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Wharton Restructuring and Distressed Investing Conference 2015

Signs of Distress? Looking Past the Current Market Cycle

The Pierre Hotel, New York City - Friday, February 27, 2015

Panels

Distressed Private Equity

Panel description coming soon.

10:30 AM – 11:30 AM
Cotillion


Case Study

Panel description coming soon.

10:30 AM – 11:30 AM
Wedgwood


Distressed Acquisitions in Chapter 11

The Legal Restructuring Panel will be addressing Distressed Acquisitions in Chapter 11. The focus will include discussion of the process generally, as well as some of the many potential pitfalls for buyers and sellers that can arise throughout the course of such transactions. Specifically, the panel will touch on business and legal aspects of credit bidding in the multi-lender context, dealing with “goodwill” and other intangibles in valuing the debtor, collusion versus collaboration between bidders and some best practices for credit bidding.

1:30 PM – 2:30 PM
Cotillion

Panelists:

Lawrence V. Gelber - Partner, Schulte Roth & Zabel LLP (Moderator)
Lawrence V. Gelber
Lawrence V. Gelber
Partner
Schulte Roth & Zabel LLP
(Moderator)

Lawrence V. Gelber is a partner at Schulte Roth & Zabel, where he focuses on the areas of distressed mergers and acquisitions, debtor-in-possession financing, corporate restructuring, creditors’ rights and prime brokerage insolvency/counterparty risk. Larry’s extensive experience in Chapter 11 reorganization cases includes representing debtors, secured and unsecured creditors, lenders, investors and acquirers. His debtor representations have included Quigley Company Inc., NTL Inc., Safety-Kleen Corp., Fansteel Inc. and CAI Wireless Systems Inc. Among his lender and creditor representations are Ableco Finance LLC, Cerberus Business Finance LLC and Wells Fargo Capital Finance. Investor and acquirer representations include Mount Kellett Capital Management LP, Petra Capital Management LP, Cerberus Capital Management LP and Prentice Capital Management LP.

In recognition of his professional excellence and his contributions to the fields of restructuring and insolvency, Larry was inducted as a fellow in the 25th Class of the American Bankruptcy College. He has also been recognized by The Legal 500 United States as a leader in his field. He is an active member of the American Bankruptcy Institute, the ABA’s Section of Business Law, the New York City Bar Association and the Turnaround Management Association. Larry regularly contributes to The Bankruptcy Strategist, Bankruptcy Law360 and Norton Bankruptcy Law Adviser and has spoken at conferences sponsored by the Practising Law Institute, American Bankruptcy Institute, the William J. O'Neill Great Lakes Regional Bankruptcy Institute and other organizations. He most recently co-authored “False Claims Act Debts Held Non-Dischargeable in Bankruptcy,” in the New York Law Journal, and he moderated “Understanding Pension Plan Liabilities” at the SRZ 3rd Annual Distressed Investing Conference. Larry obtained his J.D., cum laude, from New York University School of Law and his B.A., magna cum laude, from Tufts University.

The Honorable Judge Shelley C. Chapman - United States Bankruptcy Judge, United States Bankruptcy Court for the Southern District of New York
The Honorable Judge Shelley C. Chapman
The Honorable Judge Shelley C. Chapman
United States Bankruptcy Judge
United States Bankruptcy Court for the Southern District of New York

Shelley C. Chapman was sworn in as a United States Bankruptcy Judge for the Southern District of New York on March 5, 2010. At the time of her appointment, she was a partner in the law firm of Willkie Farr & Gallagher LLP in the Business Reorganization and Restructuring Department, where her practice included the representation of debtors, creditors, and other parties in interest in major chapter 11 cases and out-of-court restructurings.

Judge Chapman received a B.A. with distinction in all subjects from Cornell University in 1978 and a J.D. from Harvard Law School, from which she graduated cum laude in 1981. She served as an editor of the Harvard Civil Rights-Civil Liberties Law Review.

Prior to joining Willkie Farr & Gallagher LLP in 2001, Judge Chapman was a partner at Sidley & Austin and served as an Adjunct Professor at Brooklyn Law School in 1985-86. From 2001 through 2007, she served on the Board of Directors of inMotion, a non-profit organization that provides pro bono legal services to indigent women and children in New York City, primarily in the areas of matrimonial, family, and immigration law, serving as Board Chair from 2004 to 2007.

