Issues in DIP Financing

Sponsored by:



Contested Issues in DIP Financing in the Uncertain World of Our New Normal
Tuesday, September 29, 2:00 p.m. - 3:00 p.m.
1.0 CLE credit / 1.2 CPE credits in Finance / 1.2 CEUs available
CLE has been accredited in Delaware and Pennsylvania. Additional jurisdictions pending.

Show me the money, but beware that it may come at a price. Learn about the problems and pitfalls that lenders, unsecured creditors, and other parties pose in the quest to finance a turnaround. Learn more about stub rent, reclamation and 503(b)(9) claims, roll ups, prepayment premiums, make-wholes on prepetition debt, and other issues that commonly arise in debtor-in-possession financing transactions.

Speakers:
Cheryl CarnerCrystal Financial (TMA New York City & TMA Northeast)
Scott Gautier, Robins Kaplan LLP (TMA Southern California)
Neil GuptaSSG Capital Advisors, LLC (TMA Philadelphia/Wilmington)
Douglas Rosner, moderator, Goulston & Storrs PC (TMA Northeast)
Sandra VrejanMorgan, Lewis & Bockius LLP (TMA Northeast)
 

TMA MEMBERS ONLY: find more resources about DIP financing on TMA Learning Link™.


About the Speakers:



Cheryl Carner
Cheryl Carner is a results-driven professional with over 25 years of corporate finance experience. She is well versed in the debt capital markets and her expertise in structuring complex debt financings for middle marketing companies has provided her clients with solutions that generate immediate benefits in terms of providing incremental liquidity, growth capital, or reducing the cost of capital. Cheryl is currently a Senior Managing Director and Head of Originations at Crystal Financial a non-bank direct private credit provider with $600 million in AUM. In her role she is responsible for business development and marketing strategy and is a member of the firm’s investment committee.. Since joining in 2011, she has sourced, structured and underwritten over $600 million of debt financings. Prior to Crystal, Cheryl was a SVP at GE Franchise Finance focused on the financing needs of private equity backed companies in the restaurant industry. As a Managing Director at CapitalSource she led the Retail & Consumer specialty lending team. Her career began in the asset-based lending sector at Fleet Retail Finance. She received her MBA at the F. W. Olin Graduate School of Business at Babson College and her BBA at the University of Massachusetts at Amherst.
Scott Gautier, Robins Kaplan LLP
Scott Gautier
Scott Gautier is the chair of the Corporate Restructuring and Bankruptcy Group at Robins Kaplan LLP where he heads a national corporate restructuring practice representing corporate debtors, creditors, committees, equity holders and acquirers in distressed financial situations with the goal of creating and structuring transactions that maximize value for his clients.  Mr. Gautier counsels clients on all facets of corporate insolvency and handles corporate assignments, bankruptcy cases, out-of-court restructuring matters, distressed mergers, acquisitions, and debtor-creditor issues in non-bankruptcy matters.

Mr. Gautier has represented all constituents in corporate restructuring, but his current practice focuses primarily on counseling owners and fiduciaries for small and mid-size business concerns and serving as lead Committee counsel in corporate chapter 11 cases.  He is highly sought after as a speaker and commentator with respect to corporate insolvency, restructuring and bankruptcy issues for professional and industry organizations.  He currently serves as President of the Turnaround Management Association Southern California chapter and Secretary of the Financial Lawyers Conference and previously served two distinguished terms as a national director of the American Bankruptcy Institute.



Neil Gupta
Neil Gupta is a Managing Director at SSG Capital Advisors. Neil works with investment banking clients on a wide range of special situations transactions, including mergers and acquisitions, divestitures, recapitalizations and private placements of both senior and subordinated debt and equity. His responsibilities include buyer and investor relationship management, strategic advisory and overall management of the deal process. Prior to joining SSG, he advised the U.S. Treasury on its investment in the Troubled Asset Relief Program (TARP) as a research analyst at Piedmont Investment Advisors. He also worked as a consulting actuary in the group benefits and health care practice at Watson Wyatt Worldwide.

