G36 document 28.4 - INSOL · To achieve the goals of INSOL International, The Group of Thirty-Six...

40
2006

Transcript of G36 document 28.4 - INSOL · To achieve the goals of INSOL International, The Group of Thirty-Six...

  • 2006

  • To achieve the goals of INSOL International, The Group of Thirty-Six wasformed as the principle sponsorship vehicle for its activities. The memberfirms provide significant ongoing financial support to INSOL to enable INSOLto carry out its collaboration with major projects such as those listed below:

    • The World Bank Principles and Guidelines for Effective Insolvency Systems

    • UNCITRAL Model Law on Cross-Border Insolvency• UNCITRAL Legislative Guidelines on Insolvency Law• IMF Report on Efficiency Insolvency Procedures• Group of Thirty Report on “International Insolvencies in the

    Financial Sector”

    • Group of Thirty Report on “Reducing the Risks of International Insolvency”• UNIDROIT Convention on International Security Interests • G22 Key Principals and Features For Insolvency Regimes

    In addition, the Group of Thirty-Six has enabled INSOL to publish:

    • A Global Approach to Multi-Creditor Workouts• Consumer Debt• Directors Liabilities and Disqualification – The Twilight Zone Volumes I & II• Review of the Global Insolvency Marketplace• Cross-Border Insolvency a Guide to Recognition and Enforcement• Employee Entitlements • Bank Insolvency, An International Guide for Deposit Insurers

  • one

    Addleshaw Goddard . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2Allen & Overy LLP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3Alvarez & Marsal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4Baker Tilly . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5BBK . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6Begbies Traynor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7Bingham McCutchen LLP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8Chadbourne & Parke LLP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9Cleary, Gottlieb, Steen & Hamilton LLP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10Davis Polk & Wardwell . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11Deacons . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12De Brauw Blackstone Westbroek . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13Ernst & Young . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 Ferrier Hodgson . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15Freshfields Bruckhaus Deringer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16Goodmans LLP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17Grant Thornton . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18Greenberg Traurig LLP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19Huron Consulting Group . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20Jones Day . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21Kaye Scholer LLP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22Kirkland & Ellis LLP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23KPMG . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24Kroll . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25Linklaters . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26Lovells . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27Norton Rose . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28Pepper Hamilton LLP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29PPB . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30PricewaterhouseCoopers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31RSM Corporate Advisory Services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32Shearman & Sterling LLP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33Skadden, Arps, Slate, Meagher & Flom LLP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34Vantis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35Weil, Gotshal & Manges LLP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36White & Case LLP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37

    Contents

  • two

    The firmAddleshaw Goddard is a successful, full service law firm, delivering more business criticalprojects for its clients than ever before. Three highly capable offices, providing consistentlyhigh quality both in and outside the City, work together as one firm to create an‘identifiably different’ brand in the UK legal market.

    With a pre-eminent reputation in Leeds and Manchester and strong capability in London,Addleshaw Goddard fields quality professionals where and when needed for each client.We believe that few other UK law firms can offer the same excellent value, high quality,commercially focused services to FTSE 350 and comparable organisations, institutions,successful businesses and private individuals.

    Built on a culture that is forward looking and supportive, commercial and straightforward,the firm’s strategy is to focus on FTSE 350 and comparable organisations, financialinstitutions, public sector bodies, successful businesses and private individuals and to be perceived as a credible alternative to magic circle firms in high value work.

    The firm is a leader across a broad range of practice areas including banking and finance,commercial litigation, competition, construction, corporate finance, corporate restructuringand insolvency, defamation, employment, IP, IT, pensions, PFI and projects, private client,private equity, real estate, sport and tax.

    Types of assignments undertakenPart of Addleshaw Goddard's successful Finance & Projects Division, the Group providesboth contentious and non-contentious advice in respect of formal and informal insolvencyincluding restructuring and work-outs. We advise on international and domestic insolvencymatters and difficult cross-border issues for many of the big insolvency accounting practices,banks, lenders and other stakeholders. Increasingly, our focus is on problem prevention,assisting clients in developing de-risking strategies.

    We specialise in structuring complex lending multi jurisdictional transactions and providingcredit risk management to our lending clients. We have advised several clients on the impactof the European Insolvency Regulation, centre of main interest (COMI) and establishmentissues in the primary and secondary insolvency proceedings across European jurisdictions.We also have particular expertise in the distressed retail sector, and have advised on severalrecent turnarounds, restructurings, disposals and insolvency office holder appointments.

    As we are great believers in developing close relationships with our clients, we take thetime to understand their commercial requirements, we respond with clear, practical advicenot options.

    For more information contact: Louise Verrill [email protected] or telephone on (0) 207 160 3113

    150 Aldersgate StreetLondon EC1A 4EJTel: 020 7606 8855Fax: 020 7606 4390

    Sovereign HousePO Box 8Sovereign StreetLeeds LS1 1HQTel: 0113 209 2000Fax: 0113 209 2060

    100 Barbirolli SquareManchester M2 3ABTel: 0161 934 6000Fax: 0161 934 6060

    www.addleshawgoddard.com

  • three

    Allen & Overy LLP

    IntroductionAcross the last 12 months, our global restructuring group has continued to be at theforefront of developments to meet the demands of old and new stakeholders, recent lawsand tighter regulation. In the U.S. for example, a team was recently involved in the BlueBird case, one of the fastest ever chapter 11 reorganizations in U.S. bankruptcy history.Since the advent of the new legislation, members of the group are also advising on one of the first chapter 15 cases, and one of the first contested, in the country (MuscleTech).The group includes more than 130 lawyers worldwide, and is supported by litigation,securities, banking, antitrust, real estate, corporate and tax experts, who regularly work on insolvency matters.

    Our clientsWe have a broad and varied client list, and advice is given both to company managementand to creditors. We represent banks, financial institutions, bondholders, hedge funds,bond trustees, major accountancy firms, governments, public companies, trust andinsurance companies, private firms, statutory authorities and institutions as well as privateindividuals in the U.S., UK and other jurisdictions. We have significant experience advisingon non-performing loan portfolio/acquisitions and distressed debt trades, advising both thehedge funds and the major broker/lenders.

    Key cases In addition to the U.S. cases above, we are involved in a variety of major cases inAmerica, including Enron, Refco and Mirant and a number of the US airline bankruptcies.We have also advised on many large and high profile deals spanning other internationalmarkets, including TXU, MG Rover, Courts, Eurotunnel, Boxclever, Spectrum Plus, T&N,Jarvis, Meridien and British Energy.

    Principal U.S. restructuring contacts

    Ken Coleman Hugh McDonaldT: +1 212 610 6434 T: +1 212 610 6461E: [email protected] E: [email protected]

    David Frauman Carolyn ConnerT: +44 20 7330 4902 T: +44 20 7330 4742E: [email protected] E: [email protected]

    Principal international contacts

    Europe

    Gordon Stewart (London) Mark Sterling (London)T: +44 20 7330 2701 T: +44 20 7330 2662E: [email protected] E: [email protected]

    Rob Abendroth (Amsterdam) Peter Hoegen (Frankfurt)T: +31 20 674 1342 T: +49 69 2648 5905E: [email protected] E: [email protected]

    Asia

    David Kidd (Hong Kong) Moira Taylor (Singapore)T: +852 2974 7183 T: +65 6435 7405E: [email protected] E: [email protected]

  • four

    Founded in 1983, Alvarez & Marsal (A&M) is a global professional services firm, specializingin turnaround management, restructuring and a range of corporate advisory services. Withprofessionals based in locations across the US, Europe, Asia, and Latin America, Alvarez &Marsal excels in problem solving and value creation. Drawing on its strong operationalheritage and hands-on approach, A&M professionals work closely with organizations andstakeholders to help tackle complex business issues and maximize value.

    Alvarez & Marsal's Global Services:

    • Turnaround Advisory: A&M advises corporate management and boards in an effort tostabilize operations, address liquidity crises and position the company for a successfuloperational and financial restructuring.

    • Crisis and Interim Management: A&M acts on an interim basis to fill criticalmanagement vacancies such as Chief Executive Officer, Chief Restructuring Officer,and Chief Financial Officer, helping guide companies through crises and otherchallenging business or economic environments.

    • Creditor Advisory: A&M provides dedicated support to lenders, bondholders and othercreditors in complex restructuring, bankruptcy or distressed situations.

    • Corporate Finance: A&M provides a range of financial advisory services to clientsinvolved in mergers and acquisitions, restructurings, debt and equity financings andother complex situations requiring sophisticated transaction expertise.

    • Transaction Advisory: A&M provides investors and prospective acquirers with financial andoperational diligence services in the pre-acquisition stage of transactions.

    • Business Consulting: A&M provides senior leadership and problem solving expertiseto improve or enhance the performance of operational and business processes,including finance, supply chain, information technology, human resources, strategy,customer and channel, as well as outsourcing advisory services.

    • Tax Advisory: A&M’s tax professionals work closely with clients to understand, developand execute tax plans that impact the design and implementation of businessstrategies. A&M Tax Advisory Services is also a founding member of Taxand, a premierand independent global tax alliance.

    • Real Estate Advisory: A&M professionals advise owners, investors, lenders and usersof real estate throughout the real estate lifecycle to develop and implement detailedplans and transactions that improve operations, unlock value and minimise risk.

