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NEW YORK

SEVENTH ANNUAL

COMPLEX FINANCIAL

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Monday, September 20, 2010 Fordham University School of Law

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RESTRUCTURING PROGRAM


SEVENTH ANNUAL

AMERICAN BANKRUPTCY INSTITUTE

COMPLEX FINANCIAL RESTRUCTURING PROGRAM

WELCOME

NOW

in its seventh year, the ABI Complex

Financial Restructuring Program (CFRP) offers a unique opportunity to gain an understanding of the various roles played by investment bankers, financial advisers and other stakeholders in today’s complex cases. Using a case study of a hypothetical–but all too real–distressed situation, the CFRP dramatizes the roles played by parties-in-interest as they examine strategic alternatives and seek the highest value for a troubled company. Experienced professionals from the fields of finance, investment banking, accounting, law and turnaround play the roles of the constituencies–company board, management, secured debt, trade creditors, attorneys and advisers, the government and others–throughout the one-day program. From the decision on whether to file for bankruptcy through the exit strategy, the parties grapple with the real-world problems in real time. Their positions frequently conflict and the debates can be heated, just as in today’s cases. Registrants for the CFRP will receive the case (including detailed financials) in advance by e-mail. Reviewing these materials before the program will materially assist your ability to follow the presentations on the various panels. An added feature of the CFRP is the First Annual Anthony H.N. Schnelling Lecture in Commercial Bankruptcy. The annual lecture will feature a leading figure in the restructuring world, as a tribute to the memory of Tony Schnelling, a former ABI Vice President-Development. This year’s first lecturer is Hon. Burton R. Lifland, who, like Tony, is an alumnus of Fordham University Law School. WE LOOK FORWARD TO SEEING YOU AT THIS UNIQUE EVENT!


SEVENTH ANNUAL

AMERICAN BANKRUPTCY INSTITUTE

COMPLEX FINANCIAL RESTRUCTURING PROGRAM

PROGRAM Monday, Sept. 20 7:00 -8:00 a.m.

Breakfast Networking & Registration

8:00-8:05 a.m.

Welcome & Introduction Howard Brod Brownstein Brownstein Corp.; Conshohocken, Pa.

8:05-8:30 a.m.

Case Study Set Up Lorie R. Beers Seabury Group LLC; New York Kathryn Anne Coleman Hughes Hubbard & Reed LLP; New York THE CASE

The CFRP faculty will address the hypothetical case of Vandelay Industries Inc. This case study was prepared by Houlihan Lokey for use in ABI’s 2009 Corporate Restructuring Competition. Vandelay, a maker of plastic products used in various consumer and commercial applications, is a portfolio company of Maestro Equity Partners, a private-equity firm. Vandelay has incurred a significant amount of debt and experienced poor financial performance. The online materials for this case contain all of the information you need to prepare for the CFRP. Your familiarity with the facts, circumstances and data contained herein will allow you to maximize the benefit of the program. Check all current updates at: www.abiworld.org/CFRP10/case.html

8:30-10:00 a.m.

TOPIC 1: SHOULD VANDELAY FILE FOR CHAPTER 11?

Peter S. Kaufman, Moderator Gordian Group, LLC; New York

Panel 1: Maestro (private-equity owner), Counsel to Maestro, Senior Executives of Vandelay, Counsel for Vandelay and Vandelay Investment Banker (IB) Kathryn Anne Coleman Hughes Hubbard & Reed LLP; New York J. Scott Victor SSG Capital Advisors, LLC West Conshohocken, Pa. Joel M. Walker Duane Morris LLP; Pittsburgh Suzanne S. Yoon Versa Capital Management, Inc.; Chicago Panel 2: 1st Lien Lenders, Counsel for 1st Lien Lenders, Investment Banker for 1st Lien Lenders and 2nd Lien Lenders Ira L. Herman Thompson & Knight LLP; New York Perry Mandarino PricewaterhouseCoopers LLP; New York Robin E. Phelan Haynes and Boone, LLP; Dallas Panel 3: Unsecured Creditors, Committee, U.S. Trustee and Chief Restructuring Officer (CRO) Tracy Hope Davis Office of the U.S. Trustee; New York Sheon Karol CRG Partners Group LLC; New York Keith J. Shapiro Greenberg Traurig, LLP; Chicago

10:00-10:15 a.m.

