2016

This session, which is based on real case examples, addresses issues such as capital structure (debtor’s actual vs. industry average), cost of debt (debtor’s actual vs. industry average), and modifications to the CAPM (e.g., size premium).

Gain practical insight for owners, investors, lawyers and financial advisors to properly structure on the front end of a transaction in order to mitigate the risk of a subsequent fraudulent transfer challenge.

This panel will use a case study approach in discussing the restructuring alternatives of a company with multiple debt tranches with mock negotiations between and among a distressed company, its 1st lien lenders, 2nd lien lenders and equity sponsor. The presentation will focus on valuation, the rights, remedies and restrictions of each of the lender groups and the equity sponsor both outside of a bankruptcy and following the commencement of a bankruptcy proceeding, and the impact of debt trading on such negotiations.

This session will take a look at different valuation techniques, including asset approaches, market approaches and income approaches. Concepts such as time value of money, discounted cash flows, determining the discount rate and cost of capital, and terminal value assumptions will be illustrated. Comparable companies and precedent transactions to establish the relative enterprise and equity value of firms will also be examined and discussed.

This session will cover basic accounting concepts of revenue and expense recognition and will discuss financial statement analysis, financial ratios, and the calculation and forecasting of firm free cash flow in the context of distressed companies.

Judges’ rapid-fire roundtables on today’s provocative issues, with judges changing tables every 20 minutes.