Only the Strong Will Survive: Financing and Valuing ......Musée d’Orsay, Notre Dame Cathedral and...

12
UP TO 12 CPD HOURS AVAILABLE* *As per the Solicitors Regulation Authority of England and Wales. The number of CPD points/hours available may vary for other bar associations and law societies depending on their criteria. A conference presented by the IBA Section on Insolvency, Restructuring and Creditors’ Rights (SIRC) and supported by the IBA European Regional Forum 17th Global Insolvency and Restructuring Conference Only the Strong Will Survive: Financing and Valuing Distressed Entities 22–24 May 2011 Hôtel Lutetia, Paris, France Topics include: The financing of debtors and insolvent entities EU Insolvency Regulations – a decade of lessons learned Status report from UNCITRAL Working Group V and World Bank Task Force Valuation studies: modelling and valuing a financially distressed company Insolvency of financial institutions Who should attend? Lawyers, judges, regulators, financial advisors, investors, crisis managers and opinion leaders should not miss this important conference. Headline sponsor

Transcript of Only the Strong Will Survive: Financing and Valuing ......Musée d’Orsay, Notre Dame Cathedral and...

Page 1: Only the Strong Will Survive: Financing and Valuing ......Musée d’Orsay, Notre Dame Cathedral and the delightful boutique shops and designer studios on the Left Bank. Our opening

UP TO 12 CPD

HOURS AVAILABLE*

*As per the Solicitors Regulation Authority of England and Wales. The number of CPD points/hours available may vary for other bar associations and law societies depending on their criteria.

A conference presented by the IBA Section on Insolvency, Restructuring and

Creditors’ Rights (SIRC) and supported by the IBA European Regional Forum

17th Global Insolvency and Restructuring Conference

Only the Strong Will Survive: Financing and Valuing Distressed Entities

22–24 May 2011

Hôtel Lutetia, Paris, France

Topics include:

• Thefinancingofdebtorsandinsolvententities

• EUInsolvencyRegulations–adecadeoflessonslearned

• StatusreportfromUNCITRALWorkingGroupVandWorldBankTaskForce

• Valuationstudies:modellingandvaluingafinanciallydistressedcompany

• Insolvencyoffinancialinstitutions

Who should attend?

Lawyers,judges,regulators,financialadvisors,investors,crisismanagers and opinion leaders should not miss this important conference.

Headline sponsor

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A word of welcome!As Co-Chairs of the IBA Section on Insolvency, Restructuring and Creditors’ Rights (SIRC), we are pleased to send you the programme for our 17th annual conference taking place this May in Paris.

The theme of SIRC’s 2011 annual conference is ‘Only the Strong Will Survive: Financing and Valuing Distressed Entities.’ While it will be difficult to surpass the substance and glamour our 2010 spring conference in Hamburg, we are going to try. Our programme will explore what it takes to survive as businesses and financial institutions fight to recover from the severe economic crisis that gripped the world over the last few years. The ultimate survival of a business depends on its ability to understand its business model, realistically value itself in the market, attract new capital, and adjust to and comply with new legislation designed to prevent future global financial tsunamis. Only those entities that can successfully navigate the new financial realities and restrictions will survive. A diverse group of panellists will explore how debtors and other insolvent entities raise capital, both in and out of restructuring proceedings, how businesses are valued and how those valuation models are used by courts, litigants and financial advisors. The conference will also include an analysis of the lessons learned over the past ten years since the passage of the EU Insolvency Regulations, as well as a review of the new legislation around the globe for dealing with the insolvency of financial institutions.

Our social programmes will be equally inspiring as we partake of Paris’s legendary food, wine and hospitality. The venue of our conference is the historic Hôtel Lutetia. Built in 1910 under the direction of two of the greatest architects of the day, Hôtel Lutetia was the first Art Deco hotel in Paris. Situated in the literary and artistic centre of Paris, Saint-Germain-des-Prés, several painters and writers have stayed or made their home at the hotel including Matisse, Andre Gide, Antoine de Saint-Exupéry and Picasso. Hôtel Lutetia is within walking distance of the river Seine, the Musée d’Orsay, Notre Dame Cathedral and the delightful boutique shops and designer studios on the Left Bank.

