Tittle Advisory Group, Inc. Announced Today John Tittle To Speak On Single Asset Real Estate Reorganizations At Bankruptcy Conference
Tittle Advisory Group, Inc. (TAG) announced today that John Tittle, a seasoned expert witness and long-time restructuring professional, will be participating in a panel discussion at the 33rd Annual Midwestern Bankruptcy Institute & Consumer Forum.
Online, September 17, 2013 (Newswire.com) - Tittle Advisory Group, Inc. (TAG) announced today that John Tittle, a seasoned expert witness and long-time restructuring professional, will be participating in a panel discussion at the 33rd Annual Midwestern Bankruptcy Institute & Consumer Forum. The panel will address hot topics in Single-Asset Real Estate Reorganizations and will be held on Friday, October 4th, 2013, from 11:00 a.m. to 12:00 p.m. CDT, at the Kansas City Marriott Downtown.
In making its presentation, the panel will lead an interactive discussion on such topics as Single Asset Real Estate cases generally, the use and consequences of an election under Section 1111(b) of the Bankruptcy Code, and the controversy surrounding cramdown interest rates, among others. Audience participation will be engendered through the use of a case study dealing with pertinent issues. Mark Stingley, a partner with the firm of Bryan Cave LLP in Kansas City, MO, and a board member of the American Bankruptcy Institute, will act as moderator of the panel. Joining Mr. Stingley and Mr. Tittle on the panel will be the Honorable Kevin R. Huennekens, U.S. Bankruptcy Judge for the Eastern District of Virginia (Richmond); James A. Lodoen, partner with Lindquist & Vennum LLP, Minneapolis, MN; and David Peress, Executive Vice President at Hilco Streambank, Needham, MA.
Mr. Tittle's focus on the panel discussion will be cramdown interest rates. The cramdown provisions of the Bankruptcy Code allow a Debtor to confirm a Plan of Reorganization over the objections of a secured creditor if certain conditions are met. Where finance intersects law is that, in order for the Debtor to successfully cramdown a secured creditor, it must provide that creditor the present value of its claim. Normally, this issue relates to the present value of a stream of deferred cash payments that will be received by the secured creditor over time pursuant to the proposed Plan of Reorganization. Present value is a finance concept which involves the idea that a dollar received tomorrow is not worth the same as a dollar today. Why? The future is not certain and the specter of risk enters the picture. Moreover, the dollar today could be invested and would potentially involve a larger sum tomorrow. Therefore, the dollar received tomorrow must be discounted to determine its value today to account for these issues. Simple? Hardly. There is significant controversy and differences of opinion among Courts and attorneys as to the proper computation of the present value factor in this context.
In discussing the panel, Mr. Tittle suggests, "This topic is right in my wheel house. The present value or discount rate in question involves the same process as assessing the cost of capital in connection with a valuation or due diligence exercise, with the difference being the overlay of case law. When making these calculations and testifying in contested cramdown matters, the financial expert must work closely with counsel to ensure the proper application of case law to the process. I look forward to participating in a lively and thought-provoking panel discussion on this and other topics at the upcoming bankruptcy conference."
John Tittle, Jr., CPA/CFF/CGMA, CTP, CIRA, CDBV established TAG in early 2011, having over 30 years of accounting, financial, and consulting experience including service as an executive with a publicly-traded consumer goods company as well as serving as a Partner and Director with Big Four/Six Firms and Partner/Principal with various financial advisory boutiques. Having testified as an expert witness over 100 times in various jurisdictions across the country, Mr. Tittle has been retained over the years in numerous cases in which he had to opine and render testimony relative to tracing projects on behalf of various constituents, recharacterization issues, accounting and financial matters, damage calculation projects, valuation and solvency issues, and other adversary proceedings in a bankruptcy context. In addition to numerous matters in bankruptcy court as alluded to previously, John has been retained and/or testified in criminal law, employment law, lost profits, breach of contract, intellectual property, accounting, and domestic-relations/divorce matters. He is a frequent speaker on financial and restructuring topics and currently serves as the Treasurer of the American Bankruptcy Institute, having served on its Board of Directors since 2002.
About Tittle Advisory Group, Inc.
TAG is a consulting and management services firm, with offices in New York and Irving (Dallas), which provides solutions to the issues faced by our clients. Our solutions are centered around bankruptcy advisory and restructuring services on behalf of varied stakeholders in the bankruptcy and turnaround arenas; advisory work in merger and acquisition activities; enterprise business valuations for various purposes, including solvency opinions; and expert witness and dispute consulting services in insolvency and commercial litigation matters. These focused services are: (1) Bankruptcy and Restructuring; (2) Expert Witness and Dispute Consulting; (3) Business Valuation and Solvency Opinions; and (4) Merger and Acquisition Consulting/Due Diligence.
TAG is not a CPA firm.
Contact: John Tittle, Jr., President
New York: (212) 328-9498
(646) 660-5277
Texas: (972) 739-6044
(817) 312-9691