    • Dispute Analysis and Forensics: A&M provides a range of analytical, investigativeand economic services to law firms, corporate counsel and company managementinvolved in complex financial disputes and/or possible fraud.

    • Healthcare: A&M delivers operational, financial and clinical performance improvementfor healthcare organisations. We work alongside management, boards of directors andkey stakeholders as advisors or as interim managers to help drive results-orientedoutcomes and positive change for providers, payors, and suppliers.

    • Public Sector: A&M provides specialised turnaround management and restructuringservices to the public and not-for-profit sectors, including federal, state, municipal andpublic school organisations. Notable clients have included: St. Louis Public Schools andNew Orleans Public Schools in the U.S.

    For more information, visit www.alvarezandmarsal.comor contact Rebecca Baker, Chief Marketing Officer at +212.759.4433.

    Alvarez & Marsal Global Headquarters Alvarez & Marsal European Headquarters600 Lexington Avenue One Canada Square

    6th Floor 5th FloorNew York, NY 10022 Canary Wharf, London E14 5AA

  • five

    Baker Tilly5 Old Bailey, London, EC4M 7AF, United KingdomT: +44 (0)20 7002 8600 F: +44 (0)20 7002 8891E: [email protected] www.bakertilly.co.uk

    Baker Tilly is the 7th largest accountancy and advisory firm in the UK.The firm’s BusinessRecovery practice provides one of the largest pools of expertise in the field of restructuring,recovery and insolvency services in the UK with teams of specialists located in 14 UK officesand comprising 28 partners and over 140 staff.

    The firm is represented internationally through its independent membership of Baker TillyInternational. Baker Tilly International is a network of high quality, independent accountancyand business services firms, all of which are committed to providing the best possible serviceto their clients, in their own marketplaces and across the world. Baker Tilly International is the8th largest network in the world by fee income and is represented by 122 firms in 75 countries,with over 18,600 staff worldwide.

    Our servicesWe have a diverse team with complementary skills, providing commercial solutions to banks,asset-based lenders and intermediaries in the sector. Our services include:

    • independent business reviews• security and collateral reviews• turnaround services including crisis stabilisation, cash and working capital

    management, and strategic advice• refinancing including alternative debt sourcing and exit timing• pensions deficiency advice• formal insolvency advice including administrations, administrative receiverships

    and company voluntary arrangements• specialist investigations and asset tracing.We specialise in rebuilding value for stakeholders and provide timely, cost effective andrelevant solutions.

    Sector specialismsBaker Tilly has a number of dedicated industry sector focus groups including professionalpractices, media, property, charities and education and pensions. The firm’s Business Recoverypractice is a leading adviser on under-funded pension schemes and is particularly well known forits expertise in motor, retail, media, sports and leisure, and agriculture.

    Quality deliveryThrough our system of internal licensing we ensure that in every situation the right person isdoing the work and will often involve our colleagues across the firm, and through ourindependent associates, to provide a multidisciplinary global solution. In applying provenmethodologies,we aim to exceed the expectations of our clients.We are committed torecruiting, training and developing the best talent around, and to providing quality businesssolutions and advice.

    Contact – Baker TillyGeoff Carton-KellyChairman, Business Recovery5 Old Bailey, London,EC4M 7AF, United Kingdomwww.bakertilly.co.ukT: +44 (0)207 002 8600F: +44 (0)207 002 8891E: [email protected]

    Baker Tilly InternationalAsia Pacific Regional ContactsSimon BladeBaker Tilly Hong KongT: +852 2826 5012F: +852 2810 1417E: [email protected]

    Bryan HughesBaker Tilly Pitchers Partners PerthT: +61 (08) 9322 2022F: +61 (08) 9322 1262E: [email protected]

    North America Regional ContactHoward CohenParente Randolph, LLCT: +1 302 428 9648F: +1 302 428 0999E: [email protected]

  • six

    AN INTERNATIONAL BUSINESS ADVISORY FIRM

    BBK is an international business advisory firm that advances theprogress of solid companies and helps troubled companies moveforward. We have extensive experience in finance, strategy,operations and general management, as well as unparalleledexpertise in manufacturing, stemming from our deep automotiveroots. Since 1977, we have successfully completed thousands ofengagements – spanning a broad array of industries – acrossNorth America, South America, Europe, Australia and Asia.

    BBK is dedicated to enhancing the growth, profits and stability ofour clients by providing real value at any stage of the businesslife cycle. For healthy, growing companies looking to remain ontop, we help improve performance, enhance enterprise value andmaximize returns. If progress is stalled, we aid in restoringperformance, preventing financial and/or operational distress andreturning to growth. Where decline is present, we act quickly tohelp stabilize, restructure, sell or divest.

    At BBK we integrate extensive financial, strategic and operationalexpertise with years of real-world experience to help movecompanies forward.

    FINANCIAL STRATEGIC OPERATIONALADVISORY ADVISORY ADVISORY

    BBK professionals provide a level of skill and experience farbeyond typical business consultants. Most are former corporateexecutives, investment bankers, commercial bankers andengineers. Many are certified as turnaround professionals, fraudexaminers, operations managers, insolvency practitioners, as wellas CPAs. Our team also includes specialized operationsprofessionals, with mastery in various manufacturing processes,such as Quality Systems, Lean Manufacturing, Six SigmaTechniques, and Value Stream Mapping.

    With this collection of expertise, services and integratedapproach, you’ll find that, unlike other advisory firms, BBK offerscomplete solutions and the ability to help implement them.

    • Corporate Restructuring

    • Corporate Finance

    • Litigation Services

    • Risk & Credit Management

    • Due Diligence - Corporate & Business

    Unit Strategy Evaluation

    - Strategic Alternatives Development

    - Acquisition & Disposition Advisory

    • Advanced Planning & Development

    • Operations Assessment

    • Performance Improvement

    • Operations Intervention

    EXTENSIVE INDUSTRYEXPERTISE

    • Automotive:OEMs/Suppliers/ Aftermarket

    • Chemical

    • Consumer Goods

    • Distribution/Logistics

    • Electronic Components & Equipment

    • Energy/Merchant Power

    • Fabrication & Machining

    • Financial Institutions

    • Food Processing

    • Industrial & Commercial Machinery

    • Metal Forging, Stamping & Foundries

    • Retail/Wholesale

    • Rubber & Plastics/Molding

    • Tool & Die Design/ Manufacturing

    • Transportation Services

    CONTACT INFORMATION

    B.N. Bahadur

    Chairman & CEO248.603.6333 [email protected]

    William G. Diehl

    Managing Director, COO & Automotive Group Lead248.603.6313 [email protected]

    Christoph M. Schindler

    Managing Director49.6172.483.2411 [email protected]

    James Feldkamp

    Director 86.21.6101.0295 [email protected]

    Detroit • Chicago • Frankfurt • New York • Shanghai • Warsaw

  • seven

    Begbies Traynor is the UK’s largest and fastest growing independent firm of restructuringand insolvency specialists. We are listed on AIM at The London Stock Exchange. We havea well-established comprehensive national network with some 350 partners and staff.

    Our international network is expanding rapidly, with joint ventures or associations in manydeveloped and developing jurisdictions. We are now represented in 12 territories in sub-Saharan Africa, with over 800 professional and support staff. In South East Asia, we haveassociates in Hong Kong and 7 locations in the PRC, as well as in six other countries. InSouth Asia, we have offices in India and Sri Lanka. We are represented across Europeand in the USA.

    Begbies Traynor seeks to assist business stakeholders when they are facing financialchallenges, acting variously for investors, directors, creditors and financial institutions asappropriate. Our assignments range from multi-nationals to small owner-managedbusinesses, as well as individuals facing financial difficulties.

    Our corporate recovery division specialises in helping businesses with financial, liquidity ormanagement problems, offering comprehensive business reviews and the implementationof agreed strategies, which may involve either formal or informal solutions as necessary.

    A significant proportion of Begbies Traynor’s work comes from formal rescue appointments,such as administrations or receiverships, through which we have built a reputation formanaging virtually every type of business efficiently and professionally, whilst a swift andcost-effective outcome is achieved for the creditors and other stakeholders.

    Our turnaround and restructuring division seeks to become involved at the earliestpossible opportunity. It works with a network of venture capitalists, specialist recoveryfunders and interim managers to improve business performance or to design andimplement exit strategies for owners and other stakeholders.

    Our rapidly expanding corporate finance division, McInnes Corporate Finance, is led byexperienced professionals and provides the full range of services and support, whether inrelation to a specific transaction or more general aspects of financial restructuring.

    We are also uniquely positioned to provide a tenacious investigation and reporting servicefor clients. This is based on systematic diagnosis of the current and projected financialposition of a business, backed by sound commercial judgement and practical experience.This unit has some of the UK’s leading asset tracing specialists. In addition, we providecomprehensive forensic accounting assistance to professional advisors in relation toinsolvency and fraud-related matters. Our extensive international contacts greatly increasethe effectiveness of these services.

    We do not carry out any audit, tax or general consultancy work in the UK, preferring toavoid the conflicts of interest inherent in full service accountancy practices.

