Legal Updates for Investors in Distressed Situations
8:35 - 9:25 AM
This panel examines the legal and regulatory landscape for the distressed industry and reviews recent issues including ramifications of the recently passed financial reform bill, fraudulent conveyance and inter-creditor issues. Discussion includes case studies to exemplify how laws have been applied and pitfalls to avoid.
MODERATOR: BENJAMIN HOCH, Covington & Burling
PANELISTS: GREGORY CROSS, Venable; ROBIN PHELAN, Haynes Boone

Restructuring Your Portfolio: Various Perspectives and Case Studies
9:30 - 10:20 AM
The panelists will discuss their respective portfolio buy/sell decision processes as it relates to distressed debt, from both a buyer and seller perspective. The discussion will focus on how bank institutions, high yield funds and distressed hedge funds are regulated in pricing their loans and distressed debt. Particular attention will be paid to highly illiquid loans where there is no real secondary market.
MODERATOR: JOHN AHN, B. Riley & Co.
PANELISTS: MICHAEL BOGDAN, Atalaya Capital; SCOTT DIEHL, Wells Fargo; ANTHONY EDSON, Stone Tower Capital

Acquiring Corporate Assets out of Bankruptcy
10:50 - 11:40 AM
There are various strategies for acquiring assets out of bankruptcy. This panel describes the pros and cons of various methods, examines ways to research the market, and shares case studies of successful acquisitions.
MODERATOR: HENRY BAER, Finn Dixon & Herling
PANELISTS: BILL BRANDT, Development Specialists; ROOPESH SHAH, Goldman Sachs; KEN SIMON, Loughlin Meghji & Co.; MARK THOMAS, Proskauer Rose

The Effectiveness of Bank Recapitalizations and New FDIC Rules
11:45 - 12:35 PM
While banks are challenged to maintain capital requirements, there are banks that have effectively re-structured and recapitalized and are now meeting FDIC requirements and recovering from crisis. This panel examines the biggest players helping banks with recapitalizations, and the relative merits of the available tools and strategies.
MODERATOR: RON D'VARI, NewOak Capital LLC
PANELISTS: MICHAEL IANNACCONE, MDI Investments; BRIAN SMITH, Latham & Watkins

Rule 2019 of Federal Rules of Bankruptcy Procedure
1:45 - 2:05 PM
Bondholders and other participants in bankruptcy cases are struggling to comply with Bankruptcy Rule 2019, which requires the disclosure of certain information by any entity or committee representing more than one creditor or shareholder in the bankruptcy case, including the amounts of claims or interests, the dates of acquisition and the amounts paid. The Advisory Committee on Bankruptcy Rules recently proposed sweeping changes to Rule 2019. This presentation will address the proposed changes and the anticipated impact on participants in bankruptcy cases.
SPEAKER: MICHAEL ST. PATRICK BAXTER, Covington & Burling and American Bar Association Business Bankruptcy Committee

Turnaround Management: Strategies that Make Distressed Investing Yield Results
2:10 - 3:00 PM
Strategies to acquire distressed assets must include locating core value on which to rebuild, fixing the systemic problems, and selling at increased value. This panel discusses key strategies to turn a company around and realize returns on invested capital. Discussion will address the question does existing management stay or go, where to locate financing to support transactions, key issues at portfolio company level, strategies to protect working capital investments to avoid past sins, dealing with legacy costs, and when is it time to exit.
MODERATOR: JOHN COLLARD, Strategic Management Partners
PANELISTS: RANDALL EISENBERG, FTI Consulting; HOLLY FELDER ETLIN, Alix Partners; LISA POULIN, CRG Partners

Recent Trends in Junior Lien and Mezzanine Financing
3:05 - 3:55 PM
This panel discusses the strategies, structures and recent investment activity for junior lien and mezzanine financing including the pros and cons of these investments, who the player are and what will be the winning strategies.
MODERATOR: MARY D'SOUZA, Maxim Group
PANELISTS: PETER ANTOSZYK, Proskauer Rose; JOHN BRIGNOLA, LBC Credit Partners; THEODORE KOENIG, Monroe Capital; DAVE PETRUCCO, Kayne Capital

