Mealey s Subprime Mortgage Litigation Conference

Transcription

1 9+ CLE Credit Hours Available * Mealey s Subprime Mortgage Litigation Conference Insurance coverage issues arising from this escalating area of economic risk & litigation D&O and fiduciary liability concerns Mortgage-backed securities suits Bankruptcy challenges Defense costs and cooperation Settlements with regulators Legislative developments Co-Chairs: Matthew Jacobs, Esq. Jenner & Block LLP Washington, DC Kevin LaCroix, Esq. Oakbridge Insurance Services Beachwood, OH October 29 30, 2007 The InterContinental Chicago

2 Registration Form Mealey s Subprime Mortgage Litigation Conference, October 29 30, 2007, The InterContinental, Chicago. Register for the conference. Multiple attendees: please submit form for each attendee. Written materials on CD for $175 (U.S. & Canada: Please add appropriate sales tax to your order.) Multimedia CD of this conference for $399. The CD includes audio recordings, written speaker materials and presentations. (U.S. & Canada: Please add appropriate sales tax to your order.) Please send me information on: Self-study Online CLE programs through lexis.com. Group or package pricing. Sponsorship and exhibit opportunities. Three-month trial subscription to LexisNexis Real Estate Report. Name (to receive your confirmation via ) Title Firm/Company Address City/State/Zip Country Telephone Fax Registration rate: Bill me check here for Passport Discount members Check enclosed (Please make checks payable to LexisNexis Mealey s. Send payment in U.S. funds drawn on a U.S. bank.) Charge my: VISA MasterCard American Express Account # Expiration Date / Signature 0707L Please remove me from the Web site networking attendee preview list. register online: phone: 800-MEALEYS or fax: payments: LexisNexis Mealey s, P.O. Box , Philadelphia, PA

3 Registration Information Registration Fee The registration fee includes attendance at all conference sessions, a copy of the conference handbook on CD, continental breakfast each day, one luncheon, networking reception, coffee breaks and continuing education credit processing. The registration fee is $1195 for the first attendee. Once registered, your name and company name will appear on an attendee list used to promote the conference. To decline from this opportunity, please check the box on the registration form. Special Discounts * Early-bird registration, by September 17, 2007 $1095 (save $100) Additional registrants from the same firm or company $1045 (save $150) Corporate discount $995 (save $200) Government employees $896 (save $299) Paralegals $598 (save $597) Sitting Judges or Special Masters attend free Group Pricing and Passport Packages Available contact Mealey s regarding additional savings for your firm s practice group or legal department. Package pricing available for a single conference or a series of conferences. CLE, CPD & CPCU Credits Included Mealey s conferences are worth an average of 9 to 12 CLE credit hours. CLE credit will be available for all mandatory CLE states. International accreditation will also be available at this conference, as will CPCU credit through the American Institute for CPCU. For more information or to confirm the exact CLE credit approval for your state(s) of license, please visit How to Register Please register online at call , fax your registration form to , mealeyseminars@lexisnexis.com or mail your registration form with payment to LexisNexis Mealey s, P.O. Box , Philadelphia, PA Receipt of payment guarantees your registration. Walk-in registrations are welcome, however please call in advance to confirm availability. A $75 service fee may be charged for any on-site registrations. Cancellation Policy Substitutions are welcome at any time. Registrants who are paid in full but do not attend the conference forfeit a refund or credit. Registrants who cancel up to 6 weeks prior to the conference date will receive a full refund. Registrants canceling from 6 weeks to 4 weeks prior to the conference date will receive a full credit toward another Mealey Conference product. Registrants canceling from 4 weeks to 2 weeks prior to the conference date will be subject to a 25% administrative fee; the remaining amount will be credited toward another Mealey s Conference product. Cancellations made within 2 weeks prior of the conference date will be subject to a 50% administrative fee; the remaining amount will be credited toward another Mealey s Conference product. Credits must be used within six months of the date of issuance. Mealey s reserves the right to cancel any of its programs. Speakers, sessions and times are subject to change. Conference Venue & Hotel Accommodations The InterContinental is located at 505 North Michigan Avenue, just 35 minutes from O Hare Airport. Attendees should make reservations directly with the hotel by calling When making reservations, indicate that you are attending Mealey s Subprime Mortgage Litigation Conference, October 29 30, A block of rooms has been reserved for attendees at a rate of $279 a night for a single or double room. The cut-off date for this rate is September 7. After that date, this rate will be offered based on space availability. Please note, there is a limited number of rooms in our room block so make your reservations early. For alternative hotels, please call us at Special Needs Should you have any special needs, please contact Mealey s at least three weeks prior to the conference, to allow us time to make reasonable accommodations. Can t Attend in Person? Purchase the Conference on CD Mealey s Multimedia Service allows you to bring the best of our live programs to your home or office. The CD includes audio recordings and speaker materials for only $399 or purchase the speaker materials on CD for $175. Prepayment is required. The CDs are nonrefundable. Call MEALEYS or mealeyseminars@lexisnexis.com for more information. Visit for a complete list of recorded programs. Sponsorship & Exhibit Opportunities Increase your exposure, maintain contacts, obtain new leads by sponsoring an event or exhibiting at this conference. Contact Lynnsey Perrin Hee at for details. * Cannot be combined with any other offer. Discounts do not apply to single or half-day registrations. Corporate discount not applicable to law firms or outside counsel. Approval pending at time of printing.

