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Wharton Restructuring and Distressed Investing Conference 2013

Health of Nations: Distress, Recovery or Revival?

Hyatt at the Bellevue, Philadelphia - Friday, February 22, 2013

Panels

Financial Institution Failures: Challenges and Lessons Learned

The panel will explore the lessons learned from the restructuring of some of the most prominent banks, broker dealers and monoline insurers including MF Global, Lehman, FGIC, Ambac and Washington Mutual. A primary focus of the group will be the challenges of restructuring multi- entity institutions across numerous jurisdictions with diverse insolvency regimes..

Panelists:

Marcia L. Goldstein - Partner, Weil, Gotshal & Manges (Moderator)
Marcia L. Goldstein

Marcia L. Goldstein

Partner, Weil, Gotshal & Manges (Moderator)

Marcia Goldstein is chair of the Business Finance & Restructuring department at Weil, Gotshal & Manges and a member of the firm's Management Committee. She has practiced with the firm for over thirty years in all areas of domestic and international debt restructuring as well as crisis management and corporate governance. She has been a lecturer at Yale Law School, Columbia Law School and Cornell Law School and is a frequent speaker at restructuring seminars both domestically and internationally.

Ms. Goldstein has been the lead restructuring lawyer assisting AIG with respect to various aspects of the overall restructuring of the company, including its obligations to the Federal Reserve, led the firm's restructuring for Kaupthing Bank, the largest Icelandic bank which was in insolvency proceedings in Iceland and Chapter 15 in the US and served as lead restructuring counsel for General Growth Properties, a publicly traded REIT which is the largest real estate company to seek Chapter 11 relief. She also served as lead counsel in the Chapter 11 cases of Extended Stay Hotels, a chain of 680 hotels, Washington Mutual Corp., LandSource, a large land development company, Advanta Corp, provider of small-business credit card account services, and BearingPoint. She has also represented debtors, bank groups, secured and unsecured creditors, statutory creditors' committees, trustees, and other parties in other major debt restructurings and Chapter 11 cases. These include Alliance Mortgage, American Home Mortgage, Hollinger, Inc., Galvex Holdings, Inc., North American Bus Industries Rt., Regal Cinemas, Inc., Washington Group International, Inc., AMF Bowling Worldwide, Inc., Exide, Inc., Oxford Automotive, Inc., United Companies Financial Corp., Marvel Entertainment Group, CRIIMI MAE, Storage Technology, Inc., Southland, Inc., and Warnaco, Inc.

Ms. Goldstein graduated magna cum laude from Cornell University with an A.B. in 1973. She received her J.D., cum laude, from Cornell Law School in 1975, where she was articles editor of the Cornell Law Review. She currently chairs the Law School Advisory Council.

Gary T. Holtzer, - Partner, Business Finance & Restructuring, Weil, Gotshal & Manges LLP
Gary T. Holtzer,

Gary T. Holtzer

Partner, Business Finance & Restructuring, Weil, Gotshal & Manges LLP

Mr. Holtzer is a partner in the Business Finance and Restructuring Department of the New York office. He practices in all areas of domestic and international restructurings, crisis management, corporate governance, financings, and acquisitions involving distressed situations.

Mr. Holtzer's lead role in company side restructurings includes Financial Guaranty Insurance Company, General Growth, Highland Hospitality, Nortek, Pilgrim's Pride, Panolam, International Aluminum, TI Auto, Vertis Holdings, Inc., Syncora Guarantee, Silicon Graphics, Parmalat and Velocita Corp. He also represents lenders and other parties, including General Electric Capital Corp., Goldman Sachs and Brookfield Asset Management, in financings and acquisitions involving troubled companies, including in Penton Media, Harrah's, Spectrum Brands, Circuit City, JHT Trucking, KMC Telecom, Sea Containers, Calpine, Montgomery Ward, Kmart, Comdisco, Conseco Finance, Budget Rent-A-Car, Viskase, Xerox, E-Z Serve Convenience Stores, and Clark Retail Enterprises.

Mr. Holtzer is an Adjunct Professor at Cardozo School of Law and a Fellow of the Heyman Center on Corporate Law. He is also a Fellow of the American College of Bankruptcy.

Mr. Holtzer holds a B.S. from Cornell University (1986) and a J.D. from Cardozo Law School (1990).

James B. Kobak, Jr., - Partner, Corporate Reorganization & Bankruptcy, Hughes Hubbard & Reed LLP
Gary T. Holtzer,

James B. Kobak, Jr.

Partner, Corporate Reorganization & Bankruptcy, Hughes Hubbard & Reed LLP

Mr. Kobak chairs the Antitrust Practice Group and the Practice Standards and Ethics Committee at Hughes Hubbard & Reed. He has been involved in all aspects of SIPA liquidations for over thirty years as well as a broad range of commercial and antitrust litigation and arbitration and mediation, both as advocate and neutral party. He is currently lead counsel to the Trustee for the SIPA liquidation of Lehman Brothers.

Mr. Kobak taught seminars on antitrust and intellectual property issues for over a decade at Fordham Law and University of Virginia School of Law, and formerly chaired the Intellectual Property Committee of the ABA Antitrust Section. He edited the ABA Antitrust Section’s publication Intellectual Property Misuse: Licensing and Litigation and serves as one of the two editorial advisors to the New York ethics treatise published by Oxford University Press. He is former President of the New York County Lawyers’ Association and received its President’s Medal in 2006.

Mr. Kobak is a graduate of Harvard College (A.B. magna cum laude 1966) and the University of Virginia Law School (LL.B. 1969), where he was the Associate Editor of the Law Review.

Stephen J. Lubben - Harvey Washington Wiley Chair in Corporate Governance & Business Ethics, Seton Hall Law School; Columnist, Dealbook, New York Times
Stephen J. Lubben

Stephen J. Lubben

Harvey Washington Wiley Chair in Corporate Governance & Business Ethics, Seton Hall Law School
Columnist, Dealbook, New York Times

Stephen J. Lubben, holder of the Harvey Washington Wiley Chair in Corporate Governance & Business Ethics at Seton Hall, is an internationally recognized expert in the field of corporate finance and governance, corporate restructuring, financial distress and debt.

He is the author of a forthcoming textbook, to be published by Wolters Kluwer, on corporate finance, and a contributing author to the new Bloomberg Law on Bankruptcy treatise. He is also the In Debt columnist for the New York Times' Dealbook page.

