aira’s 30th annual bankruptcy & … · aira’s 30th annual bankruptcy & restructuring...

12
CONFERENCE CHAIRS CONFERENCE SPONSORS Chris LeWand, CIRA FTI Consulting, Inc. Michael Pankow Brownstein Hyatt Farber Schreck LLP Peter Schulman, CIRA, CDBV RubinBrown LLP AlixPartners, LLP; Alston & Bird LLP; Arent Fox LLP; Bachecki, Crom & Co., LLP BMS; Bean Hunt Harris & Company; Bederson LLP; Berkeley Research Group Burr & Forman LLP; Capstone Advisory Group, LLC Conway MacKenzie, Inc.; D.R. Payne & Associates; Deloie CRG; Duane Morris LLP FTI Consulng, Inc.; GlassRatner Advisory & Capital Group LLC; Greenberg Traurig, LLP Huron Consulng Group Inc.; Jones Day; KapilaMukamal, LLP; Lefoldt & Co., P.A. McGladrey LLP; Mesirow Financial Consulng, LLC; MGI Repe LLP Piper Jaffray & Co.; PwC; Provi Inc.; RubinBrown LLP Young Conaway Starga & Taylor, LLP; WeiserMazars LLP; Zolfo Cooper AIRA Association of Insolvency & Restructuring Advisors AIRA’s 30th Annual BANKRUPTCY & RESTRUCTURING CONFERENCE June 4-7, 2014 The Westin Denver Downtown

Upload: ngodiep

Post on 17-Apr-2018

220 views

Category:

Documents


1 download

TRANSCRIPT

CONFERENCE CHAIRS

CONFERENCE SPONSORS

Chris LeWand, CIRA FTI Consulting, Inc.

Michael Pankow Brownstein Hyatt Farber Schreck LLP

Peter Schulman, CIRA, CDBV RubinBrown LLP

AlixPartners, LLP; Alston & Bird LLP; Arent Fox LLP; Bachecki, Crom & Co., LLP BMS; Bean Hunt Harris & Company; Bederson LLP; Berkeley Research Group

Burr & Forman LLP; Capstone Advisory Group, LLC Conway MacKenzie, Inc.; D.R. Payne & Associates; Deloitte CRG; Duane Morris LLP

FTI Consulting, Inc.; GlassRatner Advisory & Capital Group LLC; Greenberg Traurig, LLP Huron Consulting Group Inc.; Jones Day; KapilaMukamal, LLP; Lefoldt & Co., P.A.

McGladrey LLP; Mesirow Financial Consulting, LLC; MGI Repetti LLP Piper Jaffray & Co.; PwC; Protiviti Inc.; RubinBrown LLP

Young Conaway Stargatt & Taylor, LLP; WeiserMazars LLP; Zolfo Cooper

AIRA Association ofInsolvency &Restructuring Advisors

AIRA’s 30th Annual BANKRUPTCY & RESTRUCTURING

CONFERENCE

June 4-7, 2014The Westin Denver Downtown

Letter from AIRA’s President

THANK YOU TO THE PLANNING COMMITTEEPeter Cal, Sherman & Howard L.L.C.; Martin Cauz, CIRA, Marotta Gund Budd & Dzera, LLC

Leah Eisenberg, Arent Fox LLP; Lars Fuller, BakerHostetler; Ted Hartl, Lindquist & Vennum, LLP Annette Jarvis, Dorsey & Whitney; Tom Kim, r2 advisors, llc; Dale Lash, RubinBrown LLP

Chris LeWand, CIRA, FTI Consulting, Inc.; Randy Lewis, Western Receiver, Trustee & Consulting Services Ltd. Jim Marcus, Marcus Williams Young & Zimmerman; Michael Pankow, Brownstein Hyatt Ferber Schreck LLP

Jerrold Poslusny, Cozen O’Connor; Brian Ryniker, CIRA, CBIZ MHM, LLC; Peter Schulman, CIRA, CDBV, RubinBrown LLP Harvey Sender, Sender Wasserman Wadsworth, P.C.; Paul Shields, CIRA, CDBV, Berkeley Research Group

Camisha Simmons, Norton Rose Fulbright, LLP; John Smiley, Lindquist & Vennum, LLP Scott Tandberg, CIRA, AlixPartners, LLP; Kim Tyson, Ireland Stapleton Pryor & Pascoe

WELCOME TO AIRA’S 30TH ANNUAL CONFERENCE

I have been eagerly anticipating this year’s Annual Conference taking place

June 4-7 at The Westin Denver Downtown. We can look forward to an outstanding

educational program and opportunities to mingle with fellow members and

distinguished guests, reinvigorating old friendships and initiating new ones.

