Contact: John Hartgen
703-739-0800
face='Times New Roman'
size='3'>UNIVERSITYOF
w:st='on'>PENNSYLVANIA
FOURTH ANNUAL CORPORATE RESTRUCTURING COMPETITION
November 14, 2007,
Alexandria, Va. — A team from the University of
Pennsylvania Wharton School of Business won the Bettina M. Whyte Trophy
at the Fourth Annual ABI Corporate Restructuring Competition, held Nov.
8-10 at
w:st='on'>
second-year MBA student winners also shared a $5,000 cash prize. The
Northwestern University Kellogg School of Management won the
second-place award of $3,000, with the Stern Graduate School of Business
of
w:st='on'>University
third and
w:st='on'>University
w:st='on'>Chicago
for fourth place.
The competition, which is
co-sponsored by ABI and the Houlihan Lokey international investment
banking firm, provides 11 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
University
University and the
w:st='on'>Stanford
w:st='on'>Graduate
w:st='on'>Business
w:st='on'>School
year’s competition in addition to the finalists and past
years’ winners included the University of California-Berkeley,
Dartmouth University, University of Virginia, University of Michigan,
University of Illinois and Notre Dame University. Prof. Tim Thompson of
the Kellogg School of Management serves as the lead faculty advisor to
the competition.
In addition to the case
presentations, the competition featured a sponsored networking dinner
keynoted by John McNichols, Managing Director of Research for Fidelity
Management & Research Co. An awards luncheon also followed the final
round of the competition.
ABI acknowledges the commitment
of Houlihan Lokey to the competition, led by Co-CEO Jeff
Werbalowsky. Houlihan professionals, including Scott
Turnbull, Ryan Sandahl and John Colling, in the
firm’s financial restructuring practice prepared the case
problem.
Nearly two dozen senior
attorneys and financial professionals helped judge the two-day
competition including: Bruce Blackwell (MBIA Insurance Co.),
Michael Buenzow (FTI Palladium Partners), Fred Caruso
(Development Specialists Inc.), Paul Harner (Paul, Hastings,
Janofsky & Walker), Brad Erens (Jones Day), Penny
Friedman (CIT Corporate Finance), Suzanne Kelly (Pension
Benefit Guarantee Corp.), Thomas Morrow (AlixPartners LLC),
Jon Nash (Corporate Revitalization Partners LLC), Matthew
Niemann (Cerberus Capital Management LP), Sandra Reese (Reese
Partners LLC), Rebecca Roof (AlixPartners LLC), Nancy Ross
(High Ridge Partners Inc.), David Shapiro (LaSalle Bank N.A.),
Kelly Stapleton (U.S. Trustee), Nate Van Duzer (Fidelity
Investments), Jeff Werbalowsky (Houlihan Lokey), Jacqueline
Yardley (JPMorgan Chase) and Michael Zorich (Principal Global
Investors LLC.).
To find out more about the
Corporate Restructuring Competition, please visit
title='blocked::../../2006/October 2006/www.abiworld.org/crc'
href='2006/October%202006/www.abiworld.org/crc'>
size='3'>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 11,500 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
href='http://www.abiworld.org/conferences.html'>
size='3'>http://www.abiworld.org/conferences.html.