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Pocket MBA Fall 2016: Finance for Lawyers and Other Professionals

Speaker(s): Alan Bell, Bharath Lakshmanan, Briana Richards, Catherine L. Bromilow, Christine Croft, John C. Ericson, John Moyer, Joon Ko, Joseph A. Castelluccio, Ken Ziman, Kenneth M. Wolff, Laura A. Kaufmann Belkhayat, Lorin L. Reisner, Matt Shelhorse, Michael A. Skrief, Nels A. Pearsall, Ozgur B. Kan, Philip J. Antoon, Robert Berger, Sloane Menkes, Steven F. Crooke, Ted Shanahan, Timothy J. Treanor, Veronica Moo
Recorded on: Oct. 6, 2016
PLI Program #: 150094

John Ericson is a Partner at Simpson Thacher & Bartlett LLP, where he is a member of the Firm’s Corporate Department. John represents underwriters and issuers in a wide variety of capital markets offerings. His extensive corporate finance experience includes high yield and investment grade debt offerings, IPOs and secondary offerings, acquisition finance and restructurings.

John’s transactional work spans several industries, including the consumer/retail, healthcare, manufacturing and telecommunications sectors.  He has advised:

  • the underwriters in the IPOs and/or secondary offerings of Planet Fitness, SiteOne Landscape Supply, ServiceMaster, Bright Horizons, Generac and other issuers,
  • the underwriters in debt offerings involving Hyatt Hotels, Universal Health Services, Neuberger Berman, AV Homes, General Cable Corporation, American Equity Life, Thompson Creek Metals Company and others, and
  • the underwriters or issuers in high yield and bridge financing for the leveraged buyouts of HCA, HD Supply, Immucor, Pinnacle Foods, Reader’s Digest, ServiceMaster and Sterigenics.

Fluent in Portuguese, John’s work has often involved Brazilian and Portuguese companies, including transactions by Pharol/Portugal Telecom, BRF–Brasil Foods, DASA–Diagnósticos da América, EDP–Energias do Brasil, Embraer, JBS S.A. and Natura Cosméticos.

Born in the United States, John spent most of his first 18 years in Lisbon, Portugal. In 1993, he received a B.A. in Political Science from Amherst College, where he was elected to Phi Beta Kappa. After working briefly in Washington, D.C., for Congressman James A. Leach, John graduated in 1997 from Yale Law School, where he was an Articles Editor of the Yale Journal of International Law and a Co-Director of the Street Law Program. John is Co-Chair of the Firm’s Diversity Committee.

Sloane Menkes is a Principal with PwC’s Forensic Services Advisory practice in the US.  She coordinates the firm’s Global Crisis Centre activity for clients globally, and specifically those in Asia-Pacific and Americas countries. She helps clients prepare for, respond to and recover from crisis. With a career that began in the US Air Force, she has over twenty years of professional services experience across the full lifecycle of information technology, human capital and transformative program implementations.

Sloane brings together multiple skilled teams with a holistic end to end crisis capability. Her teams address crisis with the strategies, tools and capabilities to prepare for, avoid, mitigate and manage crises should an organization encounter an event.  She helps clients who find themselves responding to crisis by enabling them to react quickly and effectively by organizing, analyzing, and resolving crises as efficiently as possible, while taking the critical steps to preserve valuable data and information. She enables clients to emerge from a crisis, getting them back to business and capitalizing on the “new normal.” Recent experience includes the technical analysis and global distribution of sensitive data related to a crisis, enabling crisis response throughout the client organization.

Ms. Menkes has led the practice startup and development of two client services areas for PwC including cyber security implementation and Public Sector.  As the lead partner for the US Department of Veterans Affairs (VA), she provided the strategic leadership of the design, development and implementation for an innovative agile suicide prevention innovation for a federal agency. Her career includes experience in commercial and federal clients across industries. Her range of project experience includes cyber security, technology program development, transformational change, streamlining operational procedures, developing security implementation strategies, crisis management and agile IT implementations.  She has maintained her certification as a Certified Information Systems Security Professional (CISSP) since 1999.

Bharath Lakshmanan is a Principal in the Transaction Advisory Services Valuation and Business Modeling Practice at Ernst & Young, LLP. He is   primarily  responsible  for  providing valuation services to clients for financial and tax reporting/planning purposes as well as assisting clients with strategic decisions around expansion into new markets, joint ventures and other strategic alliances.

Relevant Experience

  • Bharath has been active in valuation, business modeling and financial analysis for fifteen years, with over nine years of valuation experience at EY. Bharath’s other experiences include corporate strategic planning, M&A, joint venture contributions/investments and other strategic investment decisions.
  • At Ernst & Young, Bharath has specialized in leading large, complex valuation analyses and financial model analyses for a variety of purposes, such as transactional analysis, financial reporting, tax restructurings and strategic planning.
  • Bharath also has extensive expertise in valuation of business enterprises, equity and debt interests, and various intangible assets such as trade names, brands, customer relationships, technology, intellectual property, and covenants not to compete.
  • During his career, Bharath has worked with a variety of industries but is primarily focused on the retail, consumer products and industrial products sector. 

Education and memberships

  • Bharath received a Masters in Business Administration from Indiana University.
  • Bharath holds the Accredited Senior Appraiser designation in the Business Valuation discipline with the American Society of Appraisers.

