Bank Special Assets (Midwest)
Chicago, IL
October 27 - 28, 2022

Description

The forum continues to be the only place where special assets and credit workout professionals, special servicers, turnaround advisors, receivers, auctioneers and law firms can meet to discuss the latest on C&I, SBA Loans, Real Estate, Equipment, Oil & Gas and more. 
 
As volatility creeps into the economy and as deals slowly but surely come to surface, now is the time to join our senior delegation of distressed debt professionals for 1.5 days of deal making, relationship building and thought leadership. 

Be sure to bookmark this page and check back as more information becomes available.
 
We look forward to seeing you once again this October!

Who Should Attend
  • Bankers (Special Assets/Credit Professionals)
  • Law/Accounting Professionals
  • Turnaround Advisory Firms
  • Buyers of Notes, C&I, and SBA Loans
  • REO Brokers
  • Receivers
  • Auctioneers

Conference Highlights

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My Agenda

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Agenda

    Thursday, October 27th, 2022

      8:00 AM
      Registration & Breakfast



      8:55 AM
      Welcome Remarks



      9:00 AM
      Distressed CRE Market Outlook & The Special Assets Landscape

        • To what degree have you seen real distressed opportunities in the past few months?  Which markets and which asset classes are exhibiting most distress?
        • How has the Biden administration impacted real estate and banking industry regulations? What risks and opportunities do you envisage moving forward due to regulatory change?
        • Which workout remedies are banks employing?
        • When forbearance does not suffice, what are next steps to achieving a more complex workout?
        • By region and sector, what does the outlook for special assets look like?
        • How is demand changing for C&I vs. real estate vs. agricultural vs. auto and other loans? How have you adjusted your definition of “distressed” in each of these categories?
        • What role does climate risk play in your portfolio management strategy?
        • Which new risks will pose the greatest threats to your balance sheet?


        • Tom Constantine, EVP & Chief Credit Officer (Axos Bank)
        • Jim Ketchersid, SVP, Senior Credit Administrator (Farmers & Merchants Bank of Long Beach)
        • Mitch Vanneman, Vice President – Receivership Services (Hilco Real Estate)
        • Danny Bishop, SVP, Special Assets (Texas Capital Bank)

      9:45 AM
      Preparing for the Next Wave of CRE Loan Defaults, Workouts & Turnarounds

        • Which new risks are facing commercial real estate loans and what impact will this have on special servicing?
        • How is the relationship changing between borrowers, lenders and servicers?
        • To what extent have lenders shifted from forbearance, deferment, etc., to enforcement of remedies through foreclosure or loan sale?
        • What creative workout scenarios are borrowers and lenders discussing? What is actually being agreed upon? What happens once the forbearances/seasonality reserves or other reserves run out?
        • How does turnaround and workout activity vary by sector and geography? What do distressed asset owners need to know when considering a workout?
        • What are your predictions for distressed deal flow and default rates? How is this informing your risk management strategy?
        • What impact do federal income tax considerations have on the structure of a workout? How might this change with the new administration?


        • Robert Shanahan, President (Wintrust Business Credit)
        • Randy Schwarzman, SVP, Special Assets (Fifth Third Bank)
        • Chris Friis, SVP (First Secure Bank and Trust)
        • Kevin Tatro, Sr Managing Director, Head of Special Servicing (Newmark)
        • Brad Salzer, President (Redstone Investments)

      10:30 AM
      Networking Break



      11:15 AM
      Buyers & Sellers Strategy Roundtable

        • What is deal flow like right now and how are you sourcing deals? 
        • What asset types are you buying and looking to buy?  Which markets are you focused on for hospitality and retail transactions?
        • What sectors present the best opportunities for long-term growth, and which are you steering clear of?
        • Which risks will have the greatest impact on your buying/selling strategy?
        • What kinds of pricing are you seeing for discounted sales?
        • How do you negotiate with banks of varying size and reach? What unique challenges and opportunities does each type present?
        • Are you partnering with non-bank lenders? Why or why not?
        • What is the best deal you have bought into recently?


