Thursday, September 26 | 2:00 - 3:00 p.m.
Center Street C | Sponsored by Candlewood Partners
ABC, Easy as 1,2,3:
ABCs vs. Bankruptcies vs. Article 9 vs. Receiverships
Bankruptcy provides debtors with important advantages for dealing with insolvency, but if bankruptcy is impractical or undesirable, alternatives such as ABCs, UCC Article 9 sales, and receiverships can often achieve similar results more quickly and with less expense. Our panel of experts will explore the opportunities and challenges offered by each approach, arming you with information to guide your clients.
1.0 CLE accredited in Delaware, Illinois, Ohio, Pennsylvania, and Texas. Other jurisdictions pending.
1.2 CPE credits in Business Law
Prerequisites: Basic knowledge of financial and operational restructuring
Who Should Attend: All restructuring professionals are welcome
Advanced Preparation: None
Program Level: Basic
Delivery Method: Group Live
Refunds and Cancellation: Notification of cancellation must be submitted via email to firstname.lastname@example.org. Phone cancellations are not accepted. Cancellations received on or before Monday, September 9 will be refunded less a $250 processing fee. Cancellations received after September 9 will not be refunded.Turnaround Management Association (TMA) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State Boards of Accountancy have the final authority on the acceptance of individual course for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
Geoff Berman, Development Specialists, Inc.
Eric Goldberg, DLA Piper
Steven Mitnick, SM Law, PC
Drew Parobek, Vorys, Sater, Seymour and Pease LLP
Amanda Vintevoghel, The Dragich Law Firm PLLC
Moderated by Diana Peterson, AW Properties Global
Geoff Berman, Senior Managing Director of DSI, joined DSI in 1997, is resident in our Los Angeles office and brings over 35 years’ experience in all types of insolvency case administrations with a special emphasis in the area of general assignments for the benefit of creditors and post confirmation estate management through liquidating and creditor trusts under confirmed Chapter 11 Plans of Reorganization.
Mr. Berman served as the President of the American Bankruptcy Institute from April 2011 to April 2012 and Chairman of the Board from April 2013 to April 2014. He also served as ABI’s Vice President of Publications, with oversight of the ABI Journal and other publication projects, and as a member of ABI’s Executive and Management Committees. He chaired the ABI Task Force on General Assignments and wrote the ABI manual on general assignments, The ABCs of ABCs, which is now in its third edition. He has served as contributing editor and co-Executive Editor to the American Bankruptcy Institute Journal and has authored a law review article on general assignments published in the ABI Law Review. Geoff served as an ex-officio member of ABI’s Commission to Study the Reform of Chapter 11 as well as an ex-officio member of ABI’s Ethics Task Force.
Mr. Berman, a certified mediator, is on the Bankruptcy Mediation Panel for the Central District of California as well as the Register of Mediators for the District of Delaware. He is a member of the Los Angeles and Bay Area (CA) Bankruptcy Forums, and AIRA. He speaks frequently on out-of-court and post-confirmation case administration issues.
Prior to joining DSI, Mr. Berman was with Credit Managers Association of California for 11 years, where he was the Manager of the Adjustment Bureau and a member of the Association’s senior management. Mr. Berman has previous experience with Union Bank (of California) and Mitsui Manufacturers Bank.
Eric Goldberg represents debtors both in and out of court, as well as creditors and other stakeholders, including lenders and funds, in a variety of transactions. His practice involves complex bankruptcy-related litigation, including contested confirmations, termination of collective bargaining agreements and all types of adversary proceedings. Eric also has extensive experience working with hedge funds, institutional lenders, bondholders and buyers of distressed assets.
Steven Mitnick, SM Law, PC
Steven Mitnick specializes in representing creditors and trustees in cases involving business insolvency, bankruptcy and liquidations. He also provides services in the areas of debt collection, assignments for benefit of creditors and receiverships. In practice since 1981, he has:
- Served as a Chapter 11 trustee, receiver, special fiscal agent, and assignee for the benefit of creditors in hundreds of cases.
- Led more than 200 wind-down proceedings for wide-ranging corporate entities and businesses.