4 Mealey s Subprime Mortgage Litigation Conference Why you should attend Banking institutions estimate over $500 billion in adjustable-rate home loans more than 70% of which are to subprime borrowers will receive higher monthly mortgage bills at the end of Another $600 billion will adjust in Depending on how many of these mortgages default, the ripple effect across the financial and insurance industries will be seismic. At Mealey s Subprime Mortgage Litigation Conference attendees will receive a breakdown of the key players, the current suits, and the critical insurance coverage issues arising out of subprime lending litigation, including how to negotiate settlement and attorney fees. You ll learn what to expect in the coming months so you can prepare your clients or company. Already the SEC, a number of attorneys general, the U.S. Dept. of Justice and NY Stock Exchange have launched investigations against a number of subprime lenders. Homeowners are suing lenders, brokers and construction companies. Investors in mortgage-backed securities are suing major banks. The investment banks are turning around and suing the mortgage firms. Beazer Homes and Toll Brothers are already facing securities class action lawsuits. Shareholders who purchased securitized subprime mortgage bonds are suing institutional investors alleging securities fraud and inadequate disclosure such as Bankers Life Insurance s suit against Credit Suisse. How will D&O coverage play out in the coming avalanche of litigation? Will dishonesty/criminal misconduct exclusions get carriers off the hook? How do you get multiple defendants each of whom wants their own counsel to cooperate? How is coverage affected when defendants go bankrupt? You ll find all the answers pertaining to this growing area of economic risk and litigation at Mealey s Subprime Mortgage Litigation Conference. How you will benefit Examine the first wave of complaints filed and upcoming investor suits Find out how D&O coverages/exclusions apply if there is a claim Learn how to get your case on track and defendants cooperating Discover how to handle regulatory fines not covered by insurance Understand how subprime investments could affect policy renewal Get up to date on fiduciary liability coverage, pension and ERISA suits See what happens when a defendant goes bankrupt and policies are treated as an estate asset Discuss future legislation and new Federal Reserve Board regulations You ll network with Fellow attorneys, insurance executives, in-house counsel and expert economists. Whether at breakfast, lunch, or the networking reception, you ll have ample opportunity to exchange business cards and ideas.

