Wednesday, February 26
9:30 a.m.-3:45 p.m.
Complex Financial Restructuring Program at VALCON*
*Add-on at registration
2:00 p.m.
VALCON 2020 Registration Opens
3:30-3:40 p.m.
VALCON 2020 Welcoming Remarks
3:40-4:00 p.m.
VALCON 2020 Case Study Cram Session
4:00-5:30 p.m. (1.50 hrs.)
Case Study in Conjunction with the 2020 Complex Financial Restructuring Program: The Challenges in Valuing and Restructuring Distressed Continuing Care Retirement Facilities (CCRCs)
This panel will use a case study approach and mock negotiations to work through restructuring options for a financially distressed continuing care retirement facility (CCRC). The case focuses on issues related to valuation, regulatory constraints, refund obligations, and the legal rights and remedies of the company and its creditors.
Michael Friedman, Moderator
Chapman and Cutler LLP; New York
Larry G. Halperin
Chapman and Cutler LLP; New York
Prof. C. Randel Lewis
University of Denver Daniels College of Business; Denver
Todd M. Patnode
Deloitte CRG; Dallas
Prof. David C. Smith
University of Virginia McIntire School of Commerce; Charlottesville, Va.
5:30-6:30 p.m.
Opening Networking Reception with the Participants of the 2020 Complex Financial Restructuring Program
Sponsored by Baker Tilly Virchow Krause, LLP
Join us for drinks and hors d’oeuvres with faculty and participants.
Thursday, February 27
8:00-9:00 a.m.
Registration and Networking Breakfast
9:00-9:10 a.m.
Welcome & Opening Remarks
9:10-10:25 a.m. (1.25 hrs.)
Hot Topics in Valuation
Valuation is at the center of the vast majority of bankruptcy proceedings and litigation. This panel will discuss several highly contested issues, including valuation inputs, which are based on professional judgment, challenging market-based evidence, the role of hindsight in valuation, and tax attributes and the tax reform law as valuation’s X-factor.
Prof. Israel Shaked, Moderator
Boston University/The Michel-Shaked Group; Boston
David M. Hillman
Proskauer; New York
Allen Pfeiffer
Duff & Phelps, LLC; New York
David T. Plastino
EY; Boston
10:25-10:45 a.m.
Coffee Break
Sponsored by Skadden, Arps, Slate, Meagher & Flom LLP
10:45 a.m.-12:00 noon (1.25 hrs.)
Concurrent Sessions (2)
Valuation of Litigation Claims and Causes of Action in Bankruptcy
As more restructuring cases focus on litigation recoveries (the prosecution of pre-petition fraudulent-conveyance actions, breach-of-duty actions, etc.), recoveries to creditors are more driven than ever by the values realized through the prosecution (and/or settlement) of such actions. This panel will focus on how fund managers analyze these types of litigation, how professionals prosecute (and defend) these litigations, and the roles that financial advisors play in the same.
Andrew N. Goldman, Moderator
Wilmer Cutler Pickering Hale and Dorr LLP; New York
David M. Dunn
Cross Sound Management LLC; Wilton, Conn.
Craig A. Jacobson
GlassRatner Advisory & Capital Group LLC; New York
Peter Kravitz
Province; Henderson, NV
Sidney P. Levinson
Debevoise & Plimpton LLP; New York
The Latest Investment Banking, Turnaround and Legal Insights on Rapid Changes in Grocery Retail
This panel will discuss grocery retailers surviving the challenges from warehouse clubs, drug stores, convenience stores, online shopping and evolving consumer tastes, as well as the “meat and potatoes” of grocery valuation and when turnaround is possible. The panelists will also provide a “how-to guide” for vetting management’s business plans and selecting the correct
Anup Sathy, Moderator
Kirkland & Ellis LLP; Chicago
Stephen J. Antinelli
Rothschild & Co.; New York
Jeffrey J. Stegenga
Alvarez & Marsal; Dallas
12:00-12:30 p.m.
Luncheon
Sponsored by KCC
12:30-1:30 p.m. (1.00 hr.)
Luncheon Keynote Presentation
Sponsored by KCC
John “Jack” Wm. Butler, Jr.
Birch Lake Holdings, L.P.; Chicago
Hon. Kevin J. Carey (Ret.)
Hogan Lovells US LLP; Philadelphia
1:30-1:40 p.m.
Refreshment Break
1:40-2:55 p.m. (1.25 hrs.)
Concurrent Sessions (2)
Valuation of Intangible Assets and Non-Debt Liabilities
From patents and trademarks to pensions and OPEB, this panel will tackle balance-sheet items that often fall into the gray areas of restructuring valuation.
Diana A. Hopkins, Moderator
BDO Consulting; New York
Matthew J. Hart
Jefferies Financial Group Inc.; New York
Timothy Hoffmann
Jones Day; Chicago
Michael Lasinski
Ankura Consulting Group, LLC; Ann Arbor, Mich.