Our opening reception will take place at the beautiful and historic Tour Eiffel and the SIRC dinner will be held at the elegant La Maison des Polytechniciens. Originally built in 1703, La Maison des Polytechniciens was originally owned and operated by Louis Béchameil, the Marquis de Nointel, who was known as a gourmet and a discerning art lover. A bit of trivia: Bechamel sauce bears his name.

Our utmost thanks go to our host committee, led by Anja Droege of Marccus Partners, which has done a fabulous job in making the arrangements for our conference. We look forward to seeing you in Paris, and to your active involvement in our conference programmes and in SIRC.

JudithElkin DavidJennyCo-Chairs of the IBA Section on Insolvency, Restructuring and Creditors’ Rights (SIRC)

Associate social event sponsor

Welcome reception and cocktail dinner kindly hosted by

Conference dinner sponsor

Champagne sponsor for the welcome reception

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Monday 23 May

0800 – 1700 Registration

0900 – 0915 Welcome from section and conference Co-Chairs

SIRC Co-ChairsJudithElkin Hayes and Boone LLP, New York; Co-Chair, IBA Insolvency, Restructuring and Creditors’ Rights Section (SIRC)David Jenny VISCHER AG, Basel, Switzerland; Co-Chair, IBA Insolvency, Restructuring and Creditors’ Rights Section (SIRC)

Conference Co-ChairsAnjaDroege PekkaJaatinen

0915 – 1245The financing of debtors and insolvent entitiesPresented by the by the SIRC Enforcement of Creditors’ Rights Subcommittee

When a borrower or portfolio company is in financial distress, and liquidity is drying up, the most critical first step in preserving value, either for a reorganisation or an orderly liquidation, is finding adequate financing on sustainable terms. During the recent credit crisis, it has been extremely difficult for insolvent entities to obtain the new financing needed to bring about a restructuring or orderly liquidation. While the flow of funds has slowly increased, how insolvent entities borrow new money and from whom they borrow it, differs from jurisdiction to jurisdiction. This panel, made up of lenders and borrowers, will discuss what sources of financing are available, what factors come into play, and what considerations each side has to make when considering entering into a distressed loan.

Programme

Sunday 22 May

1900 – 2300 Welcome reception and cocktail dinnerEiffel Tower

The conference starts at the most emblematic symbol of Paris, the Eiffel Tower, ‘the iron lady’. Designed by the French engineer Gustave Eiffel and completed in only 13 months for the World Fair in 1889, this 324 metre (1,063 foot) high iron structure faced massive opposition from Paris elite and was almost torn down in 1909. The Tower was saved for its use as an ideal platform for transmitting antennas. Today it is the most visited paid monument in the world and welcomes 5.5 million visitors each year. Delegates will have the unique opportunity to take advantage of the breath-taking view and to admire Paris by night whilst drinking champagne and networking. The platform can be reached by one of its lifts or, for those energetic enough, on foot – there are 360 steps to the first floor level.

Only registered delegates may attend. Please indicate on the registration form if you would like to attend. Subject to availability.

The IBA would like to thank the sponsors for their generous support of the welcome reception.

Session ChairsChristopher Donoho Hogan Lovells LLP, New York; Co-Chair, IBA SIRC Enforcement and Creditors’ Rights SubcommitteeJacques Henrot De Pardieu Brocas Maffei, Paris

SpeakersPeter A Briggs Managing Director, Alvarez & Marsal, LondonAlan Carr Managing Director, Strategic Value Partners, L.L.C. in Greenwich, CTVincentDanjoux General Partner, Rothschild & Cie, ParisThomasFox Member of the Board, Modalis Management AG & Cie, BerlinKatharina Kort Director, Bank of America Merrill Lynch, LondonJeanNunez Global Head of Asset Finance - Structured Finance, BNP Paribas, Paris

1045 – 1115 Coffee/tea break

1245 – 1400 Lunch

Keynote speakerMrsFannyLetier Sécretaire Général of CIRI (‘Comité interministériel de restructuration industrielle’), French Ministry of Economics and Finances

1400 – 1730EU insolvency regulations – a decade of lessons learnedPresented by the SIRC Insolvency Legislation Subcommittee

The EC Regulation on Insolvency Proceedings was adopted by the Council of the European Union on 29 May 2000, and came into effect throughout the EU on 31 May 2002. The regulation does not provide uniform substantive laws for each member country, but seeks rather to create a uniform approach to the choice of governing law and the determination of which country has jurisdiction to open an insolvency proceeding. The EU intends to review the European Insolvency Regulation in 2012. This panel will discuss the pros and cons of a number of possible amendments to the Regulation that could become relevant in relation to this review.

