Nussbaum and Ryan Speak at Global Distressed Debt Investor Forum
Baltimore – Whiteford, Taylor & Preston (WTP) attorneys, Paul M. Nussbaum and William F. Ryan, Jr., recently spoke at the International Quality and Productivity Center's (IPCQ) Global Distressed Debt Investor Forum – Investment Strategies, Risk Assessment and Turnaround Management which took place at The Westin New York at Times Square on September 17-19, 2007.
Paul M. Nussbaum, head of the firm's Bankruptcy section, and William F. Ryan, Jr., head of the firm's Business Litigation section, presented on “Maximizing Your Return: When to Buy and Sell Distressed Debt”, on the first day of the forum. The presentation covered the following:
- Timing the purchase and sale of distressed debt to maximize the investor's return;
- Monitoring of the investment while owned;
- Advantages/disadvantages of being an active or passive holder;
- Aspects of buying and monitoring secured versus unsecured positions;
- Issues related to holding a debt position in combination with an equity position; and
- New liquidity shortages.
Nussbaum and Ryan are seasoned experts in advising clients on matters related to distressed debt and business restructurings, bankruptcy, and commercial litigation. In the spring of 2007, they experienced one of their largest client victories to date. In a nationally recognized corporate governance case reported by the Wall Street Journal “to be among the largest out-of-pocket payments by outside directors following corporate fraud allegations,” Nussbaum and Ryan obtained more than $82 million in recoveries from former officers, directors, and accountants of Just for Feet, Inc., once the nation's second largest athletic shoe retailer, on behalf of a trustee appointed by the United States District Court in Delaware. (The article titled “Settlement in Just For Feet Case May Fan Board Fears,” appears in the April 23, 2007 edition of the Wall Street Journal.)
The Global Distressed Debt Investor Forum, a three-day series of panel discussions, presentations, and case studies, is designed to create a dialogue among investors and portfolio managers concerning available investment opportunities, emerging asset sectors, and likely risks and returns. The forum is hosted by the International Quality and Productivity Center.
Whiteford, Taylor & Preston, LLP is dedicated to helping clients to achieve their business goals through strategic legal counsel. Founded in 1933, the firm has grown to over 160 attorneys in offices throughout Maryland, the District of Columbia, Virginia, and Delaware. For more information, please visit our website at www.wtplaw.com.