Cross-Border Valuation Issues
Globalization and evolving insolvency regimes worldwide are continuing to drive interesting and novel valuation developments in cross-border restructuring cases. This session will discuss these issues and more.
James L. Bromley, Moderator
Sullivan & Cromwell LLP; New York
Ryan Preston Dahl
Weil, Gotshal & Manges LLP; New York
Rebecca A. Roof
AlixPartners, LLP; Houston
John Singh
PJT Partners Inc.; New York
2:55-3:00 p.m.
Break to Change Rooms
3:00-4:00 p.m. (1.00 hr.)
Diminution in Value Claims
During this session, the panel will focus on mechanisms for measuring diminution in value claims, with a focus on commodities — including recent E&P cases — and whether commodity fluctuation should be considered for purposes of weighing those claims.
Marti P. Murray, Moderator
The Brattle Group, Inc.; New York
Hon. Kevin J. Carey (Ret.)
Hogan Lovells US LLP; Philadelphia
Ben Ilhardt
Houlihan Lokey; Chicago
Laureen M. Ryan
Alvarez & Marsal; New York
Mark A. Salzberg
Squire Patton Boggs; Washington, D.C.
4:00-4:15 p.m.
Refreshment Break
Sponsored by Development Specialists, Inc.
4:15-5:30 p.m. (1.25 hrs.)
Valuation Meets the Amazing Kreskin: Valuing Contingent Assets and Liabilities
Beyond Xonics and retrojection, this panel will explore techniques and legal theories for valuing contingent liabilities and assets when assessing insolvency as compared to GAAP and financial reporting rules.
Patricia B. Tomasco, Moderator
Quinn Emanuel Urquhart & Sullivan, LLP; Houston
Alice B. Eaton
Paul, Weiss, Rifkind, Wharton & Garrison LLP; New York/p>
Jeffrey Kopa
AlixPartners, LLP; Chicago
Perry Mandarino
B. Riley FBR, Inc.; New York
5:30-6:30 p.m.
Networking Reception
Join us for drinks and hors d’oeuvres with faculty and participants.
Friday, February 28
8:00-8:30 a.m.
Networking Breakfast
Sponsored by Grant Thornton LLP
8:30-9:30 a.m. (1.00 hr.)
Financial Expert Depositions: The Dos, the Don’ts, and Everything in Between
Employing real-time deposition simulations, this distinguished and experienced panel will amplify the recurring tricks, trade and troubles that financial experts and counsel must confront in the preparation and defense of an expert’s opinion. The panel will focus on sophisticated preparation strategies, the importance and role of the expert report, and various tactics and strategies embraced by counsel in taking or defending an effective expert deposition. The panel will also explore the “rights” of an expert in a deposition that ranges from the mundane-but-necessary to the combative-if-not-outrageous.
Julia Frost-Davies
Morgan, Lewis & Bockius LLP; Boston
Elizabeth Carol Freeman
Jackson Walker; Houston
Yvette Austin Smith
The Brattle Group, Inc.; New York
Michael D. Warner
Cole Schotz P.C.; Fort Worth
9:30-9:45 a.m.
Coffee Break
9:45-10:45 a.m. (1.00 hr.)
Expert Pitfalls — and Ways to Avoid Them
After the analysis comes the hard part of being an expert: reports, depositions and testimony. Learn pro tips from some of the industry’s leading expert witnesses and litigators to ensure that your skills shine and you avoid potentially disastrous traps (or that you recover from them when they emerge).
William Q. Derrough
Moelis & Company; New York
Jeffrey Dunn
Berkeley Research Group; New York
Thomas J. Moloney
Cleary Gottlieb Steen & Hamilton LLP; New York
Dr. Faten Sabry
NERA Economic Consulting; New York
David M. Zensky
Akin Gump Strauss Hauer & Feld LLP; New York
10:45-11:45 a.m. (1.00 hr.)
Alix v. McKinsey: 2014 Issues and Ethics
M. Douglas Flahaut, Moderator
Arent Fox LLP; Los Angeles
Kathryn A. Coleman
Hughes Hubbard & Reed LLP; New York
Hon. Barbara J. Houser
U.S. Bankruptcy Court (N.D. Texas); Dallas
11:45 a.m.
Adjourn
Co-Chairs
Patricia B. Tomasco
Quinn Emanuel Urquhart & Sullivan, LLP; Houston
Jack F. Williams
Baker Tilly Virchow Krause, LLP; Atlanta
Advisory Board
Steven M. Abramowitz
Vinson & Elkins LLP; New York
George P. Angelich
Arent Fox LLP; New York
Lisa G. Beckerman
Akin Gump Strauss Hauer & Feld LLP; New York
John “Jack” Wm. Butler, Jr.
