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corporate renewal & turnaround management - CRS Turnaround ...

CORPORATE RENEWAL &

TURNAROUND MANAGEMENT

Implementation & Execution Strategies For Restoring Shareholder Wealth

Conference: 11 & 12 November 2003 • Workshops: 13 November 2003 • Merchant Court Hotel, Sydney

BENEFIT FROM THE

EXPERTISE OF 20+

TURNAROUND

AUTHORITIES

• Commonwealth Bank

• Allens Arthur

Robinson

• Helmsman Fund

• Clayton Utz

• McCaffertys

Greyhound

• Mallesons Stephen

Jaques

• Siam Premier

(Bangkok)

• Pacific Capital

Corporation

• Norgard Clohessy

• AON

• St. George Bank

• GE Commercial

• Joyce Corporation Ltd

• Coudert Brothers

• Allen Capital & Allen

Capital Private Equity

• Ferrier Hodgson

• The Venture Group

• Freehills

• Westpac

• Enron (USA)

Organised by:

INTERNATIONAL KEYNOTE ADDRESS

Stephen Cooper, Interim CEO & Chief

Restructuring Officer, ENRON (USA)

and Chairman, KROLL ZOLFO COOPER

Senator Grant Chapman

Chairman,

PARLIAMENTARY JOINT

STATUTORY COMMITTEE

ON CORPORATIONS AND

FINANCIAL SERVICES

Gwyn Morgan

Head of Asset

Structuring,

Risk Management,

WESTPAC

INSTITUTIONAL BANK

• Learn about the complexity, scale and

scope of the ENRON turnaround

• Review the major funding initiatives

available that support Turnaround

Management in Australia

• Compare Chapter 11, Australian VA,

Asian Workouts and the UK System

• Review the indemnities for Directors,

Bill Shields

Visiting Professor,

Macquarie Graduate

School of Management,

MACQUARIE

UNIVERSITY

DON’T MISS THIS UNIQUE OPPORTUNITY TO:

Chief Executives, Shadow Directors and

Administrators specifically undertaking

Turnaround roles

• Understand the essential characteristics

of successful company turnarounds

• Access how the current VA laws are

being amended to create a turnaround

environment

PLUS: OPTIONAL POST CONFERENCE WORKSHOPS

WORKSHOP 1: “Turning Around” The Owner Managed Sector

Facilitated by: Paul Billingham, Head of Recovery & Reorganisation Services and joined

by Scott Griffin, Richard Moffitt and John Ross, GRANT THORNTON

WORKSHOP 2: Determining When a Turnaround is

a Viable Option – The Legal Issues

Facilitated by: James Marshall, Practice Head Insolvency Division,

and Tony Ryan, Partner, BLAKE DAWSON WALDRON

John Stumbles

Partner,

MALLESONS STEPHEN

JAQUES

SAVE

$220

Register and

pay by 21

August

2003

Sponsored by: Endorsed by:

Official Publication:

Members

save 10%

separately

bookable

REGISTER TODAY Phone: 1800 772 772 Fax: (02) 9422 2338 Online: www.lexisnexis.com.au


DON’T MISS OUT!

CONFERENCE PAPERS

AVAILABLE

If you cannot attend the

conference, rest easy in the

knowledge that you can still

stay fully up-to-date by

ordering the conference papers

separately. To do so, simply

complete the order form on the

back of this brochure and fax it

to us or order online –

www.lexisnexis.com.au

EARLY BIRD

DISCOUNT

Register and pay before

Thursday 21st August 2003

and Save $220 off the full

registration fee! See back

page for details.

ABOUT THE

MERCHANT COURT

HOTEL SYDNEY

68 Market Street, Sydney

NSW 2000, Australia

Tel (+61 2) 9238 8888

Fax (+61 2) 9238 8899

Offering commanding views

over Australia’s oldest city and

just minutes from Sydney’s

world-famous harbour, the

Merchant Court Hotel Sydney is

already a new landmark in this

vibrant area. The hotel sets new

benchmarks in the world of

value-oriented business and

leisure travel.

