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Meetings & Events

Monday, September 20, 2004

8:00–8:30 am

Registration/Continental Breakfast

8:30–8:45 am

Introduction and Welcome

Michael P. Richman
Mayer, Brown, Rowe & Maw, LLP
ABI President

8:45–10:00 am

What’s Going on Out There? Analysis of the Current Environment and When and Why the Next Distress Cycle Will Occur

  • A look at the types of cases (mega, middle-market, small) filed over the last 12 months
  • Analysis of the economic factors that are likely to lead to the next distressed cycle, including the expected default rates on high-yield securities
  • Will the fulcrum class in the reorganization change in the next distress cycle? Why or why not?
  • Predictions on when or if we are likely to see an increase in chapter 11 filings

10:00–10:15 am

Coffee Break

10:15–11:30 pm

Does History Repeat Itself: Is This Chapter 11 a Chapter 22?

  • Do companies that emerge from chapter 11 continue to suffer from the operating problems that landed them there in the first place?
  • Is an adjustment to the capital structure sufficient to avoid future problems?
  • Are firms successfully emerging from chapter 11 or are they headed for further restructuring?

11:30 am–12:45 pm

Litigation Support: Are Disenfranchised Constituencies Using Litigation to Obtain a Post-confirmation Recovery?

  • A look at recent cases where constituencies who have received little or no value under a plan of reorganization are pursuing litigation claims to augment/obtain a recovery
  • The key role of valuation in litigation and dueling investment bankers as experts

12:45–2:00 pm

Luncheon with Christopher Buckley

Best-selling social and political satirist and editor of “Forbes FYI,” Christopher Buckley, will share his uniquely humorous perspective on current events and culture. Marked by a savvy understanding of the truth behind the headlines and a perceptive wit that holds no target sacred, Buckley delivers a comedic look at national politics and world affairs.

Sponsored by

2:00–3:15 pm

M&A Issues: Sell-side Dynamics

  • What challenges are debtors facing in conjunction
  • with the sale of all or part of their business in the current distress cycle?
  • Changes certain jurisdictions have adopted with respect to stalking horses and break-up fees

3:15–4:30 pm

Chapter 11 Financing: The Current Economic Climate

  • Are there more participants in the DIP financing market and how does this impact pricing?
  • Is exit financing more or less readily available under the current climate and what rates can debtors expect?
  • What changes/challenges are debtors in the chapter 11 financing market likely to see?

4:30–4:45 pm

Coffee Break

4:45–6:00 pm

Investment Banking Retention Issues and Ethics

  • Current issues/trends in indemnities for bankers, including exclusion from scope of indemnification for “bad acts;” attorneys fees for bankers if they retain counsel to defend themselves in the event a claim is asserted (and caps on fees, prior approval for retention of counsel or caps on amounts to be expended without seeking court approval);
  • Limitation on liability, i.e., if a banker is found to have liability under the terms of its retention arrangement, can the liability be limited to the amount the banker has been paid (or could be paid) under the order approving the retention, and carve out for “bad acts;” and the fallout from Farmland:

    Can and should courts require compensation for the professionals of “gadfly” committees to come from the recovery to that constituency?

6:00–8:00 pm

Cocktail Reception at the Hotel Sofitel

Sponsored by Gordian Group LLC, Houlihan Lokey Howard & Zukin and Jefferies & Company Inc


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