        • Corey Maple, Chairman & CEO (Legendary Capital)
        • Jon Winick, CEO (Clark Street Capital)
        • Will Hough, Senior Vice President (Directed Capital)
        • Dave Muth, Managing Director, Asset Management (Peoples Company)
        • Benjamin Sabraw, Managing Director (SMS Financial LLC)
        • Robert Milam, Managing Director - Acquisitions (Summit Investment Management)

      12:00 PM
      Loan Sales, Auctions & Distressed Asset Dispositions

        • What does the auction market for distressed property notes look like?
        • What liability issues do you expect to arise with auctions? Where are the next opportunities?
        • How does the opportunity set compare for OREOs?
        • What alternatives are there to distressed asset sales aside from auctions? Who are some of the most active players in distressed asset and note sales?
        • Which important tax considerations are often overlooked in distressed asset transactions?
        • What are keys to success in executing an online auction?
        • What have you learned from deals that fell through? What are some recent successful deals you’ve done?


        • Jason Kuwayama, Attorney (Godfrey & Kahn, S.C.)
        • Stephen Madura, Senior Vice President (Hilco Real Estate)
        • Bliss Morris, Founder & CEO (First Financial Network)
        • Brock Cannon, Head of National Loan Sales (Newmark)
        • Joseph Cuomo, Senior Managing Director (Ten-X)
        • Andre Cuadrado, CEO (Xchange.Loans Inc.)

      12:45 PM
      Lunch



      1:50 PM
      Executing a Successful Receivership

        • How has the outlook changed for receiverships as a workout remedy?
        • Which asset classes and markets have been most significantly impacted in the past year?
        • What are some of the lesser-known challenges and keys to success in executing receiverships?
        • What questions should you be asking your receiver?
        • What do all parties need to know about the initial receivership order, powers and authorities and reporting requirements to the court?
        • Lessons learned from more complex or less successful receiverships?
        • Thoughts on remainder of 2022 and 2023
        • Creditor workout strategies when borrower files BK
          • Creditor’s rights discussion – tips, strategies, thoughts of workout and legal folks
          • Creditor strategies for forcing involuntary BK or state receivership proceeding as part of workout
          • Using involuntary BK and state receivership to creditor’s advantage
          • When to use involuntary BK or state receiverships / when not to use
        • Benefits of state receivership over BK; vice versa
          • Is one better than the other?
          • When to use one over the other; state-specific receiverships (some are better than others)
        • How to prepare for or reducing prevalence of BK/receivership filings through workout and related agreements with borrowers
        • Loan sale market for loans in BK or receivership
          • From buyer side:
            • what to look for
            • how to find good deals
            • When to buy after a filing? Right away? After plan filed?
        • From sell side:
          • what effect do these BK/receiverships have on pricing
          • Do you sell or do you keep after a filing?  When to sell after a BK filing? Right away or after plan?
        • What’s unique about selling notes in the context of BK or state-receiverships?


        • Erin West, Attorney (Godfrey & Kahn)
        • Rebecca DeMarb, Senior Managing Director (Development Specialists, Inc.)
        • Matthew Tarshis, Principal/Managing Partner (Frontline Real Estate Partners)
        • John Rothschild, Jr., Director, Receiverships / Special Assets Group (Newmark Knight Frank)

      2:35 PM
      Distressed Opportunities/Challenges in the Hospitality Sector

        • What will the recovery look like for different hotel property types?  Independents, brands, luxury, motels, resorts etc.
        • State of the industry as to the potential for underperforming hotels loans, defaults, and foreclosures
        • What strategies are investors and lenders employing to find value in this environment?
        • Which capital sources are most attractive right now for owners?
        • How are terms changing for preferred equity, senior and mezzanine debt?
        • Identifying and evaluating value-add opportunities in the hospitality sector
        • How will short-term rentals impact the hotel industry moving forward?
        • An update on hotel development and supply vs. demand dynamics in urban vs. suburban geos
        • How has the health crisis changed the way hotels are going to be designed?
        • What tech are you investing in and why? How do you anticipate tech will further impact how hotels do business in the next 2-3 years?
        • Issues for lenders as to the hotel franchise and management agreements
        • What to expect in upcoming valuations during hotel dispositions and sale


        • Linzey Erickson, President & Chief Legal Officer (Legendary Capital)
        • Dennis Gemberling, Receiver/Property Manager (Perry Group International)
        • Michael Jimenez, Founder & CXO (Xchange.Loans Inc.)