ABOUT THE CONFERENCE SPONSOR

Established in 1976, Ferrier Hodgson

is the Asia Pacific’s leading, specialist,

reconstruction, turnaround, forensic

and insolvency firm. Unlike most

accounting based firms they do not

provide audit, tax or accounting services so they are completely

independent.

Their commitment is to provide their clients with quality financial

advice and facilitate the reconstruction of viable businesses. They

develop innovative, creative and timely solutions that provide the best

possible return to creditors of troubled companies.

Ferrier Hodgson has more than 47 partners and employs over 440 staff

in the Asia Pacific region. They operate in all major Australian cities,

Hong Kong, Singapore, Thailand, Malaysia, Indonesia, New Zealand

and Japan.

THIS CONFERENCE HAS BEEN SPECIFICALLY

DEVELOPED FOR THE FOLLOWING:

• Insolvency Lawyers

• Inhouse Counsel

• Accountants

• Bank Lenders

• Credit Managers

• Asset Managers

• Business Advisors

• Insurance Professionals

• Risk Managers

• CEOs

• CFOs

• Venture Capitalists

• Consultants in Business

Recovery, Corporate

Restructuring and

Turnaround Management

• Insolvency Practitioners

SPONSORSHIP OPPORTUNITY

If you need to reach professionals from the Turnaround Industry – those that

are looking for solutions that you can offer, then don’t miss this unique

opportunity. If you have a product or service in one of the following areas,

enquire today about available opportunities.

• Consultants in Business Recovery, Corporate Restructuring and Turnaround

Management

• Accounting Firms

• Law Firms

• Insurance Professionals

Turnaround/Reconstruction Funds/VC

For more information contact Kim Leigh on 02 9422 2648 or Email

kim.leigh@lexisnexis.com.au

TEAM DISCOUNTS

Earn

up to

10 CLE

points

1. Groups of 3 or more booking on this conference at the same time, from the

same company receive a $500 discount from the total registration fee*

2. Register a team of 4 to the conference at the same time, from the same

company and receive a free pass for the 5th delegate*

* Discounts cannot be taken concurrently


DAY ONE: Tuesday, 11 November 2003

8:00 Registration and Morning Coffee

8:30 Opening Remarks from the Chair

Ian Ferrier, Senior Partner, FERRIER HODGSON

8:40 Reviewing The Social And Economic Impact Of

Insolvency And The Current Turnaround

Environment In Australia

• Reviewing statistics of insolvency in Australia and

the impact that Turnaround Management could

have

• Exposing the emerging demand for Turnaround

Management in Australia

• Evaluating the causes of business failure and the

viability of Turnaround Management as an option

• Understanding some of the barriers that need to

be overcome to create an environment for

Turnaround Management in Australia

Bill Shields, Visiting Professor, Macquarie Graduate

School of Management, MACQUARIE UNIVERSITY

In addition to Bills role with the university, he is also

Macquarie University Director, M-co International Limited

and Chairman, Australia Korea Business Council. Prior to

this Bill was the Chief Economist and Executive Director,

Macquarie Bank Limited where was responsible for

economic and financial market research in Australia and

overseas, particularly in the major industrialised

economies and Asia. He was also a non-executive Director

of Macquarie Risk Services.

9:20 Legislative Reform: Reviewing The Latest

Findings In The Inquiry Into Australia

Insolvency And VA Legislation

• Identifying the shortfalls of the current VA

legislations

• How does the law need to be amended to

create an environment for corporate renewal?

• Reviewing the recommendations of the

Parliamentary Joint Committee and how they

may assist creating an environment for corporate

renewal

• Current limitations of the Act in facilitating

turnaround management

Senator Grant Chapman, Chairman,

PARLIAMENTARY JOINT STATUTORY

COMMITTEE ON CORPORATIONS AND

FINANCIAL SERVICES

Senator Chapman has held this position since 1996. This

committee is currently undertaking an inquiry into the

operation of Australia’s insolvency and voluntary

administration laws.

10:05 Morning Tea

10:35 Comparing Chapter 11, Australian VA, Asian

Workouts And The UK System - What Is The

Answer For Australia?

• Evaluating Chapter 11: What are the benefits and

drawbacks?

