| 8:00-9:00 a.m. |
Breakfast and Registration |
Reception |
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| 9:00-9:10 a.m. |
Welcome |
Salon |
Welcome Remarks |
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| 9:15-10:45 a.m. |
Bankruptcy Theory (I) |
Salon |
Bankruptcy’s Enforcement Architecture |
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Kara Bruce (University of North Carolina) |
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Rethinking the Pari Passu Division–a Game Theoretic Creditors’ Bargain Theory Approach |
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Niels Pannevis (Utrecht University) |
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Justice-Driven Insolvency Law |
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Bolanle Adebola (University of Reading) |
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Comparative (I) |
Drafting Room |
DIP Financing in Emerging Markets: Structural Constraints, Creditor Incentives, and Recovery Outcomes in Brazil |
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Arthur Tomaz de Oliveira (University of Sao Paulo) and Henrique Kasai (Mattos Filho) |
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Corporate Debt Structure Around the World |
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Stefano Rossi (Bocconi University) |
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State-in-Possession: Big Firm Reorganizations in China |
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Xiao Ma (Harvard University) |
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Director Liability |
Studio 1 |
Surviving the Valley of Death: Reimagining Director Liability in Distressed Startups |
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Odelia Minnes (Ono Academic College) |
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Chartered by Bankruptcy: Fiduciary Duties and the Federal Entity |
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Daniel Tavera (Mississippi Christian University) |
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Artificial Intelligence |
Studio 2 |
Developing AI-Driven Decision Support for the Froactive Identification and Evaluation of Financially Distressed Companies by Belgian Commercial Courts |
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Stijn Van Ruymbeke (Ghent University) |
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Closed Circles: Will AI Infrastructure Drive the Next Restructuring Cycle? |
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Lev Breydo (College of William and Mary) |
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Equity Prices the Opportunity, Debt Prices the Risk: Generative AI and Corporate Credit Spreads |
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Priyank Gandhi (Rutgers University) |
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| 10:45-11:00 a.m. |
Break |
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| 11:00 a.m.-12:30 p.m. |
Purdue and Mass Torts |
Salon |
Channeling Fairness II: § 363 Revisited |
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Candice Kline (University of Toledo) |
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The Costs of Purdue Pharma |
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Bob Rasmussen (University of Southern California) |
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Mass Tort Exportation |
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Lindsey Simon (Emory University) |
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Recovery Rates |
Drafting Room |
Intangible Asset Specificity |
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Carmen Payne-Mann (University of Colorado) |
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Recovery Expectations and the Cost of Distress: A Law-and Economics Account of Cross-Border Asset Recovery |
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Valeria Manfredonia (University of Cambridge) |
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Corporate Hedging, Contract Rights, and Basis Risk |
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Yuri Tserlukevich (Arizona State University) |
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LMEs and Distressed Debt Maneuvers |
Studio 1 |
The Ambiguous Economics of Out-of-Court Workouts |
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Edie Hotchkiss (Boston College) |
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Entire Fairness for Creditors |
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Joshua Maymir (Penn Carey Law School) |
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Toxic Relationship Lending |
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M. Konrad Borowicz (Tilburg University) |
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Historical Perspective (I) |
Studio 2 |
Unexceptional Bankruptcy |
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Dolan Bortner (Stanford University) |
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Is the Automatic Stay Constitutional? Universal Injunctions, Article III, and the Bankruptcy System |
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Alexander Gouzoules (University of Missouri) |
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| 12:30-1:30 p.m. |
Lunch |
Reception and Salon |
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| 1:30-3:00 p.m. |
Private Credit and Private Equity |
Salon |
Buying from the Family: Private Equity-Owned Insurers and Their Affiliated Investments |
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Amy Huber (The Wharton School) |
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Private Credit’s State Backstop: How Private Equity Socializes Risk Through Insurers |
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Andrew Granato (University of Texas Austin) |
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Return-Chasing Capital, Hidden Losses, and the Private Credit Boom |