Professor Lubben grew up in west Los Angeles and attended the University of California, Irvine, where he majored in History and minored in Political Science. Following graduation from law school, Professor Lubben clerked for Justice John T. Broderick, Jr. of the New Hampshire Supreme Court. He then practiced in the New York and Los Angeles offices of Skadden, Arps, Slate, Meagher & Flom LLP, where he represented parties in chapter 11 cases throughout the country.

Since joining Seton Hall, Professor Lubben has presented his papers at academic conferences around the world and frequently provides commentary on chapter 11 and related issues for national and international media outlets, including the Wall Street Journal, The New York Times, the Financial Times, Reuters, the Associated Press, Bloomberg, and the BBC.

He frequently advises government officials on potential legislative reforms, and has testified before Congress and the TARP Congressional Oversight Panel. He also is a regular contributor to Credit Slips, a blog started by a small group of bankruptcy experts.

Professor Lubben is a member of the New York and California bars. He is also a member of the American Finance Association, the American Law and Economics Association, the International Insolvency Institute, and the European Association of Law and Economics.

Richard L. Wynne - Partner, Jones Day
Richard L. Wynne

Richard L. Wynne

Partner, Jones Day

Rick Wynne's practice focuses on complex restructuring matters, representing debtors, official creditors committees, ad hoc committees, purchasers, and lenders in US and international chapter 11 cases and out-of-court workouts. He has extensive experience in a wide variety of industries, including telecommunications, sports, real estate (commercial, residential, and hotels), transportation, insurance and financial services, retail, food distribution, manufacturing, natural gas, oil and ethanol, as well as the entertainment industry.

Rick's committee representations include the Ad Hoc Bondholders Committee in Chemtura and the Non-Agent Secured Lenders Committee in the Adelphia chapter 11 cases.

Prior to joining Jones Day, Rick's debtor cases included Conseco, then the third largest chapter 11 case; Fleming, the largest US wholesale food distributor; the Chevy's chain of restaurants; the Wendy's of San Diego franchise group; and the Hollywood Roosevelt, Westwood Marquis, and Sir Francis Drake hotels. His prior committee representations included the official creditors committees in Williams Communications; Carolco Pictures; Maruko, the first major reorganization case to take place simultaneously in the United States and Japan, involving $3.5 billion in worldwide real estate holdings; and the Reed Slatkin investment club, the largest chapter 11 case up to that time involving a Ponzi scheme.

Rick is a Fellow of the American College of Bankruptcy and a board member of the American Board of Certification (Business Bankruptcy). He has been highlighted in Chambers USA, the guide to leading lawyers, in the past several years.

Distressed Private Equity

Distressed Private Equity Deal-Making in a Non-Distressed Market

Relative macroeconomic headwinds have subsided leading to fewer opportunities for distressed investors. A host of factors have contributed to this including new entrants into the distressed private equity marketplace, large amounts of ‘dry-powder’ capital, and current stability in the debt capital markets. This panel will explore how all of these factors play into the current environment; from fund management, including fundraising and exit strategies, to sources of deal flow and current valuations, we will tap a group of industry experts to shed light on where things stand and where they are headed.

Panelists:

Adam Harris - Partner, Schulte Roth & Zabel LLP (Moderator)
Adam Harris

Adam Harris

Partner, Schulte Roth & Zabel LLP (Moderator)

Adam C. Harris is a partner in the New York office and a member of the firm's Executive Committee. His practice includes corporate restructurings, workouts and creditors’ rights litigation, with a particular focus on the representation of investment funds and financial institutions in distressed situations. Adam has represented a variety of clients in connection with distressed acquisitions by third-party investors or existing creditors through “credit bid” or similar strategies, as well as in court supervised and out of court restructurings. In addition to representing creditors and acquirers in distressed situations, Adam has represented Chapter 11 debtors, as well as portfolio companies in out-of-court exchange offers, debt repurchases and other capital restructurings.

Aaron Bendikson - Managing Director, Oaktree Capital Management
Aaron Bendikson

Aaron Bendikson

Managing Director, Oaktree Capital Management

Prior to joining Oaktree in 2005, Mr. Bendikson served as a Principal with Soros Fund Management’s private equity affiliate, where he focused primarily on executing and sourcing leveraged/management buyouts, expansion capital investments and corporate restructurings. Before joining Soros in 1999, Mr. Bendikson spent three years at J.P. Morgan & Co. as a Financial Analyst in the mergers and acquisitions department. Mr. Bendikson received an M.B.A. from Harvard Business School and a B.A. degree cum laude in Economics and History from the University of California at Los Angeles, where he was elected to Phi Beta Kappa.

Matthew Hart - Director, Lazard
Matthew Hart

Matthew Hart

Director, Lazard

Prior to joining Lazard in 2008, Mr. Hart was a Managing Director and partner in the distressed investment funds associated with Eos Partners. He joined Eos in 2006 from Merrill Lynch, where he was a Vice President in the firm's principal investments area and focused primarily on distressed investment opportunities. He previously worked as an Associate in the firm's Financial Sponsors and Mergers & Acquisitions groups. Earlier in his career he was involved in the mortgage- and asset-backed securitization markets in various capacities. He is a member of the Association of Insolvency & Restructuring Advisors, the American Bankruptcy Institute, the CFA Institute and the New York Society of Securities Analysts. He received an M.B.A. in Finance & Accounting from the University of Chicago and an A.B. in Economics from the University of Michigan.

David Matlin - Chief Executive Officer, MatlinPatterson Global Advisers LLC
David Matlin

David Matlin

Chief Executive Officer, MatlinPatterson Global Advisers LLC

David Matlin is the Chief Executive Officer of MatlinPatterson Global Advisers LLC, a $9 billion global private equity firm, which he co-founded in July 2002. Prior to forming MatlinPatterson, Mr. Matlin was a Managing Director at Credit Suisse First Boston and head of their Distressed Securities Group since its inception in 1994. Mr. Matlin holds a JD degree from the Law School of the University of California at Los Angeles and a BS in Economics from the Wharton School of the University of Pennsylvania. Mr. Matlin serves on the boards of Flagstar Bancorp, Inc., and Standard Pacific Corp.

Billy Rahm - Senior Managing Director, Centerbridge Partners
Billy Rahm

Billy Rahm

Senior Managing Director, Centerbridge Partners

Mr. Rahm joined Centerbridge in 2006 and currently focuses on investments in the Real Estate and Gaming & Lodging sectors. Prior to joining Centerbridge, Mr. Rahm was a Member of Blackstone's Real Estate Private Equity group, where he completed investments in lodging businesses and real assets. Mr. Rahm graduated cum laude from Yale College. He received his J.D. cum laude from Harvard Law School and his M.B.A. with distinction from Harvard Business School. Mr. Rahm serves on the Board of Directors of Extended Stay Hotels, Inc. and Brixmor Property Group.

