BU Claims & Recoveries Specialist Meeting
The Berne Union Claims & Recoveries Specialist Meeting took place in Prague, Czech Republic from June 14th to 16th, hosted by EGAP. The event featured a wide range of insightful sessions and discussions that catered to the diverse needs and interests of the Claims and Recoveries Specialists. Notably, due to recent geopolitical challenges, the meeting dedicated two separate sessions to both Russia and Ukraine.
The first day commenced with a warm welcome from the meeting Chair, followed by the presentation of Berne Union Claims & Recoveries Statistics. This was followed by the "Adjustments of Claims and Recoveries in Ukraine" session, which saw the participation of various ECAs and the Ukrainian Law Company, GOLAW. During this session, GOLAW introduced an EU Integration and Anti-Corruption measures in Ukraine, addressing corruption issues and enhancing the implementation of the country's anti-corruption policy. Insightful case studies were also shared by EGAP and SINOSURE, while CREDENDO discussed the public debt aspect of being an official creditor. The day also featured breakout sessions on claims-related topics, as well as informative discussions on “Sovereign Debt Restructuring” and “European Insolvency and Restructuring Proceedings”. Additionally, seven country café sessions provided opportunities for focused discussions with rotating participants.
On the second day, the discussions continued with the session of "Collecting Claims in Russia Today and Way of Transferring Money" with the participation of EGAP, CREDENDO, LAW GUARANTOR (Russian Law Company) and ALLEN & OVERY (International Law Firm). The panel explored various aspects, including claim collection, foreign judgment recognition, prevention of time-barred claims, C-RUB Accounts, money transfers out of Russia, and the complexities of sanction regimes and insolvency procedures in the country. Key takeaways highlighted the importance of tailored approaches for collecting claims in Russia, the challenge of interpreting ever-changing sanction regimes, and the permissible debt restructuring under the current EU sanction regime.
Apart from the technical topics, the “Negotiation Skills” session stood out as highly informative and engaging. The participants emphasized the importance of incorporating topics that enhance negotiation skills and other soft skills to strengthen the overall effectiveness of claims and recoveries professionals.
Lastly, throughout the meeting, the agenda fostered interaction and networking among attendees. The country café and breakout sessions provided intimate settings for members to engage with one another, establishing meaningful connections and facilitating the exchange of ideas and experiences.