7:30 a.m.

Registration Desk Open

8:00- 8:30 a.m.

Continental Breakfast

8:30-8:45 a.m.

Conference Chairs’ Welcome

8:45-10:00 a.m.

Plenary Session

Judges’ Roundtable: Selected Current Topics

10:00-10:15 a.m.

Refreshment Break

10:15-11:30 a.m.

Concurrent Sessions (6)

Cross-Border Bankruptcy Issues

The panelists will discuss European loan structure developments, including but not limited to a shift in European loan structures to U.S. debt instruments, how these credits will be restructured, whether the existing tools in Europe will work for bond issuers and more. Brexit’s impact on recognition proceedings, as well as COMI-shifting and jurisdiction issues, will also be covered.

Ira L. Herman, Moderator

Blank Rome LLP

Ryan Preston Dahl

Weil, Gotshal & Manges LLP

Douglas E. Deutsch

Clifford Chance

Evan C. Hollander

Orrick Herrington & Sutcliffe LLP

David Hilty

Houlihan Lokey

Rick Morris

HPS Investment Partners, LLC

Maja Zerjal

Proskauer

Recent Confirmation Developments

Join this session for a discussion on plan vs. statutory impairment (Ultra, PG&E), treatment of third-party releases/plan proponents (Millennium (3d Cir.), SunEdison and other recent S.D.N.Y./Del. decisions, Emerge and Cloud Peak (Del.)), and classification (Novinda (10th Cir. BAP, litigation claims against a creditor justifies separate classification from other unsecureds)). Should all similarly situated creditors have the right to participate in rights offerings, financings, etc. (PacDrilling, Peabody)? Panelists will also discuss feasibility in light of the return of debtors to bankruptcy (including in the energy and retail space). Are reorganizations being rubber-stamped too easily?

Edward S. Weisfelner, Moderator

Brown Rudnick LLP

Robert D. Gordon

Jenner & Block

Nicole L. Greenblatt

Kirkland & Ellis LLP

Fred B. Ringel

Robinson Brog Leinwand Greene Genovese & Gluck, P.C.

Roopesh Shah

Evercore

Andrew D. Sorkin

Latham & Watkins

Robin Spigel

Baker Botts L.L.P.

Trends in DIP Financing

This panel will discuss financing orders, milestones and other case management through the DIP facility. What should be allowed for case management by secured creditors via DIP-financing and/or cash-collateral orders, including the case milestones? What terms are and should be acceptable in first-day cash-collateral and DIP-financing orders (Aegean) — too much control, or simply adequate protection? What does it take for a third party to prime? This session will also focus on structural priming, including by taking liens on unencumbered foreign assets (Hexion); using DIP financing as a tool to protect pre-petition debt; the use of roll-ups; the ratio of new money to roll up that is necessary/“market”; justifying a zero-new-money roll-up (EP Energy); providing a secured term loan pre-bankruptcy and using the proceeds as cash collateral; and rolling up pre-filing emergency loans (Westmoreland).

Kathryn A. Coleman, Moderator

Hughes Hubbard & Reed LLP

Alexander V. Rohan

B. Riley FBR, Inc.

Jorian L. Rose

BakerHostetler

Andrew V. Tenzer

Paul Hastings LLP

Brian Trust

Mayer Brown LLP

Robert White

Jefferies

Corporate Governance in Distressed Situations

The panelists will discuss different strategies sponsors are using to retain control (or at least put a stake through) the bankruptcy process. What are the risks to sponsors/litigation issues? The panelists will also discuss fiduciary duties, managing conflicts and retaining separate counsel, the interplay between corporate governance and aggressive sponsor action (e.g., selling or spinning/stripping off assets), sponsor affiliates purchasing debt in the portfolio company’s capital structure, and 10b-5 compliance, as well as negotiating/litigating with a difficult board. This session also includes a discussion of issues that arise when dealing with a challenging board of directors, especially those where some or all directors have been appointed by a controlling shareholder.

Michael H. Torkin, Moderator

Simpson Thacher & Bartlett LLP

Hon. Melanie L. Cyganowski (ret.)

Otterbourg P.C.

Scott J. Greenberg

Gibson, Dunn & Crutcher LLP

Daniel B. Kamensky

Marble Ridge Capital LLP

Marc D. Puntus

Centerview Partners LLC

Albert J. Togut

Togut, Segal & Segal LLP

§ 363 Sale Issues

Are there limits to “free and clear” (GM)? This panel will discuss sales free and clear of leasehold interests, restrictive covenants and override royalties; conflicts between §§ 365 and 363(f) (lease- or license-stripping); assets free and clear of successorship in CBAs; selling free and clear of environmental liabilities (La Paloma, Exide); loan-to-own strategies; and the treatment of breakup fees (C&K Market, EFH).

