Heavy Weather Banking: Corporate Debt Restructuring in Times of Crisis

Rob Wijman
Release date:December 2021
Publisher:Uitgeverij Haystack

Heavy Weather Banking is a book that is not written from a scientific perspective, but ‘just’ from practice, by an experienced banker who has worked for years at ING Bank, mainly abroad. The author, Rob Wijman, led the international restructuring and recovery departments of the bank for many years. He was responsible for the management of corporate credit problems and thus qualified with the many aspects of both listed companies and the large family businesses. In his first book, subtitled “Corporate Debt Restructuring in Times of Crisis”, experience expert Rob Wijman makes a logical comparison with hospitals. “Just like any hospital, a bank needs an intensive care unit with sufficient skilled staff.”

Before starting with 20 different chapters, starting with “Early warning signals and red flags” to the last chapter entitled “GCR function and place in the bank organisation”, he first makes it clear to the reader that all statements , ideas and conclusions contained in the book are based on his personal experience and insights and in no way reflect the views of his former employers, of which acte. He has also changed company names and individuals at his discretion, except for names of individuals and companies that are publicly known such as publicly traded companies and their top management.

This book is a must-read for wholesale bankers and other professionals dealing with companies in financial distress. Heavy Weather Banking provides a structured approach to the various lending mistakes and lessons learned from actual banking practice, and a relevant toolbox on restructuring do’s and don’ts, both in terms of content and effective behaviour. Quickly following the dotcom bubble burst of 2000, and the financial-economic crisis that started in 2008, we are currently experiencing the third major credit crisis of this century.

The outcome remains uncertain, but it seems likely that many corporates will struggle to survive. This book on distressed corporate debt restructuring is written from the bank’s viewpoint, and concentrates on how the bank should best manage problematic loans, causing as little as possible financial and reputation damage to the bank. The book includes many real-life examples. “This is a valuable addition to the literature on distressed debt and one which I shall be recommending to all of my bank clients and trainees in this space.” – Adrian Grant, Consultant and Trainer on loan origination & restructuring.

The author’s primary goal is to provide tools with the book to help make the right credit decisions. In addition, he especially urges bankers to get to know their customers better, in the interest of the customer, but above all in the interest of the bank.

Rob Wijman

Rob Wijman is one of Europe’s leading loan workout and restructuring bankers with a deep and global experience in high profile cases. Wijman provides training, workshops and lectures on corporate crisis situations in addition to advising distressed businesses.