Friday, March 2, 2007
8:30–9:00 am
Registration/Breakfast
Sponsored by Milbank, Tweed, Hadley & McCloy, LLP
9:00–9:15 am
Introductory Remarks
9:15 am –10:30
pm
Pension Promises, Restructuring Reform and Municipal Insolvency The restructuring of millions of dollars of private pension
liabilities in large chapter 11 bankruptcy cases has given rise to
significant concerns for public pensioners. The panel will discuss the
Pension Protection Act of 2006, which contained sweeping changes to
pension plan maintenance and funding that will significantly alter the
way distressed issuers can restructure pension obligations. The panel
will also address the role of pension liability in the municipal
insolvency context.
- Moderator: Marc Bilbao, Imperial Capital
- Prof. Christopher Cameron, Southwestern University School
of Law
- Alen H. Martin, Sheppard, Mullin, Richter & Hampton
LLP
- Victor Vilaplana, Foley & Lardner LLP
10:30–10:45 am
Coffee Break
10:45–12:00 noon
Debating Inter-creditor Agreements: Valuation and Control
Issues
In recent years, debt-financed transactions involving complex and
sophisticated inter-creditor and subordination agreements have become
more commonplace. When today’s highly-leveraged enterprises fail,
will bankruptcy courts enforce these agreements in the way they were
intended? Bankruptcy attorneys Kenneth N. Klee (Klee,
Tuchin, Bogdanoff & Stern, LLP) and Michael Lurey(Latham
& Watkins, LLP) will debate the interpretation, implications and
enforceability of valuation and control issues in inter-creditor
agreements. Discussion by:
- Michael H. Goldstein
Stutman, Treister & Glatt, P.C.
- Lisa Hill Fenning
Dewey Ballantine LLP
- Hon. Vincent P. Zurzolo
USBC C.D. Cal., Los Angeles
12:00–1:15 pm
Luncheon Presentation: The Economic Effects of the Global War on
Terror
1:30–2:45 pm
The Vicinity of Insolvency: Recent Developments on the Ethical and
Fiduciary Duties of Officers, Directors and Other Parties
Recent decisions may cast a shadow on the notion that fiduciary
duties are owed to creditors once a company is in the “vicinity of
insolvency.” The panel will discuss and debate recent decisions
from Delaware and other jurisdictions concerning the scope and extent of
the fiduciary duties of officers, directors and other parties to a
corporation that is in the vicinity of insolvency. Topics will include
the viability of “deepening insolvency” as a cause of action
and measure of damages, the relevance and applicability of the business
judgment rule, and the standing of creditors to assert
breach-of-fiduciary-duty claims.
- Moderator: Marc J. Winthrop
Winthrop Couchot PC
- Peter J. Gurfein
Akin Gump Strauss Hauer & Feld LLP
- Edward Wolkowitz
Robinson, Diamant & Wolkowitz, APC
- David B. Shemano
Peitzman, Weg & Kempinsky LLP
2:45–3:00 pm
Coffee Break
3:00–4:15pm
Gearing Up for Real Estate Bankruptcies?
The once-soaring real estate market is slowing, and as money markets
tighten and interest rates rise, many are expecting the real estate
market to implode. The panel will discuss and debate the conditions of
the commercial real estate market and explore the economic and legal
conditions that may drive the next big wave of real estate bankruptcies.
The panel will debate how the Bankruptcy Code amendments may influence
and affect the strategies of constituents in real estate
bankruptcies.
- Moderator: Victor A. Sahn
SulmeyerKupetz, APC
- Debra Ann Riley
Allen Matkins Leek Gamble Mallory & Natsis LLP
- Jeffrey M. Reisner
Irell & Mannella LLP
- Peter Corbell
Chanin Capital Partners LLC
