Contact: John Hartgen
(703) 894-5935
WHARTON
SCHOOL OF BUSINESS WINS SIXTH ANNUAL CORPORATE RESTRUCTURING
COMPETITION
size='3'>November 10, 2009, Alexandria, Va. —
size='3'>A team from the University of Pennsylvania’s Wharton
School of Business won the Bettina M. Whyte Trophy at the Sixth Annual
ABI Corporate Restructuring Competition, held Nov. 6 at Northwestern
University in Chicago. The second-year MBA student winners also shared a
$6,000 cash prize. Students from the University of Minnesota Carlson
School of Management won the second-place award of $3,500, with the
University of Illinois College of Business receiving the $2,500 prize
for third place.
The competition, which is
co-sponsored by ABI and the Northwestern University Kellogg Graduate
School of Management, provided 12 of the nation’s top MBA programs
with a unique opportunity to learn by solving a real-world restructuring
case problem. The students had a week to “solve” the problem
and prepare comprehensive presentations showing their operational and
financial plans before panels of judges representing a mock board of
directors and bondholders, with a final round before mock first and
second lienholders.
Past winners of the Corporate
Restructuring Competition include the Northwestern University Kellogg
Graduate School of Management (January 2007 and November 2008), New York
University Leonard N. Stern School of Business and the Stanford Graduate
Business School. The Wharton School won the Fourth Annual Corporate
Restructuring Competition in November 2007. Other schools in this
year’s competition in addition to the finalists and past
years’ winners included the Columbia Business School, Dartmouth
College Tuck School of Business, Purdue University Krannert School of
Management, University of California-Berkeley Haas School of Management,
University of Chicago Booth School of Business, University of Virginia
Darden School of Business and the University of Michigan Ross School of
Business. Prof. Tim Thompson of the Kellogg School of Management served
as the lead faculty advisor to the competition.
In addition to the case
presentations, the competition featured an opening night dinner keynoted
by American Enterprise Institute Scholar Peter J. Wallison, AEI’s
Arthur F. Burns Fellow in Financial Policy Studies. An awards luncheon
also followed the final round of the competition.
ABI acknowledges the commitment
of Houlihan Lokey to the competition, which prepared the case problem.
ABI would also like to thank the major sponsors of this year’s
competition, including AlixPartners LLP, Bridge Associates LLC, CRG
Partners Group LLC and William Blair and Company. The sponsor of the
reception for the competition was Garden City Group, Inc.
To find out more about the
Corporate Restructuring Competition, please visit
www.abiworld.org/crc.
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ABI is the largest multi-disciplinary, nonpartisan organization
dedicated to research and education on matters related to insolvency.
ABI was founded in 1982 to provide Congress and the public with unbiased
analysis of bankruptcy issues. The ABI membership includes more than
12,300 attorneys, accountants, bankers, judges, professors, lenders,
turnaround specialists and other bankruptcy professionals, providing a
forum for the exchange of ideas and information. For additional
information on ABI, visit www.abiworld.org. For additional conference
information, visit
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