Session ChairsGregorBaer Private Practitioner, San Francisco; Co-Chair, IBA SIRC Insolvency Legislation and Reform Harmonisation SubcommitteeRobertvanGalen NautaDutilh, Amsterdam; Co-Chair, IBA SIRC Insolvency Legislation and Reform Harmonisation Subcommittee

SpeakersReinhard Dammann Clifford Chance LLP, ParisPatrickEhret Schultze and Braun, Achern, GermanyDanielHajek Achour & Hájek, Prague; Vice-Chair, IBA Insolvency Legislation and Reform Harmonisation SubcommitteeChristoph Paulus Former Dean of the Faculty of Law, Humboldt University, BerlinJean-LucVallens Judge in the Court of Appeal, Colmar, France

1530 – 1600 Coffee/tea break

1930 Drinks reception and gala dinnerLa Maison des Polytechniciens

La Maison des Polytechniciens is a magnificent 18th century mansion located in the heart of historical Paris. The menu will have classic roots, using the highest quality ingredients. The evening will provide delegates with a very special opportunity to network with colleagues in their field of interest from all over the world.

Ticket price: e95

Dress code: jacket and tie

Social event ticket reservations cannot be guaranteed unless payment has been received before 16 May, subject to availability.

Conference Co-ChairsAnjaDroege Marccus Partners, Paris; Co-Chair, IBA SIRC Enforcement and Creditors’ Rights SubcommitteePekkaJaatinen Castrén & Snellman, Helsinki; Senior Vice-Chair, IBA Insolvency, Restructuring and Creditors’ Rights Section (SIRC)

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1330 – 1700Insolvency of financial institutionsPresented by the SIRC Reorganisation of Regulated Industries Subcommittee

Since 25 September 2008, over 300 banks and financial institutions have collapsed in the United States. Large numbers of bank failures have also occurred throughout Europe and Asia. To address these failures, new legislation has been passed in the US (The Dodd Frank Wall Street Reform and Consumer Protection Act) and new rules/regulations have been adopted in the EU and in other parts of the world. The panel will discuss how financial institutions can be restructured, the impact of the new laws, rules and regulations that govern the failure of financial institutions, and whether the new laws and regulations will be effective in both stemming the tide of bank failures and minimizing the impact of such failures on businesses, consumers and the global economy.

Session ChairsNunoLibanoMonteiro PLMJ, Lisbon; Co-Chair, IBA SIRC Insolvency of Regulated Business SubcommitteeJohn Sandrelli Fraser Milner Casgrain, Vancouver; Co-Chair, IBA SIRC Insolvency of Regulated Business Subcommittee

SpeakersProf Charles Booth William S Richardson School of Law, University of Hawaii, ManoaEricAlvesdeSouza AH Legal, GenevaVan Durrer Skadden Arps Slate Meagher & Flom LLP, Los AngelesMartineGerber-Lemaire Oostvogels Pfister Feyten, LuxemburgJorge Brito Pereira PLMJ, LisbonMaurice Phelan Mason, Hayes + Curran, Dublin

1500 – 1530 Coffee/tea break

1700 – 1730 SIRC semi-annual business meeting and subcommittee discussion sessions

All delegates are welcome to attend this opening meeting.