    Begbies Traynor Tel: +44 (0)20 7398 380032 Cornhill, London, EC3V 3BT Fax: +44 (0)20 7398 3799Contact: Nick Hood Email: [email protected]

    Principal UK Offices: London, Manchester, Birmingham, Bristol, Brighton, Cardiff, Edinburgh,Exeter,Glasgow, Halifax, Leeds, Liverpool, Nottingham, Preston, Southend, Stoke, Watford

    International: Botswana, Chad, Kenya, Madagascar, Malawi, Mauritius, Reunion, Rwanda,South Africa, Tanzania, Uganda, Zambia, Hong Kong, Beijing, Chengdu, Kunming,Nanjing, Ningbo, Shanghai, Tianjin,Tai Pei, Tai Chung, Bangkok, Jakarta,Kuala Lumpur, Penang, Singapore, Tokyo, New Delhi, Colombo

    www.begbies-traynor.com

    BEGBIES TRAYNORCORPORATE RESCUE & RESTRUCTURING

    www.begbies-traynor.com

  • eight

    Bingham McCutchen LLP is an international law firm with 850 attorneys in 11 offices.The firm focuses on serving clients in high-stakes litigation, complex financial regulatoryand transactional support, and a wide variety of sophisticated corporate and technologymatters. Our 100-lawyer Financial Restructuring Group is one of the leading creditor-focused restructuring and insolvency practices in the world and is one of the very top “go to” service providers for the investment community.

    But don’t take our word for it—here is what the market says:

    Contact: Bingham McCutchen LLP | 399 Park Avenue, New York, NY | 10022 | 212.705.7000 | bingham.com

    “One of the world’s premier bankruptcypractices.”

    The Deal

    “Long established as an outstandingbondholder practice.”

    Chambers Guide UK

    “Stellar reputation for bondholder work.”Chambers Guide USA

    “A reputation for high-end, high profilelitigation across an amazingly wide rangeof areas.”

    Chambers Guide USA

    “One of the world’s premier rescue andinsolvency practices.”

    Global Turnaround

    “Bingham McCutchen houses a pair of theglobe’s leading [insolvency] practitioners.”

    Who’s Who Legal

    “One of the leading firms for bondholderwork.”

    The Lawyer

    “Commands an enviable following for itspredominantly creditor and bondholder-driven practice.”

    Chambers Guide USA

    3 of the top 25 “Best of the Best”insolvency lawyers in the world.

    Euromoney Institutional Investor

    2 of the 25 “Most Highly Regarded”insolvency lawyers in the world.

    Who’s Who Legal

    1 of the 12 “Outstanding BankruptcyAttorneys” in the United States.

    Turnarounds & Workouts

    “The firm to go to for complextransactions, this huge team can handlepretty much anything in the financialservices industry.”

    Chambers Guide USA

    “The most credible transatlanticpractice yet.”

    The Lawyer

    “The Nation’s preeminent internationalbankruptcy practice.”

    The American Lawyer

    “One of the market leaders in creditorrepresentations in Europe.”

    Credit Magazine

    “Responsible for organizing the vast bulkof Australia’s bond restructurings.”

    Global Turnaround

  • nine

    The FirmChadbourne & Parke LLP, founded in 1902, is an international law firm with top tier practicesin financial restructuring, bankruptcy, corporate, insurance/reinsurance, intellectual property,litigation, project finance and tax. The firm has offices in New York, Washington, D.C., LosAngeles, Houston, London, Moscow, St. Petersburg, Warsaw, Kyiv, Almaty and Beijing.

    Insolvency and Restructuring Experience and ServicesChadbourne & Parke LLP’s broad-based insolvency practice includes the representation offinancial institutions, creditors’ committees, and bondholders, as well as major corporations(both as debtors and creditors). We have played prominent roles in many of the largest andmost complex chapter 11 bankruptcy cases in the United States. We are actively involved ininternational and cross-border restructurings, including ancillary bankruptcy proceedingsbrought in the United States on behalf of foreign representatives. Sabena Airlines (Belgium),Jazztel p.l.c., Hopewell International Insurance (Bermuda), New Cap Reinsurance Corp.(Bermuda and Australia), Aterforsakring AB Luap (Sweden) and Bradstock Blunt & Crawley,Ltd. (UK) are just a few examples of cases where we obtained recognition in the U.S. of aforeign insolvency proceeding.

    Examples of Recent Assignments Refco Inc. Representation of some of the largest creditors/account holders in this chapter11 of a financial services company riddled with allegations of fraud.Parmalat USA Corp. Representation of the Official Committee of Unsecured Creditors inthe chapter 11 reorganization of the U.S. operations of this well-known Italian dairy and foodbusiness.Enron Corp. Representation of a number of banks and insurance companies that comprisesome of the largest creditors of this chapter 11 debtor and its foreign affiliates.Spiegel, Inc./Eddie Bauer Inc. Counsel for the Creditors Committee in the chapter 11 casesof one of the world's best known retailers (formerly owned by the Otto Group in Germany),with over $1.5 billion in debt.Mirant Corporation. Chapter 11 representation of the agent banks under various creditfacilities totaling over $4 billion owed by this international energy company.Daewoo - FSO Motor SA. Counsel for Warsaw-based car manufacturer in connection withits debt restructuring and court composition proceedings in Poland.Transportadora de Gas del Sur S.A. Counsel for the lenders committee in the restructureof over $1 billion of this Argentine company's outstanding debt.Huta Czestochowa SA (Warsaw). Representation of a syndicate of five Polish banks in thefinancial restructuring of Poland’s largest producer of steel sheet for the shipbuilding industry.Tokobank (Moscow). Representation of the IFC, as a creditor in the bankruptcyproceedings of Tokobank.

    For further information contact:New YorkHoward Seife,

    Department Chair +1 (212) 408-5361 [email protected] M. LeMay +1 (212) 408-5112 [email protected] H. Smolinsky +1 (212) 408-5489 [email protected]. Theodore Zink +1 (212) 408-5356 [email protected] A. Rozenberg +7 (095) 974-2424 [email protected] Romanova +7 (095) 974-2424 [email protected] Radzikowski +48 (22) 520-5060 [email protected] Skórczyński +48 (22) 520-5070 [email protected] Szubielska +48 (22) 520-5028 [email protected]

    www.chadbourne.com

  • ten

    For more than 25 years, Cleary Gottlieb’s global restructuring and bankruptcy practicehas been at the forefront of the world’s most complex restructurings, consistentlydelivering sophisticated, effective and imaginative advice to clients the world over.Offering seamless access to each of our offices in the United States, Europe, and Asia,we are uniquely qualified to manage transnational restructurings, combining cross-borderexpertise together with an appreciation of local sensibilities.

    We have played a central role, as company counsel, in numerous high profile Chapter 11proceedings within the United States and some of the largest private restructurings everattempted outside of the United States. Our precedent-setting sovereign practicerepresents numerous governments in their debt renegotiations, including the Republic ofIraq in its historic Paris Club debt accord – the largest debt cancellation ever afforded amiddle-income debtor nation – and the Republic of Argentina in its successfulrestructuring of approximately $100 billion of external debt. Creditors and other keystakeholders regularly look to us for assistance in dealing with their most difficultrestructuring problems, whether in or out of court. For example, the firm is currentlyrepresenting one of the United States’ largest labor unions, the UAW, in landmarknegotiations with General Motors concerning the automaker’s obligations to provide healthcare benefits to its retirees. Moreover, with our top-ranked M&A and tax practices weprovide invaluable strategic and transactional advice to both buyers and sellers, includingsome of the world’s leading financial institutions, private equity firms and public andprivate corporate acquirors. Finally, when matters get contentious, clients rely on oursubstantial experience in litigating insolvency-related matters before federal courtsthroughout the United States, and before European national courts and the courts of theEuropean Union.

    For further information contact:

    North America Thomas Moloney James BromleyTel: 212 225 2460 Tel: 212 225 2264Email: [email protected] Email: [email protected]

    Deborah Buell Lindsee GranfieldTel: 212 225 2770 Tel: 212 225 2738Email: [email protected] Email: [email protected]

    Europe Andrew Shutter Jean-Yves GaraudTel: 44 20 7614 2273 Tel: 33 1 40 74 68 76Email: [email protected] Email: [email protected]

    Thomas Buhl Roberto BonsignoreTel: 49 221 80 04 02 00 Tel: 39 06 695 22 234Email: [email protected] Email: [email protected]

    Latin America Mark Walker Richard J. CooperTel: 212 225 2240 Tel: 212 225 2276Email: [email protected] Email: [email protected]

    Asia Filip MoermanTel: 852 2532 3789Email: [email protected]

    Cleary Gottlieb Steen & Hamilton LLP/www.clearygottlieb.com

  • eleven

    Davis Polk’s insolvency and restructuring practice combines the firm’s leadership in credittransactions, restructuring and bankruptcy with its recognized strength in corporatefinance, M&A, litigation, tax, labor, employee benefits, products liability, derivative productsand environmental law. Utilizing resources in all of these areas, we seek to providecomprehensive strategies for dealing with financial distress.

    The firm has had leading roles in restructurings and bankruptcies since its founding in1849. From advising J.P. Morgan during the era of railroad reorganizations, to today’scomplex domestic and cross-border insolvencies, Davis Polk has been at the forefront ofcorporate reorganization practice. In the past three years, we have had major roles in theChapter 11 cases of Adelphia Communications, AmeriServe, Citation Corporation,Conseco, Delphi Corporation, Delta Air Lines, Dow Corning, Enron, Federal Mogul,Formica, LTV, Magellan Health Services, McLeod USA, Napster, Ntelos, Owens Corning,Polaroid, Refco, U.S. Office Products and Vlasic, among others. We have also had majorroles in many major debt restructurings, including Xerox, Rite Aid, Qwest and Nortel.