Catherine Bromilow is a partner in PwC’s Governance Insights Center, which strives to strengthen the connection between directors, executive teams and investors by helping them navigate the evolving governance landscape.

With more than 20 years of experience at PwC, Catherine has focused solely on corporate governance.

Catherine has authored and contributed to many PwC governance publications, including the Risk Oversight Series, Going public? What you need to know about corporate governance and Director-shareholder engagement: getting it right. NACD Directorship magazine in 2019 named her for the thirteenth consecutive year as one of the 100 most influential people in corporate governance in the United States.

Catherine is a Certified Public Accountant (licensed in New Jersey) and a Chartered Professional Accountant, CPA, CA (from Canada). She holds a Master of Accounting degree from the University of Waterloo in Canada. While Catherine lives in New Jersey, she frequently travels and has met with board directors in over a dozen other countries, ranging from Brazil to Japan to South Africa.

Joe Castelluccio is a partner in Mayer Brown’s New York office and a member of the firm's Corporate & Securities practice.  He focuses his practice on complex, cross-border M&A transactions, joint ventures, equity financings and other corporate matters for U.S. and multinational companies. As a former investment banker and finance professional, Joe helps clients balance risks and opportunities in a broad array of business transactions with a combination of legal acumen and business experience.

Joe’s M&A, joint venture and other corporate work includes deep experience on cross-border transactions.  He represents companies in a diverse group of industries, including technology, asset management, insurance, transportation and infrastructure, among others.  Joe is a frequent commentator on a variety of M&A issues, including cyber and data privacy issues in M&A transactions.  His four-part report, Missiles, Malware and Merger Management: Why Cybersecurity and Data Privacy Matter to M&A Practitioners, has been published in English and Japanese.

In addition, Joe is the co-leader of Mayer Brown’s transactional liability insurance practice. In this capacity, he draws on his M&A experience in representing underwriters in issuing representations and warranties insurance and other types of transactional insurance in connection with M&A deals.  Joe is also a lecturer in Fordham Law School’s Transactional Skills for Global Legal Practice program and a faculty member for the Practising Law Institute’s seminar on Acquiring or Selling the Privately Held Company. 

Joe is a member of the Legal Advisory Council for Sanctuary for Families, the leading nonprofit organization in New York dedicated exclusively to serving the needs of domestic violence victims, sex trafficking victims, and their children. He is also a member of the Northeast Advisory Board for Youth About Business, a national youth leadership development organization that introduces high school students from diverse and underserved communities to the world of business through intensive summer M&A programs.

John Moyer has 20+ years of professional services experience and is a Director in PwC’s New York Forensic Services practice. He specializes in delivering specialized advising services to senior company management, including chief financial officers, chief legal officers, chief compliance officers and chief internal auditors. John joined the firm in 2006, previously providing litigation support on a variety of legal proceedings involving securities and accounting fraud, contracting, and bankruptcy issues.

John’s expertise includes anti-corruption and anti-fraud which includes investigations, compliance program evaluations and remediation, anti-corruption and anti-fraud control assessments and implementation, and training. Since joining the firm in 2006, John has led multiple international anti-corruption and anti-fraud compliance program, controls, investigative and remediation projects.

John advises client senior management on the development of compliance remediation programs to mitigate potential corruption and fraud risks due to gaps in global policies, procedures and controls. He has advised on several implementation assessments to identify areas of additional risk or concern based on the design, communication, training and monitoring of corporate anti-corruption and anti-fraud compliance programs. In addition, he has coordinated with chief internal auditors to develop and execute procedures to evaluate the effectiveness of established compliance programs at both corporate offices and at local operational levels.

John’s work has spanned a diverse clientele across numerous industries globally, including Agribusiness, Banking & Capital Markets, Energy & Mining, Industrial Products, Pharmaceutical & Life Sciences, Private Equity, Retail & Consumer, and Technology sectors. He has worked in over 16 countries for clients investigating and remediating corruption and fraud related issues.

John is a graduate of Fordham University earning a MBA degree in Finance and Accounting. He also holds a Bachelor of Science in Foreign Service degree from Georgetown University.

Ken Ziman joined Lazard as a Managing Director in the Global Restructuring Group in March 2016 after more than 25 years as a corporate restructuring lawyer, most recently as the deputy practice leader with Skadden Arps’ corporate restructuring practice. Previously, Mr. Ziman was a partner with Simpson Thacher & Bartlett LLP.

Historically, Mr. Ziman regularly represented clients in out-of-court restructurings and in-court proceedings, primarily focusing on representing troubled companies through all stages of the restructuring process. He will continue to advise clients in connection with liability management efforts, workouts, the formulation and development of out-of-court restructurings or Chapter 11 plans and financings. In addition, Mr. Ziman has represented and will continue to represent investors in and acquirers of financially distressed companies in workouts and Chapter 11 cases and provide advice regarding the structuring of corporate transactions.

Mr. Ziman has been repeatedly selected for inclusion in Chambers Global: The World’s Leading Lawyers for Business, Chambers USA: America’s Leading Lawyers for Business and The Best Lawyers in America. He also has been included in Turnaround & Workouts’ list of Outstanding Restructuring Lawyers as well as in Lawdragon 500 Leading Lawyers in America, the Guide to the World’s Leading Insolvency and Restructuring Lawyers and IFLR1000. He was named as a worldwide leading lawyer in Euromoney Institutional Investor’s 2015 Banking Finance and Transactional Expert Guide.