Co-Chairs, IBA Insolvency, Restructuring and Creditors’ Rights Section (SIRC)JudithElkin David Jenny

Agenda for SIRC business meeting• Goalsfor2011–12• Businessplan• SIRCleadershipupdate• Publications• Website• ReportofMembershipOfficer• ReportofUNCITRALLiaisonOfficer• DubaiprogrammesessionsNovember2011• Newprojects• FutureConferences–locationsandprogrammes• Opendiscussiononothermattersrelatingtothesection

Tuesday 24 May

0815 – 1630 Registration

0845 – 0915 Status Report from UNCITRAL Working Group V and World Bank Task Force

SpeakersGregorBaer LewisKruger Stroock & Stroock & Lavan LLP, New York; UNCITRAL Liaison, IBA Insolvency, Restructuring and Creditors’ Rights Section (SIRC)

0915 – 1215Valuation studies: modelling and valuing a financially distressed companyPresented by the SIRC Reorganisation and Workouts Subcommittee

The value of an insolvent entity is directly determinative of the recovery of creditors in any insolvency proceedings. But the answer to the question: ‘What is the entity worth?’ is far from simple. Value depends on many factors, including the cash flow of the business, the type of industry the entity is involved in and the usefulness of the business to potential purchasers and the debtor itself. A panel of investment bankers and lawyers will discuss the different methodologies used in valuing an insolvent entity, how financial statements are read and analysed, and how such valuations (including the often conflicting valuations obtained by different creditor constituencies and the debtor) are used by litigants, by the court and for the development of a more viable capital structure.

Session ChairsHoward Rosen CA, CBV, Senior Managing Director, F T I Consulting, TorontoMikeWeinczok Cassels Brock & Blackwell LLP, Toronto; Vice-Chair, IBA SIRC Reorganisation and Workouts Subcommittee

SpeakersPaul Harner Latham & Watkins LLP, New YorkHoward RosenNoahRubins Freshfields Bruckhaus Deringer LLP, ParisIslam Zughayer Managing Director, Berenson & Company, New York

1030 – 1100 Coffee/tea break

1215 – 1330 Lunch

Exhibitors Supporter

®

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Date22–24 May 2011

VenueHôtel Lutetia45 Boulevard Raspail 75006 ParisFrance Tel: +33 (1) 49 544 646 Fax: +33 (1) 49 544 600 E-mail: [email protected]

LanguageAll working sessions and conference materials will be in English.

How to registerRegister online by 13 May at www.int-bar.org/conferences/conf357 and make payment by credit card, to avail of the ten per cent online registration discount or complete the attached registration form and return it to Jenni Cahill at the IBA together with your payment. You should receive e-mailed confirmation of your registration within five days; if you do not then please contact Jenni Cahill at [email protected].

Information

FeesOnline registrations received: on or before after 8 April 8 April until 13 May

IBA member e660 e770

Non-member* e830 e940

Young lawyers (under 30 years) e495 e940

Academics/judges (full time) e495 e940

Public lawyers e495 e940

Corporate counsel e595 e940

Conference dinner e95 e95

After 13 May registrations must be received in hard copy at the IBA office.

Hard copy registration forms and fees received: on or before after 8 April 8 April

IBA member e730 e855

Non-member* e920 e1045

Young lawyers (under 30 years) e550 e1045

Academics/judges (full time) e550 e1045

Public lawyers e550 e1045

Corporate counsel e660 e1045

Conference dinner e95 e95

* By paying the non-member fee, we welcome you as a delegate member of the IBA for the year in which this conference is held, which entitles you to the following benefits: 1) Password access to certain parts of the IBA website. 2) Receipt of IBA E-news and access to online versions of IBA Global Insight.3) Pay the member rate for any subsequent conference registrations for this

calendar year.4) Take advantage of IBA Special Offers.

If you would like to become a full or general member of the IBA, which includes membership of one committee or more – and inclusion in and access to our membership directory – we encourage you to do so now in order to register for this conference at the member rate. Full details of how to join can be found at www.ibanet.org.

The IBA offers senior lawyers a discounted registration fee. Please contact the IBA office for further information.

Full payment must be received in order to process your registration.

Fees include:• Attendanceatallworkingsessions• Conferencematerials,includinganyavailablespeakers’paperssubmitted

to the IBA before 13 May• AccesstotheaboveconferenceworkingmaterialsfromtheIBAwebsite

(www.ibanet.org) approximately seven days prior to the conference• Lunchon23and24May• Teaandcoffeeduringbreaks• Invitationtohostedwelcomereceptionon22May

Please note that registrations are not transferable.