• Will Chapter 11 be introduced to Australia? And

if so, how will it be altered and implemented?

• Examining the alternatives in insolvency legislation

around the world and what would be most

beneficial to Australia?

• Comparing a debtor driven system to a creditor

driven system

• Understanding corporate rehabilitation regimes

in Asia

• What does the future hold for Australia?

Moderator: Geoff Sutherland, Partner,

COUDERT BROTHERS SYDNEY

Panellists:

Michael Quinlan, Partner,

ALLENS ARTHUR ROBINSON

Michael advised Cobar Mines administration and

liquidation, acted for Ferrier Hodgson in the

administration of allmybills.com, for PWC in the

administration of DMC Australia and for KPMG in the

administration of the Satellite and Recruiters Australia

Groups.

Michael Popkin, Lawyer,

ALLENS ARTHUR ROBINSON

(on secondment from Siam Premier, Bangkok)

Michael works with partners in finance, banking,

insolvency and corporate departments in Bangkok’s major

law firm. He had direct responsibility for the following

sample matters: Advised Evergreen Industries Limited in

relation to its court supervised business reorganisation,

Siam Strip Mill in relation to its US$550 million debt

restructuring, Chase Manhattan Bank in relation to

purchases of Thai-issued floating rate notes, IBM,

Thailand in relation to ongoing corporate and commercial

matters, and Bangkok Cable in relation to its US$93

million debt restructuring.

Ross Griffiths, General Manager Credit

Management,

COMMONWEALTH BANK OF AUSTRALIA

Ross has been involved in the management of workout

type accounts for approximately 15 years. This debt

restructuring work being a natural progression from the

M&A activity in which he was previously involved. Ross

and his team are responsible for all credit decisions and in

many instances the day to day management of the

‘Troublesome and Impaired’ commercial asset portfolio

within the CBA.

David Cowling, Partner, CLAYTON UTZ

David is one of Clayton Utz's most experienced partners,

practicing in all areas of insolvency and reconstruction.

He has acted for secured and unsecured creditors in

Australia and the UK.

REGISTER TODAY Phone: 1800 772 772 Fax: (02) 9422 2338 Online: www.lexisnexis.com.au

PANEL DISCUSSION


11:45 Examining Various Turnaround Models And

How They Apply In The Australian Environment

• Downward spirals of decline – understanding

them to recognise early warning signs

• The Turnaround Management Process – key

phases and stages

• The process of strategic re-orientation –

challenges and imperatives

• The great debate – is asset and cost retrenchment

mandatory in the turnaround process?

• Reviewing the Turnaround model for Australia

submissions made to the Parliamentary Joint

Committee

Peter Hedge, CHARTERED ACCOUNTANT

AND INDEPENDENT TURNAROUND SPECIALIST

Peter is a specialist turnaround consultant and advisor.

Peter recently retired as a Senior Partner with

PricewaterhouseCoopers business recovery and insolvency

practice in order to establish a boutique turnaround

consultancy and to undertake interim executive

appointments for companies in trouble. Over the past 24

years Peter has worked with Australia's leading financiers,

regulators and legal practices in addressing the issues of

companies in trouble. He is a founding member of the

Business Turnaround Association in Australia.

12:30 Luncheon For Speakers & Delegates

1:30 Joyce Corporation Ltd: Case Study

The Australian company Joyce Corporation, a

polyurethane foam production company, was

placed in receivership in May 2001. Receivers and

administrators were able to keep the company

trading by working with Joyce's management to sell

its non-core businesses and renegotiate its financing

arrangements. This presentation will take a holistic

approach in assessing the critical role of each of the

key stakeholders involved in the turnaround of

Joyce Corporation.

Panellists:

Bryan Hughes, Managing Partner,

NORGARD CLOHESSY – Administrator’s for

the Joyce Corporation Ltd Turnaround

Louis Hajjar, Associate Director, GE COMMERCIAL

– The New Lender for Joyce Corporation Ltd

Dan Smetana, Chairman of the Board,

JOYCE CORPORATION LTD

Konrad de Kerloy, Partner, FREEHILLS

– Legal Advisor to Company Administrator’s

2:30 An Overview Of Two Alternative Approaches

To A Turnaround: Formal And Informal

Case Study One: TVSN Limited

An Australian provider of home shopping services.