Colgate University, B.A., magna cum laude, phi beta kappa, University of Pennsylvania Law School, J.D.

Kenneth M. Wolff is a corporate attorney concentrating in mergers and acquisitions (including private equity transactions) as well as securities law and corporate governance matters.

Mr. Wolff has advised corporate and private equity clients in connection with a wide variety of U.S. and cross-border corporate transactions, including negotiated and contested acquisitions, leveraged buyouts, strategic investments and joint ventures, tender offers, spin-offs and corporate reorganizations. Mr. Wolff also has advised several of the firm’s investment banking clients in transactional work and has represented clients in equity and debt offerings. He was selected for inclusion in Chambers USA: America’s Leading Lawyers for Business 2015 and 2016. In 2011, Mr. Wolff was one of only five corporate finance attorneys named to Law360’s list of “Rising Stars,” and he also was selected by Crain’s New York Business in its “40 Under Forty” list. In 2007, Mr. Wolff was named in The New York Times as one of the “next generation of deal makers” under the age of 40.

Lorin L. Reisner is a litigation partner at Paul, Weiss, Rifkind, Wharton & Garrison LLP in New York where his practice emphasizes white collar criminal matters, government investigations and complex business litigation. He has almost three decades of experience in senior government and private sector positions.

From January 2012 through June 2014, Mr. Reisner served as Chief of the Criminal Division of the U.S. Attorney's Office for the Southern District of New York, where he supervised the investigation and prosecution of federal crimes by a team of more than 160 Assistant U.S. Attorneys. The areas under his supervision included securities and commodities fraud, complex fraud and cybercrime, public corruption, terrorism and violent crime.

From 2009 until his appointment as Chief of the Criminal Division, Mr. Reisner served as the Deputy Director of the Enforcement Division of the U.S. Securities and Exchange Commission in Washington, DC. In that position, he helped set enforcement priorities, supervised the work of more than 900 investigative professionals nationwide and oversaw the trial and related litigation activity of the Enforcement Division. While at the SEC, Mr. Reisner helped oversee and implement the most significant reorganization of the Enforcement Division in more than thirty years and helped lead the Commission’s most significant enforcement matters. From 1996 through 2009, Mr. Reisner was a litigation partner at an international law firm based in New York.

Mr. Reisner served as an Assistant U.S. Attorney in the Southern District of New York from 1990-1994. He served as a law clerk to the Honorable Milton Pollack of the Southern District of New York from 1986-1987, received his undergraduate degree from Brandeis University in 1983 and his J.D. from Harvard Law School in 1986.

Michael Skrief is a Principal in the Forensic Services practice of the New York office of PricewaterhouseCoopers LLP. He provides extensive accounting and auditing experience to attorneys and clients in litigation.  His experience includes Securities fraud class actions; anti-corruption and Foreign Corrupt Practices Act ("FCPA") investigations, compliance reviews, training, and remediation activities; financial fraud and embezzlement investigations; and forensic accounting investigations. His experiences within both Assurance and Forensic Services cover a broad range of industries, including Agriculture, Automotive, Consumer Services, Energy, Financial Services, Industrial Products, Insurance, Medical Device, Pharmaceuticals, Retail and Technology.

Mr. Skrief brings over 17 years of business experience to his clients.  He has assisted in preparing issue documents in response to SEC Subpoenas, prepared financial models and analysis for client defense, analyzed internal client documents for specific accounting issues related to SEC investigations, analyzed effects of accounting issues related to an SEC investigation to calculate damages, and employed various forensic accounting techniques to trace cash disbursements and account movements related to fraudulent activity. He has conducted interviews of company personnel; documenting existing business processes, and evaluating internal controls and analysis of specific controls that failed to detect and/or prevent the fraud investigated. Michael has also presented on multiple occasions to the U.S. Department of Justice, the U.S. Securities and Exchange Commission, and the Federal Bureau of Investigation on behalf of his clients.

Ms. Kaufmann Belkhayat’s extensive experience includes advising on issuances of investment grade and high-yield indebtedness for both issuers and underwriters across many industries.

Ms. Kaufmann Belkhayat counsels numerous REIT clients and underwriters of REIT securities in a wide variety of transactions. Among others, she has advised the joint bookrunning managers in the $650 million IPO of Extended Stay America’s paired shares, as well as the subsequent debt and equity offerings by Extended Stay America and ESH Hospitality; and the co-lead managers in the high-yield notes offerings by Ryman Hotel Properties, LP and RHP Finance Corporation. She also has represented SL Green Realty Corp. in a number of financings, including offerings of senior notes, exchangeable notes and common and preferred stock, as well as debt tender offers and issuances of units for property acquisitions. She also advised Darden Restaurants in the separation of a portion of its real estate assets into a separate, publicly traded REIT called Four Corners Property Trust and HCP, Inc. in the separation of a portion of its real estate assets into a separate, publicly traded REIT called Quality Care Properties, Inc.