Birch Lake Holdings, L.P.; Chicago
R. Brian Calvert
Development Specialists, Inc.; Los Angeles
Sylvia Cho
Grant Thornton LLP; Chicago
Steven Cimalore
Wilmington Trust; Wilmington, Del.
Kathryn A. Coleman
Hughes Hubbard & Reed LLP; New York
Stephen B. Darr
Huron Consulting Group Inc.; Boston
Adam Dunayer
Houlihan Lokey; Dallas
Jeffrey R. Dunn
Berkeley Research Group, LLC; New York
Van C. Durrer, II
Skadden, Arps, Slate, Meagher & Flom LLP; Los Angeles
Leah M. Eisenberg
Foley & Lardner LLP; New York
Steven J. Fleming
PwC; New York
Gregory W. Fox
Goodwin Procter LLP; New York
Michael Friedman
Chapman and Cutler LLP; New York
Andrew N. Goldman
WilmerHale; New York
Matthew J. Hart
Jefferies LLC; New York
Bradley E. Henn
FTI Consulting, Inc.; New York
David M. Hillman
Proskauer; New York
Gary T. Holtzer
Weil, Gotshal & Manges LLP; New York
Diana A. Hopkins
BDO USA, LLP; New York
Laura Davis Jones
Pachulski Stang Ziehl & Jones LLP; Wilmington, Del.
Robert Jordan
KCC; New York
Adam B. Keil
Moelis & Company; New York
Paul D. Leake
Skadden, Arps, Slate, Meagher & Flom LLP; New York
Dustin Lough
CR3 Partners LLC; Charlotte, N.C.
James M. Lukenda
Association of Insolvency & Restructuring Advisors; Montclair, NY
Kenneth J. Malek
MalekRemian; Libertyville, Ill.
Rachel Jaffe Mauceri
Morgan, Lewis & Bockius LLP; Philadelphia
Deirdre A. McGuinness
Epiq; New York
Peter S. Partee
Hunton Andrews Kurth; New York
Richard Peil
GlassRatner Advisory & Capital Group LLC; Phoenix
Allen Pfeiffer
Duff & Phelps, LLC; New York
David W. Prager
Goldin Associates, LLC: New York
Amy Quackenboss
Executive Director, American Bankruptcy Institute; Alexandria, VA
Barry G. Radick
Alvarez & Marsal; New York
Jeffrey N. Rothleder
Squire Patton Boggs; Washington, D.C.
Dr. Faten Sabry
NERA Economic Consulting; New York
Prof. Israel Shaked
Boston University/The Michel-Shaked Group; Boston
Robert J. Stark
Brown Rudnick LLP; New York
Thomas Studebaker
AlixPartners LLP; Boston
Ross Waetzman
Gavin/Solmonese LLC; Wilmington, Del.
Antony Walker
CohnReznick LLP; Dallas
Steven T. Waterman
Dorsey & Whitney LLP; Salt Lake City
Allen D. Wilen
EisnerAmper LLP; Iselin, N.J.
Event Sponsors
General Sponsors
Akin Gump Strauss Hauer & Feld LLP
Alvarez & Marsal
Arent Fox LLP
BDO USA, LLP
Berkeley Research Group, LLC
Birch Lake Holdings, LP
Brown Rudnick LLP
CohnReznick LLP
Dorsey & Whitney LLP
Duff & Phelps, LLC
EisnerAmper LLP
Epiq
Foley & Lardner LLP
GlassRatner Advisory & Capital Group LLC
Goldin Associates, LLC
Goodwin Procter LLP
Houlihan Lokey
Hughes Hubbard & Reed LLP
Hunton Andrews Kurth LLP
Huron Consulting Group, Inc.
Jefferies LLC
MalekRemian LLC
Moelis & Company
Morgan Lewis & Bockius LLP
NERA Economic Consulting
Proskauer
Quinn Emanuel Urquhart & Sullivan LLP
Squire Patton Boggs
The Michel-Shaked Group
Vinson & Elkins LLP
Weil, Gotshal & Manges LLP
WilmerHale
Exhibit Hall Sponsor
Conference Information
Hotel
The Four Seasons Las Vegas is a sanctuary from the bright lights of the dazzling Las Vegas Strip, all located on the 35th to 39th floors of the Mandalay Bay Resort & Casino tower — ensuring a more intimate atmosphere and attentive personal service. ABI and AIRA have arranged a special conference rate of $229 per night from February 26-28, 2020. Reservations must be made directly with the hotel prior to February 4, 2020, to take advantage of the special conference rate. In order to be eligible for the group rate, reservations may be made only once you have registered with ABI. Upon payment of the conference registration fees, you will receive hotel reservation information with your conference confirmation. Rooms are held on a first-come, first-served basis. ABI cannot guarantee any rooms after the specially rated ABI/AIRA block is filled.