Gregory L. Segall - President & CEO, Versa Capital
Gregory L. Segall

Gregory L. Segall

President & CEO, Versa Capital

Mr. Segall has overall responsibility for Versa Capital and its investment strategies including leadership and supervision of the investment and portfolio management activities of the firm and its affiliated investment funds. He has led Versa and its predecessors since their founding in 1992. Mr. Segall has been engaged in turnarounds, restructurings, reorganizations, bankruptcies and other Special Situations involving businesses across a wide variety of industries and circumstances and currently serves as a Director for various Versa portfolio companies, in addition to previously serving on numerous boards of companies in transition at the behest of key creditors and stakeholders. He is a graduate of Pepperdine University, where he received his M.B.A.; he has completed the Presidents Seminar at the Harvard Business School; and he is currently a member of the Advisory Council of the Center for Innovation, Creativity and Entrepreneurship at Wake Forest University.

Operational Restructuring

Operational Challenges in Cross-Border Insolvencies

Cross-border insolvencies present a complex set of challenges for global institutions, stemming from differences in legal, regulatory, cultural, and business perspectives and approaches. This panel will explore the operational challenges inherent in situations when the managing business unit of a global firm fails, resulting in the mismatch of assets, people, and legal entities. Focus will be placed upon financial institutions, particularly the Lehman and MF Global bankruptcies, and panelists will question whether legislation for Living Wills and Dodd Frank has addressed these operational challenges in a satisfactory manner.

Panelists:

Daniel J. Ehrmann - Managing Director, Alvarez & Marsal (Moderator)
Daniel J. Ehrmann

Daniel J. Ehrmann

Managing Director, Alvarez & Marsal (Moderator)

Daniel Ehrmann is a Managing Director with Alvarez & Marsal in New York, where he focuses on developing and implementing operational turnarounds as an adviser or in an interim management capacity. He has led companies through significant change by developing and implementing operating improvement plans across industries including apparel, retail, consumer products, professional and financial services.

Currently, Mr. Ehrmann is the Co-Head of the derivatives unwind group and the leader of international operating companies unwind for the Lehman Brothers estate.

Over the past decade, Mr. Ehrmann has operated in various C-level roles. Most recently, he served as CFO and Senior Vice President of Business Planning & Development with Spiegel Brands, a $350 million tri-channel, direct marketing, women's apparel business. Previously, Mr. Ehrmann served as Restructuring Officer of Spiegel Group, a leading tri-channel specialty retailer that offered merchandise through its three subsidiaries: Eddie Bauer, Spiegel Catalog and Newport News Catalog. At Spiegel, he streamlined, formulated and oversaw the carve-out from Eddie Bauer and integration of the Spiegel and Newport News catalogs through the consolidating of organization's logistics, distribution and call center operations. He negotiated the sale of the catalog companies and assisted the company in a rebranding and renegotiation of paper, printing and credit card processing contracts. Additionally, Mr. Ehrmann assisted the company in a business model shift from a catalog-centric to a Web-centric tri-channel business model.

Some of Mr. Ehrmann's previous adviser assignments have included serving as financial adviser to Quaker Fabrics, a $225-million designer and manufacturer of residential furniture fabrics; financial adviser to OCA, a $400-million non-clinical business services provider to doctors; financial adviser to Communications Corporation of America, a TV broadcaster; and as assistant restructuring officer of Arthur Andersen.

Earlier in his career, Mr. Ehrmann spent five years as a mergers and acquisitions attorney with Cleary Gottlieb Steen & Hamilton.

Mr. Ehrmann earned a law degree from University Panthéon-Assas, a master's degree in corporate law and economic science from the University of Paris - Sorbonne, and a law degree (LL.M.) in corporations from New York University, School of Law. He is a member of the Paris and New York Bar Associations, and sits on the Board of Directors of Free Arts NYC.

Patrick Cowley - Principal, Transactions and Restructuring, KPMG China
Patrick Cowley

Patrick Cowley

Principal, Transactions and Restructuring, KPMG China

Since joining KPMG Hong Kong in 1996, Patrick has been involved in a wide variety of formal insolvency, restructuring and advisory matters in Hong Kong, China and the wider ASPAC region.

Patrick is one of the Liquidators of the US$44 billion Lehman Brothers business in Hong Kong, and has led the team's efforts to realize value from Lehman Brothers' investments and exposures around Asia, particularly in India, Japan, China and Australia.  Patrick is also currently leading the liquidation of the Hong Kong end of another former global brokerage operation, MF Global.

In September 2005, Patrick was part of the team that took on the management and restructuring of a licensed financial institution, Delta Asia Credit Limited, a subsidiary of Banco Delta Asia SARL, a Macau based bank that had been sanctioned by the US Treasury Department under section 311 of the USA Patriot Act as a result of its alleged dealings with North Korea.

Over the last 15 years, Patrick has also been involved in the restructurings and liquidations of a variety of airlines, shipping companies, financial institutions / brokerages and property development companies, as well as advising clients in their efforts to reorganise their businesses or exit from unprofitable enterprises, mostly in China.

Originally from the Isle of Man, Patrick is both a Chartered Secretary and a Certified Accountant, having obtained a mixed Humanities Degree (with honours) from the University Of Buckingham.  Patrick started his career in the Isle of Man's offshore finance sector, and successfully transitioned into the world of restructuring and insolvency in 1997, when the Asian economic crisis created both crisis and opportunity around the region.

Jeffrey Donaldson - Managing Director, Alvarez & Marsal
Jeffrey Donaldson

Jeffrey Donaldson

Managing Director, Alvarez & Marsal

Jeffrey Donaldson is a Managing Director with Alvarez & Marsal Business Consulting in New York. A member of the firm's Information Technology team, he serves as National Practice Leader of the Financial Services Industry group.

Mr. Donaldson specializes in IT-enabled solutions for financial institutions, including retail and commercial banks, investment banks, retail brokers, institutional securities firms, investment managers, insurers and reinsurers. He brings strong organizational skills and the ability to work in distressed situations to identify, prioritize and manage multiple, large-scale initiatives concurrently.  

