Sovereign Debt Restructuring and Finance – Current Themes for Africa

Webinar | June.30.2021 | 9:00am - 10:15am (Eastern Daylight Time)

Online Webinar

The Cyrus R. Vance Center and Orrick hosted a webinar on Sovereign Debt Restructuring and Finance in Africa on June 30^th, 2021. The event featured Lorraine McGowen and Thomas Laryea from Orrick and panelists from the Vance Center. The attendees included investors and African government officials.

The webinar explored the challenges arising from the COVID pandemic, and the legal and policy tools used to date, including the application of international initiatives such as the G-20 Debt Suspension Initiative (DSSI) and the “Common Framework”, and opportunities to innovate in blended finance and ESG finance in order to leverage the private sources of financing needed to meet the African continent’s development objectives.

A recording of the webinar can be seen below:

CLE INFORMATION: This course is eligible for New York and California CLE credit. Please complete and retain the applicable form for your records. The New York self-study form must be emailed to Melissa Woods ([email protected]) and Jane Gracey ([email protected]). The California self-study form does not need to be emailed to Melissa Woods and Jane Gracey.

Orrick, Herrington & Sutcliffe LLP is an accredited MCLE provider in the State of New York. This transitional and non-transitional continuing legal education course has been approved in accordance with the requirements of the Continuing Legal Education Board for a maximum of 1 credit hours, of which 1 credit hours can be applied toward the areas of professional practice requirement.

Orrick, Herrington & Sutcliffe LLP is an accredited MCLE provider in the State of California. This continuing legal education course has been approved in accordance with the requirements of the State Bar of California for a maximum of 1 credit hour, of which 1 credit hour can be applied to the general requirement.

View the presentation slides here.

CLE Credits Available: Y

Lorraine McGowen Partner, Restructuring, Bankruptcy Litigation

New York

See my bio

D:+1 212 506 5114
E: [email protected]

Practice:

Finance Sector
Restructuring
Bankruptcy Litigation
Municipal Restructuring and Insolvency
Energy & Infrastructure
Mergers & Acquisitions
Structured Finance
Higher Education and Student Loan Financing
Automotive Technology & Mobility

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Lorraine McGowen Partner

New York

Lorraine brings 30+ years of legal experience in bankruptcies, out-of-court restructurings, sovereign debt restructurings and creditors' rights controversies. She interfaces with auditors, government regulators, investment bankers and others, and develops and implements mediation and litigation strategies, and negotiates reorganization plans and complex corporate and finance documents. She also regularly provides commercial law and bankruptcy advice in connection with securitization, M&A, energy & infrastructure and general corporate transactions.

Lorraine has represented various stakeholders in bankruptcies, workouts, distressed debt transactions, sovereign debt restructurings, bankruptcy litigation, derivatives, and distressed acquisition matters such as Suriname, Belize, Puerto Rico, Takata Corporation, Windstream, GTT, Brazos Electric Power Cooperative, Lehman, MF Global, Indiana Toll Road, Chemtura Corporation, Tronox Incorporated, South Bay Expressway, American Dream School, Detroit, General Motors, and Stone & Webster.

Lorraine is a member of Orrick's Management Committee and is Partner in Charge of its global DEI Initiatives. She previously served two terms on the firm’s 11-member Board of Directors and also previously chaired its Restructuring Group.

As a leading DEI advocate, Lorraine creates programs for the legal profession and the community. She was selected as a 2019 Rainmaker by the Minority Corporate Counsel Association (MCCA) and as one of Savoy Magazine’s Most Influential Black Lawyers for 2022, 2018 and 2015 and received Legal Outreach’s Pipeline to Diversity 2017 Champion Award and the New York City Bar Association Diversity and Inclusion 2012 Champion Award. IFLR1000 Rankings named Lorraine a leading lawyer in the U.S. She was selected by Direct Women to be a 2016 Board Institute member. She is a frequent speaker and author on bankruptcy and insolvency and diversity and inclusion.

Among her community involvement, she is a former Vice President and Board Member of the New York City Bar Association and currently co-chairs the City Bar's Digital Assets Task Force. She serves on the Board of Directors for the Institute for Inclusion in the Legal Profession and the New York Lawyers for the Public Interest, where she is chair of the board, and on the Advisory Committees for Legal Outreach and the Vance Center for International Justice of the City Bar, where she serves as co-chair of the Advisory Committee of the Vance Center.

Thomas Wyatt Laryea Counsel, Restructuring, Banking & Finance

Washington, D.C.

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D:+1 202 339 8416
E: [email protected]

Practice:

Finance Sector
Restructuring
Banking & Finance
Governmental Affairs
Antitrust & Competition
International Arbitration & Dispute Resolution
Africa
Funds

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Thomas Wyatt Laryea Counsel

Washington, D.C.

Thomas formerly served as Assistant General Counsel at the International Monetary Fund, where he was responsible for the IMF’s legal relations in finance and economic surveillance with each of its member countries. As the only senior IMF lawyer in private practice, he offers distinctive insights to asset managers, real money investors and hedge funds on sovereign debt and restructurings as well as large scale corporate restructurings and project financings. His practice bridges legal and strategic advice on the transactional, public policy and dispute resolution aspects of international finance and investment.

Thomas has advised on several recent high-profile sovereign debt restructurings, including representing the Argentina Creditor Committee on the restructuring of $65 billion of Argentina’s foreign currency bonds. He also recently represented the Steering Members of the Committee on Bondholders in the reprofiling of Belize’s bonds.

He is recognized as a key lawyer in the Restructuring (Including Bankruptcy): Municipal category of The Legal 500 US 2022 directory. A client remarked that he “provided invaluable advice on the IMF policies, individual personalities and missions which helped us to understand the sovereign’s priorities with the IMF” that “will then frame our negotiations with the sovereign.” “Thomas is highly respected in the sovereign restructuring space.”

Thomas is an active thought leader and has published numerous articles on sovereign debt and international finance.

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