Counting the Costs of Professional Missteps

TMA Webinar features former president of American Bankruptcy Institute

CHICAGO, May 12, 2011 /PRNewswire-USNewswire/ -- A U.S. bankruptcy judge's opinion involving Universal Building Products is a reminder of a cardinal rule for professionals seeking work with creditor committees: No solicitation for proxies to secure an assignment.

Turnaround Management Association's Webinar, Busted for Solicitation: Lessons from Universal Building Products, presents experts who will discuss possible ethical breaches in the maneuver by a law firm vying to represent the committee in that case.  The online educational program is scheduled Thursday, May 19, from noon to 1 p.m. EDT.

The panel, which includes a former president of the American Bankruptcy Institute, also will cover potential ramifications on standards of disclosure for firms engaged in the tussle for committee assignments.

Panel members are:

• Moderator, Mary Ellen Welch Rogers, Goulston & Storrs, Boston
  Rogers focuses on complex asset-based loan documentation, inter-creditor and subordination agreements, loan workouts and DIP financing in a career spanning more than 15 years. She represents secured and unsecured creditors, as well as debtors.
• Robert J. Keach, Bernstein, Shur, Sawyer & Nelson, Portland, Maine
  A shareholder, Keach represents various parties in workouts and bankruptcies, including debtors, creditors, creditors' committees, lessors and third parties acquiring company assets.  A fellow of the American College of Bankruptcy, Keach serves on the American Bankruptcy Institute's Management Committee, Executive Committee and Board of Directors.
• Peter A. Furman, Getzler Henrich & Associates LLC, New York
  In his 25-year career in crisis and turnaround management, Furman has served as crisis manager, advisor, chief restructuring officer and chief executive officer for publicly- and privately-owned businesses associated with manufacturing, distribution, retail, media and other industries.
• Timothy Dacey, Goulston & Storrs, Boston
  Dacey's practice involves business litigation in state and federal courts and before arbitration panels.  He has represented law firms in professional malpractice actions and handled construction and utility disputes, among others. He is a member of the Massachusetts Supreme Judicial Court's Advisory Committee on the Rules of Professional Conduct.

Chicago-based TMA, www.turnaround.org, the only international nonprofit dedicated to corporate restructuring, turnaround management and distressed investing, has more than 9,000 members including turnaround practitioners, attorneys, accountants, investors, lenders, venture capitalists, appraisers, liquidators, executive recruiters and consultants in 47 chapters worldwide.

SOURCE Turnaround Management Association

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