Date:  11/14/2006

Time:   3:30 pm - 4:00 pm Registration 4:00 pm - 6:30 pm Program 6:30 pm - 7:30 pm Reception

Location:   Morrison & Foerster LLP 1290 Avenue of the Americas 39th Floor, Conference Room E/F New York City

Speakers:   G. Larry Engel, William S. Veatch, Kenneth W. Muller

Contact Email:   nyseminars@mofo.com

Contact Phone:  212.336.4129

Description:  

Please join us to discuss the future of vulnerable hedge funds.  Some of the 9000+ hedge funds are at risk of distress, and, reportedly, more that two-thirds of these are registered in the Cayman Islands.  Since the industry has assets in excess of $1.2 trillion, distress in any part of this business will have a significant impact.

The causes of distress vary and may include specific performance disappointments, general market losses, legal challenges or adverse market perceptions.  Learn how to anticipate these distress situations in order to arrange defenses or identify asset purchase opportunities.

Topics Will Include:

• New insolvency strategies and practices, including those related to distressed funds’ use of Cayman Islands or other foreign insolvency proceedings, combined with U.S. Chapter 15 filings
  
• Foreseeable interactions with portfolio companies owned by distressed funds
  
• Defensive strategies for U.S. investors and creditors
  
• Identifying and realizing on asset purchase opportunities

Who Should Attend:

• Fund investors, especially funds of funds
  
• Potential purchasers of distressed hedge funds’ portfolios
  
• Others with exposure to risks in hedge funds

This invitation is transferable and open to colleagues and guests.  There is no charge to attend this seminar.  Morrison & Foerster LLP has been certified by the New York State Continuing Legal Education Board as an Accredited Provider of continuing legal education in the State of New York [8/20/2004 -8/19/2007].  This continuing legal education course has been approved in accordance with the requirements of the Continuing Legal Education Board for a maximum of 3.0 credit hours, of which 3.0 applies to Areas of Professional Practice.