Turnaround Challenges & Creative Approaches to Stabilizing the Business

Moderator, Jacen Dinoff, Principal & Co-Founder, KCP Advisory Group

Mr. Dinoff is highly-regarded as a corporate restructuring and turnaround management advisor with over 16 years of hands-on accounting, finance, management and operations experience that complements his technical expertise in bankruptcy case administration and financial advisory.

Steven Agran, Managing Director, Carl Marks Advisors

Mr. Agran has deep experience providing turnaround and interim management services to financially distressed companies. He provides financial and operational advisory services to company ownership, boards of directors, private equity groups, lenders and investors focusing on workouts, loan restructurings, strategic planning, bankruptcy, and mergers and acquisitions. Mr. Agran works with company management to develop and implement business plans that create profitable growth and increase enterprise value.

Nicholas Jalowski, Managing Director, CTP, CMC, Cambridge Financial Services, LLC

In addition to his role in overseeing the management of the firm, he is a practitioner specializing in strategic consulting to firms in need of guidance in turnaround management, corporate revitalization, financing negotiations, loan restructuring and/or workout management. He is also occasionally engaged as an expert in litigations involving financial issues.

Cynthia Romano, Global Director, Restructuring and Dispute Resolution Practice, CohnReznick LLP

Cynthia Romano is a Global Director of CohnReznick Advisory's Restructuring and Dispute Resolution Practice. She has more than 25 years of experience in performance improvement, turnaround management, transaction support, and investment analysis. Cynthia’s areas of expertise include liquidity management, profit improvement through operational restructuring, organizational and process redesign, capital sourcing, and business and creditor workout/management.

Frank Turner, Chief Advisor of Restructuring, SCALE Physician Group

Frank brings 30 years of experience to SCALE and has been involved in a variety of corporate debt restructurings totaling more than $12 billion. He has successfully negotiated with first lien, second lien, unsecured, and subordinated debt holders, and equity owners. His turnaround transactional experience encompasses both in and out-of-court restructurings, leading DIP and exit financings, arranging equity rights offerings, negotiating debt-to-equity exchanges, mergers & acquisitions, and selecting new boards of directors and management teams.

Session Sponsored By

Cannabis & Insolvency

Co-Moderator, Claudia Springer, Partner, Reed Smith LLP

Claudia is a prominent and nationally recognized restructuring and bankruptcy lawyer, having practiced in this area for 40 years. Her practice encompasses representing companies experiencing financial challenges and crisis as well as leading creditors, private equity firms, hedge funds, creditors’ committees, secured lenders and members of boards of directors of companies in distressed situations. She is known as a tireless, tenacious and effective advocate for her clients but also for her practical approach to solving problems and achieving consensus among disparate factions. She regularly represents companies and creditors involved in out of court restructurings, receiverships and workouts and has a deep knowledge of certain industries including healthcare, retail, hospitality, real estate development, and manufacturing, to name a few.

Co-Moderator, Drew Mooney, Managing Director, Forensic & Litigation Consulting, FTI Consulting

Drew Mooney is a Managing Director at FTI Consulting and is based in Dallas. Mr. Mooney provides economic, financial, statistical and valuation analysis to clients, including those involved in litigation, arbitration, mediation and other contexts where parties are engaged in complex business disputes. He has more than 15 years of experience in providing economic and financial analysis to complex business disputes involving intellectual property, securities class actions, breach of contract, business valuation and forensic accounting issues.

Mark Connot, Office Managing Partner, Chair of UAS/Drones Practice Group, Fox Rothschild LLP

Mark, Office Managing Partner of Fox's Las Vegas Office, has a broad-based litigation practice in federal and state courts focusing on complex commercial litigation and business disputes, including shareholder derivative actions, partnership and shareholder disputes and business torts, commercial transactions, complex real estate issues, banking and lender issues, and labor and employment.

Jay Krasoff, Managing Director, Chiron Financial LLC

One of the Firm’s founders, Mr. Krasoff is responsible for the strategic direction of the firm and marketing the firm’s corporate finance and restructuring practice. Mr. Krasoff has led engagements for both public and private entities. His engagements for corporate finance have included sell-side advisory, buy-side advisory, valuation opinions, acquisition financings, and growth financings.