With more than 20 years of experience in operations, technology consulting and as a CIO, Mr. Donaldson has engineered and delivered large-scale business transformations, complex systems integrations and custom application development projects. He has been responsible for the planning, architecture and integration of operations and technology solutions in support of speed-to-market, cost management, customer management, operations risk management and enterprise information management initiatives in the front, middle and back offices.  

Some of Mr. Donaldson's notable assignments have included Ace Insurance, Aflac, American International Group, AXIS Capital, Bank of America, Barclays, Cendant, Genworth Financial, Goldman Sachs, H.D. Vest, ING Americas, JP Morgan Chase, Lehman Brothers, Lewco Securities, Liberty Mutual Group, the Hartford Financial Services Group, the Phoenix Insurance Cos., Thomson Corporation, World Bank / IFC, XL Capital and Zurich Financial Services.  

Mr. Donaldson began his operations and technology consulting career with the Domestic Brokerage Operations Group of AIG and the Business Systems Consulting Division of Andersen. He later joined the Business Consulting practice of Andersen, where he co-led the North American Technology Integration practice in Financial Services. He also led the firm's Global Data Management Center of Excellence. Later, in 2002, he joined BearingPoint as a Managing Director, where he oversaw the firm's eastern region financial services insurance practice and served several of the firm's largest global diversified financial services clients.  

Mr. Donaldson earned bachelor's degrees in management and management information systems from Hartwick College and a master's degree in business administration, with a focus on information systems, from Pace University, Lubin School of Business. He has authored articles for Insurance & Technology, the Data Warehousing Institute, ACORD LOMA and other financial services and information technology publications.

Garrett Fail - Partner, Weil, Gotshal & Manges
Garrett Fail

Garrett Fail

Partner, Weil, Gotshal & Manges

Garrett Fail is a partner in Weil’s Business Finance & Restructuring Department. Mr. Fail's practice covers all aspects of domestic and international debt restructurings, as well as crisis management and corporate governance. He has played a lead role in representing debtors, including in filing and prosecuting the largest chapter 11 cases in history for Lehman Brothers Holdings Inc. and its affiliates, and the chapter 11 cases of Southern Air Holdings Inc., The New York Racing Association, Galvex Services, Parmalat USA, Twinlab Corporation, and Global Crossing. He has extensive experience representing creditors, buyers and sellers, DIP lenders, investors, and companies in distress across a variety of industries in chapter 11 cases and in out of court debt restructurings. He has lectured frequently and written articles on numerous occasions on bankruptcy topics.

Owen Littman - General Counsel, Cowen Group
Owen Littman

Owen Littman

General Counsel, Cowen Group

Mr. Littman serves as the General Counsel and Secretary of Cowen Group, Inc. and its subsidiaries. In such capacity, Mr. Littman is responsible for overseeing all aspects of legal and compliance for Cowen Group, Inc.

Mr. Littman joined Ramius LLC in October 2005 as its senior transactional attorney, becoming the General Counsel of Ramius LLC in February 2009, and the General Counsel of Cowen Group, Inc. in July 2010. He has served as Ramius’s representative to the Unsecured Creditors’ Committee of Lehman Brothers International (Europe) since November 2008.

From September 1997 to October 2005, Mr. Littman was an associate in the Business and Finance Department of Morgan, Lewis & Bockius LLP, where he represented public and private companies in various corporate transactions, including public offerings, private placements, mergers and acquisitions and private equity transactions. Mr. Littman also represented underwriters in initial public offerings of securities.

Mr. Littman received a B.A., cum laude, in Public Policy and Economics from Duke University in 1994 and a J.D. from New York University School of Law in 1997.

Distressed Hedge Funds

The Future of the Distressed Debt Market

From the global macro influences of European central banks monetary policies and China’s economic future to the domestic macro impact of the fiscal cliff, debt ceiling, and the recent national elections, to the effect of the resurgence of high yield debt, the future of the distressed debt market is uncertain. The panel will discuss their insights into the current factors influencing the distressed debt market, their view of the future of the market, and what opportunities investors might expect to see during 2013 and beyond.

Panelists:

Edward O. Sassower - Partner, Restructuring, Kirkland & Ellis LLP (Co-Moderator)
Edward O. Sassower

Edward O. Sassower

Partner, Restructuring, Kirkland & Ellis LLP (Co-Moderator)

Mr. Sassower is a Restructuring partner in the New York office of Kirkland & Ellis LLP and focuses on representing debtors, creditors and distressed or special situation investors in bankruptcy cases, out-of-court restructurings and acquisitions.  Most recently, Mr. Sassower was praised for his “command of a board of directors” and was described as “really talented and very savvy” (Chambers USA, America's Leading Lawyers for Business 2012).  He has also recently been described as a “tireless advocate with a highly evolved understanding of what matters to financial clients” (The Legal 500 U.S. 2012).

Some of Mr. Sassower’s recent representative matters include the Chapter 11 cases of MSR Resort Golf Course LLC, Sbarro, Inc. and Majestic Star Casino, the out-of-court restructuring of Horizon Lines, Inc., Oaktree Capital Management, L.P. as secured lender and plan sponsor in the Chapter 11 case of General Maritime Corporation and a consortium of charter-in tanker owners in the out-of-court restructuring of TORM A/S.  Some of Mr. Sassower’s other significant company-side representations include Calpine, Constellation Energy, NRG Energy and Leiner Health Products.  He has also represented ad hoc committees in the restructurings of Capmark Financial Group, Lyondell Chemical Company, AbitibiBowater, Mirant and Avecia, among others.  In addition, Mr. Sassower has represented many private equity and hedge funds in connection with asset acquisitions from companies in distress.

Mr. Sassower earned a J.D. from Duke University School of Law as well as his B.A. from Duke University.

James Sprayregen - Partner, Restructuring, Kirkland & Ellis LLP (Co-Moderator)
James Sprayregen

James Sprayregen

Partner, Restructuring, Kirkland & Ellis LLP (Co-Moderator)

James H.M. Sprayregen is recognized as one of the country's outstanding restructuring lawyers and has led some of the most complex Chapter 11 filings in recent history. Mr. Sprayregen has extensive experience representing major U.S. and international companies in and out of court as well as buyers and sellers of assets in distressed situations. He has handled matters for clients in industries as varied as manufacturing, technology, transportation, energy, media, and real estate. He has extensive experience advising boards of directors, and generally representing domestic and international debtors and creditors in complex workout, insolvency, restructuring, and bankruptcy planning matters.