Ms. Kaufmann Belkhayat advises on M&A-related matters, including in particular on private equity financings and strategic investments and financial arrangements, including preferred stock and debt instruments. Her experience in this area has included advising Permira Funds in the equity received as part of the consideration for its $3.5 billion disposition of Arysta LifeScience and its $2.8 billion sale of its portfolio company Iglo Food Holdings. She also handles acquisition financings, including for Becton Dickinson and Company in its $12.2 billion acquisition of CareFusion Corporation, as well as its post acquisition recapitalization of CareFusion’s indebtedness; and Builders FirstSource in its acquisition of ProBuild Holdings.

Ms. Kaufmann Belkhayat’s practice also focuses on representing financial institutions in connection with a variety of securities offerings, such as BlackRock, Inc. in numerous transactions, including the secondary offerings of its common stock by Bank of America, PNC and Barclays, multiple offerings senior notes and its equity exchanges with Bank of America and PNC.

Her experience with complex capital and restructurings has included Marsico Parent Company LLC and affiliates in a private placement of multiple tranches of debt and equity securities to fund the repurchase of its equity from Bank of America and subsequent restructuring transactions. She also represented iPayment Holdings, Inc. and iPayment, Inc. in the exchange of $509 million of senior notes for a combination of debt, common stock and warrants.

In addition to a wide variety of focused areas within the capital markets, Ms. Kaufmann Belkhayat also is experienced in traditional corporate financings, including both high yield and investment grade debt.

Ozgur Kan leads BRG’s Credit Risk Analytics practice and is part of the Financial Services and Securities practices. As part of his credit-related projects, he works with the firm's clients on credit analysis and assessments, credit ratings, credit modeling and validation, bond ratings advisory, underwriting due diligence, loan and lease underwriting, deal review, credit model governance, regulatory preparedness, risk compliance, and economic and regulatory capital.

Dr. Kan’s experience in expert witness/expert opinion services covers disputes and analysis of credit analysis, assessments, credit ratings and credit risk rating parameters, securities class action lawsuits, assignment of bond ratings across different industries, underwriting of loans and leases, due diligence issues, deal review, and analysis of creditors' rights.

Dr. Kan’s advisory work in the credit area includes bond rating advisory, credit rating improvement, and assignment of credit assessments to sovereign and public finance-municipal entities, commercial and industrial companies, financial institutions, banks, broker dealers, asset-backed and structured securitizations. He performs credit rating analysis and provides structuring/restructuring and bond rating advice on asset-backed securitizations, leveraged buy outs, distressed exchanges, turnarounds, and bankruptcies. Dr. Kan also focuses on the valuation of mostly credit instruments, bonds, structured deals, workout assessments for reporting, portfolio management, and capital purposes. 

Dr. Kan previously led the Credit Methodology function in GE Capital, Americas, based in Norwalk, Connecticut. He spearheaded the use of ratings and credit methodologies in underwriting, risk-lending, and origination of loan and lease transactions. He regularly participated in transactional deal teams for the origination of asset-backed loans, cash-flow loans and sponsor finance, LBO transactions and equipment leases and also trained underwriters, loan portfolio managers, internal loan/deal review, and internal audit teams. He worked on stress-testing of the credit portfolio and portfolio analytics activities.

Dr. Kan was also previously a director in the Consulting Services group of Moody’s Analytics, where he led advisory engagements with clients mostly throughout North America and South America on credit ratings, development of internal credit risk rating models and methodologies, credit assessments, recoveries, valuation of credit instruments, credit risk analytics, and corporate portfolio stress-testing across all industries. Dr. Kan also previously worked in the valuation, securities and financial services practices of Law and Economics Consulting Group (LECG) and Marshall and Stevens, and as an academic taught MBA and undergraduate courses in finance at two universities.

Robert Berger is a Director in Rothschild’s Equity Advisory group.  Mr. Berger has 17 years of investment banking and corporate finance advisory experience covering over $80 billion of transactions, including public equity, equity-linked, PIPEs, registered directs, private placements and SPACs.  He has advised on landmark transactions, including Alibaba’s $25 billion IPO, Mitsubishi UFJ’s $9 billion investment in Morgan Stanley, Teva’s $7.4 billion concurrent equity and mandatory convertible preferred offering, the Canadian Government’s $3.7 billion monetization of General Motors (2 block trades) and Markit’s $1.5 billion IPO.

Mr. Berger leads Rothschild’s healthcare equity advisory practice and has executed over 40 healthcare transactions throughout his career, including transactions for Teva, Macrocure, MediWound, Enzymotec, Kamada, Pluristem, Inhibitex, Viropharma, Connetics, Xenoport, Acorda, Dendreon and Ariad.

Prior to joining Rothschild in 2011, Mr. Berger founded Iron Hills Advisors, an investment banking boutique focused on providing independent advice on capital markets transactions.  From 1999 to 2009, he was at Lazard in the firm’s Equity Capital Markets practice.  Mr. Berger began his career at Stern Stewart & Co., a consulting firm specializing in corporate finance advisory services and the implementation of the EVA (Economic Value Added) financial management system.

Mr. Berger holds a B.S. in Economics from The Wharton School of the University of Pennsylvania.

Matt is a Partner in PwC's Forensic Services Practice in New York and serves to co-lead our forensic efforts in the retail and consumer sector.  Matt has over twenty four years of forensic accounting, consulting and financial management experience.  Matt has worked with attorneys, corporate clients, individuals and governmental agencies to assist them in a variety of matters across various industry sectors, including retail and consumer, financial services, alternative investments, real estate and not-for-profits.