The company was restructured through the VA

process with the aid of Asian Venture Capital

resulting in the successful listing of the company on

the ASX.

Case Study Two: G & P Hotels Limited

An insolvent public company that operated both

hotels and packaged liquor. After divesting non

core businesses, raising new equity and refinancing

residual debt, the company traded out and became

PANEL DISCUSSION

CASE STUDY

one of the largest retailers of packaged liquor in

South East Queensland.

Peter Walker, Managing Partner,

FERRIER HODGSON NSW

Peter is well respected as an advisor on informal

turnaround and restructuring arrangements across a wide

range of industries. Most recently he has been appointed

the administrator/liquidator of One Tel Limited, the

Administrator of Outboard Motors Inc and was the

advisor to the lending syndicate on the successful

turnaround of the Burns Philp Group

3:15 Afternoon Tea

3:45 What Happens When Good Governance Fails?

Ramifications For Cash Distressed Companies

• Examining the role and responsibilities of the board

in monitoring companies’ and CEO performance

• Ensuring early identification and intervention

• Responsibilities for the proper flow of information

• The composition and responsibilities of audit

committees

• What the Royal Commission found went wrong

with HIH.

Richard White SC, BARRISTER

Richard is one of the leading practitioners at the New

South Wales Bar in commercial, equity, banking and

corporations and securities law. Richard served as Counsel

Assisting the HIH Royal Commission.

4:30 The Banks Perspective: Reviewing Tools And

Early Intervention Strategies Used By Banks

To Evaluate Cash Distressed Companies

• Ensuring integrity of information flow and quality

of information between bank and client

• Mechanisms for identifying companies at risk;

early warning signs, rating systems, bank

intervention and tools for clients

• Internal and external indicators addressed by

banks in deciding to finance a project

• What new client tools are currently being developed?

• What are the exit strategies for a bank involved in

a turnaround

Gwyn Morgan, Head of Asset Structuring, Risk

Management, WESTPAC INSTITUTIONAL BANK

In 1997/8 Gwyn fulfilled the role of Chairman of the Coordination

Committee of Lenders to the Burns Philp &

Company Limited Group overseeing that group's

restructuring and recapitalisation. Over the past fifteen

years, Gwyn has had various Senior Management roles

within the bank's Credit Risk Management, Asset

Management and Institutional Banking groups including

nine years managing numerous complex corporate

workout or recovery situations in Australia, Canada, New

Zealand, Asia, the UK and the US.

5:15 Close of Day One

5:15-

6:15

COCKTAIL RECEPTION

Enjoy canapes and cocktails

after a long day of learning.

This reception gives you

the opportunity

to relax and network

with industry colleagues.

Sponsored by:

REGISTER TODAY Phone: 1800 772 772 Fax: (02) 9422 2338 Online: www.lexisnexis.com.au


DAY TWO: Wednesday, 12 November 2003

8:00 Morning Coffee

8:30 Opening Remarks from the Chair

Ian Ferrier, Senior Partner, FERRIER HODGSON

8:40 INTERNATIONAL KEYNOTE ADDRESS:

Enron: A Case study on Managing Complexity

and Maximizing Value

• Understanding the unprecedented complexity,

scale and scope of Enron

• Highlighting commonalities that Enron shares

with other corporate turnarounds

• Reviewing turnaround objectives and skills

needed to drive the process

- stabilising the business

- bringing cost structures in line with business

operations

- identifying core and non core operations

- managing the process to sell or reorganise the

core business

- litigation and settlement

- developing the Chapter 11 plan

Stephen Cooper, Interim CEO & Chief

Restructuring Officer, ENRON (USA) and

Chairman, KROLL ZOLFO COOPER

CASE STUDY INTERNATIONAL KEYNOTE ADDRESS

Stephen is a turnaround industry pioneer and soughtafter

interim executive for companies in trouble. His track

record includes working with Pantry Pride, Federated

Department Stores, Laidlaw, Phar-Mor, Placid Oil, TWA

and more. He is currently serving as interim

CEO and chief restructuring officer of Enron.

