Designed to deal with the impact that the 2005 Bankruptcy Act will have on plans of reorganization and other contemporary issues faced by professionals and debtors in restructuring companies in today’s economy.

Networking Cocktail Reception following the educational program sponsored by Arent Fox PLLC and Kaye Scholer LLP

Reception Sponsors:

• Arent Fox PLLC
• Kaye Scholer LLP

Online registration is now closed. Walk-in Registrations will be taken at the door.

$325 (Members on or before 11/4/05)
$375 (Members after 11/4/05)
$355 (Non-Members on or before 11/4/05)
$405 (Non-Members after 11/4/05)
$100 (Judges, US Trustees and other government employees)

Cocktail Reception Only: $50

Cancellation Policy:
There will be a $50 fee for cancellations made after 11/01/05

A limited number of rooms are available at the Park Central New York at the special room rate of $289 single/double plus tax per night. For reservations call (212) 247-8000 or (800) 346-1359, ask for AIRA room block by 10/26/05. Any reservations made after this date will be based on the Park Central’s availability and will be charged the full price.

Please Note: Application for CLE credit has been made in New York. CLE credit in the amount of 8 hours has been submitted to the appropriate State Bar.

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7:30–8:15am Registration and Continental Breakfast

8:15-8:20am  Introduction & Opening Remarks
Conference Chair: Andrew Silfen, Arent Fox PLLC

8:20–9:20 Implications of the Bankruptcy Amendments on Plans of Reorganization

Moderator: Marc Rosenberg, Kaye Scholer, LLP
Speakers: Alan Holtz, CIRA, Giuliani Capital Advisors
Richard G. Mason, Wachtell, Lipton, Rosen & Katz

Content: This panel will discuss the various provisions of the Bankruptcy Amendments that will impact plans of reorganization after full enactment in October 2005. Issues covered will include exclusivity; lease assumptions/rejections; role of trade creditors and exit financing requirements.

9:20–10:15 Types of Reorganization Plans and Recent Trends - Equity Plans

Moderator: George Davis, Weil Gotshal
Speakers: Durc Savini, Miller Buckfire; Brad Parish, D.E. Shaw & Co LP; Simeon Gold, Weil Gotshal

Content: A panel discussion of the legal, financial and tax considerations in equity plans. The panel will also discuss issues in equity participation from an investor’s perspective.

10:15–11:05 Reallocation Plans and Unlocking Value for Unsecured Creditors

Moderator: Andrew Silfen, Arent Fox, PLLC
Speakers: Aaron R. Cahn, Carter Ledyard; Jeffrey T. Sutton, Mahoney Cohen

Content: Panel will discuss cutting edge legal and business issues concerning intercreditor disputes and compromises, altering priorities among creditors and unlocking value for and making meaningful distribution to “out of the money” unsecured or subordinated creditors. The panel will explore
various procedures and mechanisms available to creditors or creditors committees including reallocation, give ups and distribution sharing arrangments. The panel will also discuss the formulation, development and confirmation of reallocation plans and plans in administratively or priority insolvent cases.

11:05–11:20 Break

11:20–12:15 Creditor & Liquidating Trusts - Structure, Administration & Tax Issues

Moderator: Matthew Schwartz, CIRA, Bederson & Company LLP
Speakers: William S. Katchen, Duane Morris LLP; Nick D. Tally, Wells Fargo Bank, NA

Content: Liquidating trusts are a popular mechanism for facilitating distributions to creditors. With the more restrictive time frames for completing a champter 11 in the BAPCPA, liquidating trusts may become even more prevalent. This presentation focuses on operational, legal and financial issues
associated with structuring and coordinationg the trust and trust document with the POR, managing the trust assets, effecting distributions to beneficiaries and some of the more controversial issues encountered in trust administration.

12:20–1:30 Lunch: Keynote speaker - Allan Sloan

1:30–2:20 Creditors’ Committees Under the 2005 Bankruptcy Amendments

Moderator: Fred Hodara, Akin Gump Strauss Hauer & Feld LLP
Speakers: Tina Brozman, Bingham McCutchen’s Financial Restructuring Group; David Hilty, Houlihan Lokey Howard & Zukin; James J. McGinley, Wilmington Trust FSB

Content: The 2005 bankruptcy amendments include key provisions for parties serving on or dealing with creditors’ committees. This panel will explore what it means that a committee “shall provide access to information for creditors” and shall solicit “comments from...creditors.” Panelists will consider the effect of pro-vendor amendments on the composition of committees and consider the effect of key
amendments on subject matter of typical interest to a committee, such as the new cap on the exclusive period and the limitations on the management and employee KERP and severance provisions.

2:20–3:15 Fresh Start Accounting

Moderator: James M. Lukenda, CIRA, Huron Consulting Group LLC
Speakers: Michael Sullivan, Huron Consulting Group LLC; Anthony Sasso, CIRA, Deloitte.; Stephen Darr, CIRA, Mesirow Financial Consulting LLC

Content: Since its release 15 years ago, AICPA Statement of Position 90-7 (SOP 90-7) has served as teh primary guidance for financial reporting for companies during and emerging from Chapter 11. Over the years, practitioners have faced many issues of interpretation and application in following the guidance in SOP 90-7 and how that guidance is applied with other generally accepted accounting principles. The session will cover issues addressed by the AIRA SOP 90-7 Task Force and discuss those areas of interpretation most frequently faced by practitioners. 

3:00–3:15 Break

3:30–4:30 The Rise of Hedge Funds as Players in Restructurings

Moderator: William K. Lenhart, CIRA, BDO Seidman, LLP Speakers: Joseph Smolinsky, Chadbourne & Parke, LLP; Victor Simonte, Strategic Value Partners, LLC; Bruce M. Buchanan, GE Corporate Financial Services, Inc.

Content: Hedge Funds have grown to over 8000 entities involved in all aspects of lending to distressed companies. What is their current role in restructuring and the issues encountered by the professionals that represent the various parties-in-interest. How will the new bankruptcy law impact their role and enhance the strategy of “loan to own.”

4:30–5:30 Dealing with Pension & Benefit Issues & the PBGC - A Year in Review

Moderator: Carol Connor Flowe, Arent Fox, PLLC
Speakers: Sharon L. Levine, Lowenstein Sandler PC; Jeffrey B. Cohen, Pension Benefit Guaranty Corporation

Content: PBGC’s deficit continued to grow in the past year, and a significant portion of that deficit is attributable to the pension plans of United Air Lines. The United case raised many o fthe issues that parties often face in these somtimes contentious situations, including the interaction between Bankruptcy Code § 1113 and the pension plan termination provisions of ERISA, the authority of PBGC to enter into settlement agreements with debtors providing for plan termination, permissible grounds for involuntary plan termination, and the role of an independent fiduciary in the process.

5:30-7:00pm Cocktail Reception

Reception Sponsors:
Arent Fox PLLC
Kaye Scholer LLP