5 9+ CLE Credit Hours Available * Mealey s Subprime Mortgage Litigation Conference October 29 30, 2007 The InterContinental, Chicago Insurance coverage issues arising from this escalating area of economic risk and litigation D&O and fiduciary liability concerns Upcoming mortgage-backed securities suits Bankruptcy challenges Defense costs and cooperation Settlements with regulators Legislative developments Sponsors and Exhibitors include: * Approval pending at time of printing. LexisNexis Mealey s 1018 West Ninth Avenue, 3rd Floor King of Prussia, PA Register online at: Corporate Discount! Save $200 FIRST-CLASS MAIL U.S. POSTAGE PAID LexisNexis

6 Mealey s Subprime Mortg October 29 30, 2007, The InterContinental, Chicago View updates to the agenda and faculty at Monday, October 29, :00 Registration and Continental Breakfast 8:45 Introduction and Opening Remarks Matthew Jacobs, Esq., Jenner & Block LLP, Kevin LaCroix, Esq., OakBridge Insurance Services, Beachwood, OH 9:00 How Does the Subprime Lending Market Work? Andrew Carron, PhD, President, NERA Economic Consulting, New York 9:45 Overview of the Exposures Facing Participants in the Subprime Lending Market Brokers Lenders Investment banks Hedge funds Home construction companies Officer and directors of all participants Other Specific cases to be discussed: Bankers Life Ins. Co. v. Credit Suisse First Boston, et al. Grand Lodge of Pa., et al. v. Brian P. Peters, et al., No. Max Pourshafie, et al. v. Accredited Home Lenders Holding Co., et al. L. Adel Turki, Vice President, Cornerstone Research, Andrew Sandler, Esq., Skadden, Arps, Slate, Meagher & Flom LLP, Washington, DC 10:45 Morning Break 11:00 Coverage Issues Arising from Subprime Lending Is there a claim Defense costs advance or reimburse Loss/damages Allocation issues Exclusions John McCarrick, Esq., Edwards Angell Palmer & Dodge LLP, New York Lorelie Masters, Esq., Jenner & Block LLP, 12:00 Networking Luncheon Sponsored by NERA Economic Consulting

7 age Litigation Conference 1:15 The Relief Being Sought: Potentially Covered or Not? Damages ERISA relief Injunctive relief Restitution Disgorgement Governance changes Other Dan Bailey, Esq., Bailey Cavalieri LLP, Columbus, OH Mitchell Dolin, Esq., Covington & Burling LLP, 2:15 Defense Cost and Cooperation Issues Multiple parties, multiple counsel? Coverage for costs of investigation Satisfying the self-insured retention Covered, uncovered claims and parties Philip Hecht, Esq., K&L Gates, Mary Anne Mullin, Assistant Vice President, CNA Pro Open Brokerage Claim, New York 3:15 Afternoon Break 3:30 Specific Exclusions to Coverage: Which are Most Likely to Come Up in the Context of Subprime Lending Investigations and Lawsuits? Conduct exclusions (personal profit, fraud/dishonesty) Policy definitions: Loss, claim Rescission, application severability issues Priority of payments James Murray, Esq., Dickstein Shapiro LLP, Richard Bortnick, Esq., Cozen O Connor, West Conshohocken, PA 4:30 Bankruptcy Issues What have we learned from asbestos bankruptcies? Procedural challenges Specific exclusions to coverage or carve outs Thomas Judge, Esq., Thompson, Loss and Judge, LLP, Additional speaker to be announced 5:30 Adjourn

8 Tuesday, October 30, :30 Continental Breakfast 9:00 Settlement Issues: Settlements with Private Parties/Government Regulators What are the different considerations? Consent to settlement Different forms of relief Insurance carrier involvement or not Karen Reardon, Esq., Reardon, Golinkin & Reed, Chicago Additional speaker to be announced 10:00 Morning Break 10:15 Policy Renewal Issues Analysis of key issues relating to renewal efforts The impact of increasing regulatory initiatives on renewal The negotiability of various anticipated and new exclusionary endorsements Christopher Butler, Esq., Assistant Vice President, Hartford Financial Products, New York David Hensler, Esq., Hogan & Hartson LLP, Patricia Bernasconi, Senior Managing Director, Frank Crystal & Co., Inc., New York David Goodwin, Esq., Heller Ehrman LLP, San Francisco 11:15 Legislative Developments Relating to Subprime Lending Issues Will Congress pass a national anti-predatory lending bill this year? What role will regulatory action play in shaping the debate? Can the industry and consumer groups reach consensus on the key issues Steve O Connor, Senior Vice President, Public Policy, Mortgage Bankers Association, Steven Kaplan, Esq., K&L Gates, 12:15 Adjourn Updates Available View agenda updates, speaker additions, available discounts, CLE information, registration information and more at our Web site:

9 The Co-Chairs Matthew Jacobs, Esq., is a partner in Jenner & Block s office. He is a member of the firm s Litigation Department and its Insurance Litigation and Counseling, Professional Liability Litigation, and Arbitration: Domestic and International Practices. He is responsible for complex, multiparty insurance coverage litigation matters in state and federal courts, and he regularly advises corporations on the availability of insurance coverage for a wide variety of claims, including those related to directors and officer s liability, errors and omissions, mortgage lending practices, mutual fund exposures, regulatory investigations, and first-party property claims. He has litigated on behalf of and has advised clients in the insurance coverage area for the past 23 years, spending much of that time litigating large, multi-party, multi-site environmental matters. Kevin LaCroix, Esq., is a Director of OakBridge Insurance Services, in Beachwood, Ohio. OakBridge is an insurance intermediary focused exclusively on management liability issues. Kevin has been involved in directors and officers liability insurance issues for nearly 25 years. He began his career as a coverage attorney and partner at the law firm of Ross, Dixon and Bell. More recently, Kevin served as President of Genesis Professional Liability Managers, a D & O underwriter and part of the Berkshire Hathaway group of companies. Throughout his career, Kevin has been active in the Professional Liability Underwriting Society (PLUS), serving on its Board of Trustees from 1999 to 2005, and as its President in He is currently a member of the Board of Trustees of the PLUS Foundation. Kevin is also the author of the widely read Internet Weblog, The D&O Diary. Corporate Rate Save $200 Are you an in-house counsel, a risk manager, or a claims manager for an insurance company or other corporation? You can receive a $200 discount when attending Mealey s Subprime Mortgage Litigation Conference. For additional discount information please visit www. lexisnexis.com/conferences or call MEALEYS. *Please view the Registration Information page for additional discount details. LexisNexis, the Knowledge Burst logo and lexis.com are registered trademar

10 Conference Faculty Co-Chairs Matthew Jacobs, Esq. Jenner & Block LLP Kevin LaCroix, Esq. OakBridge Insurance Services Beachwood, OH Faculty Dan Bailey, Esq. Bailey Cavalieri LLP Columbus, OH Patricia Bernasconi Senior Managing Director Frank Crystal & Co., Inc., New York Richard Bortnick, Esq. Cozen O Connor West Conshohocken, PA Christopher Butler, Esq. Assistant Vice President, Hartford Financial Products, New York Andrew Carron, PhD President, NERA Economic Consulting, New York Mitchell Dolin, Esq. Covington & Burling LLP David Goodwin, Esq. Heller Ehrman LLP San Francisco Philip Hecht, Esq. K&L Gates David Hensler, Esq. Hogan & Hartson LLP Thomas Judge, Esq. Thompson, Loss and Judge, LLP Steven Kaplan, Esq. K&L Gates Lorelie Masters, Esq. Jenner & Block LLP John McCarrick, Esq. Edwards Angell Palmer & Dodge LLP, New York Mary Anne Mullin Assistant Vice President CNA Pro Open Brokerage Claim New York James Murray, Esq. Dickstein Shapiro LLP Steve O Connor Senior Vice President, Public Policy Mortgage Bankers Association Karen Reardon, Esq. Reardon, Golinkin & Reed Chicago Andrew Sandler, Esq. Skadden, Arps, Slate, Meagher & Flom LLP, Washington, DC L. Adel Turki Vice President, Cornerstone Research, ks of Reed Elsevier Properties Inc., used under license. Mealey s is a trademark of LexisNexis, a division of Reed Elsevier Inc LexisNexis, a division of Reed Elsevier Inc. All rights reserved. MEA