    Financial restructurings today require creative solutions to the strategic problems that give rise to financial distress. Fashioning such solutions in a globalized businessenvironment requires international presence and expertise in multiple disciplines. DavisPolk’s six offices in Europe and Asia, our worldwide contacts and state-of-the-art globalcomputer and communications network make us uniquely positioned to handle thesematters. Our fully integrated multi-disciplinary teams deliver the creativity necessary toaddress the complex problems facing distressed companies and their investors.

    Davis Polk has been a leader in developing techniques for coordination of insolvencyproceedings in multiple jurisdictions. We have been involved in public and private sectordebt restructurings and insolvencies in numerous countries, including Japan, Argentina,the United Kingdom, Ireland, Brazil, Honduras, Mexico, Poland, Turkey, Venezuela,Australia, New Zealand and various countries in Southeast Asia. Our partners have alsobeen active in legislative developments in the international arena, including acting for the United States on the United Nations Commission on International Trade Law(UNCITRAL).

    Donald S. Bernstein Karen E. Wagnertel: 212-450-4092 tel: 212-450-4404fax: 212-450-3092 fax: 212-450-3404email: [email protected] [email protected]

    John Fouhey Laureen Bedelltel: 212-450-4358 212-450-4167fax: 212-450-3358 212-450-3167email: [email protected] [email protected]

    Marshall S. Huebner Nancy Sanborntel: 212-450-4099 tel: 212-450-4955fax: 212-450-3099 fax: 212-450-3955email: [email protected] email: [email protected]

  • twelve

    Introducing Deacons, the first Asia-based member of the Group of Thirty-Six.

    Deacons is a major international law firm with more than 900 lawyers across Australia andAsia. Our firm has built a reputation for taking the initiative by looking beyond the legalissues and bringing new options and perspectives to the table.

    Today more and more organisations are broadening their horizons and doing business inthe international arena. Global expansion brings opportunities and rewards but alsocarries potential risks. Deacons has the knowledge and experience to help clientsnavigate the complex international legal environment.

    Our network consists of Deacons owned and affiliated offices in 16 cities in 9 countriesand regions throughout Asia - Australia, Hong Kong, Indonesia, Malaysia, People'sRepublic of China, Singapore, Taiwan, Thailand and Vietnam. We provide international-class legal services combined with local know-how to a wide range of successfulcorporations, governments and public authorities, as well as to private businesses,financial institutions and individuals.

    Deacons – an easy solution to your Asian legal problems.Principal contacts

    Bangkok, Beijing, Brisbane, Canberra, Guangzhou, Hanoi, Ho Chi Minh City, Hong Kong, Jakarta,Kuala Lumpur, Melbourne, Perth, Shanghai, Singapore, Sydney, Taipei.

    www.deacons.com.au

    MelbourneAndrew BruceSteven PalmerStewart Peters

    Tel: 61 3 8686 6000Fax: 61 3 8686 6505e: [email protected]

    SydneyJohn HolmesMitchell Mathas

    Tel: 61 2 9330 8000Fax: 61 2 9300 8111 e: [email protected]

    PerthChris McLeod

    Tel: 61 8 9426 3222Fax: 61 8 9426 3444e: [email protected]

    BrisbanePeter Schmidt

    Tel: 61 7 3309 0888Fax: 61 7 3309 0999 e: [email protected]

    BangkokDouglas Mancill

    Tel: 66 2 679 1844Fax: 66 2 679 1864e: [email protected]

    Beijing Representative office ofDeacons Hong KongFranki Cheung

    Tel: 86 10 8518 2338Fax: 86 10 8518 2339e: [email protected]

    Ho Chi Minh CityAndrew Hilton

    Tel: 84 8 829 4882Fax: 84 8 829 4880e: [email protected]

    GuangzhouRepresentative office ofDeacons Hong KongKim Toh Guat

    Tel: 86 20 8778 5678Fax: 86 20 8777 0488e: [email protected]

    Hong KongSimon Deane

    Tel: 852 2825 9211Fax: 852 2810 0431e: [email protected]

    JakartaBrigitta I. Rahayoe &SyamsuddinIn association withDeaconsRick Beckmann

    Tel: 62 21 521 0048Fax: 62 21 521 0086e: [email protected]

    ShanghaiRepresentative office of Deacons AustraliaElizabeth Cole

    Tel: 86 21 6340 3588Fax: 86 21 6340 3788e: [email protected]

    Kuala LumpurJeff Leong, Poon & WongIn association withDeaconsJeff Leong

    Tel: 60 3 2166 3225Fax: 60 3 2166 3227e: [email protected]

    TaipeiAlliance International Law OfficesIn Association withDeaconsDavid Lu

    Tel: 886 2 2597 4521Fax: 886 2 2592 6601e: [email protected]

    SingaporePhillip Crowley

    Tel: 65 6224 7787Fax: 65 6224 7328e: [email protected]

  • thirteen

    De Brauw Blackstone Westbroek is an independent law firm, specialised in providing high-end legal advice in business transactions and commercial litigation. Ever since the firmwas founded, in 1871, we have focussed on providing top quality legal services and ondeveloping outstanding lawyers.

    Clients include a large number of leading multinational companies and financialinstitutions as well as companies listed on the Euronext Amsterdam. Over 40% of the top100 companies in the Netherlands select De Brauw as their lead law firm.

    De Brauw is the only Dutch firm to be ranked by Chambers and Partners as number oneon Restructuring and Insolvency. “Clients praised the “legal sophistication” of the team'shigh-quality lawyers and concluded that it remains “right at the top of the game.”(Chambers Global, 2006).

    Over 20 years of experience in corporate restructuring and insolvency Our lawyers have been involved in almost every major restructuring or insolvency in theNetherlands in the past 20 years, as well as in many international cases. In order toensure our clients' interests, we are often involved prior to the instigation of any formalinsolvency proceedings. This approach differs markedly from our competitors.

    Recent work includes high-profile matters with a major international dimension andsignificant media exposure, such as advising a major retailer in its refinancing andrestructuring, a large IT company in its financial restructuring and its procedure vis-à-visbondholders, and a large construction company in its equity issues and bridge financing inconnection with an acquisition.

    We advise and assist banks, (multinational) companies and management on all insolvencyor restructuring related issues. In addition, while De Brauw does not, as a rule, acceptappointments as liquidator or bankruptcy trustee, our lawyers do advise court appointedliquidators or bankruptcy trustees. We are regularly involved in international and multi-jurisdictional cases and occasionally accept appointments by foreign courts as specialcounsel.

    A cross-border practice Our firm´s practice covers a broad range of Dutch, EU and Netherlands Antilles law. Thisincludes corporate, mergers & acquisitions, private equity, banking, equity and debt capitalmarkets, asset and structured finance, project finance, insolvency, restructuring,investment management, tax, corporate and commercial litigation, arbitration, EU andcompetition law, intellectual property and patents, information technology andcommunication, public law, estate planning, real estate and employment law.

    De Brauw has 76 partners and 250 associates with offices in Amsterdam, London, NewYork, The Hague, and Rotterdam.

    Contact De Brauw Blackstone WestbroekTripolis, Burgerweeshuispad 301 1076 HR The Netherlands W www.debrauw.com

    Sijmen de Ranitz Jako van Hees T +31 20 577 1479 T +31 20 577 1024 E [email protected] E [email protected]

  • fourteen

    Ernst & Young offers a wide range of restructuring services throughout the world tocompanies in difficulty and to banks and other financial, regulatory and judicial institutions.These services draw upon our national specialist knowledge and experience in eachcountry and include:

    • Business appraisal – viability assessment, modelling, due diligence and valuation reviews • Turnaround strategies • Financial restructuring – formulation, negotiation and support • Formal insolvency appointments

    These services are also available to other professional advisors whose clients (whether lenders or companies in difficulty) require specialist and constructive advice to solve their problems.

    Our worldwide network deals with the financial and operational problems of companies on a domestic basis while also providing a co-ordinated approach to cross-bordersituations. Each of our regional networks is represented on the Ernst & Young GlobalRestructuring Group, which co-ordinates the following locations:

    Based in: Covering:

    John Gibbons Sydney, Australia Australia and Far East Tel: +61 (2) 9248 4221

    Murray McDonald Toronto, Canada The AmericasTel: 1 (416) 943 3016

    Maggie Mills London, UK Europe, Middle East and Africa Tel: 44 (0)20 7951 9802

    Alan Bloom London, UK Europe, Middle East and AfricaTel: 44 (0)20 7951 9898

    Roy Bailey London, UK Europe, Middle East and AfricaTel: 44 (0)20 7951 9101

    As members of Ernst & Young Global, we have over 100,000 people in more than 700 offices in over 140 countries, covering the above areas. Our professional expertise is employed by many organisations, including multinational corporations, owner-managed companies, governments, utilities, non-profit organisations and lenders. In a world of everincreasing financial complexity our services are based on extensive practical experienceand expertise from around the world delivering a seamless approach to clients. We adopta multidisciplinary approach to problems on an international basis, and we can assemblespecialist teams at short notice.

