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Emerging SPAC Trends and Other Creative Financing Structures


Level: Advanced
Runtime: 57 minutes
Recorded Date: August 05, 2021
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Agenda

• What are SPACs?
        - Mechanics of SPAC Transactions
        - Risks of SPAC Transactions
• SPACs & Chapter 11
        - Chapter 11 Filings in Post or Failed SPAC Transactions
        - Distressed Investments
• Other Ceative Financing Structures
        - Litigation Financing
        - The Intersection of Litigation Fiannce and Bankruptcy
        - Challenges
        - Relationship of Claims Trading & Litigation Finance
        - Searching for Liquidity
        - Accommodation Agreement

Runtime: 1 hour
Recorded: August 5, 2021

For NY - Difficulty Level: For experienced attorneys only (non-transitional)
For NY - Difficulty Level: Experienced attorneys only (non-transitional)

Description

The panelists will discuss the recent reemergence of SPACs and will elaborate on the public policy and restructuring implications associated with them. This discussion of creative financing structures will focus on financing in a distressed environment, including three mini-case studies and emerging issues in litigation financing.

This program was recorded as part of ABI's 2021 Mid-Atlantic Bankruptcy Workshop on August 5th, 2021.

Provided By

American Bankruptcy Institute
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Panelists

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Jeffrey R. Manning, CTP

Managing Director
CohnReznick Capital

Jeffrey R. Manning, CTP is a managing director in CohnReznick Capital’s Baltimore office and has nearly 40 years of experience across corporate recovery, with activities in investment banking, loan workout, operating restructuring, value investing, bankruptcy advising and loan trading. The Turnaround Atlas Awards global program recognized him as one of the top 100 restructuring and turnaround professionals in the world.

Prior to joining CohnReznick Capital, Mr. Manning was a managing director at BDO Capital Advisors and CEO of the wholly owned investment banking subsidiary of FTI Consulting. He has also led the special situations practice at other Wall Street firms, including Legg Mason Wood Walker and Rodman & Renshaw.

Mr. Manning moved to Wall Street in 1992 at S.N. Phelps & Co., a well-known Greenwich, Conn.-based “vulture investor.” He began his career in 1981 with Manufacturers Hanover Trust, where he moved to “special loans” in 1983, then did operating restructuring work for Dun & Bradstreet from 1987-92.

Mr. Manning is a frequent writer and speaker at industry and university events, including at Columbia, Johns Hopkins and Wharton, and he authored a chapter, “Saving Technology and Service Companies from Chapter 11,” for a Thomson Reuters/Aspatore book series. He received his B.A. from Yale University and his M.B.A from Columbia University.

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Ferve E. Khan

Counsel
BakerHostetler LLP

Ferve E. Khan is a full-service bankruptcy and restructuring attorney in the New York office of BakerHostetler LLP, where her practice includes both plaintiff and defense-side litigation and transactional work. She has particular experience in the financial services, energy and health care industries. She also has represented creditors, committees and fiduciaries in cases of mass torts, the recovery of the proceeds of fraud, and chapter 11. In 2020, Ms. Kahn was named one of ABI’s “40 Under 40.” In addition, she co-chairs ABI’s Legislative Committee.

Ms. Khan received her B.A. in political science magna cum laude in 2005 from Brown University, and her J.D. in 2008 from Cornell University Law School, where she served as articles editor for the Cornell International Law Journal and managing editor of the Legal Information Institute Bulletin.

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Cameron M. Fee

Associate
Skadden, Arps, Slate, Meagher & Flom LLP

Cameron M. Fee is an associate in the Wilmington, Del., office of Skadden, Arps, Slate, Meagher & Flom LLP, where he focuses his practice on business reorganizations, distressed transactions and commercial litigation arising from distressed situations. He has experience advising companies, creditors, equityholders, lenders, sponsors, hedge funds and acquirers in all aspects of out-of-court restructurings and corporate reorganizations. In 2020, Mr. Fee was honored as one of ABI’s “40 Under 40.” He frequently writes on a variety of restructuring topics, including intercreditor agreements, cramdown interest rates, intellectual property, executory contracts and insider compensation.

Mr. Fee is an active member of ABI and the Delaware Bankruptcy Inns of Court. He previously clerked for Hon. Brendan L. Shannon in the U.S. Bankruptcy Court for the District of Delaware and for Hon. Patrick M. Flatley in the U.S. Bankruptcy Court for the Northern District of West Virginia.

Mr. Fee received his B.S. in 2007 from California Polytechnic State University in San Luis Obispo, and his J.D. cum laude in 2011and his LL.M. in 2015 from St. John’s University School of Law.

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Anne Eberhardt

Senior Director
Gavin/Solmonese

Anne Eberhardt is a Senior Director with Gavin/Solmonese based in New York City. She has more than twenty years of experience conducting forensic investigations, building financial reporting systems, resolving economic disputes, testing compliance, building and testing financial models, liquidating assets, and strengthening anti-corruption capacity in some of the world’s most difficult environments.

Her clients include top-tier financial services companies, global pharmaceutical companies, government agencies, and international non-governmental organizations. She is proficient in Spanish and is a frequent speaker on topics of corporate governance, fraud, anti-corruption, and money laundering.


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