Travel
Air: Fly into McCarran International Airport (LAS).
Continuing Education
This program is eligible for 11 hours of general CLE credit, including 1 hour of ethics/professionalism, in states calculating CLE on a 60-minute hour, and 13.2 hours of general CLE credit, including 1.2 hours of ethics/professionalism, in 50-minute-hour states. Credit hours are estimated and are subject to each state’s approval and credit-rounding rules and might not be approved prior to the program. California MCLE: ABI certifies that this activity has been approved for MCLE credit in the amount of 11 hours, of which 1 hour will apply to ethics. NY MCLE: This course or program has been approved in accordance with the requirements of the New York State Continuing Legal Education Board for a maximum of 13 credit hours, of which 12 credit hours can be applied toward the professional practice requirement and 1 credit hour can be applied toward the ethics professionalism requirement.
13 hours of CPE credit, including 1 hour of ethics, are also available.
*ABI and AIRA offer intermediate-level courses, which assume that attendees will have at least some detailed knowledge of insolvency matters (pursuant to the “Statement on Standards for CPE Programs” established by AICPA and NASBA). ABI is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State Boards of Accountancy have the final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website, www.nasbaregistry.org.
Financial Hardship Statement
ABI acknowledges that in some instances there will be persons who need to attend an educational seminar for CLE credit who are not able to pay full registration fees. ABI will handle such instances on a case-by-case basis and will work with the individual on alternative solutions. For persons who cannot meet the full registration rate, ABI will offer a reduced rate based on what the individual can reasonably afford to cover the cost of meals and materials. For persons unable to pay a reduced rate, ABI may allow the individual to work at the registration area for a few hours during attendee check-in, or assist in conference set-up. ABI also has reduced rates for government employees, professors, law clerks and students. Financial assistance is available for this program; all applications for financial assistance must be submitted by January 17, 2020. For more information or to request an application, please contact the American Bankruptcy Institute at (703) 739-0800 or send an e-mail to [email protected].
Conference Attire
Attire is business casual throughout the conference.
Cancellation Policy
All fees, except a $75 handling fee, will be refunded if written notice of cancellation is received by February 5, 2020. No refunds will be granted after February 5, but substitutions will be allowed. After February 5, upon written request, a coupon for 20% off the registration fee (not including optional events) will be issued, which can be used (by the cancelling registrant only) for any ABI educational program up to one year after this conference, or for this same conference next year. Email Allyson Donohue at [email protected] with any questions.
VALCON 2020 Registration Rates
Registration Rates | Early (by 12/20/19) |
Regular (12/21/19-2/7/20) |
Late (after 2/7/20) |
ABI/AIRA Member |
$745
|
$795 |
$845
|
Gov't./Aca./Nonprofit ABI/AIRA Member |
$345
|
$395 |
$445
|
New ABI/AIRA Member* |
$1,070
|
$1,120 |
$1,170
|
New Gov't./Aca./Nonprofit ABI/AIRA Member* |
$440
|
$490 |
$540
|
*Includes a one-year ABI and AIRA membership for first-time members only — a $645 value! You must be an ABI or AIRA member to attend. Membership is individual and nonrefundable. If your ABI membership has expired, select the member rate and add in your ABI membership renewal fee.
VALCON 2020 & CFRP 2020 Joint Registration Rates
Registration Rates | Early (by 12/20/19) |
Regular (12/21/19-2/7/20) |
Late (after 2/7/20) |
ABI/AIRA Member |
$995
|
$1,075 |
$1,125
|
Gov't./Aca./Nonprofit ABI/AIRA Member |
$550
|
$600 |
$650
|
New ABI/AIRA Member* |
$1,320
|
$1,400 |
$1,450
|
New Gov't./Aca./Nonprofit ABI/AIRA Member* |
$645
|
$695 |
$745
|
*Includes a one-year ABI and AIRA membership for first-time members only — a $645 value! You must be an ABI or AIRA member to attend. Membership is individual and nonrefundable. If your ABI membership has expired, select the member rate and add in your ABI membership renewal fee.
CFRP 2020 Registration Rates
Registration Rates | Early (by 12/20/19) |
Regular (12/21/19-2/7/20) |
Late (after 2/7/20) |
ABI Member |
$545
|
$595 |
$645
|
Gov't./Aca./Nonprofit ABI Member |
$345
|
$395 |
$445
|
Join and Save* |
$870
|
$920 |
$970
|
New Gov't./Aca./Nonprofit ABI/AIRA Member* |
$440
|
$490 |
$540
|
*Includes a one-year ABI membership for first-time members only — a $350 value! You must be an ABI member to attend. Membership is individual and nonrefundable. If your ABI membership has expired, select the member rate and add in your ABI membership renewal fee.