On Wednesday, June 4, the preconference program offers a choice of three full-

day sessions, Bankruptcy Taxation and Financial Advisors’ Toolbox, both with

impressive panels that include financial and legal experts, trustees and bankruptcy judges, and a new

Financial Modeling course, which is being offered for the first time. Wednesday’s luncheon program

features Diane Barrett, Chief Projects Officer with the City and County of Denver.

It is exciting to host this conference in the “Mile High City” with the beautiful Rocky Mountains as the back

drop. Attractions in or near Denver are numerous and the conference will provide a sample of some of the

best on Thursday afternoon, including a golf outing at Fossil Trace Golf Course, a Denver Microbrew

tour, a fly casting clinic and a tour of the Molly Brown House Museum that includes a traditional High

Tea. Friday evening we’ll be headed for a short walk to Coors Field to see the Colorado Rockies play the

Los Angeles Dodgers.

With regard to the conference schedule, June 5-7 I am impressed by the breadth and depth of the important

topics covered as well as the quality of the speakers and panelists.

I want to express my sincere thanks to the conference chairs, planning committee, and the AIRA team for

their significant efforts. AIRA’s 30th Annual Bankruptcy & Restructuring Conference will be a fantastic

opportunity to enhance your continuing professional education and enjoy many remarkable experiences.

I look forward to seeing you during the conference,

Anthony Sasso, CIRA, Deloitte Financial Advisory Services LLP

CONFERENCE HOTEL

The Westin Denver Downtown1672 Lawrence Street, Denver, CO 80202

June 2–4, 2014CIRA PART 1: MANAGING TURNAROUND AND BANKRUPTCY CASES

8:30 am – 5:30 pm Monday, June 2 8:30 am – 5:30 pm Tuesday, June 3 8:30 am – 11:30 am Wednesday, June 4 (Exam)

TOPIC OUTLINE• Financial statement analysis of troubled companies• Causes of business failures• Profitability Improvements Including outsourcing• Turnarounds and workouts• Stages of the turnaround process• Operational/strategic issues• Dealing with creditors and their committees• Pre-bankruptcy planning• Managing bankruptcy cases• Special investigations including preferences and fraudulent transfers

ABOUT THE CIRA PROGRAMThe Certified Insolvency & Restructuring Advisor (CIRA) recognizes by public awareness and certification those individuals who possess a high degree of knowledge and proficiency across a spectrum of functions related to serving clients in situations involving distressed and/or insolvent entities. Such expertise includes accounting, operations, strategic, taxation and finance issues related to business bankruptcy and insolvency. Through successful completion of the three-part course of study and uniform written examination, candidates will achieve and demonstrate the proficiency necessary to:

• Render professional services for debtors, trustees, creditors’ committees, individual creditors or equity holders, and other interested parties in chapter 11 bankruptcy proceedings and out of court workouts

• Apply provisions in the Bankruptcy Code relevant to financial services performed• Categorize business failures according to underlying causes and recommended courses of action• Identify and take action for preferences and fraudulent transfer recovery• Prepare necessary financial information to be included in chapter 11 and out of court plans• Prepare applications for retention and petitions for fee allowance required in bankruptcy

proceedings • Prepare financial statements according to provisions of ASC-852• File operating reports required by the U.S. Trustee’s office• Identify tax issues that should be addressed in chapter 11 proceedings and out of court workouts

ABOUT THE CDBV PROGRAMThe Certification in Distressed Business Valuation (CDBV) is a unique certification program in valuation of distressed assets including distressed and/or bankrupt companies. In 2004, the Association of Insolvency and Restructuring Advisors launched the CDBV program to train and accredit professionals in this highly specialized area of business valuation. The CDBV program’s course of study is comprehensive and advanced. Through successful completion of the three-part course of study and comprehensive examinations, candidates will achieve and demonstrate the proficiency necessary to:

• Apply court decisions to the appropriate standards of value, premise of value and valuation methodology

• Properly adjust cash flows to capture the impact of distress/bankruptcy• Apply the adjusted present value method• Calculate and apply market multiples for distressed companies and/or distressed transactions• Estimate the cost of capital for distressed companies• Estimate reorganization value• Apply the asset approach for the liquidation analysis required in the disclosure statement• Determine solvency in preference and fraudulent conveyance issues• Assess the size of the equity cushion for adequate protection

For more information about the CIRA and CDBV certification programs, please visit www.AIRA.org.

