Debtwire Investors Summit

May 13, 2015

The Metropolitan Club

One East 60th Street
New York, NY 10022



Debtwire Investors Summit

May 13, 2015

The Metropolitan Club
One East 60th Street
New York, NY 10022

At this full day forum, industry experts will discuss bankruptcy and restructuring trends as well as distressed debt investment strategies.

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8:30 Registration and coffee

8:55 Welcome

9:00 Keynote address

    • Honorable Allan L. Gropper, Former United States Bankruptcy Judge for the Southern District of New York and Adjunct Professor of Law, Fordham University

9:30 Distressed investment strategies

Distressed investors have had much to analyze over the past year, from bankruptcy practice reform to several high-profile courtroom rulings – all at a time when high-yield bond and leveraged loan markets are cooling off. With this backdrop, our panel of expert advisors and investors will discuss:
  • What are the most effective strategies to source opportunities?
  • How has the bull run on high-yield impacted capital structures?
  • Rescue capital…when does it make sense and when does it worsen the pain?
  • Is the rights offering still the best weapon for junior creditors?
      • Mahmoud Atalla, Managing Director – Credit Situations Group, HSBC
      • Jack Butler, Executive Vice President, Hilco Global
      • James Gereghty, Managing Director, Siguler Guff
      • Michael Lipsky, Partner and Portfolio Manager, MatlinPatterson Global Advisers LLC
      • Keith Wofford, Partner, Ropes & Gray LLP
      • Andrew Ragsly, Managing Editor - North America, Debtwire (moderator)

10:30 Coffee break

10:50 Now and Before: A wide-ranging discussion covering the changes in the distressed investment market over the last couple of years with a focus on valuation and volatility as evidenced by recent cases such as LightSquared and others.

    • Brent S. Buckley, Managing Director, Benefit Street Partners
    • Emanuel Grillo, Partner, Baker Botts LLP

11:20 Primary market trends

Primary market activity has seen a slight cooling in recent times after a record-setting previous few years. With this in mind, topics for discussion will include:
  • What are the ramifications of a primary market cool down after record activity?
  • The forecasted expectations for liquidity in the primary market.
  • What types of transaction and deal structures can be expected to drive primary market activity?
      • William J. Hughes, Managing Director, Citigroup Global Markets Inc.
      • Joseph A. Moroney, Head of US Performing Credit, Apollo Management LP
      • John G. Popp, Managing Director, Global Head and CIO - The Credit Investments Group, Credit Suisse Asset Management, LLC
      • Justin M. Smith, Managing Director, Xtract Research LLC
      • Martin Toulouse, Partner, Baker Botts LLP
      • Kate Marino, Deputy Editor - North America, Debtwire (moderator)

12:15 Lunch

1:30 Kaye Scholer Presentation: North American Distressed Debt Outlook 2015 Update

    • Benjamin Mintz, Partner, Kaye Scholer LLP
    • Stephen Rutenberg, Partner, Kaye Scholer LLP

2:00 Focus on distressed retail credits

Retail is facing several key challenges, from the rise of online shopping to turbulence in some non-core markets. What does this mean for investors? The panel will look at several questions facing retail, including:
  • How is the market adapting to the rising popularity of E-commerce?
  • What are the most effective strategic alternatives levered retailers should explore to adapt and survive?
  • Best practices for assessing the characteristics of a retail company worth saving and one better off in liquidation.
      • Craig M. Boucher, Director, Deloitte CRG, a service line within Deloitte Transaction and Business Analytics, LLP
      • Andy Graiser, Founder and Co-President, A&G Realty Partners
      • Durc A. Savini, Managing Director, Peter J. Solomon Company
      • Mark Weinsten, Senior Managing Director, FTI Consulting
      • Reshmi Basu, Assistant Editor of Restructuring - North America, Debtwire (moderator)

2:45 Coffee break

3:15 Key legal issues affecting distressed debt

Bankruptcy attorneys and investors are continually having to operate in a distressed environment ripe with new precedents and developments. Among these, the panel will discuss:
  • What will the impact of key court venue battles, such as the Caesars and Patriot Coal cases, have on workout processes going forward?
  • What precedents can be expected as the Caesars, Radioshack and TXU cases come to a resolution?
  • Will the fallout from the ruling to uphold the lien on GM’s term loan impact the broader market?
  • The make-whole debate and where it currently stands.
  • Assessing the ABI Chapter 11 reform recommendations and what they mean for the market.
      • Bruce Bennett, Partner, Jones Day
      • Honorable Allan L. Gropper, Former United States Bankruptcy Judge for the Southern District of New York and Adjunct Professor of Law, Fordham University
      • Ross Martin, Partner, Ropes & Gray LLP
      • Jack M. Tracy II, Senior Legal Analyst - North America, Debtwire (moderator)

4:00 Opportunities in the distressed energy sector

Oil price volatility alongside geopolitical friction has rekindled distressed investment opportunities in the energy sector - but investors should consider all of the factors in play before diving in. Discussion topics include:
  • Best practices for separating the good assets from the bad assets?
  • Excess sector liquidity; a blessing or a curse?
  • An analysis of companies’ hedging strategies and cash flow management.
  • Exploring how covenant trends in the industry can be exploited.
      • Jason Bennett, Partner, Baker Botts LLP
      • Adam S. Cohen, Managing Partner, Caspian Capital Partners
      • Patrick Fleury, Managing Director, GSO Capital Partners
      • Jonathan P. Gill, Partner, Ropes & Gray LLP
      • Madalina Iacob, Senior Distressed Debt Reporter - North America, Debtwire (moderator)

5:00 Post-event cocktail reception and networking

6:00 Event concludes

Take advantage of this networking opportunity.