cfrp 2010

NEW YORK SEVENTH ANNUAL

COMPLEX FINANCIALRESTRUCTURING PROGRAM

Monday, September 20, 2010Fordham University School of Law

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SEVENTH ANNUALAMERICAN BANKRUPTCY INST ITUTECOMPLEX F INANCIA L RESTRUCTUR ING 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!

Monday, Sept. 207:00 -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 CASEThe 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


PROGRAM

10:15-11:45 a.m. TOPIC 2: DEBTOR IN POSSESSION FINANCING ISSUES Richard E. Mikels, Moderator Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC; Boston 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

11:45 a.m-12:30 p.m. TOPIC 3: RUNNING THE BUSINESS IN BANKRUPTCY Lorie R. Beers, Moderator Seabury Group LLC; New York 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.BurtonR.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


FACULTYCONFERENCE CO-CHAIRSLorie R. BeersSeabury Group LLC; New YorkHoward Brod BrownsteinBrownstein Corp; Conshohocken, Pa.

Kathryn Anne ColemanHughes Hubbard & Reed LLP; New YorkPeter S. KaufmanGordian Group, LLC; New York

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

FACULTYTracy Hope DavisOffice of the U.S. Trustee; New YorkIra L. HermanThompson & Knight LLP; New York Sheon KarolCRG Partners Group LLC; New YorkJonathan M. LandersMilberg LLP; New YorkPerry M. MandarinoPricewaterhouseCoopers LLP; New YorkRichard E. MikelsMintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC; Boston

Robin E. PhelanHaynes and Boone, LLP; DallasCraig V. RasileHunton & Williams LLP; Miami Keith J. ShapiroGreenberg Traurig, LLP; ChicagoJ. Scott VictorSSG Capital Advisors, LLC West Conshohocken, Pa.Joel M. WalkerDuane Morris LLP; Pittsburgh

AMERICAN BANKRUPTCY INST ITUTECOMPLEX FINANCIAL RESTRUCTURING PROGRAM

R E G I S T R AT I O NName ______________________________________________________Nickname __________________________________________________Firm/Company ______________________________________________Title _______________________________________________________Address ____________________________________________________ City _______________________________________________________State __________________Zip _________________________________Telephone ( ) ___________________________________________Fax ( ) ________________________________________________E-mail _____________________________________________________

CONFERENCERATES

ABI Member o $495 o $545 o $595 ABI Gov. / Academic Member o $195 o $245 o $295 New Member* o $745 o $795 o $845Gov. / Academic New Member* o $290 o $340 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 CREDITo CLE/CPE Credit State(s) ______________________________ (Circle One) Bar No. ___________________________________

ABI MEMBERSHIPRENEWAL Regular $275 $______Govt./Academic/Nonprofit $95 $______

CANCELLATIONPOLICYAll 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 o e o y o w Acct. No. _______________________________ Exp. Date _________

Signature __________________________________________________

Early Bird Regular Late (postmarked by 7/23/10) (7/24/10-8/20/10) (after 8/20/10)

CONFERENCE INFORMATION

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 6,000members attend programs annually. Founded in 1982,ABI isnonprofitandnonpartisanandislocatedjustoutsideWashington,D.C.

CONTINUING EDUCATION CREDITApproval for approximately 8 hours of CLE credit is pending in New York and other 50- minute 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:ABIcertifiesthatthisactivityhasbeenapprovedforMCLEcreditbythe 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 accountancyhavethefinalauthorityontheacceptanceofindividualcoursesforCPEcredit.Complaintsregarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Ave.North,Suite700,Nashville,TN,37219-2417,orwww.nasba.org.Formoreinformationregardingadministrative policies such as complaint and refund, please contact the American Bankruptcy Institute at(703)739-0800.ABIacknowledgesthatinsomeinstancestherewillbepersonswhoneedtoattendaneducational 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 andstudents.Formoreinformation,pleasecontacttheAmericanBankruptcyInstituteat(703)739-0800or send an e-mail to [email protected].

CONTACT ABICallABIat(703)739-0800,orvisitABIWorldatwww.abiworld.org/CFRP10.Faxcreditcardordersto(866)921-1027,orsendcompletedregistrationformandpaymentto:ABI,P.O.Box34709,Alexandria,VA22334-0709,Attn.CFRP10

register online: www.abiworld.org/CFRP10


INFORMATION

CONFERENCE INFORMATIONSEVENTH ANNUALAMERICAN BANKRUPTCY INST ITUTECOMPLEX F INANCIA L RESTRUCTUR ING PROGRAM

SPONSORS

Anthony H.N. SchnellingENDOWMENT FUND

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.

online at: endowment.abi.org

ENDOWMENT&RESEARCHTo donate to the fund, please check the appropriate box on the registration form or contact

P.O. Box 34709Alexandria, VA 22334-0709

Call: (703) 739-0800Fax: (866) 921-1027

CRG Partners Group LLCDuane Morris LLP

Gordian Group, LLCGreenberg Traurig, LLPHaynes and Boone, LLP

Hughes Hubbard & Reed LLPHunton & Williams LLP

Milberg LLPMintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC

PricewaterhouseCoopers LLPSeabury Group LLC

SSG Capital Advisors, LLCThompson & Knight LLP


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FRP10

Anthony H.N. SchnellingENDOWMENT FUND

cfrp 2010

Documents

case study

vandelay file

vandelay investme

annual lecture

various roles

senior executives of

day program

casethe cfrp faculty