Matt has experience in leading large complex engagements for multinational organizations, has worked on the ground in over twenty eight different countries and has led teams working in various other global locations.  Matt's range of experience includes providing assistance to companies with respect to certain corporate investigations, misappropriation of assets and related misconduct, corporate intelligence and background research, regulatory inquiries/examinations, governance and compliance matters, allegations of bribery and corruption, conducting risk assessments and controls testing, transactional due diligence and electronic discovery processes and related data analysis.

With respect to certain recent assignments, Matt has conducted proactive compliance/fraud risk assessments in Brazil, India, China, Hong Kong, Japan, Russia and Latin America and has worked with management to develop remediation plans to enhance their compliance and monitoring programs, including third party management and audit processes.  Matt has also assisted clients in analyzing potential acquisitions and investments in North America, Europe, Asia and Latin America.  Matt recently worked on investigation for a US company with operations in Europe focused on potential financial reporting irregularities and conflicts of interest.

In connection with certain engagement matters, Matt has interacted with and/or been interviewed by representatives of the U.S. Department of Justice, the U.S Securities and Exchange Commission, the FBI, the Office of the Comptroller of the Currency and the New York State Inspector General’s Office.  Matt has provided deposition testimony in connection with two different litigation matters and also served as an expert in a dispute involving a bankrupt financial institution.

Matt has developed and instructed training courses and case studies on fraud and forensic accounting and has lectured groups on such topics at numerous corporations, universities and professional association events, including certain American Conference Institute (ACI) programs focused on anti-corruption and FCPA.  In addition, Matt co-authored a chapter titled "Corporate Remediation" in "A Guide to Forensic Accounting Investigation" (second edition) and served as the editor of PwC's thought leadership piece titled "Cleaning Up Corruption: Why anti-corruption compliance is now on the C-Suite radar and as the host of a related four-part video series.

Matt is a Member of the AICPA and the NYSSCPA and an Associate Member of the ACFE.  Matt is a CPA in the State of New York and is Certified in Financial Forensics (CFF) by the AICPA.

Mr. Bell is a retired Ernst & Young LLP audit partner in the  international energy industry, with extensive experience dealing with the Securities and Exchange Commission (SEC), working with senior executives and boards of directors of public companies. Mr. Bell is a CPA and a petroleum engineer. 

Member of the Board of Directors

  • Approach Resources, a public oil and gas company based in Ft. Worth, since August 2010- Audit Committee Chair beginning March 2011.
  • Jones Energy, Inc., a public oil and gas company based in Austin since July 2013 when the company completed its' initial public offering -Audit Committee Chair.
  • Cinco Resources Corporation, a private oil and gas company based in Dallas, since July 2011 - Audit Committee Chair.
  • Central Energy Partners GP LLC, the general partner of Central Energy Partners LP, a Dallas based provider of liquid bulk storage, trans-loading and transportation services for chemical ands and petroleum products since December 2013 -Audit Committee Chair.
  • National Association of Corporate Directors - North Texas Chapter.
  • Dune Energy, Inc. from May 2007 to January 2012 -Audit Committee Chairman and Board Chairman (April 2011 to January 2012).
  • Toreador Resources Corporation from August 2006 until June 2009 - Audit Committee Chairman Chaired a board investigation into the reasons for poor results of exploration in Romania, Hungary and Turkey.

Chief Restructuring Officer of Energy Partners- March 15 to September 30, 2009

  • Hired by Board of Directors of this offshore oil and gas exploration and production company to manage daily operations, reduce costs, negotiate pre-arranged bankruptcy and manage the company during a complex Chapter 11 process.

Ernst & Young LLP 1973 to 2006 (Retired):

Chevron Oil Company: Petroleum Engineer- 1969 to 1972

  • Production engineer for Chevron Oil Company in the Gulf of Mexico
  • Responsible for routine operations of an offshore field and redevelopment of a major field


Petroleum Engineering --Colorado School of Mines, 1969
Master's in Business Administration -- Tulane University, 1973

Mr. Pearsall has worked as a testifying expert and economic consultant for more than 25 years and has provided opinions in matters involving economic damages and asset valuation for clients in various industries as well as for the U.S. and State Governments.  He has provided testimony regarding economic damages in commercial disputes involving, among other things, commercial fraud, real estate investment instruments, breach of contract, changes in asset and/or share value, fiduciary duty, lost wages and operating margins.  He has analyzed financial markets and instruments, quantified business interruption losses, developed economic and financial models to analyze business value and used event studies to model change in share price associated with negative activity.  He has developed analyses and directed research engagements involving industry transactions, corporate spinoffs, asset allocations, funded liabilities and market activity.

Mr. Pearsall has provided expert testimony and consulted in numerous intellectual property (IP) matters involving determinations of economic damages based on applications of reasonable royalty rates, lost profits, price erosion, and overall changes in firms’ IP asset values.  He has been retained as an expert to determine values of intellectual property assets such as patents, trademarks, copyrights, and trade secrets.  Mr. Pearsall has provided testimony and quantified damages associated with changes in firms’ sales and/or market strategy resulting from events affecting firms’ abilities to compete.  Mr. Pearsall also has testified as to the appropriateness of alternative damage calculations set forth by opposing parties.