Refreshment Break


10:15-11:45 a.m.

11:45 a.m-12:30 p.m.

Richard E. Mikels, Moderator Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC; Boston

Lorie R. Beers, Moderator Seabury Group LLC; New York

TOPIC 2: DEBTOR IN POSSESSION FINANCING ISSUES

Panel 1: CRO, Counsel to Maestro, Counsel for Vandelay and Vandelay IB Kathryn Anne Coleman Hughes Hubbard & Reed LLP; New York Sheon Karol CRG Partners Group LLC; New York Joel M. Walker Duane Morris LLP; Pittsburgh J. Scott Victor SSG Capital Advisors, LLC West Conshohocken, Pa. Panel 2: Counsel for Vandelay, Counsel for 1st Lien Lenders and 1st Lien Lenders IB Kathryn Anne Coleman Hughes Hubbard & Reed LLP; New York Perry Mandarino PricewaterhouseCoopers LLP; New York Joel M. Walker Duane Morris LLP; Pittsburgh Panel 3: Priming Debtor in Possession Lender, 2nd Lien Lenders and Counsel for Vandelay Kathryn Anne Coleman Hughes Hubbard & Reed LLP; New York Jonathan M. Landers Milberg LLP; New York Robin E. Phelan Haynes and Boone, LLP; Dallas

TOPIC 3: RUNNING THE BUSINESS IN BANKRUPTCY

11:45-12:30 p.m.

CRO, Senior Executives, Counsel to Vandelay, U.S. Trustee and Unsecured Creditors, Committee Kathryn Anne Coleman Hughes Hubbard & Reed LLP; New York Tracy Hope Davis Office of the U.S. Trustee; New York Sheon Karol CRG Partners Group LLC; New York Keith J. Shapiro Greenberg Traurig, LLP; Chicago

12:30-1:25 p.m.

Networking Lunch

1:30-2:00 p.m.

Anthony H.N. Schnelling Lecture Series Keynote Speaker Hon. Burton R. Lifland U.S. Bankruptcy Court (S.D.N.Y.) New York


2:00-3:00 p.m.

TOPIC 4: VALUATION OF VANDELAY: WHERE DOES VALUE BREAK IN THE CAPITAL STRUCTURE? TBD, Moderator

TBD TBD TBD TBD TBD

Panel 1: CRO, Counsel to Vandelay, Vandelay IB, 1st Lien Lenders and IB to 1st Lien Lenders Ira L. Herman Thompson & Knight LLP; New York Sheon Karol CRG Partners Group LLC; New York Perry M. Mandarino PricewaterhouseCoopers LLP; New York J. Scott Victor SSG Capital Advisors, LLC West Conshohocken, Pa. Panel 2: CRO, Counsel to Vandelay, Vandelay IB and Counsel to Maestro Kathryn Anne Coleman Hughes Hubbard & Reed LLP; New York Sheon Karol CRG Partners Group LLC; New York J. Scott Victor SSG Capital Advisors, LLC West Conshohocken, Pa. Joel M. Walker Duane Morris LLP; Pittsburgh

3:00-3:40 p.m.

TOPIC 5: TREATMENT UNDER A PLAN OF REORGANIZATION

TBD, Moderator TBD TBD TBD TBD TBD

Panel 1: CRO, Counsel to Vandelay and Counsel to Maestro Kathryn Anne Coleman Hughes Hubbard & Reed LLP; New York Sheon Karol CRG Partners Group LLC; New York Joel M. Walker Duane Morris LLP; Pittsburgh Panel 2: 1st Lien Lenders, 2nd Lien Lenders, Unsecured Creditors, CRO and Eastside (stalking-horse bidder) Ira L. Herman Thompson & Knight LLP; New York Jay Jacquin Morgan Joseph & Co. Inc.; New York Robin E. Phelan Haynes and Boone, LLP; Dallas Keith J. Shapiro Greenberg Traurig, LLP; Chicago

3:40-4:00 p.m.

