The Art of the Ad Hoc - Edition 3

With changes in credit markets, traditional steering committees – now seen as too slow and unwieldy – have fallen from favour in restructurings. Enter the ad hoc committee. It takes less time to set up, is more fl exible and can achieve better results.

Understanding the rules that govern these committees and their inner workings is essential. The Art of the Ad Hoc has all the answers. In plain English, it provides a comprehensive guide to how to work successfully with these committees, an activity that Judge James MPeck says in the Introduction is rightly described as ‘an art’.

The Art of the Ad Hoc draws on the collective wisdom and actual experiences of 18 distinguished practitioners from eight fi rms to cover several angles and perspectives – particularly those of committee members and debtors. It is an essential desktop reference work.

Chapters

Introduction
James M Peck
Morrison & Foerster LLP

PART I: FORMATION AND ORGANISATION OF AN AD HOC COMMITTEE IN A RESTRUCTURING

• The Role and Purpose of an Ad Hoc Committee from the Debtor’s Perspective
  Kon Asimacopoulos and Gabe Harley
  Kirkland & Ellis International LLP
• The Role and Purpose of an Ad Hoc Committee from the Perspective of Creditors
  AJacqueline Ingram and Sarah Levin
  Milbank LLP
• Selection and Organisation of Members and the Process of Formation
  Yen Sum and Hugo Bowkett
  Latham & Watkins LLP
• A Comparison of an Ad Hoc Committee and an Official Committee Under Insolvency and Other Laws in England and the United States
  AKate Colman, Sarah Levin and Ryan Al-Hakim
  Milbank LLP

PART II: ACTIVITIES AND THE POWER OF AN AD HOC COMMITTEE

• Managing the Relationships between Members
  Dennis F Dunne, Dennis C O’Donnell and Nelly Almeida
  Milbank LLP
• Advising an Ad Hoc Committee
  CHoward Morris and Sonya Van de Graaff
  Morrison & Foerster LLP and Katten Muchin Rosenman LLP
• Contracting with an Ad Hoc Committee
  David Wallace and Jack Isaacs
  Latham & Watkins
• The US Perspective
  Darren Azman and Natalie Rowles
  McDermott Will & Emery LLP

PART III: TRADING BY MEMBERS OF AN AD HOC COMMITTEE

• The Loan Market Association Transparency Guidelines
  Ross Miller
  Simmons & Simmons LLP
• The Insider/Outsider Conundrum
  Ross Miller and Alex Ainley
  Simmons & Simmons LLP
• Practical Considerations for Secondary Loan Trades
  Ross Miller
  Simmons & Simmons LLP