2:30pm   Opening Remarks by the Chair.

2:35pm   Getting the Benefit of Your Preference.  Investors often demand a preferential return on 
and of their invested capital.  Although the relevant provisions may seem straight forward, they can in fact be extremely complex.  This panel will discuss various preference provisions and will highlight the significant issues to be considered and addressed by investors and their advisors.  Moderator: Todd D. Golub, Baker & McKenzie LLP, Chicago, IL. Panelists: Sheldon I. Banoff, Katten Muchin Rosenman LLP, Chicago, IL; Carlene Y. Miller, Snell & Wilmer LLP, Phoenix, AZ.

3:30pm   Debt for Equity Swaps.  With the extension of section 108(e)(8) to partnerships, a traditional workout tool is no longer easy to use.  Although we are now in boom times, workout skills will inevitably be needed again.  This panel will explore section 108(e)(8) and related planning possibilities and pitfalls.  Moderator: Patrick O’Daniel, Jenkens & Gilchrist, Austin, TX.  Panelists: Magda B. Szabo, Calfee, Halter & Griswold LLP, Cleveland, OH; Fred T. Witt Jr., Deloitte Tax LLP, Phoenix, AZ; and Matthew Lay, Attorney-Advisor, Office of Tax Legislative Counsel, Department of Treasury, Washington, DC. 

4:10pm   Contingent Liabilities and Deferred Income in Partnership Transactions.  Contingent liabilities have been the subject of considerable attention by the government, as is evidenced by the regulations under section 1.752-7.  In addition, deferred income, as well as contingent liabilities not subject to the regulations under section 1.752-7, can dramatically affect partnership planning.  This panel will discuss the various issues raised by these items, with an emphasis on how to avoid problems and maximize after-tax returns.  Moderator: Professor Howard E. Abrams, Emory University Law School, Atlanta, GA.  Panelists: Eric B. Sloan, Deloitte Tax LLP, New York, NY; Sandra Favelukes O’Neill, Foley Hoag LLP, Boston, MA; and Jeanne M. Sullivan, Senior Technician Reviewer, Associate Chief Counsel, Passthroughs & Special Industries, IRS, Washington, DC. 

5:05pm   Hot Topics in Partnerships.  This panel will discuss hot topics in partnership taxation, including legislation, regulations, and other administrative guidance.  Moderator:  Christopher S. McLoon, Verrill Dana LLP, Portland, ME.  Panelists:  Steven R. Schneider, Miller & Chevalier Chartered, Washington, DC; and Jeanne M. Sullivan, Senior Technician Reviewer, Associate Chief Counsel, Passthroughs & Special Industries, IRS, Washington, DC.