Wednesday October 5, 2011

7:30-8:30 am

Breakfast Networking & Registration


Welcome & Introduction

Howard Brod Brownstein

The Brownstein Corp; Conshohocken, PA

Kathryn A. Coleman

Hughes Hubbard & Reed; New York

Thomas A. Morrow

AlixPartners; Detroit

8:30-9:15 am

Out of Court vs. Bankruptcy


Could the debtor be restructured out of court? Given the cost and inefficiency of the bankruptcy process, why does any company end up in bankruptcy other than to sell assets under §363 or enforce terms on holdout creditors (bondholders)?


9:20-10:20 am

Venue Selection

How much latitude should debtors be allowed in selecting venues that are most likely to result in a successful restructuring? How much weight should be given to logistical costs to creditors?


10:20-10:40 am

Coffee Break


10:40-11:45 am

Substantive Consolidation

Is merger at emergence the same as substantive consolidation? Should separate professionals be designated for subordinate debtors? How many committees?


11:45 am-12:00 noon



12:00-12:30 pm

Anthony H.N. Schnelling Lecture Series Keynote Speaker

Paula Rosput Reynolds

Former Vice Chairman and CRO of AIG


12:30-1:15 pm

Networking Lunch


1:15-2:00 pm

Treatment of Executory Contracts

Should executory contracts be allowed to be assumed or rejected if that action would be reasonably likely to cause other debtor(s) to liquidate? Do both debtor parties to the contract have equal rights to assume or reject? Do both parties have equal rights to compel performance?


2:00-3:30 pm

Part I: Credit Bid and Cramdown of Secured Debt

Can a reorganization plan cash out a secured claim at the value determined by the court (instead of a marketing process)? Does a secured creditor have an absolute right to credit-bid, or can it be trumped by the plan? Under what circumstances should debtors be allowed to cram down secured debt? Should any recovery be allowed to unsecured creditors if secured debt is crammed down?


3:30-3:45 pm

Coffee Break


3:45 - 5:00 pm

Part II: Credit Bid and Cramdown of Secured Debt

5:00-6:00 pm

Networking Reception

You may find the case study here


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