9:25 Q&A with Stephen Cooper

9:35 Burns Philp Case Study

In 1997, Burns Philp, a global food ingredients

company, suffered a debt crisis that almost bought

the company to its knees. Since that time, a highly

successful management team, a group of

committed financiers, legal advisers and many more

managed to restore cash flow and profit, reduce its

huge debt burden and put the company back on

track to expand. This case study, delivered by the

legal advisor to the financiers, will review the

successful turnaround of Burns Philp.

• Structuring and Issues for Financiers

• Standstill Override Arrangements v Deed of

Company Arrangements/Scheme of Arrangement

• Legal issues including shadow directorship,

confidentiality, debt trading, liabilities of credit

committees

• Roles of stakeholders including financiers

• Roles of a Credit Committee

• Important considerations for the borrower

• Role of shareholders

John Stumbles, Partner,

MALLESONS STEPHEN JAQUES

John represented the financiers of the Burns Philp

turnaround. He has written and lectured extensively on

matters relating to the law of banking and finance and

insolvency law. The Euromoney Guide to the World's

Leading Banking Lawyers consistently ranks John amongst

Australia's top banking Lawyers.

10:20 Morning Coffee

10:50 Reviewing Major Funding Initiatives And The

Types Of Debt And Equity Instruments

Available That Support Turnaround

Management

• What are the problems that need to be overcome

for lenders and lendees in Australia

• What role does Private equity play and what it

means for turnaround management

• What evaluation tools are used to assess

distressed companies?

• What have these financers done for companies –

reviewing case studies

• What is available for SME’s?

• Examining creative and alternative financing tools

Moderator:

Lindley Edwards, CEO, THE VENTURE GROUP

Panellists:

Peter Allen, Managing Director, ALLEN CAPITAL

& ALLEN CAPITAL PRIVATE EQUITY

Peter founded Allen Capital Group as an independent

corporate advisory and private equity investment firm.

Prior to this he was Managing Partner of Arthur Andersen

Sydney.

Ian Johnson, Investment Director,

HELMSMAN FUND

Ian is a financial consultant primarily retained by

Macquarie, to source and manage investments in

distressed assets. Over the past decade, he has been

involved in the work-outs and restructuring of some of

the major corporate failures in Australia.

David Catley, State Manager Victoria,

St George Business Finance, ST. GEORGE BANK

David has been involved in small and medium business

finance for the last sixteen years, and is currently the

Victorian State Manager for St. George Business Finance,

the cashflow finance division of St.George Bank Ltd.

St.George Business Finance Pty Ltd and its sister company

Scottish Pacific Business Finance Pty Ltd specialise in

working capital solutions for small and medium

businesses, primarily through the provision of Factoring

and Invoice Discounting services.

REGISTER TODAY Phone: 1800 772 772 Fax: (02) 9422 2338 Online: www.lexisnexis.com.au

PANEL DISCUSSION


11:50 Reviewing The Indemnities For Directors,

Chief Executives, Shadow Directors And

Administrators Specifically Undertaking

Turnaround Roles

• Understanding the liabilities and responsibilities of

these involved in a Turnaround

• Importance of delegating clear responsibility and

lines of authority early in a Turnaround

• What are 3rd party responsibilities for shadow

directors

• What are the personal liability issues for

Turnaround Professionals

• What is involved in D and O cover?

Senior Representative, Professional Risk, AON

12:30 Luncheon For Speakers & Delegates

1:30 Choosing a Turnaround Professional -

A Key Guide

• Do the directors and/or shareholders believe the

business can be profitable?

• Is the financial position clear, are you solvent?

• Will your biggest creditors support you?

• What support will your shareholders give?

• Understand the role, responsibility and authority

of a turnaround specialist.

• Track records of turnaround specialists.

• Costs and legal position during a turnaround.

• What Australia is doing in Business Turnarounds

Michael O’Neill, Managing Director,

PACIFIC CAPITAL CORPORATION LTD

Michael has headed successful business turnarounds for

the last 25 years in Australia, the UK, and New Zealand.

Industries include, aviation, brewing, horticulture, goldmining,

food-manufacturing, radio and television,

merchant banking, stock broking and aquaculture.