- Recovered millions of dollars for creditors in cases that involve Chapter 11 and Chapter 7 bankruptcies, assignments for the benefit of creditors, state court receiverships, and out-of-court settlements.
Before founding SM Law, Steven was the founding principal of Mitnick & Malzberg, P.C., a boutique law firm that he founded in 1986. Steven also serves as Secretary of SM Financial Services Corporation, which invests in and manages the purchases of financial assets from trustees and others, especially judgments, notes, mortgages and preferences; as well as supervises the wind-downs of all forms of corporate entities. Steven is a sought-after lecturer on corporate liquidation topics, especially assignments for the benefit of creditors and state court receiverships, and he has authored related course materials.
Selected representative matters where Steven has served as counsel include:
- Component Technology – Served as Assignee for the Benefit of Creditors in the liquidation of a family-owned manufacturer of construction trusses. Millions of dollars were recovered and returned to creditors by liquidating the facility and commencing litigation to collect the accounts receivables and preferences.
- H. K. Buzby, Inc. – Served as Assignee for the Benefit of Creditors. After a successful auction sale and individual market sales of the Assignor’s real estate assets and litigation to collect the outstanding accounts receivables and preferences, millions of dollars were paid to the Secured Creditor.
- Quay Caterers and RMD Marina – Appointed as counsel to the Statutory Receiver pertaining to real estate and a marina in New Jersey. Orchestrated an auction sale of both the real estate and marina business. After dealing with issues pertaining to riparian rights and several challenging real estate issues, consummated the sale of assets which paid the first mortgage in full and made it possible to make significant payments to subordinate liens.
- Chain of Gas Stations – Served as Assignee for the Benefit of Creditors requiring the assignee to deal with a host of lease and assignment issues including negotiation with a series of landlords and a review of several bank transactions and agreements.
- Mental Health Care Facility – Served as Assignee for a New York-based health facility which required the liquidation of its real estate and other assets involving sales and abandonment issues.
- Furniture Retailer – Served as Assignee for a Delaware-based retailer involving the liquidation of inventory and conclusion of the business in the Chancery Court.
- DBSI Inc. – Represented the Trustee for this large Delaware bankruptcy case; prosecuting approximately 900 preference actions throughout the country including dealing with several out-of-state co-counsels.
- The Fleer Company – Represented the Assignee for this ABC matter; involving the liquidation of the legendary sports card company including over 100 preference actions against sports heroes and other individuals.
Drew Parobek, Vorys, Sater, Seymour and Pease LLP
Drew is a partner in the Vorys Cleveland office and a member of the finance, energy and real estate group. He is the firm-wide chair of Vorys’ bankruptcy and restructuring practice. Drew focuses his practice in the areas of bankruptcy, restructuring and workouts, commercial finance, commercial transactions and business law, with a strong emphasis on the representation of banks and other financial institutions. He has considerable experience and expertise in complex bankruptcy cases, reorganizations and restructurings, creditors’ rights, commercial lending, asset-based lending, secured transactions, the Uniform Commercial Code, collections, foreclosures, and liquidations. Career highlights include:
- Representing lending institutions, landlords, creditors’ committees and other creditors in a number of major bankruptcy cases for a variety of corporations, including those in the energy, manufacturing, retail, health care, high tech, automotive, and food industries
- Representing national, regional, local and community banks in a wide variety of commercial and industrial and real estate restructurings and workouts and lending transactions
Drew is a member of the Ohio State Bar Association, the Cleveland Metropolitan Bar Association, and the Turnaround Management Association. Drew has spoken to the Cleveland Bar Association, the William J. O’Neill Great Lakes Regional Bankruptcy Institute, the Ohio State Bar Association CLE Institute, the Turnaround Management Association, the Risk Management Association, and other legal and professional groups on a variety of topics including bankruptcy law, commercial transactions and alternatives to bankruptcy. Drew received his J.D. from Vanderbilt University Law School, where he was the associate editor of the Vanderbilt University Law Review. He received his B.A. summa cum laude from Vanderbilt University and was a member of Phi Beta Kappa. Drew clerked for the Honorable J. Craig Wright of the Supreme Court of Ohio.