Lisa M. Schweitzer, Moderator

Cleary Gottlieb Steen & Hamilton LLP

Robert Albergotti

AlixPartners, LLP

Samuel S. Kohn

Norton Rose Fulbright US LLP

Paul D. Leake

Skadden, Arps, Slate, Meagher & Flom LLP

Richard G. Mason

Wachtell, Lipton, Rosen & Katz

Michael O’Hara

PJT Partners Inc.

William P. Weintraub

Goodwin Procter LLP

Liquidating Plans

What do attorneys and other professionals need to know when preparing chapter 11 liquidation plans? This panel will include discussions on selecting a trust, LLC, plan administrator or other vehicle; ensuring that affirmative claims are preserved post-confirmation; searching for unencumbered assets; negotiating carve-outs; establishing a value/tax basis in litigation claims and other assets transferred to a trust or LLC; key plan provisions, such as preserving 2004 discovery rights, creditor oversight, continuing court oversight, required reporting and retention/transfer of attorney/client privilege; trading of interests; provisions for closing the case; and structured dismissals following asset sales as an alternative to a liquidating plan.

Jeffrey S. Sabin, Moderator

Venable LLP

Michael Baumkirchner

Ankura Consulting Group, LLC

Kenneth Epstein

Omni Bridgeway

Jonathan L. Flaxer

Golenbock Eiseman Assor Bell & Peskoe LLP

Christopher J. Kearns

Berkeley Research Group, LLC

Daniel A. Lowenthal

Patterson Belknap Webb & Tyler LLP

Rachel C. Strickland

Willkie Farr & Gallagher LLP

11:30-11:45 a.m.

Refreshment Break

11:45 a.m.-1:00 p.m.

Repeat Concurrent Sessions (6)

Cross-Border Bankruptcy Issues

Recent Confirmation Developments

Trends in DIP Financing

Corporate Governance in Distressed Situations

§ 363 Sale Issues

Liquidating Plans

1:00-1:30 p.m.

Buffet Lunch

1:30-2:30 p.m.

Plenary Session

The Opioid Crisis

The Nation is in the midst of an unprecedented opioid epidemic. More than 130 people die every day from opioid-related drug overdoses. The legal battle over who’s at fault will be fought for a very long time. At least two significant chapter 11 filings have occurred with potentially more to come. Developments in these bankruptcy cases will have a significant impact on the development of crucial public health initiatives seeking to address the crisis as well as wide-ranging implications for future mass tort situations. A panel of participants in these situations will discuss legal, social and political implications of these cases.

Hon. Kevin J. Carey (ret.)

Hogan Lovells US LLP; Philadelphia, PA

Lara Fogel

Deputy Attorney General; New Jersey

Hon. Kevin Gross

Chief Judge; U.S. Bankruptcy Court (D. Del.); Wilmington

David Molton

Brown Rudnick

Arik Preis

Akin Gump Strauss Hauer & Feld LLP

Andrew Troop

Pillsbury Winthrop Shaw Pittman LLP

2:45-4:00 p.m.

Concurrent Sessions (6)

Bankruptcy Litigation Panel

The panelists will tackle jurisdictional issues in Relativity; debt recharacterization, circuit splits and the Supreme Court’s withdrawal of certiorari in PEM v. Levin; avoidance actions and the application of avoidance powers extraterritorially (Ampal-American, Emerald, Madoff, Puerto Rico); fraudulent transfers; the trustee’s use of the IRS look-back for fraudulent transfers; Lyondell (reinstatement of unsecured creditors’ intentional fraudulent-conveyance claim, ruling that the intent of the CEO can be imputed to the company); § 546(e) safe harbors (Tribune (2d Cir.)); discovery in bankruptcy courts; and venue selection.

Susheel Kirpalani, Moderator

Quinn Emanuel Urquhart & Sullivan, LLP

Robert J. Feinstein

Pachulski Stang Ziehl & Jones

David MacGreevey

AlixPartners, LLP

Alec P. Ostrow

Becker, Glynn, Muffly, Chassin & Hosinski LLP

Barbra R. Parlin

Holland & Knight LLP

Andrew Scruton

FTI Consulting, Inc.

Valuation Developments and Disputes: Where Are We Now?

This panel will discuss common valuation challenges and responses, and provide insight into piecing together multiple valuation techniques. The panelists will also touch upon identifying reasonable comps for similar companies and precedent transactions, reliance on/restating projections, and where valuation and liquidation analysis blend together, including non-cash-flowing assets.