Mr. Sprayregen has been recognized as one of the top restructuring lawyers in the world by many leading publications. In March 2010, The National Law Journal selected Mr. Sprayregen as one of "The Decade's Most Influential Lawyers." The American Lawyer also profiled Mr. Sprayregen's distinguished career in several articles including "Dealmakers of the Year, Building the Brand," and "45 Under Forty-Five: The Rising Stars of the Private Bar." Mr. Sprayregen was also profiled in the articles, "Credit Control," by The Lawyer, "Willing to Run Through a Brick Wall," by The Daily Deal, "Lawyer 'Spray' Tops Bankruptcy Fray," by Crain's Chicago Business and "A 24-Hour Kind of Player," by the Chicago Sun-Times. In addition, Chambers & Partners has described Mr. Sprayregen as a "great clients' lawyer, admired for his 'unflustered ways.'" Chambers said that clients it spoke to noted that he is "probably the best restructuring lawyer in the world." In the 2011 edition of Chambers USA, America's Leading Lawyers for Business, Mr. Sprayregen was listed as a star individual and was described as "a restructuring genius and one of the best strategists in the country."

From 2006-2008, Mr. Sprayregen served as co-head of Goldman Sachs' Restructuring Group and advised clients in restructuring and distressed situations. Prior to joining Goldman Sachs, Mr. Sprayregen spent 16 years at Kirkland & Ellis. He rejoined the Restructuring Group at Kirkland & Ellis in December 2008. The 2009 edition of Chambers USA, America's Leading Lawyers for Business highlighted Mr. Sprayregen's return to Kirkland & Ellis after his nearly three years with Goldman Sachs. Mr. Sprayregen was listed as a first tier lawyer practicing in the bankruptcy/restructuring category, and was described as having an "outstanding reputation for complex Chapter 11 cases." The 2010 edition of Chambers USA, America's Leading Lawyers for Business recognized Mr. Sprayregen as a key individual, noting that "he will lift the practice even higher," and that he is known for his ability to "smooth the waters where needed but also take an aggressive stand when necessary." In 2011, the Legal 500 U.S. guide noted that Mr. Sprayregen is "immensely talented and experienced."

Mr. Sprayregen is a frequent lecturer and speaker, and also has published numerous articles on insolvency, fiduciary duty and distressed M&A issues. He also served for three years as an Adjunct Professor at the University of Chicago Booth School of Business and for one year as an Adjunct Professor at New York University School of Law.

Kyle Cruz - Senior Managing Director, Centerbridge Partners
Kyle Cruz

Kyle Cruz

Senior Managing Director, Centerbridge Partners

Mr. Cruz joined Centerbridge in 2007 and currently focuses on investments in the Industrials, Media, Telecom & Technology and Energy & Power sectors. Prior to joining Centerbridge, Mr. Cruz was a Vice President at Diamond Castle Holdings ("Diamond Castle"), a private equity firm founded by former senior professionals of DLJMB. Prior to Diamond Castle, Mr. Cruz had worked as an Associate at DLJMB and J.W. Childs Associates, a Boston-based private equity firm. Mr. Cruz began his career as an Analyst in the Mergers & Acquisitions department of Goldman Sachs. Mr. Cruz graduated Phi Beta Kappa from the University of Michigan where he earned a B.B.A., with high distinction, and received an M.B.A., with honors, from The Wharton School of the University of Pennsylvania, where he was a Palmer Scholar. Mr. Cruz serves on the Boards of Directors of Patriot Container Corp., Aquilex Holdings LLC, Penhall Holding Company and Seitel Holdings, Inc.

Ted Goldthorpe - President, Apollo Investment Corp.
Ted Goldthorpe

Ted Goldthorpe

President, Apollo Investment Corp.

Ted J. Goldthorpe is President of Apollo Investment Corporation (“AIC”) and Chief Investment Officer of Apollo Investment Management (“AIM”). Mr. Goldthorpe joined Apollo in April 2012 and oversees the entire Opportunistic Credit platform within Apollo Management. Previously, Mr. Goldthorpe was employed by Goldman Sachs for 13 years. He served most recently as a Managing Director with the Bank Loan Distressed Investing Desk (2009 to 2012), and prior to that Mr. Goldthorpe was a Managing Director with the Special Situations Group within the firm’s Securities Division (2005 to 2009). Prior to that, Mr. Goldthorpe was a Vice President in the High Yield Distressed Group (2001 to 2005), an analyst in the Merchant Banking Division (2000 to 2001), and an analyst in the Investment Banking Division (1999 to 2000). Mr. Goldthorpe received a B.A. in Commerce from Queen’s University in Kingston, Ontario. Mr. Goldthorpe currently serves on the Global Advisory Board for the Queen’s.

Stephen G. Moyer, CFA - President, Distressed Debt Alpha
Stephen G. Moyer, CFA

Stephen G. Moyer, CFA

President, Distressed Debt Alpha

Steve Moyer is the Founder and President of Distressed Debt Alpha. Prior to founding his firm, he was a Portfolio Manager with PIMCO where he helped establish and manage the PIMCO Distressed Credit Fund. Before joining PIMCO he was a Director with Tennenbaum Capital Partners in Los Angeles, a private investment and hedge fund complex with over $7.5 billion in assets under management. Prior to joining TCP, Mr. Moyer was the Director of Research at Imperial Capital, a boutique investment bank focusing on distressed securities investment opportunities. In his over 20 years of experience in the investment industry he has also been affiliated with Banc of America Securities, Kemper Securities (now Wachovia), Drexel Burnham Lambert and The First Boston Corporation (now Credit Suisse). Mr. Moyer began his career as a lawyer, initially with Jones Day and later with Riordan & McKenzie.

Mr. Moyer received his B.A. from Grinnell College, an M.B.A. from the University of Chicago and a J.D. from Stanford Law School. He is a Chartered Financial Analyst and has passed the Uniform Public Accounting Examination. Steve is a frequent speaker on the topic of distressed securities investing at industry conferences and academic institutions and is the author of Distressed Debt Analysis: Strategies for Speculative Investors (J. Ross Publishing 2005).

Thomas Wagner - Co-Founder, Knighthead Capital Management
Thomas Wagner

Thomas Wagner

Co-Founder, Knighthead Capital Management

Mr. Wagner co-founded Knighthead Capital Management in 2008 after being involved in the distressed and high yield business for many years.

