Media Teleconference to Examine the Future of Real Estate Industry Distress

Date:

Wednesday, December 10, 2008

Issue:

Distress in the real estate industry continues to be felt around the world. The liquidity that was once available for residential and commercial real estate projects and financing just a few months ago has evaporated, foreclosures continue to increase and the financial institutions that held the debt associated with the housing boom continue to buckle under the financial strain. A panel of experts specializing in real estate company bankruptcies will discuss the latest problems in this sector, as well as the outlook for the real estate industry.

Audio:

Click Here to play:

Speakers:

Rebecca Roof is a managing director at AlixPartners (New York).

Harold Bordwin is a managing director and co-group head of the real estate services team at KPMG Corporate Finance/Keen Consulting (New York).

Moderator:

Prof. Jack Williams of Georgia State University is ABI’s Resident Scholar and a director BDO Seidman LLP.

Background:

The U.S. real estate sector continues to weather the market correction that started with the subprime mortgage downturn in 2006. Government efforts this year, such as the $300 billion housing rescue package and the $200 billion takeover of housing finance firms Fannie Mae and Freddie Mac, have not pulled the housing sector out of its tailspin. Faced with increased foreclosures as adjustable-rate mortgages continue to reset, a greater supply of housing on the market, increased vacancy rates for commercial properties and tighter access to credit, the real estate sector faces significant challenges.

The teleconference will feature top experts who have worked with financially distressed real estate companies and lenders discussing the current situation of the real estate industry, as well as their views on future trends and prospects for improvement in the sector.

For additional questions or requests regarding the teleconference or to speak with one of ABI’s expert resources, please contact ABI Public Affairs Manager John Hartgen at 703-894-5935 or [email protected].

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ABI is the largest multi-disciplinary, nonpartisan organization dedicated to research and education on matters related to insolvency. ABI was founded in 1982 to provide Congress and the public with unbiased analysis of bankruptcy issues. The ABI membership includes more than 12,600 attorneys, accountants, bankers, judges, professors, lenders, turnaround specialists and other bankruptcy professionals providing a forum for the exchange of ideas and information. For additional information on ABI, visit ABI World at http://www.abiworld.org. For additional conference information, visit http://www.abiworld.org/events/newevents.html.