Ben Pickering

EY

Principal

Ben is a Principal in Ernst & Young’s Restructuring Advisory Services group and leads the Global Restructuring Life Sciences team. Ben has more than 26 years of professional experience addressing special situations and distressed matters for a wide variety of constituents. Ben has extensive in-court and out-of-court experience addressing issues such as liquidity and financial constraints, cash flow and financial modeling under steady state and alternative operating scenarios, business planning and execution, enterprise restructuring, recovery alternatives and analysis, negotiation and resolution with various stakeholders, and financial reporting and monitoring.

Recent Sector Experience

  • Ben is currently advising a US-based specialty and generic pharmaceutical company providing strategic advice on restructuring options including sale of all or part of the business, stakeholder strategies and in-court and out-of-court restructuring alternatives.
  • He is also assisting a major life science company with its global divestiture and wind-down of a medical device division of the company.
  • Recently, Ben advised Orexigen Therapeutics, an international specialty pharmaceutical company, through its chapter 11 restructuring process. Ben lead a team that addressed numerous financial and operational matters, as well as pre-filing issues such as cash flow, DIP financing needs, strategic alternatives and stakeholder analytics and options.
  • Previously, Ben advised a US-based specialty pharmaceutical company with its near-term and long-term liquidity issues, including the improvement to the company’s current cash flow forecasting and monitoring models and analysis. In addition, he advised the company on a potential debt restructuring and financing including deal structure and related tax implications, and financial reporting requirements. The company was facing numerous challenges for which the advice and analysis provided by Ben and his team was an integral part of ongoing negotiations with stakeholders and, ultimately, and out-of-court solution.
  • Immediately prior to joining EY, Ben served as the interim CFO of a distressed pharmaceutical company. In this role, Ben led the negotiations with its sponsor and lenders, as well as other key stakeholders. He reorganized the accounting and treasury functions, and implemented cash flow and financial forecasting for use in business planning and negotiations with key stakeholders and restructured operations. He also prepared and negotiated the potential financing options required to support the Company and led the preparations for a potential Chapter 11 filing and, ultimately, the sale of the business via a creative mechanism.
  • Ben has also advised clients on crisis resolution and rapid cost take out, operational alternatives and related impacts including strategic assessment and options analysis, the restructuring of operations, divisional consolidation/rationalization, business divestitures, and debt restructuring.

About AIRA

AIRA is a nonprofit professional association serving the bankruptcy, restructuring and turnaround practice area. AIRA's membership consists of accountants, financial advisors, investment bankers, attorneys, workout consultants, trustees, and others in the field of business turnaround, restructuring and bankruptcy. AIRA members are among the most trusted and sought-after professionals in matters dealing with limited capital resources and deteriorating operating performance.

Cancellation/Refund Policy

Written cancellation for the conference or any excursions must be received by midnight on Monday, May 13, 2019 for a full refund less a $75 cancellation processing fee. No refunds will be given after May 13, 2019; substitutions are allowed.

National Registry of CPE Sponsors

"Association of Insolvency and Restructuring Advisors" is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org/.

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