Agenda

Wharton-Harvard Insolvency & Restructuring Conference
Huntsman Hall, 8th Floor 3730 Walnut Street
September 8–9, 2023

Friday, September 8, 2023

8:15 – 9:00 Breakfast Harker
9:00 – 9:10 Welcome Robertson Welcome: David Skeel (University of Pennsylvania) Vince Buccola (University of Pennsylvania)
9:15 – 10:45 Papers A Robertson An Experimental Study of Bidder and Creditor Behavior in Bankruptcy Auctions
Rajesh Kumar Acha (Xavier School of Management, XLRI Jamshedpur, India)
Creditor Rights and Legal Transaction Costs
Dhruv Aggarwal (Northwestern University)
The Externalities of Fire Sales: Evidence from Collateralized Loan Obligations
Shohini Kundu (University of California, Los Angeles)
Garrett The Fiduciary Duties of the Bankruptcy Trustee
Christopher Hampson (University of Florida)
The Bankruptcy Rush: Rethinking Director Duties in Crisis
Adi Marcovich Gross (University of Pennsylvania)
Debt as Corporate Governance
Tomer Stein (University of Tennessee)
10:45 – 11:00 Break Harker
11:00 – 12:30 Papers B Robertson The Human-Capital Costs of Chapter 11: Evidence from the Healthcare Industry
Samuel Antill (Harvard University)
Employee Bankruptcy Trauma
Jared Ellias (Harvard University)
Why are Corporate Directors Not Asking for Help? An Investigation into the Failure of the Rescue Culture?
Emilie Ghio (Edinburgh Napier University)  & Donald Thomson (Edinburgh Napier University)
Garrett Silencing Litigation Through Bankruptcy
Pamela Foohey (Yeshiva University)
Designing Designer Bankruptcy
Michael Francus (Harvard University)
The False Gatekeeper of Financial Distress
Brook Gotberg (Brigham Young University)
12:30 – 1:30 Lunch Harker
1:30 – 3:00 Papers C Robertson Insolvency Law Reform within a Convergent Transnational Order: A Responsive Approach
Bolanle Adebola (University of Reading)
Global Zombies: A New Type of Corporate Resiliency
Edward Altman (New York University)
The Myth of Debtor-Friendly or Creditor-Friendly Insolvency Systems
Aurelio Gurrea-Martinez (Singapore Management University)
Garrett CLO Incentives in Distress
Sarah Paterson (The London School of Economics and Political Science)
Absolute Priority and Valuation in Bankruptcy
Michael Simkovic (University of Southern California)
Collapsing the Corporate Group
Richard Squire (Fordham University)
3:00 – 3:15 Break Harker
3:15 – 4:15 Plenary Panel Robertson Investing in and around Distress: The Changing Landscape
Samantha Fang (D.E. Shaw)
Daniel Ehrmann (King Street)
Lauren Krueger (KKR)
Kristin Mugford (Harvard University)
Aaron Rosen (Ares)
Moderator: Mark Roe (Harvard University)
4:15 – 4:30 Break Harker
4:30 – 6:00 Papers D Robertson Bankruptcy Spillovers in Firm Payout Policy
Ilona Bastiaansen (University of Connecticut)
Are Direct Lenders More Like Banks or Arm’s-Length Investors? Evidence from Loan Agreements and COVID-Related Distress
Young Soo Jang (University of Chicago)
Down the Tubes: Proximity to Bankruptcy and Industrial Water Pollution
Michael Ohlrogge (New York University)
Garrett Debt Tokens in Bankruptcy
Christopher Odinet (University of Iowa)
Bankruptcy Contracting in the Legal Cannabis Industry
William Organek (City University of New York)
Bankruptcy and the Rise of Market Valuation
Mark Roe (Harvard University)
6:00 – 7:00 Reception Harker
7:00 – 8:30 Dinner Robertson Remarks: Douglas Baird (University of Chicago)

 

Saturday, September 9, 2023

8:00 – 8:30 Breakfast Harker
8:30 – 10:00 Papers E Robertson Standardizing and Unbundling the Sub Rosa DIP Loan
Kenneth Ayotte (University of California, Berkeley)
Restructuring Attributes
Diane Lourdes Dick (University of Iowa)
Loan-to-Own 2.0 and the Shifting Baseline for DIP Financing
Robert Miller (University of South Dakota)
Garrett The Information Content of Central-Bank Disclosures: Firm-Level Evidence from Eurosystem Collateral Haircuts
Aleksander Aleszczyk (New York University)
Bank Bankruptcy in Canada: A Comparative Perspective (2.0)
Stephanie Ben-Ishai (York University)
Flight to Safety in the Regional Bank Crisis of 2023
Jennifer Dlugosz (Federal Reserve Board)
10:00 – 10:15 Break Harker
10:15 – 11:15 Plenary Panel Robertson The Future of Chapter 11
Martin Bienenstock (Proskauer)
Andrew Dietderich (Sullivan & Cromwell)
Steven Serajeddini (Kirkland & Ellis)
Robert Stark (Brown Rudnick)
Moderator: David Skeel (University of Pennsylvania)
11:15 – 11:30 Break Harker
11:30 – 12:30 Papers F Robertson Price Discipline in the Leveraged Loan Market: Evidence from Uptiers
Vince Buccola (University of Pennsylvania)
Insiders vs. Outsiders: Arm’s-Length Creditor Rights and Firm Investment
Martin Kornejew (University of Bonn)
Garrett Black Bankruptcy / White Bankruptcy
Matthew Bruckner (Howard University)
Chapter 11 Mediation
Laura Coordes (Arizona State University)
12:30 – 1:30 Lunch Harker  Farewell: Mark Roe (Harvard University) & Jared Ellias (Harvard University)