List of participantsIn order for your name to appear in the list of participants, which will be distributed at the conference, your registration form must be received by 13 May at the latest.

Registration confirmation All documentation regarding your attendance at the conference can now be obtained from the IBA website. Upon receipt of your payment for the conference a confirmation e-mail will be sent containing instructions on how to download the documents. Registration confirmation will not be distributed by post.

The organisers may at any time, with or without giving notice, in their absolute discretion and without giving any reason, cancel or postpone the conference, change its venue or any of the other published particulars, or withdraw any invitation to attend. In any case, neither the organisers nor any of their officers, employees, agents, members or representatives shall be liable for any loss, liability, damage or expense suffered or incurred by any person, nor will they return any money paid to them in connection with the conference unless they are satisfied not only that the money in question remains under their control but also that the person who paid it has been unfairly prejudiced (as to which, decision shall be in their sole and unfettered discretion and, when announced, final and conclusive).

Continuing Professional Development/Continuing Legal EducationFor delegates from countries where CPD/CLE is mandatory, the International Bar Association will be pleased to provide a Conference Certificate of Attendance which, subject to the exact CPD/CLE requirements, may be used to obtain the equivalent accreditation in your jurisdiction.

This conference has been accredited for CPD/CLE by the Solicitors Regulation Authority of England and Wales. Delegates should ask staff at the registration desk for information as to how to obtain the hours.

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Payment of registration feesEuro: by cheque or bank draft, drawn on a euro zone bank and converted at the current rate of exchange and in favour of the International Bar Association.

OR by bank transfer to the IBA bank account number 550/00/06570631 (Sort Code 56-00-03) at the National Westminster Bank, St James’s & Piccadilly Branch, 208 Piccadilly, London W1A 2DG, United Kingdom or SWIFT address NWBKGB2L, IBAN GB58NWBK60721106570631. Please ensure that a copy of the bank transfer details is attached to your registration form.

Pounds sterling: by cheque drawn on a UK bank and in favour of the International Bar Association. Please send to: 10th Floor, 1 Stephen Street, London W1T 1AT, United Kingdom. OR by bank transfer to the IBA account number: 13270222 (Sort Code 56-00-03) at the National Westminster Bank, St James’s & Piccadilly Branch, 208 Piccadilly, London W1A 2DG, United Kingdom or SWIFT address NWBKGB2L, IBAN GB05NWBK56000313270222. Please ensure that a copy of the bank transfer details is attached to your registration form.

Use the exchange rate prevailing at the time of registration.

US dollars: by cheque converted at the current rate of exchange and drawn on a US bank and in favour of the International Bar Association. Please send to: 10th Floor, 1 Stephen Street, London W1T 1AT, United Kingdom.

OR by bank transfer to the IBA account number: 01286498 (Sort Code 56-00-03) at the National Westminster Bank, St James’s & Piccadilly Branch, 208 Piccadilly, London W1A 2DG, United Kingdom. SWIFT address NWBKGB2L, IBAN GB55NWBK60730101286498. Please ensure that a copy of the bank transfer details is attached to your registration form.

Use the exchange rate prevailing at the time of registration.

Credit card payments: by Visa, MasterCard or American Express. No other cards are accepted.

PLEASE ENSURE THAT YOUR NAME AND ‘CON357PARIS’ APPEAR ON ANY TRANSFER OR DRAFT.

No Deductions or WithholdingsAll fees payable to us by you in accordance with the terms contained in this ‘information’ section shall be paid free and clear of all deductions or withholdings whatsoever.

If any deductions or withholdings are required by law to be made from any fees payable to us by you under the terms contained in this ‘information’ section you shall pay such sum as will, after the deduction or withholding has been made, leave us with the same amount as we would have been entitled to receive in the absence of any such requirement to make a deduction or withholding.

If we obtain the benefit of any tax credit or other relief by reference to any such deductions or withholdings, then we shall repay to you such amount as, after such repayment has been made, will leave us in no worse position than we would have been had no such deductions or withholdings been required.

