What Strategy Will Dominate Distressed Investing Going Forward?
9:00 - 9:50 AM 

This panel will examine the strategies that distressed investors are moving toward, including buying assets in distressed short sales, foreclosures or receivership sales, Section 363 bankruptcy sales or real-estate-owned sales.  Panelists will also discuss buying the equity of distressed companies, buying secured debt, debt-to-equity conversions, and refinancing debt.

MODERATOR:

• MARY D'SOUZA, Maxim Group

PANELISTS:

• JOHN BUCK, Versa Capital Management
• MARK CHESEN , SSG Capital Management
• JAME DONATH, Karsch Global Credit

How Will the CMBS Market Affect Distressed Commercial Real Estate?
9:55 - 10:45 AM

This panel will discuss the current state of the CMBS market. Are conduit lenders returning to the market? How are bond investors influencing securitizations?  Panelists will examine whether conduit lenders are moving into the secondary market and lending on distressed acquisitions, and the new CMBS loan underwriting guidelines.

MODERATOR: MARK GREEN, Jefferies

PANELISTS:

• THOMAS FINK, Trepp
• MICHAEL IANNACCONE, MDI Investments
• BOB KLINE, RW Kline

Bank Failures and Their Continuing Effect on the Market
11:05 - 11:55 AM

This session will explore the risks of more bank failures from toxic commercial real estate loans, and the opportunities available for purchasing these loans.  How will banks dispose of the mountain of defaulted loans on their books? And are community banks disposing of these loans at the same pace as regional and money center banks? Will the FDIC continue to be involved in bringing loans to market?

MODERATOR: BRIAN SMITH, Latham & Watkins

PANELISTS:

• STEVEN COHEN, Nautilus Capital
• BRUCE FERGUSON, Apex Fundamental Partners
• ARI J. HIRT, DebtX 

Circuit Courts Split: River Road Partners vs. Amalgamated Bank
12:00 - 12:50 PM

This session will explore the ramifications of the 7th Circuit Court of Appeals' decision in the River Road Partners vs. Amalgamated Bank case. What does it mean for the future of credit bidding? Will the Supreme Court settle the issue?

MODERATOR: SHARON LEVINE, Lowenstein Sandler

PANELISTS:

• DAVID NEFF, Perkins Coie
• KEN PASQUALE, Stroock & Stroock & Lavan
• MARK THOMAS, Proskauer

Legal Overview: The Latest Developments in Commercial Bankruptcy Law
1:50 - 2:40 PM

This panel will examine the latest developments in commercial bankruptcy law including Rule 2019, rulings on fraudulent conveyance, rulings on credit bidding, and on various inter-creditor issues.

MODERATOR: LARRY HALPERIN, Richards Kibbe & Orbe

PANELISTS:

• JUDGE ROBERT A. DRAIN, U.S. Bankruptcy Judge, Southern District of New York
• SUSAN FREEMAN, Lewis & Roca
• DAVID HARTHEIMER, Clearbid Capital
• MICHAEL MESSERSMITH, Kaye Scholer

The Most Attractive Sectors for Distressed Investors
2:45 - 3:35 PM

What sectors are providing the most attractive opportunities for distressed investors? The panelists will discuss opportunities in commercial real estate, common stock, convertible bonds, mezzanine loans, and more.

MODERATOR: LISA POULIN, CRG Partners

PANELISTS:

• NAVIN NAGRANI, Hilco Real Estate
• SETH SINGERMAN, Singerman Real Estate
• MARC WEIL, Avenue Capital

Examining the Leveraged Loan Market
3:40 - 4:30 PM

This panel will explore the current state of the leveraged loan market. How accessible is the leveraged loan market, who are the major players, and what does the future hold? 

MODERATOR:

• BRETT BARRAGATE, Jones Day

PANELISTS:

• HENRY BAER, Finn Dixon & Herling
• HOMYAR CHOKSI, LBC Credit
• MICHAEL MEZZACAPPA, Schulte Roth & Zabel
• ROOPESH SHAH, Goldman, Sachs & Co.

