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Are Hedge Funds and Private Equity Firms Different Than Other Case Parties?


Level: Advanced
Runtime: 55 minutes
Recorded Date: April 11, 2019
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Agenda


  • Hedge Funds and Private Equity Firms
  • Common Hedge Funds Strategies in Bankruptcies and Out of Court Restructurings
  • Private Equity Sponsors in Bankruptcies and Restructurings
  • Hedge Funds and Private Equity Firms vs Other Types of Creditors
  • Effects of Hedge Fund and private Equity Involvement in the Restructuring Process
  • Key Policy Questions
Runtime: 55 minutes
Recorded: April 11, 2019

Description

This panel, comprised of investment bankers, lawyers and principals of hedge funds, explores whether, when and how the goals and strategies of hedge funds and private-equity funds in chapter 11 cases differ from those of other creditors, including banks, insurance companies, trade creditors, unions and governmental agencies.

This program was recorded as part of ABI's Annual Spring Meeting on April 11th, 2019.

Provided By

American Bankruptcy Institute
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Panelists

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Eli J. Vonnegut

Partner
David Polk & Wardwell LLP

Mr. Vonnegut is a partner in Davis Polk’s Restructuring Group. He represents creditors, debtors, agent banks, hedge funds, lenders, bondholders and other strategic parties in a range of corporate restructurings, financing transactions, bankruptcy litigation, asset sales and acquisitions, as well as advisory matters relating to investments in complex distressed businesses. He also advises numerous financial institutions including all eight of the U.S.’s global systemically important banking groups (G-SIBs) and trade groups in connection with Dodd-Frank Resolution Planning.

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Brent Herlihy

Vice President, Restructuring
PJT Partners, Inc.

Brent Herlihy is the Vice President of Restructuring at PJT Partners, Inc.

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David M. Dunn

Managing Partner
Cross Sound Management LLC

David Dunn is Managing Partner, co-Chief Investment Officer and co-founder of Cross Sound Management LLC.

Prior to co-founding Cross Sound in April 2016, David was a senior investment professional at Arrowgrass Capital Partners, from December 2010 to April 2016, where he was responsible for many of the firm’s distressed and stressed credit investments. Prior to Arrowgrass, David was Counsel at Akin Gump Strauss Hauer & Feld LLP (2006-2010) in the Financial Restructuring Group, responsible for many of the firm’s Ad Hoc and Official Creditors’ Committee engagements. David served as an Associate at Sidley Austin LLP (2004-2006) in the bankruptcy group, working on the firm’s representation of Chapter 11 debtors and large creditors in several large bankruptcy cases. From 2002-2004, David started his career as an Associate at Greenberg Traurig LLP in the Restructuring Group, focusing on the firm’s roles representing several Chapter 11 debtors and Official Creditors’ Committees. David currently serves on the Board of Directors for Amplify Energy and the advisory boards of the LyondellBasell and RadioShack Liquidating Trusts.

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James R. Savin

Partner
Akin Gump Strauss Hauer & Feld LLP

James Savin is a Partner at Akim Gump Strauss Hauer & Feld LLP. His practice focuses on corporate restructurings and bankruptcy law with an emphasis on official and informal creditor groups. He has more than 20 years of experience advising on contentious and non-contentious restructuring matters in a range of industries.

James represents official and informal committees of creditors (secured and unsecured), debtors, debtor-in-possession lenders and acquirers of businesses and assets in large, complex Chapter 11 cases and out-of-court restructurings. His restructuring matters encompass a wide variety of industries and often involve multijurisdictional and cross-border issues.

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Mark P. Kronfeld

Managing Director
Tennenbaum Capital Partners, LLC

Mr. Mark Kronfeld is a Managing Director of Tennenbaum Capital Partners, LLC.

Prior to joining TCP, Mr. Kronfeld was a Partner at Plymouth Lane Capital Management where he ran the firm’s distressed and special situations investment strategy, with a primary focus on legal, structural, and process value-drivers and investor activism. Prior to Plymouth Lane, Mark was a managing director at BlueMountain Capital, a partner at Owl Creek Asset Management and, before that, a senior analyst at Aurelius Capital Management.

Prior to his career in finance, Mark practiced law for over ten years as a litigator and bankruptcy lawyer. Mr. Kronfeld serves as an independent director on the board of Reorg Research, Inc.


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