Managing Director David Powlen Is Speaker at 14th Annual Distressed Investing Conference in New York City

November 26, 2007

Managing Director David Powlen spoke on a panel entitled “Successful Strategies for Your Position in the Capital Structure” on November 26, 2007, during the 14th annual Distressed Investing conference sponsored by Beard Group and Renaissance American Management in New York, NY. The panel addressed implications of increased trading in claims and the participation of hedge funds and other non-traditional players in restructurings and reorganization cases, and reviewed recent judicial decisions involving clashes between holders of claims and interests with different rights and priorities in the capital structure of financially distressed companies. .