Meeting Room:Lawrence A

Keynote Speakers

Mike O’Neal, J.D., President Emeritus, Oklahoma Christian UniversityA native Oklahoman, Mike received a BA in Accounting from Harding University and a JD at Stanford University. He earned a Bronze Star for meritorious service as a Navy Supply Officer in DaNang, Vietnam. His higher education experience includes Professor of Business at Harding; General Counsel, VP–Finance, and Vice Chancellor at Pepperdine University; President and President Emeritus at Oklahoma Christian University; and Chancellor at University of Rwanda. Scoring highest in Oklahoma on the 1969 CPA exam, he worked for Coopers & Lybrand, Touche, Ross & Co., and Ernst & Ernst.

Diane Barrett, Chief Projects Officer, City & County of DenverA lawyer for nearly twenty-five years, Diane Barrett practiced primarily in the areas of public finance and land use/development. Her practice emphasized financing public infrastructure for local governments and for private development projects. She was appointed Special Assistant for Transportation and Development by Mayor Hickenlooper in 2005, after retiring from the active practice of law and she was appointed Chief Projects Officer by Mayor Hancock in 2011. Ms. Barrett’s primary responsibility for Mayor Hickenlooper was to oversee the redevelopment of the Denver Union Station site into a multi-modal hub for Fastracks. In the Vidal administration and now in the Hancock administration her responsibilities have expanded. Her current portfolio comprises all development and redevelopment projects in Denver, including the region-wide FasTracks project and all related transit-oriented development.

Tom Binnings, Senior Partner, Summit EconomicsAfter working in the field of applied economics for 33 years, Mr. Binnings formed Summit Economics with four leading economists. As a researcher, he authored numerous studies on a wide range of topics in a number of industries. His work began with community, urban and regional economics and has expanded to include real estate and organizational economic analysis for strategic and tactical planning as well as process improvement. Mr. Binnings has facilitated discussions with and presented before boards, commissions, councils, citizen groups, and the state legislature.

Preconference

ConferenceThursday, June 5

Wednesday, June 4 7:30 – 8:30 am - Confluence Foyer

Continental Breakfast

8:30 am – 5:15 pm

Concurrent Session 1 - Confluence A

Bankruptcy TaxationCorporate Tax: COD income recognition provisions, Section 382 Regulations for small shareholders and Liquidation of Corporate Subsidiaries; Views from the Bench and Bankruptcy Code Tax Provisions; Individual Income Tax Discharge Considerations; Finding Money in Taxes: Value of Tax Attributes, Certain Tax Liens Avoidance & Subordination and Misc. Topics; Pre-Petition Tax Planning, Chapter 7 & 11 Individual Income Tax Planning and Compliance including NIIT, Foreclosures, Short Sales & Other Encumbered Asset Sales

Speakers:Donald R. Barg, CIRA, Barg & Henson PCAlan D. Barton, CIRA, KPMG LLPDennis Bean, CIRA, Bean Hunt Harris & CompanyElizabeth Berry, CIRA, Elizabeth C. Berry CPA PLLCJay D. Crom, CIRA, Bachecki, Crom & Co. LLPKimberly J. Lam, CIRA, Bachecki, Crom & Co. LLPRobert Liquerman, CPA, KPMG LLPRobert L. Nistendirk, CPA, Woomer, Nistendirk & Associates PLLCHon. Mark Wallace, U.S. Bankruptcy Court, C. D. Cal.

Concurrent Session 2 - Confluence B

Financial Advisors’ Toolbox Mechanics of mediation; Goals of mediation; Judicial mediation versus professional mediator; Mediation rules; Role of financial advisor in mediation; Best practices for financial advisors in mediation Financial advisors written and oral presentations to mediator

Speakers:Co-Chair - Leah Eisenberg, Esq., Arent Fox LLPCo-Chair - Brian Ryniker, CIRA, CBIZ MHM, LLCSteve Agran, CIRA, MorrisAndersonRichard Bernard, Esq., Foley & Lardner LLPColey Brown, CIRA, Huron Consulting Group

Jacqueline Calderin, Esq., Ehrenstein Charbonneau CalderinAndrea Fischer, Esq., Sadowski Fischer PLLCSusan Jacks, Esq., MehaffyWeber, P.C.Nicole Leibman, Esq., Aschettino Struhs LLPDavid MacGreevey, CIRA, Zolfo CooperBrett Moore, Esq., Porzio, Bromberg & Newman, P.C.Vincent Roldan, Esq., Vandenberg & Feliu, LLPMichael Schwarzmann, Crowe Horwath LLPAndrew Silfen, Esq., Arent Fox LLPScott Stuart, Donlin, Recano & CompanyHylton Wynick, Zucker Forensics

Concurrent Session 3 - Lawrence B

Financial Modeling

Morning Session - Introduction to Excel and Three Statement Forecasting

This session will introduce participants to the fundamentals of 3 statement modeling using Excel. Participants will learn how to forecast the 3 financial statements, balance a model and handle issues related to circularities.