Scott Moskol, Partner | Co-Chair, Cannabis Business & Law Advisory | Co-Chair, Financial Restructuring & Distressed Transactions, Burns & Levinson LLP

Scott Moskol is a partner and co-chair of the firm's Financial Restructuring & Distressed Transactions and Cannabis Business & Law Advisory practices, and a member of the Corporate and Finance practices. He has developed a national platform representing and counseling clients with respect to all legal issues that may arise in restructurings, workouts, bankruptcies, receiverships and other insolvency-related matters.

Todd Sherer, Business Development, Entrepreneur Growth Capital

During this period, he has helped a variety of companies ranging from startups to turnarounds. His efforts have resulted in over $150 million of various types of corporate financings. He is responsible for Business Development for Entrepreneur Growth Capital. Todd was previously a Business Development Officer for Alpine Commercial Capital and Unitech Capital.

Session Sponsored by

Judges Roundtable

The Judge’s Roundtable will cover the following topics: Use of the independent director and attendant issues and concerns; Exculpation/Injunctions; Impact, Implications and Enforcement of PSA/RSA; Administrative Insolvency; Rent Deferral/Case Suspension and Mothballing; and Changes in practice as a result of pandemic – virtual do’s and don’ts and other practice tips.

Moderator, Andrew Silfen, Chair, Bankruptcy and Financial Restructuring Group, New York Managing Partner, Arent Fox LLP

Andrew has extensive experience in all aspects of financial restructurings, distressed situations, and bankruptcy. Andrew has a renowned practice representing creditors’ committees, indenture trustees, agents, and bondholders in bankruptcy proceedings, as well as acquirors of and investors in troubled, distressed, and bankrupt companies. Andrew has extensive experience representing strategic and control investors. He has played a prominent role in large and small restructurings and bankruptcies throughout the United States, and his broad-based practice and experience have enabled him to devise unique and innovative solutions to complex matters.

Co-Moderator, Beth M. Brownstein, Partner, Arent Fox LLP

Beth represents committees of unsecured creditors and retired employees, secured creditors, indenture trustees, bondholder and noteholder groups, and other entities in bankruptcy reorganization and liquidation proceedings.

Honorable Sean H. Lane, U.S. Bankruptcy Court, Southern District of New York

Sean H. Lane was sworn in as a United States Bankruptcy Judge for the Southern District of New York on September 7, 2010. Judge Lane earned his B.A. from New York University College of Arts & Science in 1987 and his J.D. degree from New York University School of Law in 1991.

Honorable David R. Jones, Chief Bankruptcy Judge, U.S. District & Bankruptcy Court, Southern District of Texas

David R. Jones was sworn in as a bankruptcy judge for the Southern District of Texas on September 30, 2011. Judge Jones was appointed as chief judge in 2015. Prior to taking the bench, Judge Jones was a partner in the bankruptcy group of Porter Hedges, LLP.

Judge Jones received an LLM from Duke University in 2018, his Juris Doctor from the University of Houston in 1992 where he served as editor-in-chief of the HOUSTON LAW REVIEW. Judge Jones received his Master of Business Administration from Southern Methodist University in 1986 and his Bachelor of Science in Electrical Engineering from Duke University in 1983.

Honorable Keith L. Phillips, Bankruptcy Judge, U.S. Bankruptcy Court, Eastern District of Virginia

Keith L. Phillips is a judge for the United States bankruptcy court, Eastern District of Virginia. He was appointed to the court on August 26, 2013, and his term will expire on August 25, 2027.

Honorable Christopher S. Sontchi, Chief Bankruptcy Judge, U.S. Bankruptcy Court, District of Delaware

Christopher S. Sontchi was appointed as a United States Bankruptcy Judge for the District of Delaware in 2006 and is a frequent speaker in the United States and abroad on issues relating to corporate reorganizations. He is a Lecturer in Law at The University of Chicago Law School and an Adjunct Professor of Law at Widener University Delaware Law School.