Prior to her appointment, she served on the Executive Committee of the UJA-Federation of New York’s Bankruptcy and Reorganization Group and on the Advisory Board of the ABI New York City Bankruptcy Conference, and has been active in Cornell University and Harvard Law School alumni affairs. She is a Fellow of the American College of Bankruptcy. She is a member of ABI, serves on an advisory committee of the ABI Commission to Study Chapter 11 Reform, and serves as judicial co-chair of the ABI New York City Bankruptcy Conference. Judge Chapman also is a member of the National Conference of Bankruptcy Judges and serves on the NCBJ Education Committee. She also serves on the Federal Judicial Center’s Bankruptcy Judge Education Advisory Committee and acts as a mentor judge for the Center’s Orientation Program for Newly Appointed Bankruptcy Judges. She has recently joined the Editorial Board of Collier on Bankruptcy as a Contributing Author.

John Greene - Managing Principal, Halcyon Asset Management
John Greene
John Greene
Managing Principal
Halcyon Asset Management

Mr. Greene joined Halcyon in March 2002. During his tenure at Halcyon, Mr. Greene has focused primarily on distressed asset investing. Prior to joining Halcyon, Mr. Greene was a distressed securities analyst for J.P. Morgan Chase, where he began his career in 1999, and where he published research on distressed and high yield securities, made proprietary trading recommendations, and worked with J.P. Morgan Chase’s London-based European High Yield Research team. Mr. Greene received his B.A. from Franklin & Marshall College in 1999.

Christopher Grubb - Managing Director and Chief Financial Officer, Greenhill
Christopher Grubb
Christopher Grubb
Managing Director and Chief Financial Officer
Greenhill

Mr. Grubb joined Greenhill in 2006 and has served as our Chief Financial Officer since 2012. Prior to joining Greenhill, he was a member of the investment banking group at UBS. Mr. Grubb advises clients on M&A and Restructuring transactions in addition to his administrative responsibilities at the Firm. Mr. Grubb received an M.B.A. from Columbia Business School and a B.S. in Operations Research and Industrial Engineering from Cornell University.

David M. Hillman - Partner, Schulte Roth & Zabel LLP
David M. Hillman
David M. Hillman
Partner
Schulte Roth & Zabel LLP

David M. Hillman is a partner at Schulte Roth & Zabel, where he practices in the areas of corporate restructuring and creditors’ rights litigation, with an emphasis on the representation of secured and unsecured creditors and other parties in Chapter 11 bankruptcy cases. His clients operate in industries including retail, manufacturing, radio broadcasting, automotive, pharmaceutical, telecom, energy and aviation, among others. He recently represented first lien lenders in a priming DIP financing dispute involving valuation litigation and represented an ad hoc committee of second lien noteholders in acquiring a retail business in a Section 363 sale. David is currently representing first lien noteholders and DIP lenders in the Chapter 11 case of Allied Systems Holdings in connection with a contested 363 sale and intra-lender litigation. He has significant experience litigating issues involving solvency, valuation, plan confirmation, financing and cash collateral disputes, contested 363 sales, fraudulent transfers, preferences, equitable subordination, recharacterization, substantive consolidation, breach of fiduciary duty and similar disputes.

David is listed as a “leading individual” in Bankruptcy/Restructuring by Chambers USA, where he was praised by interviewees as “very effective” and recognized as an “excellent litigator and strategist.” He has also been recognized as a leader in his field by New York Super Lawyers. He is member of the American Bankruptcy Institute, a VALCON advisory board member and a steering committee member of the New York City Bankruptcy Assistance Project. David speaks frequently on bankruptcy-related topics, recently moderating “Recent Court Decisions Affecting Distressed Investors” at the SRZ 3rd Annual Distressed Investing Conference and participating in “Coal Mining Industry Financial Health Overview,” an AIRA webinar. His recent publications include co-authoring “Hot Topics in Coal Company Bankruptcies” and “Health Care Business Restructuring for Secured Lenders” in Bloomberg BNA – Bankruptcy Law Reporter, and “Proposals to Reform Ch. 11 Target Secured Creditors” in Law360. His articles have also appeared in The Bankruptcy Strategist, Bankruptcy Court Decisions and NYU Journal of Law and Business. David received his J.D., cum laude, from Albany Law School, where he was associate editor of the Albany Law Review, and his B.A., cum laude, from New York State University at Oneonta.

David A. Hollander - Managing Partner, Tennenbaum Capital Partners, LLC
David A. Hollander
David A. Hollander
Managing Partner
Tennenbaum Capital Partners, LLC

David Hollander is a Managing Partner of Tennenbaum Capital Partners, LLC. TCP is a leading alternative investment manager founded in 1999, investing in both special situations and performing credit. TCP currently manages approximately $5.3 billion of committed capital across its open investment vehicles, which include private funds, registered funds and a publicly-traded business development company. Mr. Hollander focuses on TCP’s private placements in special situations and managing investments in companies undergoing restructurings and bankruptcies.