Afternoon Session - Cash Sweep Modeling

This course provides a systematic approach to 3 statement cash sweep modeling. Practical uses of cash sweep models and Pillars’ 12 steps to building a 3 statement cash sweep operating model are reviewed in detail. Emphasis is placed on the complexities associated with a real company model.Speaker: Matthew Holaves, Pillars of Wall Street

12:00 – 1:45 pm - Augusta

Luncheon Program:Diane Barrett, Chief Projects Officer,

City and County of Denver

6:30 – 8:00 pm - Confluence Foyer

AIRA’s 30th Annual Conference Opening ReceptionSponsored by Conway MacKenzie, Inc.; Duane Morris LLP

7:30 – 8:30 am - Confluence FoyerContinental BreakfastSponsored by Arent Fox LLP

8:30 – 8:40 am - Confluence BallroomIntroductory RemarksAnthony V. Sasso, CIRA, AIRA President, Deloitte Financial Advisory Services LLP

8:40 – 9:30 amKeynote Presentation Mike O’Neal, J.D., President Emeritus, Oklahoma Christian University

Is Higher Education Learning Anything? Dangers to U.S. Institutions of Higher Education from Disruptive Challenges in the 21st CenturySponsored by RubinBrown, LLP; WeiserMazars LLP

Thursday, June 5, cont. Conference

ConferenceFriday, June 6

* SBMM – Sessions designed to examine issues for small business/middle-market.

9:30 – 10:45 am - Confluence BallroomRestructuring Outlook Andrew Ragsly, Debtwire (Moderator)Neil Augustine, RothschildBob Duffy, FTI Consulting, Inc.Gregg Galardi, Esq., DLA PiperHon. Barry Russell, U.S. Bankruptcy Court, C. D. Cal.

Perspectives of Industry Leaders: How have the approaches to financial restructuring recently changed, what are the key drivers of this evolutionand expectations of tomorrow’s trends.

10:45 – 11:00 am - Confluence FoyerMorning BreakSponsored by Bachecki, Crom & Co., LLP

11:00 – NoonConcurrent Session 1 - Confluence BallroomChina’s Economic Slowdown and Looming Debt Crisis Brent Carlson, CIRA, AlixPartners LLP (Moderator)Gary W. Riley, Recognized Expert in Asian and Chinese Business

How the economic, political and social issues in China impact doing business in China and how they affect the U.S. / buyers.

Concurrent Session 2 - Platte RiverLeading Through CrisisRandall Eisenberg, AlixPartners, LLP (Moderator)Debra Grassgreen, Esq., Pachulski Stang Ziehl & Jones LLPHon. Rosemary Gambardella, U.S. Bankruptcy Court, Dist. N.J.Mike Katzenstein, FTI Consulting, Inc. This panel will discuss the key considerations in

getting retained as CRO and leading toward a successful outcome as highlighted through war stories.

Noon – 5:30 pm Excursions (see page 10 and information sheet in registration envelope)

6:30 – 7:30 pm - Confluence Foyer Cocktail Reception

7:30 – 9:30 pm - Confluence Ballroom Annual Banquet and AwardsPresentation of Awards:

Manny Katten Award Winner:• Grant Stein, Esq., Alston & Bird, LLP

Zolfo Cooper/Randy Waits Award Winners:• Gold – Spence Shumway, CIRA, Stonebridge

Accounting & Forensics LLC• Silver – Patrick Fodale, Loughlin Management

Partners + Company • Bronze – Christopher Hanson, Navigant

Consulting, Inc.

Certificates of Distinguished Performance:• Michael Canale, CIRA, Canale Advisors• Sergei Chernyshov, ISE• Sarah Soong, CIRA, Hunt Consolidated, Inc. • Thomas Studebaker, CIRA, AlixPartners, LLP• Bradley Van Etten, Hays Financial Consulting

Awards sponsored by Zolfo CooperDinner sponsored by Capstone Advisory Group, LLC; Huron Consulting Group Inc.Wine sponsored by Bean Hunt Harris & Co.; D.R. Payne & Associates; KapilaMukamal, LLP; Lefoldt & Co., P.A.; MGI Repetti LLP

9:30 – 11:00 pm - Confluence Foyer Dessert ReceptionSponsored by Mesirow Financial Consulting, LLC; Protiviti, Inc.