Honorable James J. Tancredi, U.S. Bankruptcy Court, District of Connecticut

James J. Tancredi was sworn in as a United States Bankruptcy Judge for the District of Connecticut on September 1, 2016. Prior to his appointment to the bench, Judge Tancredi was a commercial litigation and business restructuring partner at Day Pitney, LLP (f/k/a Day Berry & Howard) which he joined in 1979 following graduation from the University of Connecticut School of Law.

Session Sponsored By

Best Practices for Business Development in a Post-COVID World

Hear how top sales and business development professionals are overcoming the challenges brought about by the pandemic to win new business and create and nurture referral relationships.

Moderator, Essa Thiry, SVP, Change Capital

Change Capital provides creative, flexible, and timely capital solutions to the lower middle market. We actively seek out opportunities to finance businesses that provide impactful, socially responsible, and ethically-produced products and services, as well as those that are owned and successfully operated by women, minorities, veterans of the armed forces, immigrants, and the physically challenged.

Leigh Lones, SVP, Southeast Region Sales Manager, Rosenthal & Rosenthal, Inc.

Over 25 years of my working experience involves providing asset backed funding solutions to small and medium size businesses unable to obtain traditional bank facilities. Early years include commercial lending and management roles in regional and national banks with an emphasis on asset based lending. The last decade has been spent in the independent financial services space driving all aspects of a multi-national factoring business. During my time as CEO I developed and successfully implement a turnaround plan, achieved record level earnings and introduced new lending products.

Robert Meyers, President, CCO & Managing Member, Republic Business Credit

Heading the Origination and Marketing departments for Republic Business Credit, Robert puts into practice more than 15 years of commercial finance experience. Currently, Robert serves on the Executive Committee for the Secured Finance Network, previously serving as the President of the Turnaround Management Association Midwest Chapter & President of the Midwest Chapter of the Secured Finance Network. Robert is a graduate of the University of Chicago and holds an MBA from the Kellogg School of Management. Robert was awarded the SF Net’s Top 40 Under 40 Award in 2016.

David Montiel, Director of Underwriting, White Oak Commercial Finance, LLC

Mr. Montiel serves as Director of Underwriting for White Oak Commercial Finance with primary responsibility for originating and structuring ABL opportunities. Mr. Montiel has over 15 years of experience in underwriting, risk management, audit, and originations. Previously he managed cross-border trade finance facilities with financial institutions and exporters in Latin America for CIT Commercial Services.

Session Sponsored by

Industry Experts | Lending in Healthcare, Real Estate, Transportation & PACA

Moderator, Harvey Topitz, Principal & Founder, Rivers Insurance Group & RI Risk Management Services

Topitz has more than 39 years of experience in the insurance industry, placing property casualty insurance for all industries and specializing in providing coverage for those businesses hardest to insure. He began his insurance career at Liberty Mutual, where he was awarded Top Producers designation and was a member of the prestigious Millionaires Club. At BRI he introduced innovating services such as an asbestos abatement contractor’s program. While with Tanenbaum Harber, now Alliant/T&H Brokers, he excelled in the hard-to-insure employee leasing industry (PEO) and the entertainment sector. He founded Rivers Insurance Group in 2005. Topitz is a graduate of City University of New York-Brooklyn College with a Bachelor of Science degree in economics/accounting. He is a Certified Public Accountant.

Jonathan Bodner, Founder, Bodner Law PLLC | PACA Expert

Providing local, regional and national businesses, as well as individuals, with legal excellence, results and value in a wide array of transactions, litigation and bankruptcy matters throughout Long Island, the boroughs of New York City and New Jersey.

David Jencks, Attorney, Jencks Law, P.C. | Transportation Expert

David is an attorney that has been practicing for over 20 years in the areas of transportation and transportation finance. He represents Factors, Asset Based Lenders, Freight Intermediaries and Motor Carriers in transactional and litigation matters. He is a member of Delta Nu Alpha, the professional fraternity involved in the continuing education of transportation professionals and the Transportation Lawyers Association. David is also a Preferred Attorney for the International Factoring Association (IFA) and regularly speaks at their training classes, meetings and factoring industry events.

