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Hot Topics in Advanced Restructuring


Level: Advanced
Runtime: 57 minutes
Recorded Date: September 13, 2017
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Agenda


  • Proceedings in the Jevic Bankruptcy Court
  • The Settlement and Structured Dismissal
  • The Parties' Settlement Positions
  • The Post-Settlement Outcome
  • The Bankruptcy Court's Decision
  • The Interim Appeals
  • What is "Structured Dismissal"?
  • The SCOTUS Decision
  • Paying the Price for Consensus
Runtime: 57 minutes
Recorded: September 13, 2017

Description

This panel will discuss some of the latest issues and recent decisions arising in mid-sized to large cases, including the sale of assets, plan confirmation issues, the appointment of multiple committees and case dismissal.

This program was recorded on September 13th, 2017.

Provided By

American Bankruptcy Institute
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Panelists

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Jeffrey J. Stegenga

Managing Director
Alvarez & Marsal

Jeffery J. (“Jeff”) Stegenga, a Managing Director, leads A&M’s North American Commercial Restructuring practice. He currently maintains his primary location in A&M's Dallas office. Mr. Stegenga is nationally regarded as a specialist in Chapter 11 restructuring and distressed financial consulting. Over the last decade, he has worked almost exclusively on large, complex company-side engagements in a wide variety of industries. Some of his notable client assignments include Seadrill, Magnum Hunter, Penn Virginia, Southcross, Sandridge, Energy Future Holdings, Hawker Beechcraft, Blockbuster, Visteon, Lear Automotive, Masonite, SIRVA, Vertis Communications, Dow Corning, Harnischfeger Industries, Federal-Mogul, Fleming Foods, McDermott International / Babcock & Wilcox, Tower Automotive and Meridian Automotive.

Prior to joining A&M, Mr. Stegenga was a Senior Managing Director with the Corporate Finance & Restructuring practice of FTI Consulting. Before joining FTI, he was a partner within PwC’s restructuring practice in both Denver and Dallas.

Mr. Stegenga is a graduate in accountancy from Arizona State University. He is currently a Certified Insolvency and Reorganization Advisor (CIRA), a member of the Turnaround Management Association (TMA) and American Bankruptcy Institute (ABI) and a fellow in the American College of Bankruptcy. Mr. Stegenga contributed to the editing process of certain chapters of two widely used restructuring industry textbooks, and participated on a committee that proposed changes to the American Institute of Certified Public Accountants (AICPA) regarding guidelines for companies operating under Chapter 11 protection.

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Marc Kieselstein

Partner
Kirkland & Ellis LLP

Marc Kieselstein has extensive experience in complex corporate restructurings, representing debtors and creditors in all aspects of the insolvency practice, including Chapter 11 reorganizations, out-of-court workouts, sales of financially distressed companies, distressed debt transactions and Section 363 asset sales and purchases.

Marc has been featured in Chambers USA, America’s Leadings Lawyers for Business every year since 2004. Most recently, in the 2017 edition, Marc was praised for his "incredibly strong mind" and "authoritative approach.” Prior editions of Chambers USA have described him as "star player," "an extraordinarily seasoned bankruptcy lawyer," and a "magnificent, excellent lawyer." Marc has also been recognized by Chambers Global every year since 2013. He was listed as a leading lawyer in Insolvency and Restructuring in the 2006–2009 editions of the International Financial Law Review 1000: Guide to the World's Leading Financial Law Firms. Prior to relocating to Chicago in 2013, Marc was listed in the 2011 and 2012 editions of New York Super Lawyers. In March 2018, Marc was inducted as a Fellow of the 29th Class of the American College of Bankruptcy.

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Timothy Coleman

Partner
PJT Partners, Inc.

Tim Coleman is a Partner and Global Chairman of the Restructuring and Special Situations Group at PJT Partners, a public spin-off from The Blackstone Group. Prior to the spin-off, Mr. Coleman worked for 23 years at Blackstone serving as a Senior Managing Director and Head of the Restructuring & Reorganization Group. Mr. Coleman has worked on a variety of restructuring and special situation assignments for companies, municipalities, creditor groups, special committees of corporate boards, corporate parents of troubled companies and acquirers of distressed assets.

The International Financing Review recognized Mr. Coleman’s efforts in the restructurings of Credit-Based Asset Servicing and Securitization LLC (“C-BASS”) and Ford Motor Company by naming them Restructuring of the Year in 2008 and 2009, respectively, by naming Blackstone Global Restructuring Adviser of the Year in 2012 and by naming PJT Global Restructuring Adviser of the Year in 2016. Mr. Coleman was named Global Investment Banker of the Year in 2011 by the Turnaround Atlas Awards. In 2013, he was inducted into the Turnaround Restructuring and Distressed Investing Industry Hall of Fame by the Turnaround Management Association. In 2014, Mr. Coleman received the Turnaround Leadership Award from the M&A Advisor.

Mr. Coleman has been a frequent guest lecturer at Columbia University and NYU Stern Business Schools. He is a member of the The Future Project Board of Directors, the Tina’s Wish Board of Directors, the Board of Leaders of the Marshall School of Business at the University of Southern California and the Yale New Haven Children’s Hospital Council.

Examples of Mr. Coleman’s public assignments include Arch Coal, AT&T and [email protected], Bear Stearns Asset Management, Cable & Wireless Holdings, C-BASS, Delta Air Lines, Detroit, Energy XXI, FGIC, FLAG Telecom, Ford Motor Company, Genco, Guangdong Enterprises, Halc?n Resources, Kaupthing (Iceland), Los Angeles Dodgers, MBIA (Re: BofA, Detroit and Rescap), Mirant Corp., Mohegan Sun, Philadelphia Energy, Quad/Graphics, R.H. Macy & Co., Roust Trading (Re: CEDC), Travelport, The Weinstein Company, Westinghouse, Williams Communications, Xerox Corporation and XL Capital.

Mr. Coleman received a BA from the University of California at Santa Barbara and an MBA from the University of Southern California.

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Hon. Christopher S. Sontchi

Judge
U.S. Bankruptcy Court, District of Delaware

Christopher S. Sontchi is a judge on the Delaware Bankruptcy Court. He was appointed in 2006 and his current term will expire in 2020.

Sontchi served as a law clerk to Hon. Joseph T. Walsh in the Delaware Supreme Court. He was a member of the law firm of Ashby & Geddes, PA, where he represented a wide variety of nationally-based enterprises with diverse interests in most of the larger chapter 11 reorganization proceedings filed in Delaware.

Judge Sontchi obtained his Bachelor of Arts Phi Beta Kappa with distinction in political science from the University of North Carolina at Chapel Hill. Later he earned his J.D. at the University of Chicago. Sontchi is also a Lecturer in Law at the University of Chicago Law School and an Adjunct Professor of Law at Widener University in Wilmington, Delaware.


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