7:30 – 8:30 am - Confluence Foyer Continental BreakfastSponsored by Bederson LLP

8:30 – 9:30 am Concurrent Session 1 - Confluence AB SBMM * - Social Media and ESI – Debtors and Creditors Beware!Martin Cauz, CIRA, Marotta Gund Budd & Dzera , LLC

(Moderator)Jason W. Gordon, Esq., Winston & Strawn LLPAmy McIlwain, Financial Social MediaSusan Usatine, Esq., Cole Schotz LLP

Do e-savvy bankruptcy professionals have a competitive advantage in this challenging economy? How can Twitter, LinkedIn, Facebook, Pinterest, Instagram, e-Discovery and information governance affect your business? This panel will

explore the benefits, risks and responsibilities of Social Media and Electronically Stored Information from the business, legal and privacy perspectives and review the practical do’s and don’ts of social media and ESI policies and practices.

Concurrent Session 2 - Confluence C Partnerships Tax IssuesNeil Goff, Esq., Brownstein Hyatt Farber Schreck LLP (Moderator)Dennis Bean, CIRA, Bean Hunt Harris & Co.Hon. Mark Wallace, U.S. Bankruptcy Court, C.D. Cal.

Tax issues that should be considered in the formulation and dissolution of partnerships.

ConferenceFriday, June 6, cont.

* SBMM – Sessions designed to examine issues for small business/middle-market.

9:30 – 10:30 am Concurrent Session 1 - Confluence AB Role of the Financial Advisor —Ponzi SchemesPeggy Hunt, Esq., Dorsey & Whitney (Moderator)Tom Neilson, Berkeley Research GroupHarvey Sender, Esq., Sender Wasserman Wadsworth, P.C.Ray Strong, CIRA, Berkeley Research Group

Financial advisors are often charged with liquidating Ponzi schemes or other criminal enterprises, or to defend against claims brought by a receiver or trustee of such an enterprise. This task typically involves records reconstruction and a determination of when the criminal enterprise began. This panel will discuss the logistics of detecting and proving the existence of a Ponzi scheme, including records reconstruction issues, as well as the identification of assets, most notably the legal claims that might arise against investors, third parties, professionals and even financial institutions.

Concurrent Session 2 - Confluence C Issues in Media RestructuringsCarlyn Taylor, CIRA, FTI Consulting, Inc. (Moderator)Ana Alfonso, Esq., Willkie Farr & Gallagher LLPHon. Kevin J. Carey, U.S. Bankruptcy Court, D. Del.Andrea Newborn, Readers Digest Association, Inc.Mace J. Rosenstein, Esq., Covington & Burling LLP

Commercial, regulatory and sector-specific topics which serve as recurring themes and challenges in media restructurings.

10:30 – 11:00 am - Confluence Foyer Morning BreakSponsored by PwC

11:00 am – 12:00 pm - Confluence AB Concurrent Session 1 SBMM * - Valuation Standards and Their Relevance to Court DecisionsDavid Payne, CIRA, CDBV, D.R. Payne & Associates (Moderator)Bruce Bingham, Capstone Valuation Services, LLCJeff Davine, Esq., Ballard SpahrHon. Michael Romero, U.S. Bankruptcy Court, D. Colo.

Court decisions can sometimes vary with generally accepted business valuation approaches and methodologies. This panel will identify and discuss some of those differences including how the AIRA Valuation Standards interact with various perspectives and rulings from the Bench. The panel will also discuss strategies attorneys and valuation experts can use to address judges’ concerns regarding issues of comparability, use of a single approach, use of hindsight and value of contingent and intangible assets.

Concurrent Session 2 - Confluence C Maximizing Business Value and Asset Recoveries

Caroline Fuller, Esq., Fairfield and Woods, P.C. (Moderator)Adam Dunayer, Houlihan LokeyRich Jenkins, Alvarez & Marsal Adam Reich, Reich Brothers LLC

This panel will discuss asset preservation, sale methodology and liquidation alternatives in and out of bankruptcy.

Noon – 1:30 pm - Augusta Luncheon ProgramTom Binnings, Summit Economics Sponsored by Greenberg Traurig, LLP; Young Conaway Stargatt & Taylor, LLP

1:30 – 2:30 pm Concurrent Session 1 - Confluence AB Un- and Under-Funded Pension LiabilitiesBrian Resnick, Esq., Davis Polk & Wardwell LLP (Moderator)

Greg Charleston, Conway MacKenzie, Inc.Daniel Lubell, Esq., Hughes Hubbard & Reed LLPLaura Rosenberg, CIRA, CDBV, FiduciaryCounselors

A discussion of how debtors may deal with pension liabilities in a chapter 11 filing.