Michael was a foundation member of the Business

Turnaround Association, an Australian initiative, which

recently submitted a new pre-insolvency Turnaround

Model to the Federal Parliamentary Joint Committee on

Corporations and Financial Services.

2:15 Employee And Key Stakeholder Considerations

For The Long Term Rebuilding Process

National express coach company, McCaffertys

Greyhound has undergone a major corporate

restructure, funded by a $50 million investment in

the company. The restructuring follows the acquisition

of Greyhound Pioneer Australia in November 2000,

which effectively doubled the size of the company.

Following the restructure, the company will now

pursue other expansionary initiatives.

This session will examine the following issues:

• How do your employees fit into the restructure

and do the resources need to be changed?

• Assessing the structure of employees in a

restructure and clearly defining the role of each

employee and who they are responsible to

CASE STUDY

• To what extent should interim executives attempt

to change the corporate culture?

• Restoring company credibility- key considerations

• Working within the employee relations legal

framework while conducting a restructure

Chris Barnes, CEO, McCAFFERTYS GREYHOUND

Chris is currently CEO/Executive Director of McCaffertys

Greyhound Pty Ltd. He joined McCaffertys Management

Pty Ltd in June 2002 and held the position of General

Manager until the sale of the business to McCaffertys

Greyhound Pty Ltd.

3:00 Afternoon Tea

3:30 Case study – Asia Pulp And Paper (APP)

This case study will examine the US$13.9bn debt

workout of Asia Pulp and Paper. Ferrier Hodgson

was appointed by 9 Export Credit Agencies to

report on the operations of APP to allow the

agencies to determine a way forward for the

restructuring and eventual turnaround of the group.

For this work, Ferrier Hodgson received the

International Financing Review (Asia) Debt

Restructuring Adviser of the year award. Andrew

will comment upon the business environment in

Indonesia and Asia generally, for the use of

turnarounds and restructures.

Andrew Saker, Director,

FERRIER HODGSON INDONESIA

Andrew has been actively involved in several large

corporate insolvencies and reconstructions, including

Bond Corporation Holdings Limited in Australia and Ames

Department Stores in the United States. In Indonesia,

Andrew has been involved with corporate restructuring

assignments with companies operating in the Property,

Hospitality and Tourism, Manufacturing, Infrastructure,

Pulp and Paper, Finance, Timber and Plywood industries.

4:15 Essential Characteristics Of Successful

Company Turnarounds

• Reviewing the roles of lenders, investors, legal

advisors, turnaround practitioners, appraisers and

others involved in the Turnaround process and the

importance of all contributions

• Understanding the influences of a successful

turnaround including; the industry, the economic

cycle, the shareholders’ aspirations

Panellists:

Dan Smetana, Chairman of the Board,

JOYCE CORPORATION LTD

Stephen Cooper, Interim CEO &

Chief Restructuring Officer, ENRON (USA)

John Stumbles, Partner,

MALLESONS STEPHEN JAQUES

Michael O’Neill, Managing Director,

PACIFIC CAPITAL CORPORATION LTD

5:15 Closing remarks from the chair

5:20 Close of Conference

REGISTER TODAY Phone: 1800 772 772 Fax: (02) 9422 2338 Online: www.lexisnexis.com.au

PANEL DISCUSSION CASE STUDY


DAY THREE: Thursday, 13 November 2003

OPTIONAL HALF-DAY WORKSHOPS

8:30 Registration for Workshop One

WORKSHOP

ONE:

“TURNING AROUND” THE OWNER MANAGED SECTOR

(9:00am – 12:30pm)

With over 90% of Australian companies classified as “owner managed” the challenge for turnaround professionals is

taking the lessons learned from these major corporate reorganisations down to the next level.

The key to understanding how the turnaround culture applies to the SME/Owner Managed sector is an appreciation of

how such companies are structured, how they are managed and the special considerations when devising turnaround

solutions.

