“The 'Twilight Zone' of Insolvency”

Wednesday, February 25, 2009 - 7:00am - 9:00am

John Goode, Sr., PhD chairman & CEO, AP Labs; director on more than 50 corporate boards in various industries; former dean, De Paul University and National University more

Ali Mojdehi managing partner, Baker & McKenzie; chair, Financial Restructuring, Creditors' Rights and Bankruptcy Practice Group in North America more

John Brincko CRO, Franchise Pictures; financial advisor, Special Devices Inc.; Chapter 11 trustee, National Consumer Mortgage and Metabolife International. more

This program will focus on how to pre-identify the leading indicators showing that a company might not be able to meet its obligations - that it is approaching the "zone of insolvency". What are the roles and responsibilities of the board of directors in this process? Given the current business dynamic, vigilant oversight by the board is mandatory!

Our panel of veteran experts will share their experiences with "the zone", how they have successfully navigated through it, and address:

• What questions should directors regularly and proactively be asking management about such indicators?
• How does this information flow to the board?
• How does a board evaluate the boundaries of the “zone of insolvency”? Is it with the covenants of debt? What impact do leading business indicators have?
• What is the liability of directors when in the "zone"?
• What legal preparation and response is necessary?
• What is the difference between a “workout” and a “bankruptcy”? How do director responsibilities differ in each?
• How do directors balance/manage the shift of duty from shareholders, to creditors and employees, to vendors and customers, which can be both legal and moral in nature?
• When do you leave the “zone”? How do you know when you’re back in a going concern?

And bring your questions!

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