Prior to Knighthead’s founding, Mr. Wagner was most recently employed by Goldman, Sachs & Co., where he was a managing director responsible for running the distressed and high yield credit trading desks. He also co-managed the firm’s Capital Structure Franchise Trading desk which combined the trading of credit and equity products issued by stressed and distressed companies. Mr. Wagner oversaw 22 traders specializing in a variety of credit and equity products including cash bonds, credit default swaps, listed and OTC equities, convertible bonds, preferred stock and equity options. Mr. Wagner was also active in the firm’s mentoring, recruiting and diversity programs.

Prior to joining Goldman in 2000, he was employed for two years at Credit Suisse First Boston (“CSFB”) as a high yield trader and special situations desk analyst. Mr. Wagner graduated Beta Gamma Sigma from Columbia Business School in 1999 and worked full time at CSFB during his second year of studies. Prior to attending business school, he worked for 5 years at Ernst & Young, LLP in the firm’s hedge fund practice providing audit and consulting services to a wide range of investment funds. During his tenure at Ernst & Young, LLP, Mr. Wagner was registered as a Certified Public Accountant in Massachusetts and the Cayman Islands. Mr. Wagner graduated from Villanova University with a Bachelor of Science in Accounting in 1992.

Case Study

AMF Bowling, Inc. - Bowling a Strike in the Middle Market

AMF Bowling, Inc. operates the largest portfolio of bowling centers in the United States. After emergence from its first Ch. 11 in 2004, the company undertook significant restructuring activities to improve the business. However, in 2008, the company's profitability began to erode due to the economic downturn and general decline in the traditional bowling industry. High fixed costs, significant CAPEX, and burdensome debt (6x EBITDA) led to a significant drain on the company's liquidity and left the company with an uncertain future. The restructuring of AMF is a unique and complex middle market transaction that has resulted in a collaborative pre-arranged Chapter 11 bankruptcy process which will allow AMF to quickly emerge from Ch. 11. This panel will discuss the various strategic and financial perspectives of the key participants including the company's financial and legal advisors as well as advisors from the 1st lien lenders.

Kevin M. Carmody - Practice Leader, McKinsey & Company
Kevin M. Carmody

Kevin M. Carmody

Practice Leader, McKinsey & Company

Kevin specializes in crisis management and corporate restructurings on behalf of underperforming companies and their stakeholders. He is an accomplished leader in planning and implementing Title financial and operational turnarounds, enterprise improvement initiatives, cash flow enhancement initiatives, and complex stakeholder negotiations. He has over 15 years of interim management and restructuring advisory experience and has testified as an expert witness in federal and state courts.

Restructuring experience:

  • Restructuring advisor to American Airlines and AMF Bowling Worldwide, Inc.
  • CRO of Hayes Lemmerz, Inc., a $1.2B multi-national tier 1 automotive supplier, where he led a turnaround that resulted in the Company reducing its funded debt by 69% while reaching a consensual agreement with stakeholders to modify legacy retiree medical obligations, reduce its U.S. pension obligations and raise $200M in exit financing.
  • Restructuring Advisor to American Safety Razor, a $325M multi-national consumer goods manufacturer that filed for chapter 11. Kevin led a restructuring team that resulted in the Company being sold to a strategic investor at 6x projected EBITDA.
  • Regularly advises senior management teams, boards of directors, senior lenders and private equity funds in restructuring and crisis management roles. Other notable restructuring assignments include Tribune, Dura Automotive, Federal Mogul, WorldCom, New World Pasta, Parmalat, Fruit of the Loom, and Dade Behring.

Kevin began his career at Chrysler Corporation and was previously a Managing Director at AlixPartners, LLP. He holds an MBA from the University of Detroit-Mercy, and a BBA in Finance from Western Michigan University.

Kris Hansen - Partner, Stroock
Kris Hansen

Kris Hansen

Partner, Stroock

Kris Hansen is the Co-Chair of Stroock's nationwide Financial Restructuring Group. Throughout his career, he has guided his clients through numerous proceedings in bankruptcy and appellate courts across the country, as well as through many out-of-court situations. Mr. Hansen is a frequent panelist and lecturer on restructuring topics before corporate, professional and CLE audiences.

Mr. Hansen has been recognized every year since 2008 by Chambers USA: Leading Lawyers for Business, which describes him as "a phenomenal attorney and a brilliant deal-maker who understands all of the issues involved in proceedings." He is also featured in various national rankings in the area of Bankruptcy & Creditor/Debtor Rights, including The Best Lawyers in America and Super Lawyers. Additionally, he has been honored in industry-specific rankings, including both the K&A Restructuring Register and Turnaround & Workouts' "Outstanding Lawyers" list.

Mr. Hansen holds a B.S. and a J.D. from Fordham University.

Patrick J. Nash, Jr., PC - Partner, Kirkland & Ellis LLP
Patrick J. Nash, Jr., PC

Patrick J. Nash, Jr., PC

Partner, Kirkland & Ellis LLP

Patrick Nash is a partner in the restructuring practice group of Kirkland & Ellis LLP. He represents a variety of clients in complex business reorganizations, troubled company M&A, debt restructurings, and financing matters. He has counseled companies experiencing financial difficulties, purchasers of and investors in distressed companies, and lenders to and creditors of such companies.

Some of Mr. Nash’s recent representative matters have included Hawker Beechcraft Inc., Tronox Incorporated, FGIC Corporation, U.S. Concrete, Inc., VeraSun Energy Corporation, Meridian Technologies, an ad hoc committee of senior secured noteholders as lead counsel in the Chapter 11 cases of Constar, and an ad hoc committee of senior secured noteholders as co-lead counsel in the Chapter 11 cases of TerreStar, among others.

Mr. Nash was selected as one of the nation’s “Outstanding Young Restructuring Lawyers” in 2008 by Turnarounds & Workouts. He earned a J.D. from the University of Illinois College of Law and a B.A. from the University of Notre Dame.

Morgan Suckow - Managing Director, Miller Buckfire
Morgan Suckow

Morgan Suckow

Managing Director, Miller Buckfire

Morgan Suckow is a Managing Director of Miller Buckfire. Mr. Suckow’s experience includes representing both companies and creditors in out-of-court and Chapter 11 restructuring transactions, as well as advising companies and their sponsors on M&A and other strategic advisory assignments. Mr. Suckow has led transactions across a wide range of industries, most notably in the Retail, Energy and Aviation sectors. Notable clients include Calpine Corporation, Kmart Corporation, American Airlines (Allied Pilots Association), Standard Pacific Corporation, Mirant Corporation (Corp. Creditor Committee), The Great Atlantic & Pacific Tea Company (Second Lien Lenders), Aveos Fleet Performance, Eurotunnel (Swap Counterparties), Orchard Brands (Second Lien Lenders), The Weinstein Company, American Apparel (Second Lien Lenders), Mervyns, Independence Air, TECO Energy, Carmike Cinemas, BTI Telecom, AMF Bowling I (Bank Group), AMF Bowling II (First Lien Lenders) and the largest equity holder in SpectraSite Holdings.