Dana Malley, VP Senior Business Development Officer, Ready Capital | Real Estate Expert

Dana Malley has spent most of his career providing financing solutions for thousands of business owners who approached him with their dreams of business ownership. His career spans more than three decades, during which he has worked with several major lending institutions, such as Key Bank, & Harvest SBF. Early in his career, he owned and operated a real estate franchise. More than thirty years ago, Dana’s began his foray into mortgage financing as a residential mortgage broker, but quickly veered toward the commercial venue where he became an expert at equipment financing, commercial real estate financing and SBA.

Ben Rutkevitz, Senior VP, Alleon Healthcare Capital | Healthcare Expert

Ben Rutkevitz’s finance career started in 2001 as a consultant for Citi Bank, Bear Stearns and Morgan Stanley.  In 2006 he started working for Satori Capital Management (“Satori”). Satori is an asset-based hedge fund that specializes in commercial real estate mortgages. He worked at Satori managing a team of loan originators as well as having responsibilities in the underwriting department. In 2009, Mr. Rutkevitz moved to Alleon Healthcare Capital (“Alleon”). His responsibilities at Alleon are as head of business development.

Ed Stucky, Owner, Republic Capital Access | Gov't Contracts

Ed has had a distinguished career in government, business and public affairs spanning over thirty years. He served in the Reagan Administration at the U.S. Customs Service, Treasury Department and White House. After leaving government he advised companies on public affairs strategies related to economic policy. Mr. Stucky holds a degree in Business Administration from the University of Kansas, has served on numerous non-profit boards including the Mid-Atlantic Operation Hope Board, the Lewinsville Presbyterian Church Foundation Board and the National Presbyterian Church Fund for Charitable Giving. In 2009, Ed formed Republic Capital Access to provide working capital solutions for US Government contractors.

Session Sponsored by

Industry Experts | Hot Topics in Apparel and Textile, and Consumer Goods

Moderator, Paul Schuldiner, EVP & Division Manager, Rosenthal Trade Capital

A seasoned financial executive, Schuldiner was recently promoted at Rosenthal to Executive Vice President and Division Manager of Rosenthal Trade Capital, bringing nearly 20 years of experience in the purchase order and trade finance business. In his role, Schuldiner will be responsible for driving the overall business strategy for Rosenthal Trade Capital.

Patrick Diercks, Partner, Clear Thinking Group

Mr. Diercks has over 15 years of experience as a consultant in the turnaround/restructuring arena dealing primarily with companies in consumer product manufacturing/distribution and retail. He has participated in numerous assignments related to cash management and operational performance improvement.

Ronald Friedman, Partner, Marcum LLP

Ronald Friedman is a partner and co-leader in the Firm’s National Retail & Consumer Products Industry group. He provides consulting services for closely held and emerging businesses in the apparel, manufacturing, distribution and retail industries.

Frank Grimaldi, Senior Managing Director, North American Sales Manager, Valuations, Gordon Brothers

With over 30 years of experience in asset valuation and commercial lending, Frank Grimaldi is responsible for developing and maintaining client relationships for Gordon Brothers’ Valuations division throughout North America. In this role, he leads a regional team of business development officers and works closely with asset-based lenders, private equity sponsors, and corporate management teams to help them understand the underlying value of an extensive range of assets including inventory, machinery and equipment, and intellectual property.

Session Sponsored by

Women’s Division Program | Sharing Perspectives on the Post-COVID Workplace

Honorable Stacey L. Meisel, United States Bankruptcy Court, District of New Jersey

The Honorable Stacey L. Meisel is a United States Bankruptcy Judge for the District of New Jersey; the first African-American selected for this position in New Jersey.

Before joining the bench, Judge Meisel was a founding member of Becker Meisel LLC and co-chaired the bankruptcy, insolvency and creditors’ rights practice.