Concurrent Session 2 - Confluence C Harvesting Value of Intellectual Property and Intangible Assets

David Schachter, Esq., Sherman & Howard (Moderator)Hon. Robert D. Drain, U.S. Bankruptcy Court, SDNYDavid Peress, HilcoJeremy Salesin, Intellectual Ventures

This panel will discuss strategies for preserving and maximizing the value of intellectual property and other intangible assets of companies in distress or bankruptcy from various perspectives, e.g., investors specializing in developing financing and investment structures; investors acquiring intellectual property licensed to third parties; and brokers specializing in monetizing intangible assets.

ConferenceFriday, June 6, cont.

* SBMM – Sessions designed to examine issues for small business/middle-market.

2:30 – 3:30 pm Concurrent Session 1 - Confluence AB SBMM * - How “Obama-Care” is Impacting Small BusinessesMichael Lane, CIRA, H2C LLC (Moderator)David Interdonato, CIRA, CDBV Morris AndersonSteven Rider, Esq., Markus Williams, Young & Zimmerman LLCCamisha Simmons, Esq., Norton Rose Fulbright

The Affordable Care Act will put additional regulatory and compliance pressures on small to medium size businesses as they meet the requirements of the legislation. In addition, it will divert scarce resources, both human and real capital to non-core business functions.

Concurrent Session 2 - Confluence C Restructuring Across JurisdictionsJack Williams, CIRA, CDBV, Mesirow Financial Consulting, LLC (Moderator)Mike Gearin, Esq., K&L GatesIvan Lehon, CIRA, Ernst & YoungSheila Smith, CIRA, Deloitte.

Key themes, trends and considerations in addressing cross border insolvencies.

3:30 – 4:00 pm - Confluence Foyer Afternoon Break

Sponsored by Berkeley Research Group

Friday Night Baseball Excursion Rockies v. Dodgers

Pregame Reception 6:00 pm—Game Start 6:40 pm

Start the summer off right with an evening at Coors Field to witness a battle between National League West rivals, the Colorado Rockies and the Los Angeles Dodgers! Mezzanine Party Suite 60 A & B is reserved for AIRA’s group—food, soft drinks and balcony seats included. Price: $120. Tickets may be purchased at the Conference Desk, subject to availability.

Saturday, June 7

* SBMM – Sessions designed to examine issues for small business/middle-market.

Friday, June 6, cont.4:00 – 5:00 pm Concurrent Session 1 - Confluence AB Restructurings in Bank Holding Companies

Shane Ramsey, Esq., Kilpatrick Townsend & Stockton LLP (Moderator) Van Durrer, Esq., Skadden, Arps, Slate, Meagher & Flom, LLP Christopher Hopkins, Keefe, Bruyette & WoodsDavid Miller, KPMG

Economic and accounting issues that should be considered in the restructuring of a bank holding company.

Concurrent Session 2 - Confluence C SBMM* - Pros and Cons of Bankruptcy, Receiverships and Assignments for the Benefit of CreditorsJohn C. Smiley, Esq., Lindquist & Vennum, LLP (Moderator)Lawrence R. Ahern III, Esq., Brown & AhernHon. Edward D. Bronfin, District Court for City and County of Denver, COC. Randel Lewis, Western Receiver, Trustee & Consulting Services, Ltd.Hon. Howard R. Tallman, U.S. Bankruptcy Court, Dist. Colo.

The days of just filing bankruptcy for a distressed business are over. Today, financial professionals need to be able to advise their clients on the advantages and disadvantages of bankruptcy, receiverships, and assignments for the benefit of creditors. Clients need to understand which course is best, and why. This panel will cover the topic for businesses and in mass fraud/Ponzi scheme cases.

8:00 – 8:30 am - Confluence Foyer Continental BreakfastSponsored by GlassRatner Advisory & Capital Group LLC

8:30 – 9:45 am - Confluence A SBMM* - Strategies Used by Lenders and Loan Servicers

Grant Stein, Esq., Alston & Bird LLP (Moderator)Jim Howard, GlassRatner Advisory & Capital Group LLCChris Lenhart, US BankKevin Semon, Midland Loan Services

Lenders and special servicers frequently encounter defaults by commercial borrowers in bankruptcy and consensual restructurings. This panel will discuss lender and servicer strategies to maximize recoveries. The panel will also explore the differences between lender and servicer perspectives.

9:45 – 10:00 am - Confluence Foyer Morning Break

10:00 – 11:15 am - Confluence A Case Management, Compensation and ReportingSteve Darr, CIRA, CDBV, Mesirow Financial Consulting, LLC (Moderator)Bill Harrington, U.S. Trustee Jim Lukenda, CIRA, Huron Consulting GroupJohn Monaghan, Esq., Holland & KnightNancy Peterman, Esq., Greenberg Traurig, LLP

A discussion of ways to effectively manage and control professional fees.