Mr. Pearsall has worked on a variety of matters focusing on antitrust issues including attempted monopolization, price discrimination, tying, predatory pricing, price fixing, collusion, vertical and horizontal restraints.  He has submitted expert reports and developed economic analyses of liability and damage claims in antitrust matters in which allegations of anticompetitive behavior were levied.  He has developed analyses pertaining to possible antitrust issues associated with industry standardization and licensing strategies involving intellectual property assets.

Mr. Pearsall has led business consulting engagements involving market intelligence, pricing models, analyses of corporate financial data, firms’ assets, collection and interpretation of survey data, sales forecasts, economic modeling, predictive analyses, competition and marketing campaigns.  He has expertise in application of economic and financial theories in the organization and management of complex engagements as well as market analyses, acquisition of patented technologies, revenue performance, cash flow models, and industry competition.

Mr. Pearsall has a B.A. and M.A. in Economics from Virginia Tech.

Since 1989, Philip Antoon has been assisting clients worldwide in the valuation of corporate entities and intangible assets, with in-depth focus providing these valuations for U.S. and international tax purposes, as well as U.S. financial reporting purposes.

Mr. Antoon assists companies of all sizes globally with valuations of legal entities and assets for: internal tax reorganizations and spin offs; related party IP transfers for U.S. and international transfers; intercompany debt issuances, transaction allocations for IRC Sections 338 and 1060; Section 280g; FIRPTA testing; gift and estate; interest expense apportionment;  partnership basis; cost segregation; NOL limitations and built-in gains; as well as estimating preferred coupon rates and debt interest rates.  Mr. Antoon has authored numerous articles regarding valuation issues related to valuations of entities and assets for U.S. tax purposes.

Mr. Antoon has in-depth experience providing fair value analyses for ASC 350 and 805 purposes, having valued reporting units and a wide array of intangible assets including customer relationships / contracts, patented technology, trademarks / trade names, proprietary know how, in-process research and development, franchise agreements, communications licenses, reserves, backlog, databases, and non-compete agreements.

Mr. Antoon also has in-depth experience in the valuation of fractional interests, preferred stock, options and debt, having performed these valuations for tax, financial reporting, restructuring, mergers and acquisitions, gift and estate, across a variety of industries.

Prior to joining A&M, Mr. Antoon was a Managing Director in the Valuation Services practice of PricewaterhouseCoopers, and was the Global Practice Leader of the Valuation Services Practice at Kroll prior to working at PricewaterhouseCoopers.

Mr. Antoon earned a bachelor of science degree in finance from West Virginia University.

Veronica is senior vice president and senior counsel of NFP Corp., a leading insurance broker and consultant that provides employee benefits, property & casualty, retirement, and individual insurance and wealth management solutions. Recently NFP was ranked the second fastest-growing U.S. large-group employee benefits brokers by Employee Benefit Adviser. In addition, Business Insurance ranked NFP the 5th largest global benefits broker by revenue.

At NFP, Veronica represents the company in many corporate matters, including with respect to capital structure, debt management and equity transactions. She’s a member of the Compliance and Ethics Committee, which is responsible for designing and implementing corporate governance practices and procedures, as well as the Credit Committee, which monitors compliance with the operating covenants of the company’s debt documents.

Prior to joining NFP in 2007, Veronica was an associate in the Corporate Finance Group of Skadden, Arps, Slate, Meagher & Flom LLP’s New York office. Veronica holds a J.D. from New York University School of Law and received her bachelor’s from Wesleyan University.

Christine Croft has served as Senior Vice President and Chief Financial Officer of Advanced Health Media, a leading global provider of technology and service solutions designed to manage compliant transfer of value interactions with healthcare professionals for the highly regulated Life Science industry, since October 2013.  Prior to joining the Company, Ms. Croft served as Chief Financial Officer of the Americas region at Cegedim SA, a global technology  and services provider specializing in healthcare, from December 2010 to October 2013, and prior to that time, as Vice President, Americas Finance of Cegedim from May 2007 to December 2010.  Prior to that time, Ms. Croft held a variety of positions at Dendrite International (which was acquired by Cegedim in May 2007) such as Vice President of Finance and Investor Relations from July 2006 to May 2007 and Director of Corporate Finance from July 2002 to July 2006.  She spent the early part of her career in the telecommunications industry, holding financial management positions at Exp@nets and AT&T.  Ms. Croft holds a B.S. in Finance from Lehigh University.

Steven F. Crooke has served as Vice President, Secretary and General Counsel since May 2001. For the period of June 2000 through April 2001, Mr. Crooke served as Corporate Legal Affairs Manager of Huhtamaki Van Leer Oyj. Prior to that, he served as Assistant General Counsel of the Company from 1997 to May 2000. On February 1, 2006, Mr. Crooke was promoted to Senior Vice President (SVP), Secretary and General Counsel. In December 2014, Mr. Crooke was also appointed as Chief Administrative Officer.


