Conference Day Two: Wednesday, September 23, 2009

8:45 Deal Structuring: Legal & Tax Issues In Distressed Debt Investing

• Examining the legal aspects of workouts, restructurings, defaults & bankruptcy
• Mark to market rules and other accounting issues: Impact on future investing
• Tax strategies
• Intercreditor agreement update & avoiding intercreditor litigation

Moderator:

Dennis Yeskey
Managing Director
ALIXPARTNERS LLP

Panelists:

Thomas Salerno Partner & Co-Chair International Insolvency Practice, SQUIRE SANDERS & DEMPSEY LLP

Elizabeth McGinley Partner BRACEWELL & GIULIANI LLP

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9:45 Institutional Investors’ Roundtable

Pension plan sponsors, sovereign wealth funds, endowments & foundations, HNWs and family offices: Who is investing in distressed debt? What are the returns? Are you increasing allocations to this market?

Moderator:

Mark O'Hare
Managing Director
PREQIN LTD.

Panelists:

Eric Edidin Managing Partner ARCHER CAPITAL MANAGEMENT

Sheryl Schwartz Managing Director, Alternative Investments TIAA-CREF

Joseph J. Haslip Assistant Comptroller for Pensions NEW YORK CITY COMPTROLLER/NYCERS

11:15 Acquiring Controlling Stakes In Distressed Companies

• Turnaround strategies for the whole business, not just the debt
• Managing the ‘control’ part: Dealing with stakeholders, appointing managers, defining new strategy
• Acquiring a company through a 363 transaction

Moderator:

William I. Kohn
Attorney at Law
BENESCH, FRIEDLANDER, COPLAN & ARONOFF LLP

Panelists:

Ken McMillen Managing Director COBE CAPITAL LLC

Joe Farricielli Senior Vice President FIDELITY NATIONAL FINANCIAL

Ross Gatlin Chief Executive Officer & Managing Partner PROPHET EQUITY

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12:15 Lessons From The Chrysler And General Motors Chapter 11 Cases

• Section 363 Sale of “good” assets -- legal or just expeditious?
• Have the Courts re-written the priority scheme of the Bankruptcy Code?
• The need for speed -- is it real or imagined?
• Role of the US Government
• Unintended consequences
• Who is next?

Presenter:

Stephen Lerner
Partner and Chair of the Bankruptcy and Restructuring Group
SQUIRE, SANDERS & DEMPSEY LLP

2:15 Finance Providers’ Roundtable

• Alternative financing options: New innovative strategies
• Who are the finance providers now?
• Is there any traditional financing available?
• Lender liability/re-characterization/equitable subordination: Lots of smoke, any fires?
• Liquidity without CLO's: Who will fill the gap? The next wave
• Mezzanine financing: What are Mezz lenders doing when they don't have the capital to "take out" the senior debt in a borrower maturity default?
• Reconsidering the intercreditor agreement: Lessons from the trenches

Moderator:

Stephen Boyko
Partner
PROSKAUER ROSE LLP

Panelists:

Jay Rollins Principal JCR CAPITAL

Joel Holsinger Managing Director FORTRESS INVESTMENT GROUP LLC

Daniel O. Mee Executive Director TREMONT REALTY CAPITAL, LLC

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3:15 IQPC’s 5th Global Forum On Investing In Distressed Debt Main Conference Concludes

3:30 - 5:30 Distressed Assets And Joint Venture Equity In The New Era Joint Venture Equity Overview

• Sponsor equity
• Joint venture equity
• Equity investments analysis: Deep dive into IRR’s, waterfalls, and profit multiples
• Comparing mezzanine financing and equity financing
• Opportunistic funds vs. standalone joint venture transactions

Distressed Assets 101

• Distressed assets overview
• Bankruptcy issues: The basics that you must know
• Loan defaults: What are the options?
• Note sales: Understanding the process and the opportunities
• Foreclosures: Things you must know
• REO: How banks view it and how to profit from it
• Negotiating workouts with banks

Your Workshop Leader:

Jay Rollins
Principal
JCR CAPITAL