University of Pennsylvania Wins Fourth Annual Corporate Restructuring Competition
Contact: John Hartgen
November 14, 2007,
Alexandria, Va. — A team from the University of
Pennsylvania Wharton School of Business won the Bettina M. Whyte Trophy
at the Fourth Annual ABI Corporate Restructuring Competition, held Nov.
The competition, which is co-sponsored by ABI and the Houlihan Lokey international investment banking firm, provides 11 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 mock first and second lienholders.
Past winners of the Corporate
Restructuring Competition include
In addition to the case presentations, the competition featured a sponsored networking dinner keynoted by John McNichols, Managing Director of Research for Fidelity Management & Research Co. An awards luncheon also followed the final round of the competition.
ABI acknowledges the commitment
of Houlihan Lokey to the competition, led by Co-CEO Jeff
Werbalowsky. Houlihan professionals, including Scott
Nearly two dozen senior attorneys and financial professionals helped judge the two-day competition including: Bruce Blackwell (MBIA Insurance Co.), Michael Buenzow (FTI Palladium Partners), Fred Caruso (Development Specialists Inc.), Paul Harner (Paul, Hastings, Janofsky & Walker), Brad Erens (Jones Day), Penny Friedman (CIT Corporate Finance), Suzanne Kelly (Pension Benefit Guarantee Corp.), Thomas Morrow (AlixPartners LLC), Jon Nash (Corporate Revitalization Partners LLC), Matthew Niemann (Cerberus Capital Management LP), Sandra Reese (Reese Partners LLC), Rebecca Roof (AlixPartners LLC), Nancy Ross (High Ridge Partners Inc.), David Shapiro (LaSalle Bank N.A.), Kelly Stapleton (U.S. Trustee), Nate Van Duzer (Fidelity Investments), Jeff Werbalowsky (Houlihan Lokey), Jacqueline Yardley (JPMorgan Chase) and Michael Zorich (Principal Global Investors LLC.).
To find out more about the Corporate Restructuring Competition, please visit www.abiworld.org/crc.
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.