The Coming Wave of Municipal Government Restructurings
4:35 - 5:25 PM

This panel will explores the restructuring options for municipal governments.  How likely is it that governments will file Chapter 9, and what financing options are available for local governments?

MODERATOR: F. JOHN STARK, Oppenheimer & Co.

PANELISTS:

• JONATHAN HENES, Kirkland & Ellis
• MICHAEL IMBER, Grant Thornton 
• CHARLES MOORE, Conway MacKenzie

The Current State of Middle Market Lending
9:00 - 9:50 AM

This session will explore the current availability of financing for middle market companies, including leveraged loans, asset-based loans, cash flow loans, mezzanine financing and debtor-in-possession financing.

MODERATOR: TED KOENIG, Monroe Capital

PANELISTS:

• COLIN CROSS, Crystal Financial
• MICHAEL FIXLER, Variant Capital Advisors
• LARRY KLAFF, Gordon Brothers
• STEVE MOYER, PIMCO

The New Rules of Disclosure in Bankruptcy
9:55 - 10:45 AM

The U.S. Supreme Court's newly adopted amendments to Rule 2019 of the Federal Rules of Bankruptcy Procedure in Chapter 11 cases has satisfied some attorneys representing creditors that proprietary information will be protected from disclosure. This panel explores the disclosable interests defined by the rule.

MODERATOR: ROBIN PHELAN, Haynes & Boone

PANELISTS:

• ROBERT DEHNEY, Morris, Nichols, Arsht & Tunnell LLP
• CRAIG RASILE, DLA Piper
• ERIC WINSTON, Quinn Emanuel

The Comeback of the Dividend Recap
11:05 - 11:55 AM

This panel will explore the re-emergence of the dividend recap. Will the comeback of dividend recaps lead to more defaults and bankruptcies?  What are the risks involved?

MODERATOR: RANDY SCHWIMMER, Churchill Financial

PANELISTS:  

• STEVEN LEVINE, Brown Rudnick
• ANDERS MAXWELL, Peter J. Solomon Company
• ELIOT RELLES, Schulte Roth & Zabel

The Coming Wave of Debt Maturities in the Commercial Real Estate Market
12:00 - 12:50 PM

Will there be adequate capital to refinance the wave of maturities? This panel will examine whether banks, life insurance companies, CMBS lenders, private lenders or hedge funds will be the main players for refinancing. What does this wave of debt maturities mean for the future of commercial real estate lending?

MODERATOR: BRAD SALZER, Southeast Mortgage Investments

PANELISTS:

• RON D'VARI, New Oak Capital 
• JAY KELLEY, Focus Management Group
• CAROLYN PIANIN, The Carlton Group

The Emergence of Distressed Commercial Real Estate Funds
1:50 - 2:40 PM

Will the market finally see an increase in deal flow as a result of the emergence of distressed commercial real estate funds? Which funds will be the most attractive? This panel will explore whether funds will continue to pursue all-cash deals, who the new players are, and whether these funds will venture into the secondary market.

MODERATOR: RAEL NURICK, Sandton Capital 

PANELISTS:

• MITCHELL ADELSTEIN, Capstone Realty Group
• SPENCER GARFIELD, Hudson Realty Capital
• DAVID SCHWARZ, Colony Capital 

Life Insurance Settlements:  A New Way for Debtors & Creditors to Monetize a Formerly Illiquid Asset and an Alternative Asset Class for Investors Seeking High Returns
2:45 - 3:35 PM

In today's turbulent times, creditors and bankruptcy professionals are looking for new and creative ways to liquidate assets to maximize value. In recent years, many insolvency related professionals and Trustees have come to realize that life insurance policies are a valuable and saleable asset. A life settlement is the sale of an existing life insurance policy from the current owner to institutional investors such as commercial and investment banks, pension and hedge funds, and other investors seeking double-digit yields. This panel examines how the secondary market for life insurance is a potentially powerful cash generation tool for debtors, creditors and their advisors and a potentially lucrative investment for those willing to buy "out of the box" assets.  

MODERATOR: ROB STARK, Melville Capital

PANELISTS:

• MICHAEL EIDELMAN, Vedder Price
• KEN KLEIN, FairMarket Life Settlement Corp.