    Our overriding objective is to provide expertise and knowledge to deliver consistent worldwide value added solutions. Ernst & Young around the world works closely together toprovide country knowledge, industry expertise and the breadth of services needed todeliver creative solutions where corporates are experiencing financial difficulties.

  • fifteen

    Key regional contacts The Group

    Australia FH is one of Australasia’s leading service firms specialising in:• Corporate Restructuring and Turnaround Management

    Sydney • Corporate and Financial Advisory ServicesPeter Walker • Forensic, Fraud and Investigative ServicesT: + (61) 2 9286 9999 • Creditor Representation and Advisory ServicesF: + (61) 2 9286 9888 • Insolvency ServicesE: [email protected]

    Ferrier Hodgson’s head office is based in Sydney, Australia.Offices are in major capital centres in Australia, New Zealand, Hong Kong, Japan, Singapore, Indonesia and Malaysia. Our Professionals total some

    Asia 39 Principals and 325 Professional Executives.

    Hong KongRod Sutton FH’s services are complemented at an international level T: + (852) 2820 5600 through its affiliation with Kroll Inc.F: + (852) 2521 7632E: [email protected]

    The approach

    The FH business focuses on addressing complex financialand restructuring challenges for corporations in distress.The ethos is that of integrity, ingenuity and creativity. As a

    New Zealand group, our Senior Principals have in excess of 30 years’practical experience in the industry.

    AucklandMichael StiassnyT: + (64) 9 307 7865 The mandate to which we operate focuses on:F: + (64) 9 377 7794 • Creating LiquidityE: Michael.stiassny@ • Managing Stakeholders

    ferriers.co.nz • Realigning Management• Developing Strategic Plans• Restructuring Operations• Restructuring Debt and Capital

    Europe, UK, USA (Kroll Inc)Our teams are sourced from our most suitably qualified

    Simon Appell people. Where appropriate, we deploy our industry-based T: + (44) 171 493 2550 external Consultants from our panel to fill hands-on F: + (44) 171 629 9444 management roles in our engagements.E: sappell@

    krollworldwide.com

    For more information about the Group, visit our website:www.ferrierhodgson.com.

    Locations

    Australia: Adelaide, Brisbane, Melbourne,Perth, Sydney

    Asia: Hong Kong, Indonesia, Japan,Malaysia, Singapore

    New Zealand: AucklandEurope, UK, USA: Kroll Inc.

  • The firmFreshfields Bruckhaus Deringer is a leading international law firm with a network of officesin Europe, the Middle East, Asia and the US, providing a comprehensive worldwideservice to national and multinational corporations, financial institutions and governments.

    Our expertiseOur global restructuring and insolvency group acts for insolvency practitioners, corporates,creditors, regulators, borrowers and lenders on a very broad range of advisory andrestructuring work (including out of court refinancings, distressed acquisitions/sales andcontingency planning for distressed companies) as well as more formal insolvencyassignments across the insolvency spectrum.

    We tend to focus on complex transactions, often with a cross-border focus and we areknown for high quality legal advice and innovative solutions. Accordingly we are ofteninvolved in structuring transactions to address insolvency risks and concerns.

    Our clients include all the major players in the restructuring and insolvency market -commercial and investment banks, central banks, government institutions, private equity,corporates, and insolvency practitioners. Our lender led work continues to expand and weare delighted by the growing relationships we have with many of the major lenders. Thiscomplements our existing deep relationships with investment banks, corporates, privateequity houses, restructuring advisors and insolvency practitioners. We are also workingwith an increasing number of private equity and hedge funds.

    We have built on our sectoral and firm wide legal expertise with construction, energy,insurance, leisure, pensions, retail, telecommunications, technology and transport &logistics being particular strengths.

    “Winning roles on high-value and complex matters, this firm has impressed with its “qualityproduct” and strong team at all levels.” Chambers UK 2006

    “Sandy Shandro leads a practice that is widely acknowledged for its work on the debtorside, but has also developed its connections with banks and creditors such as ABN Amro,Barclays, HSBC and RBS.” Legal 500, 2005

    For further information contact:

    Sandy Shandro

    Peter Bloxham

    +44 20 7936 4000

    sixteen

  • seventeen

    250 Yonge Street, Suite 2400 Tel: +1 416.979.2211Toronto, Ontario M5B 2M6 Fax: +1 416.979.1234Canada Website: www.goodmans.ca

    Contacts:Jay A. Carfagnini +1 416.597.4107 [email protected] Rubenstein +1 416.597.4148 [email protected] Chadwick +1 416.597.4285 [email protected]

    Goodmans is a leading business law firm of over 200 lawyers with offices in Toronto andVancouver. The Corporate Restructuring Group acts for corporations, institutional and non-institutional traditional and asset-based lenders, noteholders, equity sponsors and otherkey stakeholders, as well as a wide variety of debtors. Our list of clients include privateand public corporations, Canadian, U.S., and international financial institutions. We haveconsiderable experience in a broad range of industries including, telecommunications,transportation, steel, forest products, energy and retail. The group is well-versed in thebroad range of complex issues which frequently arise in the course of reorganizing orrestructuring an entity with cross border ramifications. Our insolvency expertise includesspecialists in a number of areas including insolvency litigation, pensions, tax, real estateand employment and labour.

    Goodmans’ Corporate Restructuring practice is widely regarded as the leading practice inCanada with the deepest top-tier bench strength. Our position in the marketplace is wellrecognized. For the fifth year in a row, Goodmans stands alone in the top tier for CanadianInsolvency/Corporate Recovery, according to Chambers Global The World’s LeadingLawyers for Business 2006. Clients and peers say that Goodmans’ CorporateRestructuring Group is “unquestionably the foremost restructuring and insolvency outfit inCanada” with a …”deep, deep bench, strong national footprint and entrepreneurialapproach”. Chambers also comments that we are “perceived to be one of the few firms inCanada to have a distinctive international as well as domestic profile”. Chambers GlobalAwards 2002 shortlisted Goodmans’ corporate restructuring group for the “InternationalLaw Firm of the Year” in the practice of insolvency and corporate recovery.

    IFLR 1000 ranked Goodmans’ corporate restructuring group as the only Tier 1 Canadianlaw firm in 2005 and 2006 commenting that “when it comes to insolvency andrestructuring work, Goodmans is in the enviable position of being generally regarded asthe best in Canada”. The current Canadian Legal Lexpert Directory ranks Goodmans asthe only “most frequently recommended” law firm for insolvency and corporaterestructuring. Practical Law Company (PLC) ‘Which Lawyer’, PLC’s Restructuring andInsolvency Handbook also rank Goodmans as a leading Canadian law firm in restructuringand insolvency law.

    Notable restructurings and insolvencies include:

    • Calpine Corporation, MuscleTech, Teleglobe Inc., Air Canada, Stelco Inc., TCT TruckingCompany, JTI-Macdonald, Laura Secord, Loews Cineplex Entertainment Corporation,Mosaic Group, Slater Steel Inc., Harnischfeger Industries, GT Group Telecom, PSINetLimited, Cable Satisfaction International Inc., Microcell Telecommunications, DomanIndustries, AT&T Canada (now Allstream Inc.), Saskatchewan Wheat Pool, A.G.Simpson Automotive Inc., the Canadian Red Cross Society, Consumer’s Packaging Inc.and Fleming/Core-Mark International.

    • Refinancing of Parmalat Dairy & Bakery Inc. by Ontario Teachers’ Pension Plan; and• The liquidations of Confederation Life Insurance Company, Markham General Insurance

    Company, Northumberland General Insurance Company, Canadian branches of HomeInsurance Company, Reliance Insurance Company and English and AmericanInsurance Company.

  • eighteen

    Grant Thornton is one of the world’s leading organisations of accounting and consultingfirms providing specialist advisory services. We operate across 110 countries bringingtogether 20,000 personnel in 540 offices worldwide and share a commitment to providingconsistently high quality services to our clients.

    Recovery & ReorganisationThe growth in international business activity brings new challenges. Our solutions aredesigned to work across different jurisdictions. Our local market knowledge and thoughtleadership from specialist, multi-disciplinary teams delivers effective advice to bothdebtors and creditors. In some jurisdictions, we take insolvency appointments while inothers, we work to support local insolvency practitioners.

    Our independent, commercial, strategic and financial reviews provide stakeholders withthe relevant information they need in order to make the right decisions. At all times, ouroverriding aim is to preserve value in the business, where possible.

    We offer advice and support for the successful implementation of strategic andoperational improvements which may include the sale or refinancing of distressed assetsor businesses.

    Our servicesWhether you are in Boston, Bucharest or Beijing (and all points in-between), we can build a team to meet your sector and geographic requirements perfectly for any of thefollowing services:

    • turnaround and restructuring• strategic performance reviews• viability reviews• exit strategy services• corporate insolvency• asset tracing and recovery• personal insolvency

    ContactsFor further information on our global Recovery & Reorganisation services, please contact the relevant person below or visit our website at www.gti.org.

    Europe, Middle East and AfricaMark ByersT/F +44 870 991 2522E [email protected]

    Asia PacificAlan TangT +852 2218 3144F +852 2218 3614E [email protected]

    The AmericasJean RobillardT +1 514 393 4764F +1 514 878 2100E [email protected]

  • nineteen

    Business Reorganization & Bankruptcy PracticeOperating in an international environment requires more than local country presence.Greenberg Traurig’s approach is to make companies more valuable by focusing on thegoals of the business while crafting practical cross-border solutions in synergy with thelegal, regulatory and cultural practices of the market – from Latin America to Asia.Greenberg Traurig has the experience to guide businesses through every stage ofinternational business – from cross-border insolvency matters to strategic planning todispute resolution.