11:15 amConference Adjourns

SAVE THE DATE FOR UPCOMING AIRA CONFERENCES88th Annual National Conference of Bankruptcy Judges

October 8-11, 2014—Hyatt Regency Chicago

13th Annual Advanced Restructuring and POR ConferenceNovember 17, 2014—The Union League Club, New York

31st Annual Bankruptcy & Restructuring Conference

June 3-6, 2015—The Ritz-Carlton, Philadelphia

AIRA Grant Newton Educational Endowment Fund The Mission of the Fund is to further educational programs and funding of research focused on the areas of accounting, restructuring and insolvency including establishments of scholarships,

sponsorships and encouragement of research and educational forums. For contributions, fill out form in registration envelope, or go to www.aira.org//aira/endowment_fund

Excursions

Fly Casting Clinic  Fundamentally, fly fishing is the art of mimicking nature and fly casting. Join a two-part fly fishing program - first, an indoor fly fishing overview where you’ll learn about habitat, entomology, equipment and terminology. Next, you’ll go to City Park for a fly fishing casting clinic where you’ll be provided with a fly rod and professional instructors to learn basic fly casting techniques.The indoor overview is open to all conference participants.

Thursday, 12:15 pm Price: $100, including a boxed lunch for those participating in the outdoor casting clinic.

Golf at Fossil Trace   Fossil Trace Golf Club is one of Denver’s premier public golf courses designed by renowned golf course architect Jim Engh. Located in Golden, Fossil Trace is nestled adjacent to the foothills of the Rocky Mountain Front Range. The golf course opened in 2003, approximately 64-million years after the first dinosaurs walked where holes 11-15 now sit. Triceratops footprints and other prehistoric creatures’ fossils can be viewed adjacent to the 12th green. Dress code - see information sheet

Golf Sponsored by Deloitte CRG Drink Cart Sponsored by Burr & Forman Thursday, 12:30 pm Price: $120

Denver Microbrew Tour & TastingWith more microbreweries than any other state in the country, Colorado is a beer drinker’s delight! Known as the “Napa Valley of beer,” you’ll visit microbreweries and a tap room in downtown Denver where you’ll get the opportunity to see the unique malting and brewing process and enjoy beer samples. You’ll also learn interesting beer trivia. And who knows, maybe you’ll discover your new favorite brew on this tour!

Thursday, 1:15 pm Price: $50

Tour of Molly Brown House & Tea  Historic Denver’s Molly Brown House Museum is among the most visited historic sites in the state of Colorado, and one of only a handful of sites nationally dedicated to the interpretation of a woman’s story. Open for more than 43 years, the Museum serves nearly 50,000 people every year, including 10,000 youth. Enjoy a tour of the Museum, followed by a traditional High Tea.

Thursday, 1:30 pm Price: $50

For more details, see Excursion Information Sheet in Registration Envelope or ask at the Conference Desk

Registration

Name_______________________________________Badge Name _________________________________

Firm ________________________________________________________________________________

Address _____________________________________________________________________________

City __________________ State __________________________ Zip ________________________

Phone __________________________________ Fax _______________________________________

Email _______________________________________________________________________________

CPE Requested _________ CLE Requested ___________________ State ________________________

I am a: CIRA CDBV Member Non-Member Financial Advisor/CPA Attorney Investment Banker

Wednesday Preconference Seminar Only (includes lunch) $350 $350 $380 $380 $ ____________Wednesday Lunch Only $70 $70 $75 $75 $ ____________Conference Only (Wed. Opening Reception thru Saturday) $600* $675* $700* $775* $ ____________Conference & Wednesday Preconference Seminar $775* $850* $875* $950* $ ____________

*fee includes membership in AIRA thru 05/31/2015 for first time members only – a $295 value

US Trustees, Bankruptcy Judges and Staff: Preconference Seminar, $60; Conference, $125 $ ____________

After May 5 Member Non-Member

C. Guest Option Fees - Guest Names___________________________________ Wednesday Opening Reception Only (complete Part A)........................................ for _______ person(s) @ $50 = $ ____________ Thursday Reception, Banquet & Dessert Only (complete Part A).......................... for _______ person(s) @ $75 = $ ____________ Registrant’s Guest Package—Wed. Opening Reception; Thurs. Reception, Banquet & Dessert;

other conference meals (exclusively for guests accompanying Conference Registrants; complete Part A for Conference Registrant).............................................................................for _______ person(s) @ $125 = $ ____________

D. Excursion Fees - Guest Names___________________________________ Thursday Golf Outing (Handicap___________) ......................................................... for ________ person(s) @ $120 = $ ____________