  • Complex Commercial Litigation
  • Securities & Derivatives Enforcement and Regulatory
  • White Collar: Government Litigation & Investigations


  • Grand Jury Investigations
  • Anti-Money Laundering
  • Antitrust and Unfair Competition
  • Trials
  • Compliance Counseling - White Collar
  • Antitrust Government Investigations
  • Congressional Investigations
  • Internal Investigations
  • Healthcare Fraud
  • Government and Regulatory Investigations Concerning Accountants
  • Healthcare Enforcement
  • Government Contracting, Bid Protests and the False Claims Act
  • False Claims Act
  • Hedge Fund and Private Equity Litigation
  • FCPA/Anti-Corruption
  • Investment Advisers and Mutual Funds
  • Hedge Funds
  • Insider Trading
  • National Security
  • Law Firm Representation
  • Sports


  • U.S. Court of Appeals, 2nd Circuit
  • U.S. District Court, S.D. of New York
  • New York


  • Fordham University School of Law (J.D., 1995, cum laude; Order of the Coif; Notes & Articles Editor, Fordham Law Review)
  • College of the Holy Cross (B.A., 1989)


  • U.S. District Court, M.D. of Alabama, William H. Albritton III

TIM TREANOR, global co-leader of the firm’s White Collar Criminal Defense and Investigations practice group, is a former federal prosecutor who represents companies and individuals in investigations, enforcement actions and prosecutions conducted by various federal and state government agencies, including the U.S. Department of Justice (DOJ) and the Securities and Exchange Commission (SEC). He frequently manages parallel criminal and civil proceedings and global investigations involving enforcement agencies in multiple countries. Corporate clients he represents comprise of leading companies in a variety of industries, including financial services, pharmaceuticals, insurance, oil and energy and technology. Tim also advises companies on the development of internal compliance programs and provides compliance counseling on a host of criminal issues, including the Foreign Corrupt Practices Act (FCPA), anti-money laundering (AML), sanctions, fraud detection, anti-counterfeiting and internet gambling issues. Tim is listed in the 2015 and 2016 editions of Who’s Who Legal: Business Crime Defence and The Legal 500 US, and the 2016 edition of the Irish Legal 100, and has been ranked multiple times as a “Future Star” by Benchmark Litigation.


Recent Engagements

HSBC Monitor

  • Serves as lead counsel to the corporate compliance monitor of HSBC Holdings plc and its subsidiaries appointed for a five-year term by the DOJ, the UK Financial Conduct Authority and the Board of Governors of the Federal Reserve System in connection with HSBC’s US$1.9 billion resolution of money laundering and sanctions violations

FIFA Prosecutions

  • Serves as lead counsel to soccer confederation CONCACAF in connection with the DOJ’s investigations of corruption in world football and leads CONCACAF’s related internal investigation
  • Previously led the internal investigation of fraud allegations involving CONCACAF’s former President, Jack Warner and Secretary General, Chuck Blazer

FX Investigations

  • Serves as lead counsel to a global bank in connection with the foreign currency exchange trading investigations being conducted by numerous enforcement agencies around the world

PetroTiger Declination

  • Served as lead counsel to oilfield services company PetroTiger in connection with an investigation of FCPA violations in Colombia and obtained from the DOJ a groundbreaking declination of prosecution for the company notwithstanding convictions of the company’s former co-CEOs and General Counsel

Other Representations of Corporate Clients

Market Manipulation

  • Served as lead counsel to a LIBOR panel bank in connection with the DOJ’s investigation of the manipulation of LIBOR rates and represented the bank in connection with the investigations of numerous enforcement agencies around the world
  • Represented an inter-dealer brokerage firm in connection with investigations by the SDNY, the NYAG, and the SEC into potentially manipulative credit default swaps trading


  • Retained during the financial crisis to advise the Federal Reserve Bank of New York (FRBNY) on fraud risk issues and to conduct a fraud risk assessment in connection with the US$250 billion Term Asset-Backed Securities Lending Facility (TALF), one of the federal government’s most important and successful economic recovery programs
  • Served as lead counsel to an asset management firm in connection with investigations of potential fraud in the setting of foreign currency exchange rates
  • Served as lead counsel to a bank in connection with investigations of a rogue trader conducted by the FRBNY and the Manhattan District Attorney’s Office

Foreign Corrupt Practices Act (FCPA)

  • Secured a declination of prosecution from the DOJ for an international commodities-trading firm, and a favorable settlement in parallel federal civil litigation, in connection with bribery allegations involving payments to employees of a company owned in part by the government of Bahrain
  • Secured a declination of prosecution from the DOJ for a leading international oil and gas company in connection with a worldwide investigation into possible FCPA violations, notwithstanding the fact that the investigation concluded that bribes were paid
  • Represented a Fortune 100 company before the DOJ and the SEC in connection with the assessment and enhancement of the company’s corporate compliance program and managed a global FCPA compliance review of company operations in more than 65 countries, including in-country reviews of subsidiaries in China, Russia, India, Turkey, Brazil, Ukraine, Mexico, Romania, Venezuela and Italy
  • Represented a leading pharmaceutical company before the DOJ and the SEC in connection with the post-acquisition due diligence review of an acquired company’s operations in Indonesia, the Philippines, Colombia and Poland, and conducted FCPA and fraud investigations and compliance reviews in multiple countries, including China, Singapore and Australia

Insider Trading

  • Represented a number of hedge funds and hedge fund executives in connection with insider trading investigations conducted by the U.S. Attorney’s Office for the SDNY and the SEC, including investigations related to expert consultant networks