Cancellation of registrationIf cancellation is received in writing at the IBA office by 26 April fees will be refunded less a 25 per cent administration charge. We regret that no refunds can be made after this date.

Travel arrangements and visasParticipants are responsible for making their own travel arrangements. It is recommended that you check your visa requirements with your local embassy or consulate. We are unable to dispatch visa invitation letters to support your visa application prior to receipt of your registration form and full payment of registration fees.

Please apply for your visa in good time.

Disabled accessPlease notify us if you require special assistance.

Promotional literaturePlease note that no individual or organisation may display or distribute publicity material or other printed matter during the conference, unless by prior arrangement with the IBA. Organisations and companies wishing to discuss promotional opportunities should contact the Sponsorship Department at the IBA ([email protected]).

Hotel accommodationA limited number of rooms have been reserved at the Hôtel Lutetia for the nights of the 22 and 23 May.

Hôtel Lutetia45 Boulevard Raspail 75006 ParisFrance Tel: +33 (0) 149 544 637 Fax: +33 (0) 149 544 664E-mail: [email protected]

Rates are per room, per night and inclusive of buffet breakfast and city tax per person per day

Please see the accommodation form for the current available rates.

Please complete the attached accommodation form and send it direct to the hotel to make your reservation. The hotel requires a credit card number to secure your reservation. Please note that if you make a reservation outside the room block (before 22 May or after 23 May) the total amount due for the extra nights booked will be charged in full in advance of your stay.

Cancellation and no-show policyReservations can be partially or totally cancelled without any fees until 72 hours prior to the arrival date. Please note that in the event of any cancellations, no-shows or early departure rooms will be charged to the individual guest’s credit card given at the time of booking.

Please note that any reservation made after 1 May will be subject to availability and cannot be guaranteed at the special IBA rate. As a limited number of rooms have been blocked at the hotel, availability cannot be guaranteed once the room block is full.

Delegates are responsible for making accommodation reservations directly with the hotel and entering into an agreement with the hotel regarding credit card guarantees, cancellation terms and conditions, and room rates (should these differ from the special IBA rate). The IBA cannot accept responsibility for hotel accommodation disputes between a delegate and the hotel.

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Continued overleaf

Registration form17th Global Insolvency and Restructuring ConferenceOnly the Strong Will Survive: Financing and Valuing Distressed Entities

22–24 May 2011, Hôtel Lutetia, Paris, France

Please read the ‘Information’ section before completing this form and return it together with your payment to Jenni Cahill at the address overleaf.

Personal details (Please attach your business card or write in block capitals)

Title _____________ Given name _________________________________________ Family name ____________________________________________

Name and country to be shown on badge (if different from above) ____________________________________________________________________

IBA membership number (if applicable) __________________________________________________________Date of birth ______________________

Firm/company/organisation ______________________________________________________________________________________________________

Address _______________________________________________________________________________________________________________________

______________________________________________________________________________________________________________________________

Tel ___________________________________________________________ Fax ____________________________________________________________

E-mail ________________________________________________________________________________________________________________________

Special dietary requirements _____________________________________________________________________________________________________

TooBTAINATENPERCENTDISCoUNToNTHEFEESBELoW,

PLEASEREGISTERBy13 MAyoNLINEATWWW.INT-BAR.ORG/CONFERENCES/CONF357

IBAMEMBERSCANREGISTERoNLINEBy8 APRIL FOR e660

PLEASESEE‘INFoRMATIoN’FoRFURTHERoNLINEREGISTRATIoNDETAILS.

Registration form and fees received: On or before After Amount payable

8 April 8 April

IBA member e730 e855 e

Non-member* e920 e1045 e

Young lawyers (under 30 years) e550 e1045 e

Academics/judges (full time) e550 e1045 e

Public lawyers e550 e1045 e

Corporate counsel e660 e1045 e

Social functions

Sunday 22 May

Welcome reception and cocktail dinner I would like to attend the welcome reception and cocktail dinner at the Eiffel Tower

Monday 23 May

Drinks reception and gala dinner Number of tickets x ______________ @ e95 e

Socialfunctionticketreservationsaresubjecttoavailabilityandcannotbeguaranteedunlesspaymenthasbeenreceivedbefore16 May 2011.

