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It is highly anticipated that a confluence of trends will lead to an extraordinary buying opportunity for distressed control and debt investors. During the Innovative Deal Financing Conference at the Harvard Club in New York City, a panel of experts Tuesday will determine if the markets — fed by a worsening credit crunch, as well as about $400 billion of outstanding debt coming due for refinancing — have hit the sweet spot for distressed acquirers. “Buying into Trouble: Distressed Acquirers at the Gate” will close out the one-day conference Tuesday afternoon.
Panelist Deirdre A. Martini, a managing director and senior restructuring adviser for corporate finance at CIT Group, will provide perspective on the current markets compared to what they looked like just prior to the slow-down. Meanwhile, Salvatore A. Barbatano, co-chair for bankruptcy and creditors’ rights matters in the Detroit office of Foley and Lardner LLP, will provide the bankruptcy view. The slow-down will undoubtedly allow for more distressed control investing in which private equity firms, in particular, actively participate in the reorganization of a bankrupt company to create value and add it to its portfolio instead of simply trading on it as a hedge fund might. Barbatano will discuss how bankruptcy judges and recent case law have responded to such activity from distressed investors. And finally, Tanja I. Aalto, a director in Houlihan Lokey Howard Zukin’s Financial Restructuring Group; and Anders Maxwell, a managing director of Peter J. Solomon & Co., will provide the forward-looking view. Aalto will discuss particular buying opportunities that are available in the markets, including upcoming refinancings. Maxwell, meanwhile, will discuss which sectors are likely to provide the best distressed pickings. Here’s a hint: Retail, commodity manufacturing and service companies could become prey. —Shanon D. Murray See the full coverage of the Innocative Deal Financing Conference Categories Deal Video
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