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Erica Jiang (University of California Los Angeles) |
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Debtor-in-Possession Financing |
Drafting Room |
The Cost of Intermediary Market Power for Distressed Borrowers |
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Winston Dou (The Wharton School) |
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The Role of Precedent in DIP Financing |
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Vince Buccola (University of Chicago) |
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The Role of Information in Acquisitions of Bankrupt Firms |
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Ilona Bastiaansen (University of Notre Dame) |
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Priority Issues |
Studio 1 |
The Rise and Fall of the Absolute Priority Rule (and the spiders from Mars) |
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Stephen Lubben (Seton Hall University) |
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The Problematic Reorganization-Sale Analogy in Corporate Bankruptcy Theory |
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Sarah Paterson (The London School of Economics and Political Science) |
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Captured Priority |
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Brook Gotberg (Brigham Young University) |
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Comparative (II) |
Studio 2 |
EU Harmonization of Insolvency Law: Level of Governance and Choice of Law |
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Peter von Wilmowsky (Goethe University) |
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Liquidating Innovation: A Structural Mismatch at the Heart of EU Inc.’s Insolvency Framework |
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Pier Mario Lupinu (University of Glasgow) |
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Secured vs. Unsecured Creditors: A Clash of Incentives in Corporate Acquisitions |
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Xinru Chen (Fordham University) |
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| 3:00-3:15 p.m. |
Break |
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| 3:15-4:15 p.m. |
Plenary Panel |
Salon |
Roopesh Shah (Evercore) |
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Barak Klein (Moelis) |
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Evan Fleck (Milbank) |
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Josh Feltman (Kirkland & Ellis) |
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Moderator: Steven Serajeddini (Kirkland & Ellis) |
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| 4:15-4:30 p.m. |
Break |
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| 4:30-6:00 p.m. |
Key Doctrinal Issues |
Salon |
Urgency Narratives in §363 Asset Sale Hearings: A Textual Analysis of Bankruptcy Court Transcripts |
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Jennifer Suh (University of Chicago) |
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Insolvent or Not: Does It Matter? The Failure of Solvency Tests in Corporate Bankruptcy |
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Adi Marcovich Gross (Reichman University) |
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Bankruptcy’s Demise: The Flawed Safe Harbor |
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Steven Schwarcz (Duke University) |
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Distressed Debt and Capital Flows |
Drafting Room |
Distressed Exchanges: A Prominent Form of Out-of-Bankruptcy-Court Corp Restructuring and the Conseqs for the Ailing Firm and its Creditors |
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Ed Altman (New York University) |
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Global Insolvency and Cross-border Capital Flows |
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Wei Wang (Queen’s University) |
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Expected Liquidation Values |
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Mehdi Beyhaghi (Federal Reserve Board) |
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Bankruptcy Theory (II) |
Studio 1 |
Theatrical Restructurings |
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Diane Lourdes Dick (University of Iowa) |
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Alternative Dispute Resolution in Insolvency Cases |
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Stephen Ware (University of Kansas) |
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A Method for Engagement of Opposing Views: The Belk Bankruptcy Debate |
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Lynn LoPucki (University of Florida) and Bob Rasmussen (University of Southern California) |
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Private Credit and Technology Change |
Studio 2 |
Going Dark: Private Credit and Firm Transparency |
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Dushyantkumar Vyas (University of Toronto) |
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From Fragility to Flexibility: How do Firms Respond to Upstream Technology Vulnerability? |
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Yuchan Lyu (Tsinghua University) |
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Same Loan, Different Mark: Fees, Gov, and Valuation in Private Credit |
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Pranjal Drall (Yale University) |
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| 6:00-7:00 p.m. |
Cocktail Reception |
Reception |
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| 7:00-9:00 p.m. |
Dinner and Keynote Address |
Salon |
Remarks |
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Judge Tom Ambro (Third Circuit) |
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