This workshop will develop a case study featuring many of the attributes of a typical Owner Managed

business and devise a turnaround strategy including:

• Identification of performance issues

• Financial Structuring and Sources of Funding

Turnaround/Business planning

• Equity ownership by family and non family members

WORKSHOP

TWO:

Bookable

Separately

• Management Assessment

• Resolving conflict – within the family and family v non family

• Exit strategies

• Use of formal v informal reconstruction techniques

Facilitated by: Paul Billingham, Head of Recovery & Reorganisation Services, GRANT THORNTON

After joining the UK firm of Grant Thornton, Paul transferred to Sydney, Australia and became a Partner during January 1999.

He is qualified to act as an Insolvency Practitioner in both countries. In 2000, Paul focussed on the reconstruction and turnaround

of Internet based companies and Telco’s during the “dot com” crash, where the need for fast practical solutions was paramount.

Paul will be joined by:

Scott Griffin, Head of Corporate Finance and Exit Strategy Services, GRANT THORNTON

Richard Moffitt, Partner, Entrepreneurial Business Services, GRANT THORNTON and

John Ross, Partner, Taxation Services, GRANT THORNTON

12:30 – 1:15 Luncheon for delegates attending BOTH workshops 1:15 Registration for Workshop Two

DETERMINING WHEN A TURNAROUND IS A VIABLE

OPTION – THE LEGAL ISSUES (1:30pm – 5:00pm)

Diagnosing a company’s health is not easy. There are many internal and external factors that must be considered to

evaluate whether a company should trade on or call in administrators. There are many legal issues that also must be

considered when making any decision involving the future of a company whose financial position is precarious.

This workshop will cover the following issues:

• What are the insolvency issues that trigger turnaround management?

• What are the legal issues that must be addressed when deciding insolvency or trade on?

• Case study review - what has worked and what hasn’t

• Addressing the key legal issues when undertaking a turnaround in Australia under the current laws

• Understanding the liabilities of all involved in a turnaround

The case study of Television and Media Services (TMS) will be examined in this interactive workshop. After net loss in

2002, and a fall in its share price, TMS undertook a restructure of its business operations and managed to turn its

business around and preserve a degree of shareholder value. This workshop will evaluate the legalities and processes

from the early stages to the very end of this successful company turnaround.

Facilitated by: James Marshall, Practice Head Insolvency Division, BLAKE DAWSON WALDRON

James is nominated by Euromoney Guide as a leading Insolvency Lawyer and has been involved in a number of recent major

insolvencies including Ansett Limited, Pasminco Limited, Enron Australia, Television & Media Services Limited and the Sydney Kings.

His practice includes assisting in the restructuring of businesses experiencing financial difficulty.

Tony Ryan, Partner, BLAKE DAWSON WALDRON

Tony is an insolvency partner who has had a significant involvement in the liquidation of HIH Insurance. Blake Dawson Waldron

was awarded Best Insolvency Practice at the recent Australian Law Awards.

REGISTER TODAY Phone: 1800 772 772 Fax: (02) 9422 2338 Online: www.lexisnexis.com.au


CORPORA TE RENEW AL &

TURNAROUND MANAGEMENT

11 – 13 November 2003 • Merchant Court Hotel, Sydney

FOUR EASY WAYS TO REGISTER

Phone: 1800 772 772 Fax: (02) 9422 2338 Online: www.lexisnexis.com.au

Mail: Conference Co-ordinator, LexisNexis,

Locked Bag 2222, Chatswood Delivery Centre, Chatswood NSW 2067

STANDARD PRICES

■ Two-day conference ($1995 + GST) Total $2194.50

■ Two-day conference + one workshop † ($2445 + GST) Total $2689.50

■ Two-day conference + two workshops ($2795 + GST) Total $3074.50

■ One workshop ($495 + GST) Total $544.50

■ Two workshops ($895 + GST) Total $984.50

EARLY BIRD PRICES - SAVE $220*

■ Two-day conference ($1795 + GST) Total $1974.50

■ Two-day conference + one workshop † ($2245 + GST) Total $2469.50

■ Two-day conference + two workshops ($2595 + GST) Total $2854.50

10% DISCOUNT TO MEMBERS OF ENDORSING ORGANISATIONS

TEAM DISCOUNTS

1. Groups of 3 or more booking on the conference at the same time, from the same firm

receive a $500 discount from the total registration fee*

2. Register a team of 4 to the conference at the same time, from the same firm and

receive a free pass for the 5th delegate*

* Discounts cannot be taken concurrently

TRAVEL & ACCOMMODATION

Travel Corp has

negotiated special

Airfare and Accommodation

packages for this conference. Please contact

Candida at Travel Corp for all reservations.

