Significant Issues for Fraudulent Transfer Actions

Brian Resnick is a partner in Davis Polk’s Insolvency and Restructuring Group. He has substantial experience in a broad range of corporate restructurings and bankruptcies, representing debtors, creditors, banks, hedge funds, asset acquirers and other strategic parties in connection with pre-packaged and traditional bankruptcies, out-of-court workouts, DIP and exit financings, bankruptcy litigation and Section 363 sales. Resnick is regularly recognized as an up and coming leader in the restructuring field, including by Chambers USA, IFLR 1000, Turnarounds & Workouts and Law360. Resnick’s promotion to partner in July 2011 led to a profile in The Wall Street Journal’s “Bankruptcy Beat” blog, which chronicled Resnick’s transition from Juilliard-trained professional musician to partner in one of the world’s top insolvency and restructuring practices.

Robert J. Stearn Jr. focuses his practice on bankruptcy litigation, including preference and fraudulent transfer litigation, as well as all types of contested matters. Bob has successfully represented large corporate debtors as well as defendants in adversary proceedings and contested matters. He has been recognized for excellence in Chambers USA and Benchmark Litigation.

Mr. Buschmann is a Senior Managing Director in the Restructuring & Reorganization Advisory Group.

Since joining Blackstone in 2001, Mr. Buschmann has assisted in advising on a variety of restructuring transactions, including:

• Nortek
• Nybron Flooring International
• Patriot Coal
• Philadelphia Newspapers
• Pinnacle Airlines
• Russell-Stanley Holdings
• San Francisco Asian Art Museum
• Six Flags
• Taro Pharmaceuticals
• Tribune Company
• Twin River Casino
• Williams Communications

• Alestra
• Angiotech Pharmaceuticals
• Cable & Wireless America
• CEDC
• Delta Air Lines
• Excite@Home
• EME Homer City
• IAP Worldwide Services
• Levitz Furniture
• Los Angeles Dodgers
• Mattress Discounters
• MBIA

Before joining Blackstone, Mr. Buschmann worked in the Financial Institutions Group of Salomon Smith Barney, where he executed various mergers and acquisitions and financing assignments. Mr. Buschmann received a BA in Economics and German Literature from Dartmouth College and an MBA with a concentration in Finance from The Kellogg School of Management at Northwestern University. Mr. Buschmann is a member of the New York City Bar Association Bankruptcy Committee.

Loretta R. Cross is a Managing Director in the Dispute Advisory and Forensic Services Group and the leader of the firm's Energy Practice. She has more than 30 years of experience in strategic, operational, financial and litigation consulting. She is a recognized expert in the energy field providing services to companies from the well head to the light switch. She has been a key business advisor to parties in some of the nation's largest bankruptcies and restructurings and has provided expert testimony on a variety of issues ranging from accounting practices to valuation issues.

Ms. Cross has expertise with exploration and production, oilfield service, power generation, and pipeline companies. Her previous clients range from small privately held companies to large international enterprises. Her specialties include debt restructuring, business valuation, financial forecasting, forensic analysis, regulatory compliance, litigation support, commercial litigation, damage calculation, litigation consulting, and bankruptcy, among others. She has served as a Chapter 11 Trustee and Chapter 7 Trustee.

Jeffrey A. Liesemer is a Member in Caplin & Drysdale's Washington, D.C., office. His practice focuses on complex civil and commercial litigation, with an emphasis in bankruptcy and creditors' rights cases, including fraudulent transfer and other claw-back actions. Mr. Liesemer represents clients at the trial and appellate levels of both state and federal courts. Since joining Caplin & Drysdale in 2005, he continues to focus on complex chapter 11 cases, with a majority of his time devoted to representing asbestos creditors' committees in mass-tort bankruptcies. He has been involved in a number of notable bankruptcy cases throughout the country. He is listed in Best Lawyers in America, and recognized as a "future star" by Benchmark Litigation. Mr. Liesemer writes and lectures on numerous topics relating to civil litigation and bankruptcy law.

George W. Shuster, Jr. is a partner in the Bankruptcy & Financial Restructuring Group and the Debt Finance Group at WilmerHale, working from the firm’s Boston and New York offices. Mr. Shuster’s practice spans a range of debt finance, restructuring, and bankruptcy-related litigation matters. On the transactional side of his practice, he has experience structuring deals to mitigate counterparty bankruptcy and insolvency risk, including fraudulent transfer risk. On the litigation side of his practice, he has defended fraudulent transfer suits related to pre-bankruptcy asset sales, financing arrangements, and other transactions. Mr. Shuster also has particular experience at the intersection of bankruptcy & intellectual property law (including in respect of patent sale and licensing transactions addressing bankruptcy risk and in the bankruptcy context), with respect to bankruptcy implications of securities transactions and market participants, and on cross-border bankruptcy matters. Mr. Shuster graduated from Columbia College, summa cum laude, and from the University of Virginia School of Law. He has spent his entire 14-year legal career at Wilmer Hale, whose Bankruptcy & Financial Restructuring Group is comprised of 30 lawyers across its Boston, New York, and Washington offices.