Networking Coffee Break


4:00-4:30 p.m.

TOPIC 6: VANDELAY’S EXIT FROM BANKRUPTCY

Vandelay Counsel, 1st Lien Lenders, 2nd Lien Lenders, Unsecured Creditors and Maestro Kathryn Anne Coleman Hughes Hubbard & Reed LLP; New York Ira L. Herman Thompson & Knight LLP; New York Robin E. Phelan Haynes and Boone, LLP; Dallas Keith J. Shapiro Greenberg Traurig, LLP; Chicago Joel M. Walker Duane Morris LLP; Pittsburgh

4:30-5:00 p.m. WRAP-UP

Monday Morning Quarterbacking Lorie R. Beers Seabury Group LLC; New York Howard Brod Brownstein Brownstein Corp. Conshohocken, Pa. Kathryn Anne Coleman Hughes Hubbard & Reed LLP; New York Peter S. Kaufman Gordian Group, LLC; New York

4:30-5:00 p.m.

Cocktail Reception

SEVENTH ANNUAL

AMERICAN BANKRUPTCY INSTITUTE

COMPLEX FINANCIAL RESTRUCTURING PROGRAM

FACULTY CONFERENCE CO-CHAIRS

Lorie R. Beers Seabury Group LLC; New York Howard Brod Brownstein Brownstein Corp; Conshohocken, Pa.

FACULTY

Tracy Hope Davis Office of the U.S. Trustee; New York Ira L. Herman Thompson & Knight LLP; New York Sheon Karol CRG Partners Group LLC; New York Jonathan M. Landers Milberg LLP; New York Perry M. Mandarino PricewaterhouseCoopers LLP; New York Richard E. Mikels Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC; Boston

Kathryn Anne Coleman Hughes Hubbard & Reed LLP; New York Peter S. Kaufman Gordian Group, LLC; New York Robin E. Phelan Haynes and Boone, LLP; Dallas Craig V. Rasile Hunton & Williams LLP; Miami Keith J. Shapiro Greenberg Traurig, LLP; Chicago J. Scott Victor SSG Capital Advisors, LLC West Conshohocken, Pa. Joel M. Walker Duane Morris LLP; Pittsburgh


AMERICAN BANKRUPTCY INSTITUTE COMPLEX FINANCIAL RESTRUCTURING PROGRAM

R E G I S T R AT I O N Name_______________________________________________________ Nickname___________________________________________________ Firm/Company_______________________________________________ Title________________________________________________________ Address_____________________________________________________ City________________________________________________________ State __________________Zip__________________________________ Telephone ( )____________________________________________ Fax ( )_ ________________________________________________ E-mail______________________________________________________ CONFERENCERATES

Early Bird Regular Late (postmarked by 7/23/10) (7/24/10-8/20/10) (after 8/20/10) o $495 o $545 o $595

ABI Member ABI Gov. / Academic Member New Member* Gov. / Academic New Member*

o $195 o $745 o $290

o $245 o $795 o $340

o $295 o $845 o $390

* Includes a one-year ABI membership for first-time members - a $275 value! Expired members should select the member rate and add in the membership renewal fee below. You must be an ABI member to attend the program.

CONTINUINGEDUCATION CREDIT

o CLE/CPE (Circle One)

Credit State(s) _______________________________ Bar No. ____________________________________

ABI MEMBERSHIPRENEWAL

Regular Govt./Academic/Nonprofit

$275 $95

$______ $______

CANCELLATIONPOLICY All fees, except a $75 handling fee, will be refunded if notice of cancellation is received in writing by August 30, 2010. No refunds will be made if notice is received after August 30, although substitutions will be allowed. Upon written request within 30 days of the conference, a coupon for 20% off the registration fee (not including optional events) will be issued, which can be used (by the cancelling registrant only) for any ABI educational program up to one year after this conference, or for this same conference next year.