THEIBAoFFERSSENIoRLAWyERSADISCoUNTEDREGISTRATIoNFEE.

PLEASECoNTACTTHEIBAoFFICEFoRFURTHERINFoRMATIoN.

*JoINTHEIBAToDAyANDREGISTERFoRTHISCoNFERENCEATTHEIBAMEMBERRATE.

PLEASEFINDTHEMEMBERSHIPAPPLICATIoNFoRMATWWW.IBANET.ORG.

TOTAL AMOUNT PAYABLE e

FULLPAyMENTMUSTBERECEIVEDINoRDERToPRoCESSyoURREGISTRATIoN.

PLEASE NOTE THAT REGISTRATIONS ARE NOT TRANSFERABLE.

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IBA listings are provided to relevant third parties for marketing purposes. The IBA will treat your personal information with the utmost respect and in accordance with UK data privacy laws.

If you are agreeable to passing on your details, please tick this box

If you do not wish to receive IBA information and materials, please tick this box

Your details will however be included in the list of participants.

Please send the completed form to:

International Bar Association

Jenni Cahill10th Floor, 1 Stephen Street, London W1T 1AT, United Kingdom

Tel: +44 (0)20 7691 6868 Fax: +44 (0)20 7691 6545 Or +44 (0)20 7691 6544E-mail: [email protected] www.ibanet.org

For office use only Payment ______________________ Banked _______________________Processed_____________

Payment details

I enclose a cheque/bank draft made payable to the IBA for the total amount payable.

I have transferred to the IBA bank account the total amount payable and have attached a copy of the bank transfer details.

Please charge the total amount due to my (delete as appropriate) Visa/MasterCard/American Express. Other cards are not accepted.

Card number ______________________________________________________________ Start date _______________ Expiry date _______________

Name of cardholder ____________________________________________________________________________________________________________

Signature _________________________________________________________________ Date _______________________________________________

Where did you first hear about this conference?

IBA CONFERENCE OTHER CONFERENCE DIRECT MAIL INTERNET ADVERTISEMENT

E-MAIL EDITORIAL RECOMMENDATION OTHER

Please provide further details, quoting code (if applicable)

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Superior King single occupancy EUR 280 per room, per night SOLD OUTSuperior King double occupancy EUR 290 per room, per night SOLD OUTDeluxe King single occupancy EUR 340 per room, per night SOLD OUTDeluxe King double occupancy EUR 350 per room, per night SOLD OUT

Superior room single occupancy EUR 320 per room, per nightSuperior room double occupancy EUR 330 per room, per night

Page 10: Only the Strong Will Survive: Financing and Valuing ......Musée d’Orsay, Notre Dame Cathedral and the delightful boutique shops and designer studios on the Left Bank. Our opening

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IBA international arbitration practice July 2011

IBA international joint ventures July 2011

GlobalProfessionalTrainingwiththeInternationalBar AssociationandtheCollegeofLaw–thepracticalroute to enhance your career.

“I enjoyed the practical value of subjects studied, and the ability to veer away from a heavily academic approach.”

“It has exceeded my expectations…this course in its entirety is the best study experience that I have had.”

“The i-tutorials are very easy to use and informative, an excellent way for busy practitioners to learn.”

For further information, and to register please e-mail: [email protected]

www.ibanet.org/Education_and_Internships/LLM/LLM_Home.aspx

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International Bar Associationthe global voice of the legal profession

The International Bar Association (IBA), established in 1947, is the world’s leading organisation of international legal practitioners, bar associations and law societies. The IBA influences the development of international law reform and shapes the future of the legal profession throughout the world. It has a membership of over 40,000 lawyers and almost 200 bar associations and law societies spanning all continents. It has considerable expertise in providing assistance to the global legal community as well as being a source of distinguished legal commentators for international news outlets.

Grouped into two divisions – the Legal Practice Division and the Public and Professional Interest Division – the IBA covers all practice areas and professional interests, providing members with access to leading experts and up-to-date information. Through the various committees of the divisions, the IBA enables an interchange of information and views among its members as to laws, practices and professional responsibilities relating to the practice of business law around the globe. Additionally, the IBA’s high-quality publications and world-class conferences provide unrivalled professional development and network-building opportunities for international legal practitioners and professional associates.