Before joining TCP in 2002, Mr. Hollander was an attorney for sixteen years at the law firm of O'Melveny & Myers. While at O'Melveny, Mr. Hollander specialized in leveraged finance, insolvency, and mergers and acquisitions, and represented debtors and creditors in numerous multi-billion dollar transactions. Mr. Hollander has also represented boards of directors and has served on various creditor committees.

Mr. Hollander holds a J.D. from Stanford Law School and a B.S. (highest honors) in Economics from the Wharton School of Business at the University of Pennsylvania.


Financial Restructuring

The Financial Restructuring Panel will address the oil and gas industry in the wake of the recent sell off in oil prices. The panel will discuss the industry broadly, including the outlook for commodity prices and production volumes over the next year. In the context of the overall market, the panel will identify potential restructuring candidates for 2015 and 2016 and the most attractive and lowest cost production basins. Finally, the panelists will discuss several issues specific to oil and gas restructurings, including reserves-based lending determinations, utilization of lien baskets, hedging agreements, and plugging and abandonment liabilities.

1:30 PM – 2:30 PM
Wedgwood

Panelists:

Peter Laurinaitis - Senior Managing Director, Restructuring and Reorganization Group, Blackstone (Moderator)
Peter Laurinaitis
Peter Laurinaitis
Senior Managing Director, Restructuring and Reorganization Group
Blackstone
(Moderator)

Peter Laurinaitis is a Senior Managing Director in the Restructuring & Reorganization Group.

Since joining Blackstone in 2002, Mr. Laurinaitis has been involved in advisory work across a broad range of industries, with a focus on energy over the last several years. Select matters include Endeavour International, SemGroup, Flying J, Dynegy (creditors), BPZ Energy (creditors), Quicksilver (creditors), NewPage (creditors), Scopac/Palco, General Motors, Barneys New York, State of Kansas, Net Serviços De Comunicação, Capmark (creditors), HSH Nordbank, Horsehead, Aquila, Bally, Brown Jordan, Harry & David (creditors), and Gatehouse (creditors).

Before joining Blackstone, Mr. Laurinaitis was a Manager at Arthur Andersen LLP in its Corporate Restructuring group.

Mr. Laurinaitis received a BS in Accounting from the University of Central Florida, an MSA in Accounting from the University of Central Florida, and an MBA in Finance from the Wharton School of the University of Pennsylvania. Mr. Laurinaitis is a Certified Public Accountant (CPA, inactive), Certified Insolvency and Restructuring Advisor (CIRA) and a Certified Turnaround Professional (CTP).

Ted Goldthorpe - President, Apollo Investment Corporation / Senior Portfolio Manager, U.S. Opportunistic Credit
Ted Goldthorpe
Ted Goldthorpe
President, Apollo Investment Corporation
Senior Portfolio Manager, U.S. Opportunistic Credit

Profile coming soon.

Jon Lewinsohn - Senior Managing Director, Centerbridge Partners, LP
Jon Lewinsohn
Jon Lewinsohn
Senior Managing Director
Centerbridge Partners, LP

Mr. Lewinsohn is a Senior Managing Director at Centerbridge Partners, LP. The firm manages approximately $25 billion of assets with a focus on credit, special situations, and private equity. Prior to joining Centerbridge, Mr. Lewinsohn was Head of Research and a permanent member of the Investment Committee at Anchorage Capital Group. He was previously a law clerk to Judge Richard A. Posner of the US Court of Appeals and began his career at Morgan Stanley in the Mergers & Acquisitions Group. Mr. Lewinsohn received his JD from Yale Law School, where he was an editor of the Yale Law Journal, and his BA, summa cum laude, from Cornell University's College of Arts and Sciences as a Merrill Presidential Scholar. He is a Term Member of the Council on Foreign Relations and a member of Economic Club of New York.

Martin Sosland - Partner, Weil, Gotshal & Manges LLP
Martin Sosland
Martin Sosland
Partner
Weil, Gotshal & Manges LLP

Profile coming soon.


Distressed Hedge Fund

Panel description coming soon.

2:45 PM – 3:45 PM
Cotillion


Operational Restructuring

Panel description coming soon.

2:45 PM – 3:45 PM
Wedgwood

Platinum Sponsors

Centerview Partners Kirkland & Ellis LLP


Gold Sponsors

AlixPartners Blackstone
Miller Buckfire Schulte Roth & Zabel LLP

Silver Sponsors

Greenhill & Co. Ropes & Gray
Skadden

Bronze Sponsors

Kekst and Company Lazard
Versa


Media Sponsors

AIRA Bloomberg Brief The Deal Debtwire Dow Jones Mergermarket Reorg Research TMA Xtract Research