PAYMENT TOTAL $____________ o Check payable to American Bankruptcy Institute enclosed. o Charge to Credit Card

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ow

Acct. No. _______________________________ Exp. Date __________ Signature___________________________________________________


CONFERENCE INFORMATION SEVENTH ANNUAL AMERICAN BANKRUPTCY INSTITUTE

COMPLEX FINANCIAL RESTRUCTURING PROGRAM

I N F O R M AT I O N ABOUT ABI

The American Bankruptcy Institute is the nation’s largest association of bankruptcy professionals, with nearly 12,600 members. ABI members represent both debtors and creditors in consumer cases, and more than 75 percent of U.S. bankruptcy judges are ABI members. ABI is the nation’s largest provider of continuing legal education in bankruptcy matters; more than 6,000 members attend programs annually. Founded in 1982, ABI is nonprofit and nonpartisan and is located just outside Washington, D.C.

CONTINUING EDUCATION CREDIT

Approval for approximately 8 hours of CLE credit is pending in New York and other 50minute states. Approximately 6.75 hours of CLE credit is pending in 60-minute states. 8 hours of CPE credit is also available. Mark the appropriate box on the registration form. California MCLE: ABI certifies that this activity has been approved for MCLE credit by the State Bar of California in the amount of 6.75 hours. ABI offers intermediate-level courses, which assume that attendees have some knowledge in insolvency matters. ABI 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 the final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Ave. North, Suite 700, Nashville, TN, 37219-2417, or www.nasba.org. For more information regarding administrative policies such as complaint and refund, please contact the American Bankruptcy Institute at (703) 739-0800. ABI acknowledges that in some instances there will be persons who need to attend an educational seminar for CLE credit who are not able to pay full registration fees. ABI will handle such instances on a case-by-case basis and will work with the individual on alternative solutions. For persons who cannot meet the full registration rate, ABI will offer a reduced rate based on what the individual can reasonably afford to cover the cost of meals and materials. For persons unable to pay a reduced rate, ABI may allow the individual to work at the registration area for a few hours during attendee check-in, or assist in conference set up. ABI also has reduced rates for government employees, professors, law clerks and students. For more information, please contact the American Bankruptcy Institute at (703) 739-0800 or send an e-mail to snelligan@abiworld.org.

CONTACT ABI

Call ABI at (703) 739-0800, or visit ABI World at www.abiworld.org/CFRP10. Fax credit card orders to (866) 921-1027, or send completed registration form and payment to: ABI, P.O. Box 34709, Alexandria, VA 22334-0709, Attn. CFRP10

register online:

www.abiworld.org/CFRP10


CONFERENCE INFORMATION SEVENTH ANNUAL AMERICAN BANKRUPTCY INSTITUTE

COMPLEX FINANCIAL RESTRUCTURING PROGRAM

SPONSORS CRG Partners Group LLC

Milberg LLP

Duane Morris LLP

Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC

Greenberg Traurig, LLP

Seabury Group LLC

Gordian Group, LLC

Haynes and Boone, LLP

Hughes Hubbard & Reed LLP Hunton & Williams LLP

PricewaterhouseCoopers LLP SSG Capital Advisors, LLC Thompson & Knight LLP

Anthony H.N. Schnelling

ENDOWMENT FUND online at: endowment.abi.org

The ABI Anthony H.N. Schnelling Endowment Fund was created in 1989 to provide resources for research and education. Projects eligible for funding include: studies relating to bankruptcy or insolvency; surveys or other analytical investigation; the education of judges, court personnel, other governmental personnel and the general public; scholarships or other educational grants; and any other projects with a material research or educational benefit to the bankruptcy and insolvency community. More than $1 million has been distributed.

Contributions are tax deductible. The ABI Endowment is a 501(c)(3) tax-exempt organization.

ENDOWMENT&RESEARCH

To donate to the fund, please check the appropriate box on the registration form or contact P.O. Box 34709 Alexandria, VA 22334-0709 Call: (703) 739-0800 Fax: (866) 921-1027

SEVENTH ANNUAL

AMERICAN BANKRUPTCY INSTITUTE

COMPLEX FINANCIAL RESTRUCTURING PROGRAM

PRESIDENTIAL PARTNERS


44 Canal Center Plaza Suite 400 Alexandria, VA 22314

www.abiworld.org/CFRP10

register online:

UP TO 8 HOURS OF CLE/CPE CREDIT PENDING!


CFRP 2010