Prepared for distribution at the LEVERAGED FINANCING 2015 Program New York City and Live Webcast www.pli.edu, May 6, 2015 Boston and New Brunswick Groupcast Locations, May 6, 2015 CONTENTS: PROGRAM SCHEDULE... 11 FACULTY BIOS... 17 1. Financing the Deal... 37 A. Leveraged Lending Guidance: Can Financing Structures Withstand Regulatory Scrutiny? (February 2015)... 41 Scott B. Selinger B. Expansive Trust Indenture Act Interpretation May Negatively Affect Bond Restructurings (February 2015)... 49 Jasmine Ball Paul D. Brusiloff Richard F. Hahn M. Natasha Labovitz George E.B. Maguire Pierre Maugüé Shannon Rose Selden My Chi To Peter Chen Nick S. Kaluk III 5
C. Is the Proxy Put Dead?, Pontiac General Employees Retirement Fund v. Healthways (February 2015)... 55 Scott B. Selinger D. Chesapeake Energy Loses $1.3 Billion Bond Redemption Appeal: Will a Few Missing Words Cost $400 Million? (February 2015)... 61 Ramya S. Tiller E. Case Law Developments (February 2015)... 67 Ramya S. Tiller F. Table of Cases... 83 i. Exhibit 1: Chesapeake Energy Corporation v. Bank of New York Mellon Trust Company, 773 F.3d 110 (2d Cir. 2014)... 85 ii. Exhibit 2: Marblegate Asset Management v. Education Management Corp., No. 14 Civ. 8584(KPF), 2014 WL 7399041 (S.D.N.Y. Dec. 30, 2014)... 97 iii. Exhibit 3: MeehanCombs Global Credit Opportunities Funds, LP v. Caesars Entertainment Corp., Nos. 14 cv 7091 (SAS), 14 cv 7973 (SAS), 2015 WL 221055 (S.D.N.Y. Jan. 15, 2015)... 115 iv. Exhibit 4: Transcript of Record, Pontiac General Employees Retirement System v. Ballantine, et al. and Healthways, Inc., C.A. No. 9789-VCL (Del. Ch. Oct. 14, 2014)... 129 6
v. Exhibit 5: In re MPM Silicones, LLC, No. 14-22503-rdd, 2014 WL 4436335 (S.D.N.Y. Sept. 9, 2014)... 211 vi. Exhibit 6-A: Official Committee of Unsecured Creditors of Motors Liquidation Company v. JPMorgan Chase Bank, N.A. (In re Motors Liquidation Co.), 103 A.3d 1010 (Del. Ch. 2014)... 239 vii. Exhibit 6-B: In re Motors Liquidation Company, et al. v. JP Morgan Chase Bank, N.A., 777 F.3d 100 (2d Cir. 2015)... 247 viii. Exhibit 7: In re Meridian Sunrise Village, LLC v. NB Distressed Debt Investment Fund Limited, et al., No. 13 5503RBL, 2014 WL 909219 (W.D. Wash. 2014)... 253 ix. Exhibit 8-A: In re Rural Metro Corp. Stockholders Litigation, 88 A.3d 54 (Del. Ch. 2014)... 259 x. Exhibit 8-B: In re Rural Metro Corp. Stockholders Litigation, 102 A.3d 205 (Del. Ch. 2014)... 377 xi. Exhibit 9: Cortlandt Street Recovery Corp. v. Hellas Telecommunications, S.Á.R.L., et al., 996 N.Y.S.2d 476 (N.Y. Sup. Ct. 2014)... 499 xii. Exhibit 10: Quadrant Structured Products. Co., Ltd. v. Vertin et al., 16 N.E.3d 1165 (N.Y. 2014)... 519 xiii. Exhibit 11: Lehman Brothers Holdings Inc. v. Spanish Broadcasting System Inc., No. 8321 VCG, 2014 WL 718430 (Del. Ch. 2014)... 541 xiv. Exhibit 12: Mashreqbank PSC v. Ahmed Hamad Al Gosaibi & Brothers Company, 23 N.Y. 3d 129 (N.Y. 2014)... 555 2. The Book of Jargon, The Latham & Watkins Glossary of Corporate and Bank Finance Slang and Terminology, First Edition... 575 Kirk A. Davenport II Latham & Watkins LLP 7
3. The Volcker Rule: A Mixed Result for CLOs... 717 Elliot Ganz LSTA 4. Anti-Corruption Issues in Lending Transactions (February 12, 2015)... 727 Jeanine P. McGuinness Davis Polk & Wardwell LLP 5. U.S. Sanctions Issues in Lending Transactions (February 12, 2015)... 741 Jeanine P. McGuinness Davis Polk & Wardwell LLP 6. Structuring the Deal (Substantive Outline) (February 2015)... 755 Jennifer L. Hobbs Simpson Thacher & Bartlett LLP James J. Mastroianni John Toriello PricewaterhouseCoopers LLP 7. Covenant Convergence in the Leveraged Loan and High Yield Bond Markets (February 13, 2015)... 777 Byung Choi Ropes & Gray LLP 8. Selected Ethical Issues in Leveraged Financings (Substantive Outline) (February 15, 2015)... 787 Christine Gould Hamm General Electric Capital Corporation Edwin E. Smith Morgan, Lewis & Bockius LLP 8
9. Ethical Issues in Leveraged Financing Transactions (PowerPoint slides)... 805 Peter C. Kostant New York Law School Fordham University School of Law Edwin E. Smith Morgan, Lewis & Bockius LLP INDEX... 825 Program Attorney: Danielle B. Cohen 9