Prior to her appointment, Judge Meisel served on the New Jersey Panel of Bankruptcy Trustees and was the first African-American woman to do so. She thrice served on the committee that recommends candidates to the Third Circuit for New Jersey bankruptcy judgeship vacancies. Judge Meisel served on the New Jersey Court Registry of Mediators and the Lawyers Advisory Committee to the Board of Judges of the United States Bankruptcy Court for the District of New Jersey. She previously served as Trustee to the Association of the Federal Bar of New Jersey, on the American Bankruptcy Institute Advisory Board for the Mid-Atlantic Bankruptcy Workshop, and as Chair of the 2011 Workshop Attendance Committee.

Rachel Ehrlich Albanese, Partner, DLA Piper

Rachel Ehrlich Albanese is a Restructuring partner in the New York Office. Rachel has nearly 20 years' experience representing secured and unsecured creditors, debtors, equity holders, purchasers of distressed assets, and other parties in interest in a wide range of restructuring matters, including cases under chapter 11 of the US Bankruptcy Code, out-of-court workouts and cross-border insolvency proceedings, as well as cases under title III of PROMESA, Puerto Rico’s restructuring law.

Ramona Morel, Director, Consumer Bankruptcy Project, City Bar Justice Center

Ramona Morel serves as the Project Director of the Consumer Bankruptcy Project, a pro bono program, at the City Bar Justice Center. Ramona’s experience includes assistance to low-income consumer debtors with filing for Chapter 7 and Chapter 13 relief. Ramona develops and provides pro bono bankruptcy training and DEI CLE programming to law firms. She also produces short consumer bankruptcy-related publications for the general public. Previously, she served as Legal Counselor on the Legal Hotline of the New York City Bar Association. Ramona received a B.A. from New York University, and J.D. from Brooklyn Law School.

Co-Moderator, Elizabeth Aboulafia, Partner, Cullen and Dykman LLP

Elizabeth M. Aboulafia is a partner in Cullen and Dykman’s Bankruptcy and Creditors’ Rights department. She represents companies as debtors in Chapter 11 bankruptcy cases in a wide range of industries, with a particular focus in the construction industry. Elizabeth also represents financial institutions, unsecured creditors and other parties in interest in Chapter 11 bankruptcy cases and out-of-court restructurings. She brings a business-oriented approach to every engagement and is skilled at helping her clients find real-world solutions to legal issues presented.

Co-Moderator, Sheryl Giugliano, Partner, Ruskin Moscou Faltischek, P.C.

Sheryl P. Giugliano is a Partner at Ruskin Moscou Faltischek, P.C., in the Corporate Restructuring & Bankruptcy practice group. Her experience includes restructuring, bankruptcy, and litigation. Sheryl works with companies facing solvency issues to identify a solution and implement a strategic response, which includes negotiating with interested parties, creditors, and shareholders, and may also include filing for bankruptcy protection, or facilitating an out-of-court wind down.

Session Sponsored By

Ethics: The Moral Dilemma of a Merchant Cash Advance, Law Changes and Best Practices

MCA loans can be issued to get cash fast, but based on the terms, can be seen as bad credit business loans and are typically more expensive than alternative financing with none of the protection. Listen in on this panel as we discuss the good, the bad, and maybe the ugly of MCAs.  Listen to best practices avoiding fraud and poor judgements and how you can make the right decision for your business.

Moderator, Gary M. Krasna, Managing Partner, Gary M. Krasna, P.A.

Gary has been practicing law in the commercial finance arena for over 36 years. Gary represents factors, banks, commercial finance companies and others in all aspects of factoring, asset based lending, commercial lending and real estate. He is president of the IFA Southeast Chapter.

Jacob Cohen, Attorney, Law Offices of Jacob A. Cohen, P.L.L.C.

When hiring my law firm to represent you, you are getting the benefit of over 20 years of litigation experience.  I have personally participated in over 100 jury trials and I have handled thousands of criminal cases.

Barry Goodman, Partner, Mazars USA LLP

Barry provides accounting, auditing, and tax services to clients in the financial services industry, focusing on broker dealers, hedge funds, private equity funds, funds-of-funds, and registered investment advisors. He possesses deep expertise in managing engagement teams, providing recommendations, and implementing solutions to structure and manage his clients’ middle and back offices. Barry spearheads professional initiatives to educate and inform members of the alternative fund industry on current trends and relevant issues. Barry graduated from the State University of New York at Albany with a Bachelor of Science in Accounting. He received a Master of Science in Taxation from Baruch College of the City University of New York.

