Chicago Roundtable | Board Members & the Insolvent Companies Whose Boards They Serve

Chicago Roundtable | Board Members & the Insolvent Companies Whose Boards They Serve

When

Wednesday, March 15, 2017

12:00 PM to 1:30 PM

Tickets

$30.00 Founder Ticket

$30.00 Member Ticket

Directions

Sugar Felsenthal Grais & Hammer LLP

30 North LaSalle Street, Suite 3000

Chicago, IL 60602

OVERVIEW 

This intimate, members only roundtable will be a conversation about what directors of companies in financial distress need to understand, need to do, and need to not do. Topics will include:

• Basics of fiduciary duties (duties of care, loyalty; conflicts; business judgment rule)
• How duties can expand or shift to creditors as a company becomes less solvent
• The “Zone of Insolvency”
• Difference between corporations and limited liability companies
• Relying on advice of retained professionals
• Importance of process
• “Deepening Insolvency”
• Considerations in voting to authorize a company to file bankruptcy or similar remedies
• What if ownership is the problem?
• Practical strategies to minimize liability 

PANELISTS 

Ryan Blaine Bennett

Partner

Kirkland & Ellis LLP

Ryan Blaine Bennett is a partner in Kirkland & Ellis' Restructuring Group. Ryan focuses his practice on protecting and advancing the financial interests of corporate debtors and secured and unsecured creditors in the various transactional and litigation-related aspects of the debtor-creditor relationship. Chicago Daily Law Bulletin and The Chicago Lawyer named Ryan to the “40 Under Forty” for 2015, selecting Ryan among over 1,000 nominees across all practice areas in the State of Illinois. Law360 named Ryan as one of eight Bankruptcy “Rising Stars for 2014.” Turnarounds & Workouts named Ryan to the 2012 list of "Outstanding Young Restructuring Lawyers."

Lynda Davey

Chief Executive Officer

Avalon Securities Ltd.

Lynda Davey is Chairman of Avalon Securities Ltd, a FINRA and SEC registered broker dealer, which provides bulge bracket investment banking assistance to mid-market clients. Prior to founding Avalon, Lynda worked at Salomon Brothers and as President of Tribeca Corp, a merchant bank. Lynda has served as Chairman of the Board of Wet Seal, Inc. and as a board member and head of the Audit Committee for ICTS International NV. Lynda earned a B.S. from the University of Virginia, a Masters in Architecture from the University of Michigan and a MBA from the Harvard Business School. She holds Series 24, 27, 79 and 63 FINRA licenses and is recognized as a Governance Fellow by the NACD.

Scott A. Eisenberg

Partner and Co-founder

Amherst Partners

Scott Eisenberg, founder of Amherst Partners, regularly serves as Chief Restructuring Officer, court appointed Receiver, and Trustee for clients in a wide range of industries. He has worked on over 75 investment banking assignments and has advised more than 200 manufacturing, service, financial services and technology companies. Scott has also served as President of the Detroit Chapter of the Association for Corporate Growth and international board member; President of the Detroit Chapter and international board member of the Turnaround Management Association; President and board member of the Detroit Chapter of the Young Entrepreneur’s Organization; and President of the Southeastern Michigan Venture Group.

Jonathan P. Friedland

Partner

Sugar Felsenthal Grais & Hammer LLP

Jonathan Friedland is a corporate and restructuring partner with Sugar Felsenthal Grais & Hammer, resident in both its Chicago and New York offices. He represents private funds, private companies and their boards, and private lenders. He is also the founder of DailyDAC/Financial Poise. Jonathan graduated from the University of Pennsylvania Law School and more recently was a partner with Kirkland & Ellis and an Adjunct Professor of Strategic Management at the University of Chicago Booth School of Business. He is the principal author of Strategic Alternatives for and against Distressed Businesses, a 700+ page book published by West.