    With more than 60 lawyers, Greenberg Traurig’s Business Reorganization & BankruptcyPractice is one of the largest and most active in the world. We are experienced with multi-national companies in international loan restructurings, bankruptcies andinsolvencies, including simultaneous cross-border proceedings in multiple jurisdictions,and with representing non-U.S. creditors, liquidators and custodians in complex U.S.-based insolvency cases

    Our lawyers serve the major constituencies in the debt restructuring process: official and ad hoc committees of creditors and equity holders; debtors in a variety of industries;banks, insurance companies and other institutional lenders; bankruptcy trustees, receivers,examiners, indenture trustees and other fiduciaries; underwriters; aircraft and equipmentlessors; commercial landlords; and purchasers of troubled businesses and assets.

    The FirmGreenberg Traurig is an international, full-service law firm with 1,500 lawyers andgovernmental affairs professionals in the Americas, Europe and Asia. We combine legal,business and political experience to secure effective results for a broad spectrum ofclients, from emerging companies to governments and Fortune 500 corporations.

    The firm is ranked eighth on The National Law Journal’s NLJ 250 listing of the largest lawfirms in the U.S. and ninth among The American Lawyer’s Am Law 100, based on thenumber of lawyers.

    Albany • Amsterdam • Atlanta • Boca Raton • Boston • Brussels1 • Chicago • DallasDenver • Fort Lauderdale • Houston • Las Vegas • London1 • Los Angeles • Miami • Milan1New Jersey • New York • Orange County • Orlando • Philadelphia • Phoenix • Rome1Sacramento • Silicon Valley • Tallahassee • Tokyo2 • Tysons Corner • Washington, D.C.Wilmington • West Palm Beach • Zurich

    1Strategic Alliance 2Greenberg Traurig Office/Strategic Alliance

    www.gtlaw.com

    Contacts:Keith J. Shapiro, Esq.Co-Chair, Business Reorganization &Bankruptcy Practice 77 West Wacker Drive, Suite 2500Chicago, Illinois [email protected]

    Mark D. Bloom, Esq.Co-Chair, Business Reorganization &Bankruptcy Practice 1221 Brickell Avenue Miami, Florida [email protected]

  • twenty

    Our Company

    Huron Consulting Group is an independent provider of financial and operational consultingservices. Huron’s experienced and credentialed professionals employ their expertise inaccounting, finance, economics and operations to a wide variety of both financially soundand distressed organizations, including Fortune 500 companies, medium-sized and largebusinesses, leading academic institutions, healthcare organizations and the law firms thatrepresent these various organizations.

    Corporate Advisory Services (CAS)

    The Corporate Advisory Services group assists clients facing turnaround, restructuring,bankruptcy or other corporate financial matters. Developing, designing and implementingturnaround strategies, we assist companies to reorganize their balance sheet leading tothe development of refinancing options. If a Chapter 11 reorganization is needed, wedevelop a plan and a timeline to navigate through the Chapter 11 process from thepetition date to the confirmation hearing. During the pendency of the case, we developinformation and communicate appropriately among all classes of creditors. Our roleincludes negotiation with all classes of constituents, communication of a turnaround orrecovery plan, development of consensus to confirm a plan of reorganization andevaluation of proposed asset sales, debtor in possession (DIP) financing and retentionbonuses. The services provided include:

    • Business and strategic planning• Claims management• Creditor negotiations• CRO and interim management• Operational restructurings• Pre and post-bankruptcy management

    For more detailed information on the services Huron Consulting Group provides please contact:

    James Lukenda, Managing [email protected]

    Daniel Wikel, Managing [email protected]

  • twenty-one

    Locations

    Jones Day’s Business Restructuring and Reorganization Practice is one of the premier groups of bankruptcy, insolvency, and workout practitioners in the world. Consistently ranked by nationalbusiness publications such as The Wall Street Journal, The American Lawyer, and BusinessWeek, as well as legal publications, as one of the top law firms practicing in the restructuring andbankruptcy areas, Jones Day represents debtors and creditors alike in complex restructurings,out-of-court workouts, chapter 11 cases, administrations, schemes of arrangment, as well asdistress investors and acquirors of financially troubled enterprises, and other restructuring matters.

    The Business Restructuring and Reorganization Practice includes nearly 90 professionalsthroughout the world who, together with more than 2,100 colleagues in related disciplines, bring to bear on matters large and small the broadest possible range of experience in developing andimplementing strategies for the restructuring of financially troubled enterprises. Jones Day lawyers aim to provide the most efficient service and practical advice possible, with a view towards developing innovative solutions that can be implemented quickly and at a reasonablecost. The Practice seeks to distinguish itself by striving to attain a consistently high level of clientsatisfaction. Judging by the results of the 2002, 2004 and 2006 Survey of Client ServicePerformance for Law Firms, conducted by BTI Consulting Group, Inc., both the BusinessRestructuring and Reorganization Practice and the Firm as a whole rank at the top of the legalprofession in this important measure.

    With its extensive geographic reach and substantive breadth, Jones Day is uniquely positioned tomaintain an active international insolvency practice and has played a leading role in many of thelargest and most widely publicized transnational restructurings and bankruptcies of the last decade.Jones Day has been intimately involved in various international workout transactions andmultijurisdictional bankruptcy proceedings, including, among others, out-of-court debt restructuringsfor Hagemeyer, Exide SA, Orange/France Telecom, Veolia Environnement and Isuzu NorthAmerica, the reorganizations of HQ Global, Laidlaw Inc., Olympia & York, Loewen Group,Teleglobe, Telewest, NTL, Williams Communications, Kaiser Aluminum, Burlington Industries,LTV Steel Company, National Century Financial Enterprises, UPC Polska and Globalstar L.P.,the ancillary U.S. chapter 11 cases filed in connection with Areonaves/Aeromexico’s Mexicaninsolvency proceedings and Slater Steel’s Canadian insolvency proceedings and parallel filing in theU.S., representations of General Motors in connection Fiat, Lucent in the WinStar Communications,Inc. and AT&T Latin America chapter 11 cases, Xcel Energy, Inc. in the NRG chapter 11 case,Nextel in the Nextel International chapter 11 case, the financial institutions committee in KMart, theInternational Bank Group of Comdisco, as well as key financial institutions in Kirsch Media,Venture/Peguform, Rennaissance Cruise Lines and Sabena Air. The Firm is actively involved indebt reduction and asset disposition programs for sellers such as the disposition by Aquila of itsBritish Midland utility assets, and similar work for AEP, Mission Energy and Rhodia among others,and acquirors, such as WL Ross and his portfolio companies such as International Steel Group andNew Coal Group, Harman International in the acquisition of various insolvent German companies,Diebold in the acquisition of assets owned by BULL, as well as Continental Airlines in connectionwith Avianca Airlines and IBM in connection with the international businesses of Comdisco.In reliance on its skills with financially troubled companies, Jones Day is also a leader in NPLtransactions in Asia, France, Germany and Italy, representing major financial institutions such asMorgan Stanley, Lehman and GE Commercial Financial Services.

    Atlanta BeijingBrussels Chicago Cleveland Columbus Dallas Frankfurt

    Hong Kong Houston IrvineLondon Los Angeles Madrid Menlo Park Milan

    Contacts:David G. HeimanNorth Point, 901 Lakeside Ave.Cleveland, OH 44114-1190Tel: 216.586.7175Fax: 216.579.0212E-mail: [email protected]

    Corinne Ball222 East 41st StreetNew York, NY 10017-6702Tel: 212.326.7844Fax: 212.755.7306E-mail: [email protected]

    Moscow Munich New Delhi (an associate firm)New York Paris Pittsburgh San DiegoSan Francisco

    Shanghai Singapore Sydney Taipei Tokyo Washington

    Adam Plainer21 Tudor StreetLondon, EC4Y 0DJTel: 020 7039 5136Fax: 020 7039 5999E-mail: [email protected]

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    Business Reorganization and Creditors’ Rights Group

    Kaye Scholer has one of the largest and most experiencedgroups of attorneys in the country dedicated exclusively torestructuring and bankruptcy work. The firm offers clients acomprehensive, nationwide restructuring and insolvencypractice based in our offices in New York, Chicago and LosAngeles. Our clients include agents for syndicates of lenders,individual lenders and lessors, equity sponsors and theirportfolio companies, debtors, indenture trustees, fiduciariesand committees.

    Our client base is made up of some of the world’s largestcorporations, banks and other financial service institutions.The firm excels in resolving complex issues whether in thecontext of an out-of-court restructuring or a bankruptcyproceeding in addition to working through complicatedstructures, many of which involve cross-border issues.