Past client engagements include publicly traded, privately held, private equity sponsored and family owned businesses across a broad range of industries. Neil is a CFA Charterholder and holds a Certification in Distressed Business Valuation (CDBV). He is a member of the American Bankruptcy Institute, the Association for Corporate Growth and the Turnaround Management Association. He also serves on the Board of Directors of the Philadelphia Chapter of the TMA and the Board of Directors for the Consumer Bankruptcy Assistance Project.


Doug Rosner
Doug Rosner is a bankruptcy and restructuring attorney who represents clients throughout the country and internationally. He counsels corporate debtors, unsecured creditors and creditors’ committees, lenders, landlords, asset purchasers and trustees. Doug handles a wide range of bankruptcy matters including complex Chapter 11 reorganizations, Chapter 7 liquidations, workouts and related litigation and transactions.

Chambers USA recognizes Doug as “one of the superstars in the bankruptcy arena . . . who can ‘balance the legal and business aspects, marry them together and find easy, workable solutions.’" Additionally, Doug counsels lenders and borrowers in corporate and real estate financing transactions and out-of-court workouts, including asset-backed securitizations, inter-creditor agreements, factoring arrangements and asset-based loans.

Doug graduated cum laude from Brandeis University in 1988 and cum laude from Boston College Law School in 1991.
Sandra Vrejan, Morgan, Lewis & Bockius LLP
Sandra Vrejan
Sandra Vrejan represents borrowers and lenders in complex multinational finance transactions and financial restructurings. Her diverse client base includes financial institutions, specialty finance companies, investment funds, and public and private companies in many industries. She advises these clients in transactions involving multiple tiers of debt capitalization requiring complex intercreditor arrangements, syndicated leveraged transactions in asset-based and cash flow contexts, acquisition financings, and debtor-in-possession and exit financings. Sandra has also previously served as hiring partner for Morgan Lewis’s Boston office.

ConferenceAgenda

Agenda subject to change - all times in CDT
 

Tuesday, September 29, 2020  
8:00 a.m. - 11:30 a.m. 

Morning Coffee Shop Chat Rooms

Sponsored by MACCO Restructuring Group, LLC

8:45 a.m. - 9:00 a.m. Daily Announcements 
9:00 a.m. - 9:30 a.m.

Guided Meditation Class

Sponsored by Ritchie Bros

9:00 a.m. - 10:00 a.m.

Opening Session: Mega Trends 3.0               

Sponsored by Saul Ewing Arnstein & Lehr LLP

10:00 a.m. - 10:20 a.m.  VIP Access with Mega Trends 3.0 Panelists
10:30 a.m. - 11:30 a.m. 

TMA NOW Event 

Sponsored by AlixPartners, LLP

12:30 p.m. - 1:30 p.m.

General Session: Options! Options! Options! Alternatives to Bankruptcy       

Sponsored by Sherwood Partners, Inc.

12:30 p.m. - 3:30 p.m. 

Re-Energized Afternoon Coffee Shop Chat Rooms

Sponsored by MACCO Restructuring Group, LLC

1:30 p.m. - 1:50 p.m.  VIP Access with Options! Options! Options! Alternatives to Bankruptcy panelists 
2:00 p.m. - 3:00 p.m.

Education Session: Contested Issues in DIP Financing in the Uncertain World of Our New Normal

Sponsored by Riemer & Braunstein LLP

2:00 p.m. - 3:00 p.m.

Education Session: Managing Chaos in the Era of Loan Defaults: What Lenders and Borrowers Need to Know

Sponsored by McCarter & English, LLP

4:00 p.m. - 7:00 p.m. 

Spiked Coffee Shop Chat Rooms

Sponsored by MACCO Restructuring Group, LLC

4:00 p.m. - 5:00 p.m.  TMA 101: First-Timers and New Members Event 
5:00 p.m. - 6:00 p.m. 

Education Session: The Dark Days and Nights for the Sports Industry

Sponsored by FTI Consulting, Inc.

5:00 p.m. - 6:00 p.m.

Education Session: Beyond the Transaction: Stories of Post-Merger Integrations

Sponsored by CohnReznick LLP

6:00 p.m. - 7:00 p.m. 

TMA Variety Show 

Sponsored by Ritchie Bros

Wednesday, September 30, 2020  
8:00 a.m. - 8:30 a.m. 