Mr. Suckow is a former member of the financial restructuring group of Dresdner Kleinwort Wasserstein, which he joined in 2000. Mr. Suckow has a B.S.E. in electrical engineering and computer science from Duke University.

Financial Restructuring

The Muni Storm on the Horizon

With the economy’s slow recovery, inflationary cost pressures and large financial commitments to their stakeholders, municipalities face growing budget shortfalls with limited tools to find a solution.  Jefferson County, Stockton, Central Falls, and San Bernadino filed chapter 9 in the last couple of years, and others cities are teetering on the brink.  This panel will discuss the indicators of distress, venues, key players, legal framework and municipal bond markets to explore the opportunities and challenges that lay ahead for professionals in municipal restructuring.

Panelists:

William J. Nolan - Senior Managing Director, FTI Consulting (Moderator)
William J. Nolan

William J. Nolan

Senior Managing Director, FTI Consulting (Moderator)

William Nolan is a senior managing director for FTI’s Corporate Finance practice based in Charlotte. Mr. Nolan has worked in all areas of corporate recovery including working with senior management in business turnarounds and corporate bankruptcy. He has over twenty years of diverse financial consulting and management experience.

Mr. Nolan has considerable experience working with senior management teams in the areas of financial and operational restructuring, loan workouts and business planning. He has assisted management in developing business plans, devising short to medium term financial strategies and projections for use in troubled debt restructures, and implementing controls over cash expenditures, overhead and operating costs.

Mr. Nolan’s diverse background extends to municipalities, financial services, healthcare, higher educations and real estate wherein he has served as advisor to companies, and advised secured creditors, and unsecured creditors committees in out-of-court and in bankruptcy distressed situations.

Mr. Nolan co-leads FTI’s Distressed Municipality and Government Initiative. As part of that Initiative, Mr. Nolan led FTI’s engagement for Jefferson County, Alabama and is currently co-leading our engagement for the City of Philadelphia. He is also working with the team who is advising the bond insurer of certain bonds issued by the City of San Bernardino. In addition, Mr. Nolan has served as a financial advisor to the counterparties in the restructuring of a large bond insurer and guarantor of municipal bonds. He has served as a financial advisor to a large bond insurer in assisting in the turnaround of a historically black college. On behalf of a large bank group, Mr. Nolan also worked with the City of Detroit in dealing with over 4,000 low income rental units in order to identify and transfer the properties to the care of the City. In addition, while at a predecessor firm, Mr. Nolan served as the lead manager on an engagement for the Pennsylvania Intergovernmental Cooperation Authority (“PICA”), which was the oversight committee established by the State Legislature to oversee the finances of the City of Philadelphia when it was teetering on the brink of bankruptcy. Prior to joining FTI, Mr. Nolan was a member of Mellon Bank’s Special Industries Group which focused on financing for municipalities, health care and higher education institutions.

Prior to its acquisition by FTI, Mr. Nolan served as a partner in the US division of PricewaterhouseCoopers’ Business Recovery Services group. Mr. Nolan holds a MBA in Finance from the University of Pennsylvania’s Wharton School of Business and a BS in Economics from the University of Delaware.

Jamie Baird - Managing Director, Blackstone
Jamie Baird

Jamie Baird

Managing Director, Blackstone

Jamie Baird is a Managing Director in the Restructuring & Reorganization Group.

Since joining Blackstone in 2002, Mr. Baird has advised companies such as American General Finance (AGF), American International Group (AIG), Bresler & Reiner, Ford, General Motors, Horsehead Industries, Houghton Mifflin Harcourt, International Lease Finance Corp (ILFC), Minneapolis Star Tribune, Mohegan Tribal Gaming Authority, Pacific Lumber Company, Sea Research Foundation (Mystic Aquarium), SemGroup, and Toshiba.  Mr. Baird has assisted a number of these clients in managing their exposure to post-retirement employee benefits through the use of VEBA trusts.

Mr. Baird has also advised creditors in the restructurings of Borders Group, Covalent Materials, Dura Automotive Systems, Jefferson County (Birmingham, Ala.), and Meridian Automotive Systems.

Mr. Baird received an A.B. from Bowdoin College and an M.B.A. with honors from Columbia Business School.

Lewis G. Feldman - Partner, Goodwin Procter
Lewis G. Feldman

Lewis G. Feldman

Partner, Goodwin Procter

Lewis G. Feldman is a partner in Goodwin Procter’s Business Law Department and a member of the Real Estate, REITs & Real Estate Capital Markets Group. He serves as the Chair of Goodwin Procter’s Los Angeles office and heads the firm’s Public/Private Development Practice. Mr. Feldman is considered to be among the nation’s leading real estate and public finance attorneys, specializing in structuring, entitling and executing large-scale financings for government and the private sector.

Mr. Feldman has advised clients on more than $75 billion in debt and equity transactions for market-rate and affordable apartments, master-planned residential communities, industrial and manufacturing facilities, urban entertainment centers, primary, secondary and university educational facilities, retail malls, hospitals, mixed-use projects, destination resorts and hotels, brownfield remediation, green building, mitigation banks, transportation projects and all forms of public infrastructure, such as water, wastewater, and energy facilities.

Prior to joining Goodwin Procter, Mr. Feldman was the managing partner of the Century City office of Pillsbury Winthrop Shaw Pittman, where he headed that firm's National Public Finance Practice and its Los Angeles Real Estate practice.

Mr. Feldman holds a B.A. from the University of California, Santa Cruz and a J.D. from the University of California, Davis. While attending law school, Mr. Feldman was Executive Editor of the UC Davis Law Review.

Sean Gumbs - Senior Managing Director, FTI Consulting
Sean Gumbs

Sean Gumbs

Senior Managing Director, FTI Consulting

Sean A. Gumbs is a Senior Managing Director in FTI’s restructuring and interim management practice and is based in New York. He has over 20 years of experience creating and maximizing value for stakeholders of troubled companies across a wide range of industries, including pharmaceuticals, forest products, manufacturing, homebuilding, financial services, retail, restaurants, software publishing, oil distribution and real estate.