    We pride ourselves on our innovative approach to insolvencyproblem solving. When Johns-Manville was confronted with theproblem of dealing comprehensively with its asbestos liability,for example, our attorneys developed a channeling injunctionthat later was codified in the Bankruptcy Code and that hasbecome the template for the restructuring of similarly situatedcompanies. In the White Motor bankruptcy, we established thelegal principle that substantially all of a company’s assets canbe sold outside a plan, in a case that is universally cited as theprecedent for the ability to treat a company as a perishableasset and to effect its sale under Section 363 of theBankruptcy Code. In addition, many of the leading financialinstitutions have called on Kaye Scholer attorneys to advisethem on complicated restructuring and insolvency transactions.The firm represented the senior secured lender group in Aladdin Gaming. This engagement spanned the pre-bankruptcy workout period, the bankruptcy restructuring,the DIP financing and the exit financing for the purchase ofAladdin’s business as part of its reorganization plan.

    We view the bankruptcy process as a planning tool ratherthan as an end in itself. Properly used, it can create anenvironment in which operations can be stabilized,management issues addressed and assets positioned forrecapitalization. Over the years, we have participated in thepurchase, sale or restructuring of dozens of businesses in avariety of industries.

    As a testament to the problem-solving approach we bring tothe corporate restructuring area, a number of our partnershave been asked to serve on the boards of directors ofreorganized or recapitalized entities. Our members haveserved on the boards of REITs or operating entities in the realestate development, entertainment, environmental andinformation technology industries. Whether we are calledupon to assist in a transaction or in a litigation matter, ourobjective in every representation is to use our disciplinedapproach to maximize our client’s position as effectively andefficiently as possible.

    Kaye Scholer LLP425 Park AvenueNew York, NY 10022Tel: 212-836-8000Fax: 212-836-8689

    70 W. Madison StreetSuite 4100Chicago, IL 60602Tel: 312-583-2300Fax: 312-583-2360

    1999 Avenue of the StarsLos Angeles, CA 90067Tel: 310-788-1000Fax: 310-788-1200

    Internet:www.kayescholer.com

    Contacts:

    Arthur J. Steinberg EsqE-mail:[email protected] YorkTel: 212-836-8564Fax: 212-836-8689

    Margot B. Schonholtz EsqE-mail:[email protected] YorkTel: 212-836-7064Fax: 212-836-8689

    Michael B. Solow EsqE-mail:[email protected]: 312-583-2310Fax: 312-583-2510New YorkTel: 212-836-7240Fax: 212-836-8689

    Marc S. Cohen EsqE-mail:[email protected] AngelesTel: 310-788-1223Fax: 310-788-1200

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    Kirkland & Ellis LLP’s Restructuring Group provides a broad range of business advisoryand crisis management skills, with extensive experience in US and internationalinsolvency matters, to navigate clients through the turmoil of situations involving financiallytroubled companies.

    In providing these services, Kirkland acts for a varied range of national and internationalclients: debtors; financial institutions; secured creditors; insurance companies;bondholders; lessors; unsecured creditors; investors; and board/creditor and equitycommittees in complex corporate restructuring, workout and bankruptcy planning,negotiation and litigation. Kirkland’s restructuring group has handled significantrepresentations for such clients as United Airlines, Collins & Aikman Corporation, CalpineCorporation, Tower Automotive, Solutia, Musicland, Jallatte-Almar Group, Treofan Group,TWA, Chiquita Brands, Zenith Electronics, NRG Energy, Conseco, and W.R. Grace.

    Kirkland has recently expanded the restructuring practice with the hire of two Germanrestructuring partners to expand the Munich office’s restructuring capabilities. The groupnow numbers more than 100 lawyers worldwide, based across the U.S., London andMunich, and has earned a distinguished national and international reputation for providing outstanding legal advice and judgment to all constituencies in situations wherecompanies face impending insolvency. The 2006 edition of IFLR 1000 The Guide to theWorld’s Leading Financial Law Firms ranked Kirkland & Ellis in Tier 1, the highest ranking, for Insolvency and Restructuring. Chambers & Partners described Kirkland & Ellisas having a “pre-eminent” national debtors practice in their 2004-2005 survey of“America’s Leading Business Lawyers.” In April 2004, one of Kirkland’s lawyers wasselected as one of the “Dealmakers of the Year” by The American Lawyer. Also in April2004, The American Lawyer published their annual “Corporate Scorecard” survey in which Kirkland’s bankruptcy group was recognized for handling two of the top ten largestbankruptcies filed in 2003.

    For more information, please contact:

    Worldwide Contact

    James H.M. Sprayregen, P.C. [email protected] 312.861.2481

    London

    Lyndon E. Norley [email protected] +44.(0)20.7816.8851

    Los Angeles

    Richard L. Wynne [email protected] 213.680.8202

    New York

    Matthew A. Cantor [email protected] 212.446.4846

    www.kirkland.com

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    Succeed in a challenging environmentKPMG’s Corporate Recovery practice has developed and continues to develop a portfolio ofservices that reflect the changing circumstances of clients of KPMG’s firms and the markets inwhich they operate.

    Recently a new Turnaround Executive Unit has been introduced into the U.K. firm. Thisservice is led by KPMG professionals who have successfully turned around major FTSE 350companies. From day one these professionals can start to deal with the many issues facing anorganization and can take tough decisions to help stabilize a business, manage solvencyissues and help to improve profitability.

    Professionals of KPMG’s firms have the experience to step confidently into a variety of rolessuch as Chairman, Chief Restructuring Officer (CRO), Chief Financial Officer (CFO) or ChiefExecutive Officer (CEO), focusing primarily on recovery – this can allow the existingmanagement team to concentrate on running a business. And our interim executives do notwork in isolation; they have access to KPMG’s global network of professionals.

    Turnaround Executives from KPMG’s Corporate Recovery Practice can work closely andobjectively with stakeholders in your business and can help manage the expectations ofregulators and the media. Some of the main issues KPMG firms can help to address:

    In addition, KPMG’s Corporate Recovery Practice has dedicated teams concentrating on:

    KPMG’s Global Corporate Recovery contacts:

    © 2006 KPMG International. KPMG International is a Swiss cooperative of which all KPMG firms are members. KPMG International provides no services toclients. Each member firm is a separate and independent legal entity and each describes itself as such. All rights reserved. KPMG and the KPMG logo areregistered trademarks of KPMG International, a Swiss cooperative. KPMG International is a Swiss cooperative that serves as a coordinating entity for anetwork of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms intheir respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing containedherein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has anyauthority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The informationprovided here is of a general nature and is not intended to address the specific circumstances of any individual or entity.

    • creating a practical plan for restructuring the business

    • filling critical leadership positions• ensuring a timely flow of information

    and analysis• speeding up the turnaround process

    • motivating employees• managing communications with the Board,

    management and lenders• fallback planning.

    Mick Mcloughlin Global Head of CorporateRecovery practiceKPMG in the U.K.Tel: +44 (0) 207 694 [email protected]

    Tammo Andersch Head of Europe, Middle Eastand Africa region Corporate RecoveryKPMG in GermanyTel: +49 (69) [email protected]

    Malcolm Butterfield Head of Caribbean regionCorporate RecoveryKPMG in BermudaTel: +1 (441) 295 [email protected]

    Doug McIntoshHead of Americas regionCorporate RecoveryKPMG in CanadaTel: +1 (416) 777 [email protected]

    Masahiko Chino Head of Asia Pacific regionCorporate RecoveryKPMG in JapanTel: +81 (3) 5218 [email protected]

    Philip DavidsonHead of Restructuring AdvisoryKPMG in the U.K.Tel: +44 (0) 207 694 [email protected]

    • Financial Restructuring• Operational Restructuring• Turnaround Executive Services• Cash and Working Capital Management• Independent Business Review• Accelerated Mergers and Acquisitions• Lender Advisory• Contingency Planning

    • Exit Planning & Implementation• Impaired Loan Management• Insolvency Services – non court

    appointed• Insolvency Services – court appointed• Insolvency Services – Personal• Statutory restructuring and wind-downs• Client Advisory

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    Kroll’s Corporate Advisory & Restructuring professionals provide corporate rescue,restructuring, insolvency and bankruptcy services. Our independent status enables us togive objective, unbiased, conflict free advice.

    With over 400 professionals we have extensive experience in working with and advising lenders,corporations and other stakeholders facing financial, strategic and operational difficulties.

    Effecting Change through Corporate RestructuringOur global restructuring team has the resources and capabilities to manage largeinternational assignments involving complex cross-border situations. Kroll Talbot Hughes,our UK and European restructuring practice, is renowned for providing innovative solutionsto the most challenging issues. Kroll Zolfo Cooper, our US based practice, is the pre-eminent advisory and interim management firm in North America. Kroll’s worldwide teamprovides a full range of restructuring services acting for both debtors and creditors.

    In Australasia we have an exclusive affiliation with Ferrier Hodgson, the foremostrestructuring practice in the region.

    Protecting Value through Corporate Recovery Kroll offers a partner led service of qualified insolvency practitioners with expertise inbusiness rescue and recovery. We undertake cases of all sizes and complexity, from localbusinesses to global market leaders. Our priority will always be, wherever possible, torescue a company and restore its value.

    Insolvency ServicesKroll’s Insolvency Services team has become a leading middle market operator founded on theextensive experience of its professionals. Our long standing relationships with a broad range ofclients, both large and small, enables us to provide solutions to suit all circumstances.

    As part of Kroll Inc., the world’s leading risk consultancy, we have access to unrivalledresources in forensic accounting, litigation support, valuation, asset tracing, businessintelligence, computer information recovery, data management and security services.Kroll is a Marsh & McLennan Company.

