状況が悪化する中、透明性向上に向けてクレジット投資家を支援
課題
2018年の森林火災、キャンプ・ファイアの余波で、アメリカの電力大手PG&Eの投資家は債務不履行の確率に不安を感じていました。2019年にPG&Eが破産を申請し、さらにキンケイド火災やカリフォルニア州の停電が発生したことによって、不安定な状況が続きましたPG&Eの先行きが不透明な中、投資家は発生した負債、代位弁済の請求、規制圧力、破産がPG&Eとエネルギー供給会社との契約に与える影響について見通しを立てる必要がありました。
GLGのソリューション
GLGは、保険・公共事業分野のエグゼクティブと元州議会議員で構成されるチームを編成し、PG&Eの破産宣告前と後の両方において、実用的なインサイトを提供しました。複数の調査方法を組み合わせることで、進展する状況に対応しました。
破産宣告前
GLGは、主要市場および隣接市場において、エグゼクティブや元政治家との60回以上のインタビューを実施しました。これらの有識者は、債券保有者や他の投資家に対して、破産がもたらす影響について異なる見解を示しました。
さらに、カリフォルニア州公益事業委員会の元幹部が同規模の災害に関するインサイトを提供し、カリフォルニア州森林火災保護局の元専門家が火災による被害の範囲に関するインサイトを提供するなど、30回以上のテレカンファレンスを実施しました。また、気象専門家が行った綿密なリサーチをもとに、将来的に発生する可能性のある負債を特定するためのカスタムレポートも提供しました。
破産宣告後
GLGは、カリフォルニア州の元規制当局者による対話を含む、15回以上のラウンドテーブルを実施しました。元規制当局者らは、破産におけるカリフォルニア州公益事業委員会の権限について説明しました。元州議会議員も出席し、政治的関係による影響についても明らかにしました。2019年6月より、GLGは現役の破産弁護士と毎月電話会議を実施し、破産後の料金設定や代位団体の減損など、PG&E関連するすべての審問のモニタリングを行いました。
結果
GLGのPG&Eに関する絶え間ない調査によって、投資家に対してどの程度の回復が期待できるかについてのインサイトを提供し、会社全体の見通しについての理解を深めました。
GLGは、クライアントとPG&Eが直面する課題を解決するためのインサイトを結びつけ、会社全体の状態を示した成果物を提供しました。
プロジェクトの幅広さ
破産宣告前:
破産宣告後:
1~2営業日以内に、担当者よりご連絡させていただきます。
Hilary Malone PhD, has over 25 years of experience in global drug development, regulatory &government affairs, manufacturing and commercialization within the biopharma industry. Hilary hassignificant board level and executive committee experience including large scale organizationalrestructuring/transformation/integration, major M&A, biotech start-up, capital raising, investorrelations and pre-IPO.
Hilary is currently CEO of Stylus Medicine, a private genetic medicine biotech company. Previously sheserved as CEO of a Series-A neuroscience company. Prior to these roles, Hilary served as COO & EVP atValo Health Inc., Chief Regulatory Officer & SVP at Sanofi Inc., and Chief Regulatory Officer & SVP atPfizer and Wyeth. Previous experience also includes senior regulatory and drug development roles atReata Pharmaceuticals Inc., AstraZeneca plc and GlaxoSmithKline plc.
Hilary also serves on the Board of Directors of Hansa Biopharma and Adthera Bio. Hilary holds a PhD inMolecular Neuropharmacology and a BSc in Physiology.
Dr. Thomas Lönngren is Director at his own company PharmaExec Consulting AB. He is the Chairman of the Board of directors at Egetis Therapeutics AB, Sweden. Dr Lönngren also serves as board member at Compass Pathways PLC, London UK and NDA Group, Sweden. He acts as advisor to the following companies and organizations: NDA group, Sweden, Sweden, Artis Venture, San Francisco, US, Fujimoto Japan, Skin2Neuron Pty Ltd, Sydney, Australia, US, Special advisor to the Centre for Innovation in Regulatory Science (CIRS), London UK. From 2001 until2011, Mr.Lönngren served as the Executive Director of the European Medical Agency. He was previously Deputy General Director of the Swedish Medical Product Agency until 2000. He has a degree in pharmacy and MSc in Social and Regulatory Pharmacy from Uppsala University. He is also an Honorary Member of the Royal Pharmaceutical Society of Great Britain, Honorary Fellow of the Royal College of Physicians in Great Britain, Honorary Doctorate from the University of Uppsala, Honorary Doctorate from University of Bath, UK.
Marie-Anne has built a portfolio of senior advisory and non-executive roles, following a successful international career in the FMCG and Luxury sectors. She is a non-executive director of Haleon, a FTSE100 company listed in 2022 after the demerger from GSK. She is also chairwoman of Haleon Environment and Societal Sustainability committee. She is the executive director of the Pierre Fabre Group where she also sits on the Strategic Committee, and she is a Board Member of The Academy of St. Martin-in-the-Fields, one of the world’s most prestigious chamber orchestras. She is also an angel investor and focuses her time and investments on start-ups with the strongest purpose and impact.
Marie-Anne is also a regular lecturer at HEC Paris on purposeful leadership, and she has created a serious game called “Planet Purpose” to upskill people on sustainability and purpose. Throughout her 35year executive career she delivered a strong track-record of business performance and growth in brands and portfolio in both developed and emerging economies.
As a senior leader with Unilever, she led a number of different personal care categories across France, Spain and the USA – including managing the Dove brand worldwide and culminating in leading Unilever’s global Oral Care division. She also worked for LVMH as Brand General Manager of Dior Perfumes and Cosmetics worldwide. Marie-Anne was also Vice-President of Imagine for Margo – Children with Cancer for ten years, a charity she helped found in 2011 with the goal of eradicating children’s cancer. The charity is the #1 charity focused on child cancer in France and has fundraised more than €14m since its creation. Marie-Anne is a graduate from HEC Paris. She is married and has two children aged 29 and 26.
Patrick Jephson is a consultant, journalist, broadcaster and New York Times bestselling author, based in Washington D.C. He is a published authority on corporate and personal branding and crisis communications, addressing conferences worldwide as well as events at the U.S. State Department, the American University and the Annenberg School for Communication and Journalism.
With more than twenty-five years’ experience in the government, luxury and family office sectors, Patrick’s portfolio has included globally admired brands as well as national agencies and NGOs. He has also worked on reputation and legacy briefs with European, Middle Eastern and Asian families, including royalty. He now writes, presents, and advises on factual and drama TV programs, appearing on every major American and many international networks. He was recently an expert consultant to the award-winning Netflix series The Crown and provided live commentary on the Coronation of King Charles.
Patrick owes much of his practical communications and protocol experience to Princess Diana, who chose him to be her equerry and only private secretary/chief of staff. He served the Princess for eight years, responsible for all aspects of her public life, global humanitarian initiatives, and private organization. Having worked for an internationally high-profile woman (and as the father of two professionally successful daughters) he feels a special affinity for cross-cultural, gender and perception issues.
Patrick was born and raised in Ireland and holds a master’s degree in political science from Cambridge University. As an officer in the British Royal Navy, he served all over the world before being selected for royal duty. He is a citizen of the U.K., U.S.A., Ireland, and Canada.