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Northwestern Wins Third Annual Corporate Restructuring Competition

Contact: John Hartgen
             (703) 739-0800
             jhartgen@abiworld.org

 

NORTHWESTERN WINS THIRD ANNUAL CORPORATE RESTRUCTURING COMPETITION

January 24, 2007, Alexandria, Va. — A team from Northwestern University's Kellogg School of Management won the Bettina M. Whyte Trophy at the Third Annual ABI Corporate Restructuring Competition,   Jan. 19-21 in Chicago. The second-year MBA students also shared a $5,000 cash prize. Duke University Fuqua School of Business won the second place award of $3,000, with the University of California-Berkeley Haas School of Business receiving the $1,750 prize for third and Stanford University students receiving $1,250 for fourth place.

The competition, which is co-sponsored by ABI and Houlihan Lokey investment banking firm, provides 12 of the nation’s top MBA programs with a unique opportunity to learn by solving a real-world restructuring case problem. The students had a week to “solve” the problem and prepare comprehensive presentations showing their operational and financial plans, before panels of judges representing a mock board of directors and bondholders, with a final round before a mock first and second lienholders.

Past winners of the Corporate Restructuring Competition include the Stern Graduate School of Business of New York University and Stanford Graduate Business School. Other schools in this year’s competition in addition to the finalists and past years’ winners included the University of Chicago, Dartmouth University, University of Virginia, University of Pennsylvania, University of Michigan and Notre Dame University.

In addition to the case presentations, the competition featured a sponsored networking dinner keynoted by Prof. Douglas Baird (University of Chicago Law School). Nearly 150 Chicago-area restructuring professionals attended. An awards luncheon also followed the Final Round of the competition.

To find out more about the Corporate Restructuring Competition, please visit www.abiworld.org/crc.

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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 11,500 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 www.abiworld.org. For additional conference information, visit http://www.abiworld.org/conferences.html.