    EuropeLondon – European HeadquartersContact: Simon Appell + 44 20 7029 5000Other offices in: Birmingham, Glasgow, Leeds, Manchester

    ParisContact: Nicolas de Germay + 33 01 56 43 16 60

    MunichContact: Wolf Waschkuhn + 49 89 29 05 62 50

    United States of AmericaNew York – US HeadquartersContact: Steve Panagos + 1 212 561 4000Other offices in: Los Angeles, New Jersey

    AffiliatesFerrier Hodgson – Australasia

    Kroll (Cayman) Limited

    Kroll (BVI) Limited

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    Restructuring and Insolvency. LinklatersLinklaters is a law firm which specialises in advising the world’s leading companies, financialinstitutions and governments on their most challenging transactions and assignments. Withoffices in major business and financial centres, we deliver an outstanding service to our clientsanywhere in the world.

    Linklaters has one of the most experienced restructuring and insolvency teams in the market,comprising restructuring and insolvency specialists with leading domestic insolvency expertisecoupled with global finance and corporate experience. Our team also has expertise in otherrelevant practice areas such as tax, employment, real estate, intellectual property and disputeresolution and in a wide range of business sectors.

    Our team acts for creditors (banks, other financial investors and steering committees),insolvency practitioners, corporate debtors and their directors/officers in relation to: debtrescheduling, debt and equity restructuring, distressed M&A activity and strategic investments,rescue planning and implementation, corporate/formal insolvency procedures, asset and debtrecovery and forensic investigations.

    The team is highly regarded for its ability to combine a high quality of skills and a globalpractice, with recent commentators noting:

    “Offering outstanding global coverage, the firm also displays a ‘consistently excellent standard’ across the team, which comprises lawyers ‘with an astonishing breadth of talents’.”Chambers UK, 2005

    Different DealsWe have advised on some of the largest and most high profile restructurings and insolvenciesin the world and in 2005 we were shortlisted for Restructuring Team of the year by both IFLRand Legal Business. We also advised on the Parmalat restructuring, which won Global andEuropean Restructuring of the Year at the 2005 IFR awards. Examples of recent transactionswe have worked on include:

    • advising lenders in the relation to the £6 billion financing of Eurotunnel• advising financial creditors in relation to the collapse of the dairy group Parmalat• advising administrators of the MG Rover insolvency • advising on sale of £376 million intercompany receivables due to Welcome Break Finance • advising the distressed investors/creditors on Du Fort/Jalatte • advising “stalking horse” bidder on Refco• advising banks on the £350 million restructuring of Jarvis plc• advising the second lien investors on u375 million loan to the German and Dutch cable

    company, PrimaCom• advising joint provisional liquidators on the US$340 million and NOK150 million debt

    restructuring of Northern Offshore Ltd

    Key Contacts

    Western Europe Robert Elliott (Global Head of Restructuring & Insolvency Practice – London): (44-20) 7456 2000Tony Bugg (Insolvency – London): (44-20) 7456 2000Bertrand Andriani (France): (33-1) 5643 5643Carl-Peter Feick (Germany): (49-69) 710 03 0

    CEE & Russia Jason Mogg (CEE): (420) 221 622 111Michael Bott (Russia): (7-495) 797 9797

    Asia Patrick Fontaine (Hong Kong): (852) 2842 4888Philip Badge (Singapore): (65) 6890 7300Pichitphon Eammongkolchai (Thailand): (66) 2305 8000

    Americas Martin Flics (New York): (1-212) 903 9000Mark Palmer (New York): (1-212) 903 9000

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    Atlantic House, Holborn Viaduct, London EC1A 2FG Tel: +44 (0) 20 7296 2000; Fax +44 (0) 20 7296 2001

    Lovells is a leading international law firm with offices in Asia, Europe and North America,providing a complete range of corporate legal services to clients around the world. The firmhas more than 3,100 people worldwide, including 320 partners.The business restructuring and insolvency team comprises over 20 partners and 40 lawyers.It is one of the largest dedicated international restructuring and insolvency practices worldwide.

    Assignments undertakenLovells advises banks, insolvency practitioners, investors, directors, creditors, debtors andregulatory agencies on all aspects of work-outs, rescues, reschedulings, restructurings andinsolvencies. The firm has been involved in many of the largest and most complex insolvenciesand work-outs in recent years and has considerable experience in international andcrossborder transactions (such as BCCI, Ionica, Viatel, Peregrine, Greater Beijing FirstExpressways, Federal-Mogul).We advise on all formal insolvency procedures: administration, receivership and liquidation,company voluntary arrangements and schemes of arrangement. The firm also has a particularexpertise in insurance and financial institution restructuring (Equitable Life and AY Bank) andinsolvency (London & Overseas and Orion, Sovereign Marine), and in fraud and asset tracingin the UK and internationally (RBG Resources).

    International officesWe have offices in Alicante, Amsterdam, Beijing, Berlin, Brussels, Chicago, Dusseldorf,Frankfurt, Hamburg, Ho Chi Minh City, Hong Kong, London, Madrid, Milan, Moscow, Munich,New York, Paris, Prague, Rome, Shanghai, Singapore, Tokyo, Warsaw and associated officesin Budapest and Zagreb.

    Contacts:

    EUROPEAmsterdam Direct dial E mail addressKen Breken +31 20 5533 788 [email protected] Van Sint Truiden +31 20 5533 739 [email protected] Spencer (Practice Head) +44 (0) 20 7296 2598 [email protected] French (Non-Contentious) +44 (0) 20 7296 2488 [email protected] Kochberg (Contentious) +44 (0) 20 7296 5433 [email protected] Luis Huerta +34 91349 0250 [email protected] Criscione +39 02 720 2521 [email protected] Balayan +7 095 933 3016 [email protected] Hass +49 89 290 12 214 [email protected] de Poix +33 1 5367 1609 [email protected] Dubovsky +420 2 2141 1729 [email protected] Wroniak +48 22 529 29 70 [email protected] KongAllan Leung +852 2840 5061 [email protected] McDonald +852 2840 5002 [email protected] Taylor +65 6557 4507 [email protected] YorkGary Lee +1 212 909 0604 [email protected] Ostad +1 212 909 0605 [email protected]

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    Norton Rose, Kempson House, Camomile Street, London EC3A 7ANTel: 020 7283 6000, Fax: 020 7283 6500, Internet: www.nortonrose.com

    The Norton Rose International Recovery Group brings together solicitors skilled andexperienced in all aspects of corporate restructuring and insolvency work. Our expertiseand the quality and commitment of our specialists ensures we are well positioned to actspeedily and to advise and assist constructively in matters relating to companies orindividuals in financial difficulty.

    Much of our work concerns cross-border insolvencies and restructurings. We have beeninvolved in pioneering developments of co-operation between courts where concurrentinsolvency proceedings are taking place in England and other jurisdictions. We regularlyadvise banks and other creditors on the structuring of transactions as well as the recoveryof debt. We act for office-holders in English insolvency proceedings and for trustees andother insolvency representatives in foreign proceedings.

    We also advise companies in financial difficulties on restructuring. We have extensiveexperience of workouts, conducted in accordance with the INSOL statement of principles,in different jurisdictions around the world. Our work is closely aligned to Norton Rose’sbanking practice and we have particular expertise in specialist areas, such as aviation,broadcasting, energy, insurance, telecoms and bank insolvency.

    Norton Rose is a leading international legal practice.Knowing how our clients’ businesses work and understanding what drives their industriesis a key requirement in providing a high standard of service. Our clients and theirbusinesses are international, so it makes sense for our principal practice areas to beorganised along global lines.

    While we offer a full business law service across our international network, we arerecognised as having particular strength in these business areas:

    • corporate finance • financial institutions • energy and infrastructure• transport • technology.Norton Rose now has more than 200 partners, 800 lawyers and 800 other staff worldwide,operating from a network of offices across Europe, Asia and the Middle East.

    www.nortonrose.com

    Key contacts

    LondonHamish Anderson T: +44 (0)20 7444 3424 E: [email protected] Stonebridge T: +44 (0)20 7444 2449 E: [email protected]

    AmsterdamEp Hannema T: +31 (0)20 46 29 300 E: [email protected] Haslam T: +852 3405 2300 E: [email protected]: Hong Kong

    Eastern EuropeDmitry Gravin T: +7 095 244 3639 E: [email protected]: Moscow

    GermanyDirk Otto T: +49 (0)69 5050 960 E: [email protected]: Frankfurt

    ParisMartin Gdanski T: +33 (0) 1 53 89 56 00 E: [email protected]

    Licensed insolvency practitioners Hamish Anderson (1987) James Stonebridge (1999)

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    Corporate Restructuring and Bankruptcy Group

    Pepper Hamilton’s Corporate Restructuring and Bankruptcy Group consists of an integratednational network of more than 30 professionals and para-professionals who focus theirpractice on all aspects of reorganizations, bankruptcies, restructurings, workouts andbuyouts. Our attorneys regularly practice in courts throughout the country, and haveextensive experience handling a wide range of insolvency matters involving the food,asbestos, energy, construction, manufacturing, health care and automotive industries,among many others. Our clients include large national and international public and privatelyheld corporations, as well as governmental entities, small businesses and individuals.

    Pepper Hamilton is one of the few national law firms that undertakes insolvency andrestructuring work on behalf of all the affected constituents. Our clients include debtors,official and unofficial creditors’ committees, individual creditors, financial institutions, office