The IBA’s Bar Issues Commission provides an invaluable forum for IBA member organisations to discuss all matters relating to law at an international level.

The IBA’s Human Rights Institute works across the Association to promote, protect and enforce human rights under a just rule of law, and to preserve the independence of the judiciary and the legal profession worldwide.

Other institutions established by the IBA include the Southern Africa Litigation Centre and the International Legal Assistance Consortium.

Section on Insolvency Restructuring and Creditors’ Rights overviewThe Section on Insolvency, Restructuring and Creditors Rights is the most prominent international association of lawyers interested in insolvency and creditors’ rights law. Members are encouraged to participate actively in the Section’s work both at its semi-annual conferences and, throughout the year, through the work of its Subcommittees and through articles in the Section’s journal ‘Insolvency and Restructuring International’.

The Section serves as an Official Observer to the UNCITRAL Working Group on Insolvency Law, which it has assisted in developing the UNCITRAL Model Law on Cross-Border Insolvency and with which it is currently working to identify areas for harmonisation of domestic insolvency laws, aimed at ensuring certainty and effectiveness in cross-border trade and other financial transactions. The Section works closely, on these and other efforts, with other multinational institutions concerned with insolvency, such as the World Bank, the International Monetary Fund, the Asian Development Bank and the Group of Thirty, as well as with organisations of insolvency practitioners such as INSOL International, the Association of European Insolvency Practitioners and national insolvency specialist organisations.

European Regional Forum overviewThe European Regional Forum was established in 1989 to provide a focus originally on the work undertaken by the IBA in developing the practice under changing legal systems of lawyers in Eastern and Central Europe. The Forum was also intended to act as a channel for IBA communication with the bar associations of these local lawyers.

Since 2004 the Forum has been developing and strengthening the existence of the IBA within the whole of Europe by promoting the goals of the IBA to members, non-members and others, disseminating professional know-how, and assisting the committees and other constituencies of the IBA to increase their presence in the different sub-regions of Europe, including parts of North Africa and the Middle East.

The goals of the Forum include addressing current and long-term needs of professional organisations and individual members within the geographical reach of the Forum, as well as increasing membership and participation in the IBA and integrating them within the organisation. The Forum will also facilitate cross-border activity between lawyers and bars in different European countries. The Forum has a particular focus on cross-disciplinary activities.

Contact information:International Bar Association10th Floor, 1 Stephen Street, London W1T 1AT, United KingdomTel: +44 (0)20 7691 6868 Fax: +44 (0)20 7691 6544www.ibanet.org

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LongestablishedasthetradingandcommercialhuboftheMiddleEast,Dubaicombinestheexcitementofabustlingcommercialcentrewiththewideopenspacesofaluxuriousresort.Locatedatthecross-roadsofAsia,Europe and Africa, and offering facilities of the highest international standards combined with the charm and adventure of Arabia, Dubai is sure to be another premier destination for the IBA Annual Conference 2011.

To register, please contact:

International Bar Association

10th Floor, 1 Stephen Street, London W1T 1AT, United Kingdom

Tel: +44 (0)20 7691 6868 Fax: +44 (0)20 7691 6544

www.ibanet.org/conferences/Dubai2011

What will Dubai 2011 offer?• Thelargestgatheringoftheinternationallegalcommunityintheworld–ameetingplaceofmorethan

4,000 lawyers and legal professionals from around the world

• Morethan180workingsessionscoveringallareasofpracticerelevanttointernationallegalpractitioners

• Theopportunitytogeneratenewbusinesswiththeleadingfirmsintheworld’skeycities

• Registrationfeewhichentitlesyoutoattendasmanyworkingsessionsthroughouttheweekasyouwish

• Upto25hoursofcontinuinglegaleducationandcontinuingprofessionaldevelopment

• Avarietyofsocialfunctionsprovidingampleopportunitytonetworkandseethecity’skeysights

• Integratedguestprogramme

• Excursionandtoursprogramme

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