2003 Annual Spring Meeting: Farley and Bond, A Class Act

Co-chairman, Ian Williams, was pleased to introduce fellow Briton Terry Bond and The Honourable Mr. Justice James M. Farley of the Ontario Court of Justice, Toronto Region to a well attended meeting at ABI's Annual Spring Meeting on Saturday, April 19.

Bond, a legend in British banking, recently retired as head of lender services at Barclays Bank where, over a number of years, he has been involved on behalf of the bank in many high-profile re-financings and restructurings. Recognized as an expert in his field, he is now vice chairman of the INSOL Lenders Group. He will take up a post as a consultant with RSM Robson Rhodes in London.

Justice Farley is one of the most senior bankruptcy judges in Canada, having been involved in many major national and international cases, the latest being Air Canada. He works in Canada’s specialist insolvency court in Toronto. He has extensive knowledge of cross-border cases involving cooperation between courts and gave an in-depth and detailed chronology of the evolution of cross-border cooperation from the first cross-border protocol to UNITCRAL. His insight into these matters enthralled the audience and his conclusions will give rise to considerable debate in the future.

Bond’s view of out-of-court restructuring from the lender’s perspective raised a number of interesting points for debate. The logistical difficulties in organizing an out-of-court restructuring were highlighted in the context of the availability of credit default insurance and the regulation or otherwise of the competing financial interests that insurance and re-insurance creates.