Turnaround Yoga Class 

Sponsored by Ritchie Bros

8:00 a.m. - 11:30 a.m. 

Morning Coffee Shop Chat Rooms 

Sponsored by Newpoint Advisors Corporation

8:45 a.m. - 9:00 a.m. Daily Announcements 
9:00 a.m. - 10:00 a.m.

General Session: They Might Be Giants: The Titans of Today and Their Lessons from Along the Way

Sponsored by Hilco Global

10:00 a.m. - 10:20 a.m.  VIP Access with They Might Be Giants: The Titans of Today and Their Lessons from Along the Way panelists 
10:30 a.m. - 11:30 a.m. 

TMA NextGen Event 

Sponsored by Arch + Beam

12:30 p.m. - 1:10 p.m.

Keynote: Mariana Mazzucato: Never Waste a Crisis: Rethinking Capitalism During COVID-19

Sponsored by Gordon Brothers

12:30 p.m. - 3:00 p.m.

Re-Energized Afternoon Coffee Shop Chat Rooms

Sponsored by Newpoint Advisors Corporation

1:10 p.m. - 1:30 p.m.  VIP Access with Keynote Speaker 
2:00 p.m. - 3:00 p.m.

Education Session: Figuring Out Retail: What Was Already Bad Just Got a Lot Worse

Sponsored by Hilco Global

2:00 p.m. - 3:00 p.m.

Education Session: The Impact of COVID-19 on Higher Education: A Schism of Debt, Endowments, and Educational Challenges, Too

Sponsored by Alvarez & Marsal

4:00 p.m. - 5:00 p.m. 

TMA Awards Celebration: "Better Together Roundtable"

Sponsored by Ritchie Bros

4:00 p.m. - 7:00 p.m. 

Spiked Coffee Shop Chat Rooms

Sponsored by Newpoint Advisors Corporation

5:00 p.m. - 6:00 p.m. 

The Business IMPACT of Diversity and Inclusion: Strategic Conversation Workshop

Sponsored by Burford Capital

6:00 p.m. - 6:20 p.m. VIP Access with Diversity and Inclusion Workshop panelists 
6:00 p.m. - 7:00 p.m.  TMA Family Feud
Thursday, October 1, 2020  
8:00 a.m. - 11:30 a.m. 

Morning Coffee Shop Chat Rooms 

Sponsored by Gulf Coast Business Credit

8:45 a.m. - 9:00 a.m. Daily Announcements 
9:00 a.m. - 9:30 a.m. 

Impact Fitness Class 

Sponsored by Ritchie Bros

9:00 a.m. - 10:00 a.m.

Keynote: Duncan Wardle, Innovation & Creativity in a Virtual World

Sponsored by Burr & Forman, LLP

10:00 a.m. - 10:20 a.m.  VIP Access with Keynote Speaker Duncan Wardle 
10:30 a.m. - 11:30 a.m. 

TMA Talks: International 

Sponsored by Deloitte

12:30 p.m. - 1:30 p.m.

General Session: Will the Patient Survive? The Healthcare Industry in a COVID-19 World

Sponsored by Carl Marks Advisors

12:30 p.m. - 3:00 p.m. 

Re-Energized Afternoon Coffee Shop Chat Rooms

Sponsored by Gulf Coast Business Credit

1:30 p.m. - 1:50 p.m. VIP Access with Will the Patient Survive? The Healthcare Industry in a COVID-19 World panelists 
2:00 p.m. - 3:00 p.m.

Education Session: Intentions in Retention: Ethical Considerations When Being Retained in Bankruptcy Cases     

Sponsored by SM Financial Services Corporation

2:00 p.m. - 3:00 p.m. 

Education Session: Market Liquidity and Impact

Sponsored by Deloitte

3:30 p.m. - 4:00 p.m.  VIP Access 
4:00 p.m. - 7:00 p.m. 

Spiked Coffee Shop Chat Rooms

Sponsored by Gulf Coast Business Credit

4:00 p.m. - 5:30 p.m. 

Virtual Capital Connection + Networking Event

Sponsored by Duff & Phelps, LLC and Getzler Henrich & Associates LLC

5:30 p.m. - 6:30 p.m. 

TMA 'Big Tent' Celebration

Sponsored by Ritchie Bros