Amanda is an attorney at The Dragich Law Firm PLLC, a boutique law firm in Grosse Pointe, Michigan. The Dragich Law Firm helps businesses navigate the day-to-day challenges and intricacies inherent in their operations, with a specialized focus on corporate restructuring. Amanda represents debtors, creditors, trustees, receivers and other third party fiduciaries in a wide variety of bankruptcy and insolvency proceedings. Currently, among other engagements, Amanda represents the federal court-appointed receiver of a Tier 1 automotive supplier in the Eastern District of Michigan and is involved in multiple receivership matters throughout the country. Amanda has also represented several debtors in chapter 11 proceedings in a variety of industries in Michigan and Delaware.
Amanda is very active in the Detroit TMA Chapter, where she is currently serving as the Chapter President. Over the past several years, she has also actively participated in planning the TMA Mid-America Regional Conference, serving as co-chair for the 2019 conference. In 2018, Amanda received the 2018 TMA Detroit Chapter “Top of the Class” award. The award is given bi-annually to professionals who have reached a significant level of success in the turnaround and restructuring industry before the age of 40. Amanda has also been named a Michigan Super Lawyers Rising Star in 2018 and 2019.
In her spare time, Amanda still competes as a long-distance runner. Since the start of her legal career, Amanda has won three full or half marathons and is a two-time Boston Marathon qualifier, which she ran in 2015. Amanda is also very active in the Grosse Pointe/Harper Woods Special Olympics program, and is entering her seventh season as a volunteer basketball and bowling coach.
Diana Peterson, AW Properties Global
Diana M. Peterson, President and CEO of AW Properties Global (AW), has 20+ years of experience in law, real estate brokerage and auctions.
Prior to founding AW, Peterson co-founded AuctionWorks, an online real estate auction platform. Peterson build the auction platform for AuctionWorks utilizing her prior auction expertise and her experience founding and operating a real estate brokerage, PMD Realty, LLC, for over a decade.
In 2001, seeing an opportunity to provide homeowners an alternative disposition strategy, Peterson established PMD Realty. As a result, PMD Realty quickly became the leading local provider of flat-fee MLS listing services, dominating the emerging flat-fee market for several years. During that time, Peterson was recognized by the Chicago Association of Realtors as one of the top 5 producing real estate brokers, having closed +$130M in residential sales and negotiated +500,000 SF of commercial lease and sale transactions.
Prior to starting PMD Realty, Peterson worked for U.S. Equities Realty and JLL providing strategic planning and tenant representation services to office tenants nationwide.
In addition to her client-focused philosophy, Peterson is known for her exceptional negotiation and legal skills, honed during years of practice as an attorney with D'Ancona & Pflaum and Hedlund Hanley & John. Peterson draws on these experiences in upholding her commitment to provide only the highest level of service to her clients.
Peterson earned a law degree from the University of Minnesota Law School, where she served as an editor of the Minnesota Law Review, and before that, acquired a Bachelor of Arts (with honors) from the University of Chicago. Apart from her Illinois law license, she holds an Illinois real estate managing broker's license and an Illinois auction license.
Frequently quoted in the news, Peterson has been featured in DS News, GlobeSt.com, Crain's, Illinois Real Estate Journal, Real Estate Executive magazine and many other publications. Peterson is often engaged as a speaker at real estate conferences as well.
Peterson is a member of Turnaround Management Association (TMA), American Bankruptcy Institute (ABI), International Women's Insolvency & Restructuring Confederation (IWIRC), Illinois CCIM Chapter, Chicago Association of Realtors (CAR), National Association of Realtors (NAR) and the National Auctioneers Association (NAA).
Active in the community, Peterson devotes time to serving on local non-profit boards. Peterson currently serves on the board of Northwestern University Settlement House and recently served on the boards of True Mentors, The Goldie B. Wolfe Miller Women Leaders in Real Estate Initiative, The Auxiliary Board of the Art Institute of Chicago, PAWS Chicago, The Poetry Center of Chicago, and The Young Leaders Fund of the Chicago Community Trust.