Guest(s): Name___________Handicap___; Name___________Handicap___; Name___________Handicap___ Club rental available on site ($45) If interested, indicate number and gender: M_____F____ _hand: R_____L_____

Thursday Microbrew Tour ................................................................................................... for ________ person(s) @ $50 = $ ____________ Thursday Tour of Molly Brown House & Tea .................................................................. for ________ person(s) @ $50 = $ ____________ Thursday Fly Casting Clinic .................................................................................................. for ________ person(s) @ $100 = $ ____________ Friday Baseball Outing: Rockies v Dodgers ................................................................... for ________ person(s) @ $120 = $ ____________

Payment:

Visa Mastercard American Express Discover Check enclosed

Credit Card # ___________________________ Exp ______ Billing Zip ______Signature _________________________________________________________Cancellation/Refund Policy: Written cancellation for conference or any social activities must be received by Monday, May 5, 2014 for a full refund, less a $75 cancellation processing fee. Registrations will not be processed until payment is received. No refunds will be made after May 6, 2014, however, substitutions will be allowed. Financial Aid—AIRA has established a policy for assisting persons who need financial aid. To obtain information about and/or apply for financial aid, email Grant Newton at [email protected]

Total Charges $ ______________

A. Registrant Information

B. Registration Fees

For more information and registration, see www.AIRA.org.

CONFERENCE HOTEL

The Westin Denver Downtown1672 Lawrence Street, Denver, CO 80202

(888) 627-8435

SUBMIT COMPLETED FORM TO CONFERENCE DESK OR ONLINE AT AIRA.ORG

CPE

and

CLE

Cred

itsUp

to 8

hour

s of C

PE an

d 7 ho

urs o

f CLE

* cre

dit f

or p

reco

nfer

ence

se

min

ars

(Ban

krup

tcy

Taxa

tion;

Fin

ancia

l Adv

isors

’ Too

lbox

; Fin

ancia

l Mod

elin

g); u

p to

15

CPE

and

12 C

LE*

hour

s of c

redi

t fo

r th

e 30

th A

nnua

l Res

truc

turin

g Co

nfer

ence

; and

CIR

A pa

rticip

ants

may

rece

ive u

p to

24

hour

s of

CPE

cre

dit f

or P

art

1 of

the

CIRA

cou

rse,

in a

ccor

danc

e w

ith t

he s

tand

ards

of t

he

Natio

nal R

egist

ry o

f CPE

Spo

nsor

s. A

ll CP

E cr

edits

hav

e be

en

calcu

lated

bas

ed o

n a 5

0-m

inut

e ho

ur. A

ll CLE

cred

its h

ave

been

ca

lcula

ted

on a

60-

min

ute

hour

(how

ever

, som

e st

ates

aw

ard

cred

it ba

sed o

n a 50

min

ute h

our).

Fina

ncial

hard

ship

scho

larsh

ips

are

avai

labl

e. P

leas

e ap

ply

in w

ritin

g to

Gra

nt N

ewto

n at

gn

ewto

n@air

a.or

g. *A

ppro

val p

endi

ng fo

r som

e st

ates

.

The

Asso

ciatio

n of

Inso

lven

cy &

Res

truc

turin

g Adv

isors

(AIR

A)

Asso

ciat

ion

of In

solv

ency

and

Res

truc

turin

g Ad

viso

rs is

reg

ister

ed w

ith t

he N

atio

nal

Asso

ciat

ion

of S

tate

Boa

rds

of A

ccou

ntan

cy (

NAS

BA)

as a

spo

nsor

of

cont

inui

ng

prof

essi

onal

edu

catio

n on

the

Nat

iona

l Reg

istr

y of

CPE

Spo

nsor

s. S

tate

boa

rds

of

acco

unta

ncy

have

fina

l aut

horit

y on

the

acce

ptan

ce o

f ind

ivid

ual c

ours

es fo

r CPE

cre

dit.

Com

plai

nts

rega

rdin

g re

gist

ered

spo

nsor

s m

ay b

e ad

dres

sed

to t

he N

atio

nal R

egist

ry

of C

PE S

pons

ors,

150

Fou

rth

Aven

ue N

orth

, Sui

te 7

00, N

ashv

ille,

TN,

372

19-2

417.

W

ebsit

e: w

ww.

lear

ning

mar

ket.o

rg.

221

Stew

art A

venu

e, Su

ite 2

07M

edfo

rd, O

R 97

501

Phon

e: 5

41-8

58-1

665

| Fa

x: 5

41-8

58-9

187

aira

@ai

ra.o

rg |

ww

w.ai

ra.o

rg

AIR

AA

ssoc

iatio

n of

Inso

lven

cy &

Res

truc

turi

ng A

dvis

ors