Hedge Funds and Distressed Debt Plays
4:00 - 4:50 PM
Hedge funds continually adjust their strategies in response to changes in the economic climate. This panel examines the successes and failures of recent hedge fund distressed debt plays and discusses possible future strategies based upon developing conditions.
MODERATOR: COLIN MARSHALL, Cantor Fitzgerald
PANELISTS: JOHN BUCK; Versa Capital Management; JAME DONATH, Karsch Capital Management; MARC WEIL, Avenue Capital

Special Servicers: Where Do They Fit in the Distressed CRE Puzzle?
8:35 - 9:25 AM
Special Servicers are a key component to the distressed market. But between rising loan volumes and the differing demands of senior and junior bond holders, investors are unsure what to expect. The panelists for this session explain what special servicers do and provide examples of their role.
MODERATOR: PETER MILLER, Akin Gump Strauss Hauer & Feld
PANELISTS: MARK FITZGERALD, PPR Global; DAVE IANNARONE, CW Capital; KEVIN SEMON, Midland Loan Services

Distressed Hotel Acquisitions: Where are the Deals?
9:30 - 10:20 AM
There is no shortage of distressed hotel properties across the country. But where are the best deals? These experts review the market for distressed hotels including what makes the market attractive to investors and whether the need for operational expertise is an impediment to investment.
MODERATOR: KEVIN MALLORY, CB Richard Ellis
PANELISTS: MITCHELL ADELSTEIN, Capstone Realty Group; JEFFREY DAVIS, Jones Lang LaSalle Hotels; SCOTT SCHWARTZ, Marathon Asset Management; SETH SINGERMAN, Singerman Real Estate

FDIC Asset Dispositions and Their Influence on the Market
10:50 - 11:40 AM
The FDIC is arguably the largest holder of distressed commercial real estate in the U.S. Their asset dispositions have the ability to move assets to the market in an orderly fashion as long as investors are convinced there is value. This panel discusses the myths and realities of government-sponsored sales.
MODERATOR: STEPHEN VALENTINO, Deutsche Bank
PANELISTS: STEVEN COHEN, Nautilus Capital; DIANE JACKSON, FDIC; TIM KRUSE, FDIC; STEVEN NESMITH, Ocwen Financial

Is CMBS Really on the Way Back?
11:45 - 12:35 PM
With commercial real estate liquidity close to bone dry, investors can?t wait for the return of CMBS. How close are we to that happening and how will it look? This mix of executives, originators and analysts shares their insight on the future of conduit lending.
MODERATOR: ALAN TODD, JP Morgan Securities
PANELISTS: MARK GREEN, Jeffries; SCOTT LIEBMAN, UBS; ANDREW PAROWER, Marketfield Asset Management

The Role of Private Equity in Distressed Situations
1:45 - 2:05 PM
M&A gladiators have recently made bankruptcy court a new battle arena. The purchase of companies without proper financing or deeply hurt by the recession will continue to present opportunities to buyers. Private equity can play a pivotal role in the resurrection of industry and the recapitalization of small and middle market companies.
SPEAKER: LYNN TILTON, Patriarch Partners

Distress in the Middle Market: Liquidity, Logistics and Special Considerations
2:10 - 3:00 PM
Workouts and restructurings in the mid market often require the same time and attention as their large-cap counterparts and generally challenge the various stakeholders with a big mission and smaller budgets. This panel will discuss some of those issues in the context of the grave to cradle progression.
MODERATOR: MICHAEL NITKA, Cantor Fitzgerald
PANELISTS: MICHAEL BEDORE, Ares Management, ROBERT DEL GENIO, Conway, Del Genio, Gries; PAUL GORDON, SAC Capital Advisors; MICHAEL MESSERSMITH, Kaye Scholer