      3:20 PM
      Networking Break



      3:50 PM
      Litigation: Costs, Damages, Time & Alternative Solutions

        • How has the volume of litigation changed in the past year?  Where are you targeting cases of distress?
        • Understanding the costs and time associated with litigation funding. How much is this going to cost? How long is this going to take? How do I prepare for this?
        • What non-litigious alternatives are available in various situations?
        • When might litigation be necessary? What are the best and worst possible outcomes? How do you evaluate your potential litigator? How do you devise a strategy?
        • When to settle and how to save face
        • Case studies from the last 12 months


        • William Dorsey, Partner (BlankRome)
        • Jeffrey Newton, Investment Manager and Legal Counsel (Omni Bridgeway)
        • Gino Salciccioli, VP of Portfolio Management (Michigan Business Connection)
        • Bill Serritella, Jr., Partner (Taft Stettinius & Hollister LLP)

      4:20 PM
      Chief Credit & Risk Officer Roundtable

        • What skills and credentials should senior credit and risk officers have, and how are their roles changing? How does the roles of differ at large, national banks, as compared to smaller regional and community banks and credit unions?
        • What are the key elements of the training process for in-house credit risk officers? How do you measure performance?
        • What tools do you use to understand your exposure to credit risk? What controls have you added to manage risk? How do you prioritize processes as part of your overall credit risk management strategy?
        • What underwriting risks have emerged this year, and how will they impact your bank in the long term?
        • How are you addressing cyber risk, fraud and other external threats to your bank?
        • Which processes used by FinTech firms and non-traditional lenders are applicable within your bank?
        • What are banks doing to address diversity and inclusion among chief and other senior-level risk officers?


        • Tom Constantine, EVP & Chief Credit Officer (Axos Bank)
        • Kevin Bates, Managing Director of Credit Risk Management (Bank OZK)

      5:00 PM
      Going Once, Going Twice…A Closer Look at Auctions

        • How has the auction process changed, if at all, in the last year?  Do you anticipate an increase in demand for auctions as more assets become distressed?
        • When does it make sense to hold an auction? How do you submit assets for the auction process? How profitable can they be?
        • What happens if the auction is challenged? How can the situation quickly be resolved?
        • Are live auctions more efficient than online auctions? What can you auction? What would you not want to auction?
        • Are there other methods with better efficacy than auctions? What are the risks involved in the process?


        • Bob Drury, Sr. Managing Director (CREXi)
        • Dan Osterhout, VP of Asset Recovery (Revelation Machinery)
        • Luke Schrader, Broker (Schrader Real Estate and Auction Co., Inc.)

      5:30 PM
      Cocktail Reception



    Friday, October 28th, 2022

      8:00 AM
      Breakfast



      9:00 AM
      C&I Loans Market Review & Outlook

        • What are current credit conditions? Do you see things tightening up or relaxing? How do you see spreads moving? What does this indicate for the market as a whole?
        • Has your risk tolerance risen? What is liquidity line in secondary markets? Why are clients applying for loans? Capital improvements?
        • What is the current borrower appetite for non-bank sources of capital?  What is the demand for re-fis?
        • What do you foresee for interest rates and their impact on C&I borrowing?
        • How impactful are C&I loans to your business? Are you scaling up or scaling down? What happens when rates rise? How are you positioned?
        • What new risks are facing C&I loans in existing bank portfolios as a result of rising interest rates and compression of borrowers’ operating margins?
        • What types of workout and exit strategies are being employed by lenders in regard to non-performing C&I loans, and to what extent do lenders seek to involve third party turnaround professionals in C&I loan workout and exit strategies?
        • To what extent are lenders shifting from forbearance to enforcement of remedies and active loan workout in regard to non-performing C&I loans?
        • Which new risks are facing C&I Loans in the current environment in your existing portfolio?


        • Steven Hislop, Group Leader - Underwriting (Midwest, Inc)
        • Howard Siegel, Partner (Euclid Investments LP)
        • Kenneth Yager, President (Newpoint Advisors Corportation)
        • Terry O'Grady, Managing Director (Webster Bank)
        • Robert Shanahan, President (Wintrust Business Credit)

      9:45 AM
      Community Banks, Credit Unions, Regional Banks: Understanding Nuances, Niches & Legal Issues

        • Throughout the region, smaller, purpose driven banking institutions have always played an important role. This session examines the continued need for community banks, credit unions & regional banks and the different niches they occupy.
        • How have the balances at credit unions grown? How are they appealing to Millennials? What sort of experience and service do they need to stay competitive?
        • Community Banks may have more variety than Credit Unions, but how do they settle on their specialty? Does technology make it easier to remain profitable?
        • Regional banks tend to have the largest footprint and drive localized consolidation—how do they keep from becoming acquisition targets while expanding their own books of business? Are JV’s with non-bank platforms in the future? What is the regulatory burden like?