Mr. Gumbs is actively involved in FTI’s municipal finance service offering which leverages the firm’s capabilities across our corporate finance, forensic/litigation, economic consulting and strategic communications practices. He advised Jefferson County, Alabama on restructuring alternatives for its General Fund given the loss of substantial tax receipts. Mr. Gumbs is currently advising the bondholders to the Santa Rosa Bay Bridge Authority and the City of Philadelphia to identify savings with third party spend and enhancement to the revenue collections process.

Mr. Gumbs’ corporate restructuring experience includes:

  • MF Global – Serving as financial advisor to Louis J. Freeh, the Chapter 11 Trustee for the MF Global holding company, finance company and associated entities.
  • CIT Group Inc. (“CIT”) – Served as financial advisor and led the development of a complex integrated financial operating model that has served as a strategic business planning tool for senior management.
  • WCI Communities, Inc. (“WCI”) – Served as financial advisor to this Florida-based luxury homebuilder. Mr. Gumbs played a key role in bridging the parties to restructure $1.8 billion in debt, allowing WCI to be the only homebuilder in recent history to successfully restructure under Chapter 11.
  • Heating Oil Partners, LP. (“HOP”) – Negotiated a plan of reorganization and raised $125 million of exit financing for this $540 million oil distributor. Mr. Gumbs served as financial advisor and later as Interim Chief Financial Officer.
  • International Outsourcing Services, LLC (“IOS”) – Served as CFO of this coupon processor/contract manufacturer following the indictment of the Company and its top 9 executives by the U.S. Attorney (“AUSA”) for wire fraud. Mr. Gumbs negotiated with the AUSA to dismiss charges against IOS, executed cost reduction initiatives, negotiated settlements with multiple creditors and completed the divestiture of 5 separate divisions.

Mr. Gumbs holds a BS in Economics from the Wharton School at the University of Pennsylvania and an MBA from the Harvard Business School. He is a former board member of the TMA, a Certified Turnaround Professional, a Certified Insolvency and Restructuring Advisor and has co-authored several articles on restructuring issues.

James E. Pass - Managing Director, Portfolio Manager, Guggenheim Investments
James E. Pass

James E. Pass

Managing Director, Portfolio Manager, Guggenheim Investments

Mr. Pass joined Guggenheim Partners in 2009 and is responsible for the research, development and implementation of investment strategies for the firm’s municipal obligations, including tax-exempt and taxable bonds, Build America Bonds and tax-credit bonds. He is responsible for building and managing the firm’s military housing and municipal hybrid activities, making the firm a leader in those sectors amount institutional investors. Mr. Pass and his Municipal Investment Team successfully grew municipal holdings and were instrumental in launching multiple funds. Prior to joining Guggenheim, Mr. Pass was Managing Director at RBC Capital Markets where he headed the firm’s Midwest Region. He earned his B.A in Diplomatic History and Political Science from the University of Pennsylvania. Due to the breath of his industry knowledge, Mr. Pass has been featured in multiple publications and spoke to various associations in the industry, including Bloomberg Press, Bloomberg Live, The Bond Buyer, National Federation of Municipal Analysts and National Association of State Treasurers.

Rebecca Rhynhart - Budget Director, City of Philadelphia
Rebecca Rhynhart

Rebecca Rhynhart

Budget Director, City of Philadelphia

Rebecca Rhynhart was appointed Budget Director for the City of Philadelphia in November 2010. In this role, she is responsible for the City’s $7.4 billion operating budget, including the $3.6 billion general fund operating budget and the operating budgets for Water, Aviation, and Grants Funds. In addition, she is responsible for the City’s $10 billion six-year capital program. Rebecca was the City Treasurer prior to being appointed the Budget Director.

Prior to joining the City in 2008, Rebecca headed up the Tax-Exempt Group in Bear Stearns’ Global Credit Department, assessing the creditworthiness of municipalities and not-for-profit organizations for derivative trading. From 2001 to 2005, she worked as a credit analyst for Fitch Ratings.

Rebecca received her Masters of Public Administration from Columbia University and her Bachelor of Arts from Middlebury College.

Panelists:

Alan D. Holtz - Managing Director, AlixPartners
Alan D. Holtz

Alan D. Holtz

Managing Director, AlixPartners

Alan Holtz has been a Managing Director in AlixPartners’ Turnaround and Restructuring Services group since 2006, primarily focused on companies under $1 billion, and he co-leads the group’s Transformation and Retructuring practice. For the past 25 years, he has advised on all aspects of the financial restructuring process, including bankruptcy planning, business planning and analysis, cash management, operational improvement, creditor information management, valuation and the structuring and negotiation of plans of reorganization. Alan has provided these services to companies and their management and directors, and also to financial institutions and creditors’ committees, across a wide variety of industries.

Alan has been involved in dozens of major restructurings and out-of-court workouts. Recent clients include the Official Creditors’ Committees of Residential Capital and of (Chicago) Tribune Company, Media General, SP Newsprint, The Newark Group, and White Birch Paper, in a cross-border Canadian restructuring. Previously, he led a team at Remy International, a Tier 1 automotive supplier that restructured through a landmark 59-day prepackaged Chapter 11. The Turnaround Management Association (TMA) has recognized Alan and the AlixPartners team with its Transaction of the Year award for the successful Remy restructuring.

Highlights of Alan’s prior experience include: Barney’s, Borden Chemicals & Plastics, Charys, Dana, Eastern Air Lines, Enron, KB Toys, National Amusements, Payless Cashways, Pillowtex, Popeye’s, U.S. Concrete, and USG.

Alan received a bachelor’s degree in economics from the Wharton School at the University of Pennsylvania.

He is past chairman and past president of the Association of Insolvency and Restructuring Advisors (AIRA) and is a Certified Public Accountant and a Certified Insolvency and Restructuring Advisor. Alan is also a member of the American Bankruptcy Institute and the American Institute of Certified Public Accountants, sits on the board of Newark Public Radio-WBGO and is a frequent speaker and author on the subject of corporate restructuring.

Platinum Sponsor

Alvarez & Marsal

Gold Sponsors

AlixPartners FTI Consulting Kirkland & Ellis LLP McKinsey & Company Schulte Roth & Zabel LLP Weil

Silver Sponsors

Blackstone Lazard Oaktree Versa Capital Management Wharton Private Equity Partners

Media and Other Sponsors

American Bankruptcy Institute AIRA Bloomberg Brief The Deal Debtwire DDI Dow Jones LCD Reuters TMA