Representations of Individual Clients

  • Represented the former Controller of Bernard L. Madoff Investment Securities in connection with the investigation and prosecution of individuals associated with Madoff’s ponzi scheme
  • Represented a former senior manager of SAC Capital Advisors, LP in connection with insider trading investigations of various employees of SAC
  • Represented an employee of a major investment bank in connection with the investigation of bid-rigging in municipal tax lien auctions conducted by the DOJ’s Antitrust Division
  • Represented the “Bitcoin King” in connection with the prosecution in the SDNY of money laundering offenses involving the Silk Road website
  • Represented senior partners of prominent lawyer Marc Dreier in connection with the investigation of his well-publicized fraud scheme
  • Currently serving as a member of the CJA panel for the Southern District of New York representing indigent defendants as court-appointed counsel

Government Experience

Prior to joining the firm, Tim was an Assistant United States Attorney in the United States Attorney’s Office for the Southern District of New York for more than eight years, serving as Deputy Chief of the Organized Crime Unit and, at times, as Acting Chief of the Violent Crimes and Narcotics Units. As Deputy Chief, Tim supervised the work of approximately 15 senior federal prosecutors conducting grand jury investigations and prosecutions of both violent crimes and sophisticated white-collar crimes, including money laundering offenses involving major financial institutions, fraud offenses in the pharmaceutical and insurance industries, and offenses involving fraud in the market for subprime mortgages. For several years, Tim was a member of the Organized Crime and Terrorism Unit, and in that capacity participated in the DOJ’s response to the terrorist attacks of September 11, 2001.

During his tenure in the U.S. Attorney’s Office, Tim handled many significant cases, including the prosecution of the founders of NETeller PLC, a publicly-traded payment services company, for some of the most substantial money laundering offenses in history, and negotiated deferred-prosecution and non-prosecution agreements with corporate defendants. Tim also appointed and managed one of the earliest corporate compliance monitors and served on a committee that participated in the drafting of then-Deputy Attorney General Morford’s policy on the selection and use of monitors. Tim also led prosecutions of numerous leaders and members of traditional organized crime families and of various corrupt labor unions.

Tim worked closely with other prosecutor’s offices in New York. He was appointed Special Assistant Deputy Attorney General for the State of New York. He also served as a clinical prosecutor in the U.S. Attorney’s Office for the Eastern District of New York. Before joining the U.S. Attorney’s Office in Manhattan, Tim served as law clerk to the Honorable W. Harold Albritton, III, United States District Judge for the Middle District of Alabama. 

Trial Experience

During his tenure in the U.S. Attorney’s Office, Tim established himself as one of the government’s most experienced and successful trial lawyers. He tried a dozen criminal cases, convicting all 24 defendants, and led the government teams in three major multi-month, multi-defendant trials. In addition, Tim briefed and argued numerous cases before the Court of Appeals for the Second Circuit. 

Earlier in his career, Tim spent several years in private practice as an antitrust litigator defending corporate clients against enforcement actions by the DOJ and the Federal Trade Commission. He was also a founding partner of Law Preview LLC, an educational services company.

Tim is admitted to practice in New York and Massachusetts.


  • Panelist, “Anti-Money Laundering: Recent Regulatory Developments and Evolving Compliance Challenges,” Sidley Austin LLP New York City Compliance Roundtable Anti-Money Laundering and Cybersecurity/Data Privacy (New York, February 2016).
  • Panelist, Sidley Austin LLP DOJ’s New Policy on Prosecution of Individuals: What Has Changed? What Issues Does It Raise? (New York, October 2015).

  • Joon is a Senior Vice President in Ernst & Young Capital Advisors’ Debt Capital Markets practice (“DCM”) and focuses on providing capital advisory, capital raising and capital restructuring services
  • Joon has fifteen years of experience in capital raising, investment management and investment banking, including leveraged finance, corporate finance, corporate banking and asset management.He spent eight years at Bank of America Merrill Lynch and two years at GSC Group
  • Prior to joining DCM, Joon served as a Vice President in Bank of America Merrill Lynch’s Global Corporate Banking responsible for managing a portfolio of large corporate clients (primarily private equity-owned companies)
  • Prior to Bank of America Merrill Lynch’s Global Corporate Banking, Joon was a member of the Leveraged Finance teams in London and in Charlotte as well as General Industrials Investment Banking team at Banc of America Securities responsible for sourcing, structuring and executing acquisition financings for large corporate and financial sponsor clients
  • Joon also spent two years at GSC Group, an investment management firm focused on debt investments ranging from broadly syndicated loans to junior subordinated notes
  • Joon received his Bachelor of Science from the University of Virginia (McIntire School of Commerce)
  • Joon holds FINRA Series 79 and 63 license

Briana is a Principal in EY’s Restructuring practice. She has been a restructuring practitioner for more than fifteen years, advising debtors and their lenders on bankruptcy and restructuring matters in both Canada and the US. Briana began her restructuring career in EY’s Canadian practice and as a result is well versed in bankruptcy regimes on both sides of the border.  She has represented stakeholders throughout the capital structure including debtors, lenders, PE Sponsors and customers. Briana possesses extensive experience advising distressed clients on a variety of matters including liquidity management and forecasting, business plan development, strategic alternative analysis, lender and stakeholder negotiations, contingency planning and the administrative aspects of bankruptcy proceedings. Briana was recently recognized as one of 2015’s 40 Under 40 in Finance by M&A Advisor.