Turnaround Issues

ABCs and state receiverships are not the only chapter 11 alternatives. With even middle-market companies having widely held and tradeable note instruments, the exchange offer provides an out-of-court alternative that, if successful, can provide most of the benefits of a confirmed chapter 11 plan, and if unsuccessful, can still provide the basis for a confirmable prepackaged plan. The panel will provide an introduction to exchange offers: the goals, mechanics and documents. The panel will also explore the current thinking on the short reach of the Trust Indenture Act in exchange offers after the Second Circuit Court of Appeals’ decision in Marblegate Asset Management vs. Education Management Corp. In addition, the panel will explore opportunities to use strict foreclosure and other consensual, or nonconsensual, workouts, wind-downs and liquidations to maximize value.

ABCs and state receiverships are not the only chapter 11 alternatives. With even middle-market companies having widely held and tradeable note instruments, the exchange offer provides an out-of-court alternative that, if successful, can provide most of the benefits of a confirmed chapter 11 plan, and if unsuccessful, can still provide the basis for a confirmable prepackaged plan. The panel will provide an introduction to exchange offers: the goals, mechanics and documents. The panel will also explore the current thinking on the short reach of the Trust Indenture Act in exchange offers after the Second Circuit Court of Appeals’ decision in Marblegate Asset Management vs. Education Management Corp. In addition, the panel will explore opportunities to use strict foreclosure and other consensual, or nonconsensual, workouts, wind-downs and liquidations to maximize value.

This panel will discuss all aspects of the Jay Alix Protocol, including tips for attorneys and advisors for meeting its requirements, and recent bankruptcy court decisions regarding its continuing vitality. The panel will also address other current issues regarding debtors’ retention of distressed management consultants and similar advisors.

This year the conference opens with ABI Talks, one of our highest-rated programs ever! Based on the incredibly popular “TED Talks” format, ABI Talks address diverse and interesting bankruptcy topics. If you consider yourself a bankruptcy guru, or just want to be one, you will not want to miss this featured session! DID THAT REALLY HAPPEN IN COURT TODAY? Judge Carey will take a reminiscent trip through a typical day in court by recounting the successful presentations and skill sets employed by lawyers that work really well for him, as well as the ones that don’t — all in an entertaining and informative way. #METOO: WHERE I’VE BEEN, AND WHERE BANKRUPTCY PROFESSIONALS ARE GOING Cathy Hershcopf graduated from law school in 1985 and entered into “big law” restructuring practice immediately — a world where women were rarely found. Her personal journey is one that will resonate, especially in today’s environment. Her impactful talk will also present, in an interactive format, several challenging fact scenarios from the legal workplace for the audience to consider. SOVEREIGN CITIZENS MOVEMENT (BEST MID-ATLANTIC BANKRUPTCY WORKSHOP PROGRAM) Tom Horan will introduce everyone to the beliefs of sovereign citizens — a loose collection of individuals who contend that the U.S. government is illegitimate and who seek to transform American society into one where government plays a minimal role. Find out what happens when their belief system collides with the Bankruptcy Code and the courts. A ROSE IS A ROSE IS A ROSE — OR IS IT? Is a deposit in a bank a transfer of the debtor’s assets? Ron Peterson will discuss this and more, as well as review appellate court decisions of the Fourth, Sixth, Seventh and Ninth Circuits. THE JAY ALIX/MCKINSEY DISPUTE: "SOUR GRAPES" TEMPEST IN A TEAPOT, OR THE NEW NORMAL? Tom Salerno will explore the dynamics of the extraordinary pending litigation involving retention disclosures between McKinsey & Co. and Jay Alix, and will discuss the potentially far-reaching legal, political and practical ramifications of that dispute for the restructuring community on all sides of the industry. Is this a tipping point for the bankruptcy world that will create a new industry order, or just a “sour grapes,” spurned advisor’s tempest in a teapot?

This panel of experts leave conference attendees with key takeaways that will help them know where to find their next opportunities. These experts highlight the financial and legal issues facing the distressed sectors of the industry that you need to know as you work through the restructuring issues facing these sectors.

What Effect Will Trade Wars Have on Industries and Restructurings? by INSOL International

In an environment of rapid technological change and political uncertainty, automotive suppliers face fresh challenges. This panel will explore the possibility of trade wars, the politics of infrastructure, and the challenges and possibilities presented by self-driving cars and emerging technologies.

During this session, the panelists will discuss the role and responsibility of boards of directors in monitoring for insolvency and taking action, along with a retrospective view of how this has unfolded in certain industries and what indicators were present. Finally, we will consider where valuations fall short at being predictive.