Case study – institutional default: the first Islamic bank in Chapter 11
We analyse the predicament of Arcapita Bank, a global Islamic bank, which ultimately filed for Chapter 11 bankruptcy protection in 2012 – the first ever Islamic bank to do so.