        • Gino Salciccioli, VP of Portfolio Management (Michigan Business Connection)
        • Jim Ketchersid, SVP, Senior Credit Administrator (Farmers & Merchants Bank of Long Beach)
        • Danny Bishop, SVP, Special Assets (Texas Capital Bank)
        • Greg Beach, Vice President (Core Bank)

      10:30 AM
      Networking Break



      11:00 AM
      CMBS Outlook & Special Servicing Updates

        • How have issuances rebounded in the last 6 months?
        • How is forbearance, default and discounted loan sales activity changing?
        • In what ways have workout/modification strategies changed in the past year as the pandemic recovery has progressed?
        • Are you expecting a continued recovery or more volatility over the next 6-12 months?
        • Which deal types have investors been targeting?


      11:30 AM
      Workout Groups: The Talent Dilemma

        • How has recent retirements in the workout groups changed the future landscape of the workout industry?  Or will it?
        • Diverse Hires
        • How are the workout groups structured in your institution?  Are they specialized specific like C&I and CRE?  Are they structured by small business, middle market and large corporate segments?
        • How is your institution preparing for succession planning?
        • How long does it take to train a young workout officer?
        • Why should having workout experience matter to any Bank?
          • What are some of the down sides to not having a “deep bench”?
        • How do Banks realize the benefits of spending the money to attract, retain and train experienced workout professionals?
        • What does it mean to a consultant or attorney when dealing with a seasoned workout officer vs. someone green?


        • Edmond Burke, Attorney (Chuhak & Tecson P.C.)
        • Jessica Bent, Group Head, Special Assets (Capital One)
        • Mark Iammartino, Senior Managing Director (Development Specialists Inc.)
        • John Hecker, Senior Vice President (Key Bank )

      12:30 PM
      Conference Concludes



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  • *Banker (Special Assets/Credit Professionals) - Early Bird - $995
  • Early Bird Registration - $1,795
  • Standard Registration - $1,995
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Contact Us

Venue

  • Conference Venue
  • Renaissance Chicago Downtown Hotel


    1 West Wacker Drive
    Chicago, IL, 60601
    USA
    Fax: 312-372-0093

    Additional Info:

    Please use the link above to book a room in IMN's room block, pending availability, until our cutoff date of Wednesday, October 5th. Please note there is a two night minimum to reserve a room in our block. IMPORTANT NOTE: IMN has not retained any third party booking company to assist with reservations. If you are interested in making reservations at the Renaissance Chicago Downtown Hotel you must book those rooms directly with the venue. 
  • Suggested Hotel
  • Cambria Hotel Chicago Loop - Theatre District


    32 W Randolph St
    Chicago, IL, 60601


    Additional Info: IMN does not have a room block at this hotel.
  • Suggested Hotel
  • Kimpton Hotel Monaco Chicago


    225 N Wabash Ave
    Chicago, IL, 60601


    Additional Info: IMN does not have a room block at this hotel.
  • Suggested Hotel
  • Hampton Inn Chicago Downtown/N Loop/Michigan Ave


    68 E Wacker Pl
    Chicago, IL, 60601


    Additional Info: IMN does not have a room block at this hotel.
  • Suggested Hotel
  • Hilton Garden Inn Chicago Downtown Riverwalk


    66 E Wacker Pl
    Chicago, IL, 60601


    Additional Info: IMN does not have a room block at this hotel.
  • Suggested Hotel
  • Hotel Chicago Downtown, Autograph Collection


    333 N Dearborn St
    Chicago, IL, 60654


    Additional Info: IMN does not have a room block at this hotel.

Speakers


1120 Avenue of the Americas, 6th Floor, New York, NY 10036
Tel: +1(212)901-0506 Fax: +1(212)768-2484
Email: mail@imn.org


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