David Lax, Retro Capital Group

Marc Mellman, Founder & Managing Director, MCA Stacking Solutions

During his more than 40 year professional career, Marc Mellman spent 20 years as a trial attorney representing banks and financial institutions, 10 years as the chief operating officer of a global energy and environmental brokerage house, and for the past 16 years as a senior executive, general counsel, and management consultant in the factoring and financial services industries.

Stuart J. Wells, Counsel, White and Williams LLP

Stuart J. Wells has more than 20 years of experience litigating complex matters for clients in federal and state courts throughout the United States. A tenacious litigator and zealous advocate, Stuart has conducted hundreds of depositions, conducted trials and evidentiary hearings, argued appeals and motions in lower courts and successfully obtained settlements for clients in a wide array of matters.

Succeeding as a Future Leader in a Pandemic and Beyond

Moderator, Kevin Zuzolo, Attorney, Akin Gump Strauss Hauer & Feld LLP

Kevin Zuzolo represents creditors’ committees and other parties in interest in complex Chapter 11 bankruptcy proceedings, with an emphasis on official creditors’ committees and liquidating trustees. He also represents secured creditors in out-of-court restructurings and financing transactions and represents various parties in bankruptcy litigation.

Jerry D'Amato, Manager, Corporate Recovery Services, CBIZ MHM, LLC

Gerard D’Amato is a manager in the Corporate Recovery Services practice with experience in business advisory and consulting services involving the fields of business advisory and consulting services involving restructuring, bankruptcy and insolvency, transactional support, creditors’ rights, litigation support and accounting and forensic investigations.

Robert Grbic, Jr., Portfolio Manager, HSBC

Robert is an AVP at HSBC Commercial Banking, Asset Based Lending group. Graduate of Marist College with a Bachelor’s Degree in Accounting and Rutgers Business School with a Masters Degree in Financial Accountancy. Licensed CPA. Possesses knowledge and understanding of finance and accounting principles, strong work ethic, excellent time management and organizational skills.

Melissa Martinez, Bankruptcy Associate, Saul Ewing, Arnstein & Lehr LLP

Melissa Martinez is a member of the Bankruptcy and Restructuring Practice in the firm's Philadelphia office. She focuses her practice on a broad range of commercial bankruptcy, workout and restructuring matters in which she represents a variety of parties, including debtors, creditors' committees, trustees, unsecured creditors, landlords and contract parties.

Session Sponsored by

Closing Remarks

Closing out this conference is fearless leader and conference chair, Cassie Rosenthal. Cassie has been an instrumental contributor to the NYIC Board for many years and has been recognized across multiple organizations for her many achievements.

Cassie Rosenthal, 2020 Smorgasbord Conference Chair & NYIC Board Member, and Executive Vice President, Rosenthal & Rosenthal

Prior to joining her family’s business in 2012, Cassie co-owned and operated two art galleries (Goff + Rosenthal) for nearly a decade; one in New York and one in Berlin. She was featured in The Wall Street Journal, the New York Times, Art+Auction, and Artnet, and was interviewed by the BBC Radio and CNBC's High Net Worth television program as a commentator on the art world. At Rosenthal, Cassie sources, analyzes and closes new business for the firm. Additionally, she has also been instrumental in developing an integrated marketing strategy for the firm, including the recent re-branding of the company.

She received her BA from Colgate University and a Masters in Art History from the Sotheby's Institute in London. Cassie is one of the founding members of the New York Advisory Board for Let’s Get Ready, a nonprofit organization that supports first generation college-bound and low-income high school students through the college-going process. Cassie is also the President of the Board of WHOW (Women Helping Other Women), a charitable professional women’s networking group supporting the betterment of women and children. Cassie is co-founder of BABE, Bad Ass Business Executives, a rapidly growing network of nearly 250 women business leaders, representing a range of industry sectors from food & bev, fashion and accessories to beauty, wellness financial services and others.