Tel: (61 2) 9563 2906 Fax: (61 2) 9563 2900

Email: candida@travelcorp.com.au

HOTEL DETAILS

Merchant Court Hotel

68 Market Street, Sydney

NSW 2000, Australia

Tel (+61 2) 9238 8888

Fax (+61 2) 9238 8899

Delegate 1

Surname: (Mr/Mrs/Miss/Ms) ______________________ First Name: ________________________

Position: _________________________________________________________________________

Firm/Company: ___________________________________________________________________

Address: _________________________________________________________________________

Telephone: _______________________________ Fax: __________________________________

Email: ___________________________________________________________________________

Delegate 2

Surname: (Mr/Mrs/Miss/Ms) ______________________ First Name: ________________________

Position: _________________________________________________________________________

Email: ___________________________________________________________________________

Payment Details

■ Enclosed is my cheque for $_________ made payable to LexisNexis Butterworths

■ Charge $_______ to Members of endorsing associations are entitled to a 10% discount off the full price

of their purchase

■ Yes, I am a member of Law Council of Australia Business Law Section

IMPORTANT PRIVACY NOTICE

(Note: Discounts cannot be taken concurrently)

The information you provide on this form is being

collected by Reed International Books Australia

Pty Limited (Reed) for the purposes of processing

† If attending only one workshop, please indicate which workshop

your registration or enquiry and keeping you

informed of upcoming products, services offers

■ Workshop One ■ Workshop Two

and events. The information is disclosed from

time to time to our related bodies corporate for

these purposes. The provision of this information

* Early bird offer expires 21 August. Please note that discounts cannot be taken concurrently.

by you is voluntary but if you do not provide

some or all of the requested information we may

■ I am unable to attend but wish to purchase a set of conference papers for $544.50 including GST be unable to properly process your registration.

You have both a right of access to the personal

information we hold about you and to ask us to

correct it if it is inaccurate or out of date. Please

direct any queries to The Privacy Officer, Reed

International Books Australia or email to

privacy@lexisnexis.com.au.

■ I do not wish to receive information about

upcoming products, services, offers or events

QUALITY GUARANTEE

Rest easy in the knowledge that your investment

in this event is risk free. LexisNexis guarantees the

quality of this event, and if you are not

completely satisfied we will offer you another

event of your choice of equivalent value. Simply

write to us within 1 week of the event

CANCELLATION POLICY

Your registration will be confirmed in writing

when full payment is received. We will refund

your registration in full less a $165 administration

fee if notification is received in writing by 10

■ MasterCard ■ V i s a ■ BankCard ■ AMEX

October 2003. If we receive written notification

between 13 October 2003 and 27 October 2003,

Card No: ■■■■ ■■■■ ■■■■ ■■■■ Date of Expiry: ____________ you will receive a 50% refund and conference

documents. No ancellation requests will be

Name of Cardholder: ______________________________________________________________ accepted after 28 October 2003. You may

nominate a replacement, however no refund will

be issued. Payment must be received in full in

Signature of Cardholder:____________________________________________________________

order to gain access to the conference. If payment

has not been received a credit card hold will be

taken on the day and charged within two weeks

if payment has still not been received. Details

regarding this conference were confirmed and

correct at the time of printing. LexisNexis reserves

the right to cancel or amend the conference

details if required.

ABN 70 001 002 357 Conference Code: PE2403 A B C D E F G H I J K L M R Rep Code Website

CLE/CPD POINTS

CLE units/hours

Mandatory CLE/CPD: If this conference is relevant

to your immediate or long term professional

development and practice of law, then you

should claim one unit for each hour of actual

attendance, not including refreshment breaks.

REGISTER TODAY Phone: 1800 772 772 Fax: (02) 9422 2338 Online: www.lexisnexis.com.au

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