Madlyn Gleich Primoff, Moderator

Freshfields Bruckhaus Deringer LLP

Philip Bentley

Kramer Levin Naftalis & Frankel LLP

Eric B. Fisher

Binder & Schwartz LLP

David M. Posner

Kilpatrick Townsend & Stockton LLP

Dr. Faten Sabry

NERA Economic Consulting

Christopher K. Wu

Teneo

Liquidation Outside Chapter 11: Considerations for Cannabis Insolvencies

This panel will compare and contrast liquidating chapter 11 plans and certain state receiverships, ABCs and judicial dissolutions, and will discuss the tools available in and the risks attendant to each, as well as which companies are more appropriate for which type of liquidation option.

Gerard DiConza, Moderator

Archer & Greiner

William A. Brandt

Development Specialists, Inc.

Frank Grese

Baker & McKenzie LLP

Marc Hirschfield

Royer Cooper Cohen Braunfeld LLC

Post-Restructuring

This panel will discuss the disposition of restructured equity, including § 1145 and other limitations and exemptions; selecting and managing post-restructured boards and how to assemble a new board with a view toward maximizing value; issues attendant to the recruitment of pertinent and qualified directors; departures from rent-a-director; use of independent directors on a new board; granting of observer rights; perspectives of being a member of a well-run post-restructured board; shareholder voting and control considerations, including minority rights; incentivizing management through MIPs, KEIPs/KERPs and employment agreement considerations (e.g., CoC/severance); fostering long-term shareholder value; antitrust issues; and public vs. private emergence.

Paul H. Zumbro, Moderator

Cravath, Swaine & Moore LLP

Lisa G. Beckerman

Akin Gump Strauss Hauer & Feld LLP

Kristopher M. Hansen

Stroock & Stroock & Lavan LLP

William H. Henrich

Getzler Henrich & Associates LLC

Intercreditor Disputes

This session will examine what happens following a successful credit bid (Allied), including the scope of § 363 sale orders and whether they should or can address intercreditor issues; intercreditor agreements and the application of post-petition interest (EFH); equal and ratable lien-trigger clauses (iHeart); de facto claim subordination (La Paloma); and the rights preserved for junior creditors under intercreditor agreements, and whether the exceptions swallow the rule (Claires, Momentive).

Brian M. Resnick, Moderator

Davis Polk & Wardwell LLP

Dennis F. Dunne

Milbank LLP

Marc J. Heimowitz

Coda Advisory Group LLC

Michael Luskin

Luskin, Stern & Eisler LLP

J. Soren Reynertson

GLC Advisors & Co.

Glenn E. Siegel

Morgan, Lewis & Bockius LLP

Arthur J. Steinberg

King & Spalding LLP

Ethics Panel

Join the panelists in this discussion on a plethora of current ethical issues, including disclosure obligations as a retained advisor (Alix v. McKinsey); obtaining a conflict waiver and the disinterestedness standards of debtor’s counsel (Caesars); use of confidential information as a party in interest, including MNPI and trading and disclosure issues (e.g., appropriateness of filing under seal vs. reconciling differing cleansing demands of debt-holders); compensation of professionals (Baker Botts v. ASARCO); fee-litigation; a recent Ninth Circuit decision on the potential implications of exceeding fee caps; directly adverse vs. positionally adverse; relatedness to a prior matter; ABI’s Report on Standards of Professional Courtesy and Conduct; and litigation financing in the liquidating trust context.

John D. Penn, Moderator

Perkins Coie LLP

Christopher R. Donoho

Hogan Lovells US LLP

Jonathan E. Goldin

Goldin Associates, LLC

Abbey Walsh

Schulte Roth & Zabel LLP

4:00-4:15 p.m.

Refreshment Break

4:15-5:30 p.m.

Repeat Concurrent Sessions (6)

Bankruptcy Litigation Panel

Valuation Developments and Disputes: Where Are We Now?

Liquidation Outside Chapter 11: Considerations for Cannabis Insolvencies

Gerard DiConza, Moderator

Archer & Greiner

Peter Hartheimer

Sherwood Partners, Inc.

Jennifer Rodburg

Fried, Frank, Harris, Shriver & Jacobson LLP

Suzanne Uhland

O’Melveny & Myers LLP

Post-Restructuring

Paul H. Zumbro, Moderator

Cravath, Swaine & Moore LLP

Michael Epstein

Deloitte CRG

Brett H. Miller

Morrison & Foerster LLP

Steven A. Seiden

Seiden Krieger Recuiters, Inc.

Intercreditor Disputes

Ethics Panel

John D. Penn, Moderator

Perkins Coie LLP

Jasmine Ball

Debevoise & Plimpton LLP

Edward E. Neiger

ASK LLP

5:30-7:00 p.m.

Networking Reception