AIRA's 21st Annual Advanced Restructuring & Plan of Reorganization Conference

Refreshment Break

Sponsored by:

Introduction / Opening Remarks

• Sheryl P. Giugliano, Ruskin Moscou Faltischek, P.C.
• Boris Steffen, CDBV, Province

Pension Issues in Restructuring and Bankruptcy

Pension plans present unique challenges in restructuring. The panel will discuss single and multiemployer plans and working with the Pension Benefit Guaranty Corporation. Issues include minimum funding, plan termination, withdrawal, claims of a plan and/or PBGC, treatment of claims in bankruptcy, liability of controlled group members, and fiduciary duties related to the termination of a pension plan. The panel will also discuss the legal and financial tests for distress and involuntary pension plan terminations. Our panelists are experts in legal or financial analysis and include current and former PBGC attorneys who have a wealth of practical and technical knowledge to share.

Moderator:

• Israel Goldowitz, Partner, The Wagner Law Group PLLC (Washington, D.C.)

Panelists:

• Victoria L. Creason, Senior Managing Director, Teneo Financial Advisory (New York, NY)
• Joseph R. House, , Principle, PCA Partners LLC (Washington, D.C.)
• Joel Ruderman, Assistant General Counsel, Pension Benefit Guaranty Corporation (Washington, DC)

The Use (and Misuse) of Market Evidence to Measure Fair Value and Solvency in the Distressed Market

The objectives of this session are for the participants to: Understand the structure of the market for distressed securities; Know whether the prices of publicly traded debt and equity securities are based on relevant and reliable information; and, be able to apply market evidence reliably consistent with the fair value standard.

Moderator:

• Robert J. Stark, Partner, Brown Rudnick LLP (New York, NY)

Panelists:

• Andrew Kramer, Managing Director, UBS Investment Bank (New York, NY)
• Glen E. Siegel, Partner, Morgan, Lewis & Bockius LLP (New York, NY)
• Boris J. Steffen, CIRA, CDBV, Managing Director, Province (Baltimore, MD)

Stretch Break

Digital Assets and Investors in Distress

This panel intends to provide a general overview of cryptocurrency and digital assets, including how and by which agencies they are presently regulated. The panel will then discuss the question of ownership of cryptocurrencies and digital assets and its implications in various settings, including a chapter 11 bankruptcy filed by a cryptocurrency exchange, lending platform, or crypto-focused investment fund, and a bank insolvency proceeding. The panel will also discuss issues related to cryptocurrency and digital asset-related frauds, including a general overview of a Ponzi scheme, potential red flags for investors, and the contours of a good-faith defense. The goal of this panel is to engage with important questions facing investors and distressed entities in distressed situations involving cryptocurrencies and digital assets.

Moderator:

• Shane Reil, Associate, Young Conaway Stargatt & Taylor, LLP (Wilmington, DE)

Panelists:

• Kathy Bazoian Phelps, Raines Feldman (Los Angeles, CA)
• Joseph Cioffi, Davis+Gilbert LLP (New York, NY)
• Stephen O’Malley, Sr., Managing Director, J.S. Held LLC (New York, NY)
• David L. Portilla, Cravath, Swaine & Moore LLP (New York, NY)

Lunch

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Disruption in Commercial Real Estate - Debt & Equity; Navigating Restructuring and Leasing with Lenders

Over the last 10 years, the commercial real estate financing market has exploded with financing sources and decision makers, many of which never step foot in a courtroom or at the negotiating table. What are the best ways to navigate the maze of lenders, servicing agreements and decision makers when restructuring a loan or a lease? How do you drive value, create leverage and structure modifications that are accretive to all stakeholders – is litigation the solution? With rising interest rates, will more equity be invested by Sponsors or will there be disruption creating investment opportunities in commercial real estate at critical stages such as tenant lease negotiations, refinancing/maturity dates or partnership recapitalizations? With discounted payoffs (DPOs) and non-performing loan (NPL) sales back in “vogue”, how do you get plugged into and underwrite these opportunities?

Moderator:

• Debra Morgan, CohnReznick LLP (Dallas, TX)

Panelists:

• Harold Bordwin, Keen-Summit Capital Partners, LLC (New York, NY)
• Jason J. DeJonker, Partner, Bryan Cave Leighton Paisner LLP (Chicago, IL)
• Nate Florio, Deloitte (Jersey City, NJ)
• Hon. Vincent F. Papalia, U.S. Bankruptcy Court, D. N.J.

Texas Two-Step, Hoosier Hop or Fox Trot?

This panel will provide a general overview of the “Texas Two-Step” strategy recently employed by a number of companies facing widespread mass tort and other liabilities, as well as recent case law developments. The goal of this panel is to highlight the legal and financial issues this strategy raises.

Moderators:

• Sheryl P. Giugliano, Ruskin Moscou Faltischek P.C. (New York, NY)

Panelists:

• Melanie Cyganowski, Otterbourg (New York, NY)
• Matthew Diaz, Senior Managing Director, FTI Consulting, Inc. (New York, NY)
• Leonard Parkins, Perkins Lee Rubio (New York, NY)
• Hon. Alan S. Trust, U.S. Bankruptcy Court, E.D.N.Y. (Central Islip, NY)

Refreshment Break

Sponsored by:

2022 - The Year in Review from the Perspectives of Judges and Attorneys (90)

A hallmark session of the conference, the objective of this presentation is to review from the perspective of members of the court the significant decisions of the past year, with emphasis on cases from the 2nd and 3rd Circuits.

Moderators:

• Lawrence J. Kotler, Duane Morris LLP (Philadelphia/New York/Delaware)
• Heidi J. Sorvino, White & Williams (New York, NY)

Panelists:

• Hon. Lisa Beckerman, U.S. Bankruptcy Court, S.D.N.Y. (New York, NY)
• Hon. Rosemary Gambardella, U.S. Bankruptcy Court, D. N.J. (Newark, NJ)
• Hon. Craig T. Goldblatt, U.S. Bankruptcy Court, D. Del. (Wilmington, DE)

Sponsored by:

Reception – 2022 Judicial Service Award Presentation & Meet and Greet with new Judges

Co-Hosted by:

Honoree: Hon. Alan S. Trust, Chief Judge, U.S. Bankruptcy Court, E.D.N.Y. (Central Islip, NY)

Sponsored by: