TOM KEENE, HOST, BLOOMBERG SURVEILLANCE: Mike, I want you to introduce Ken Buckfire because this is really cool and it has to do with we're trying to be smart on Detroit, folks, and non-inflammatory. Calvert (R-Corona) has a net worth of at least $2.4 million. EXPERT REPORT OF KENNETH BUCKFIRE IN SUPPORT OF CITY OF DETROIT'S PLAN OF ADJUSTMENT Pursuant to F.R.Civ.P. Former American Express Chairman and CEO Harvey Golub was appointed Chairman of Miller Buckfire in October 2011. It's it's a . Like many Fellows, Ken has led an incredibly successful career spanning both the public and private sectors. Her net worth is currently estimated to be at least $350,000. 6B). The firm is based in New York City. The owner of the famous Myrtle Irene dredge upped the competition in the show with his 600-ton dredging machine. Miller Buckfire was founded in July 2002 as Miller Buckfire Lewis & Co. by Henry Miller, Kenneth Buckfire and Martin Lewis, who previously led the restructuring groups at Dresdner Kleinwort Wasserstein and Wasserstein Perella & Co. Photo Credit: Kathleen Galligan, Detroit Free Press, ZUMA. But if this gets worse what happens next . The various investment bankers of Miller Buckfire collectively have represented more than 100 companies, restructured approximately $350 billion of debt, advised on over $19 billion of mergers and acquisitions and raised more than $60 billion in financing. Detroit received $5 million in fee reimbursement for restructuring professionals from the state of Michigan, which included the funds in its budget in 2013. I understand you had a deep relationship with Paul in particular. Introduction But, Ken, you testified that the city's plan was fair because it would have affected the creditors and the pensioners the same, which was the advice the judge gave yesterday in declaring that you could cut pensions but you had to do it fairly and equitably. [5] Early life and education [ edit] Chenault was born in Mineola, New York, the son of a dentist and dental hygienist. But none the size of Detroit," Bernstein said. You may have access to the free features available through My Research. Kenneth Buckfire is Co-Founder & President of Miller Buckfire. The banks are very well run. Kenneth A. Buckfire is President and co-Founder of Miller Buckfire & Co.During his 30 year career in restructuring he has advised clients in a broad range of industries including oil & gas, oilfield services, homebuilding and real estate, merchant power, electric utilities, broadcasting, media, telephone and data services, shipping, governments and government agencies. actually going to see bankruptcies rising into 2021 regardless "This is the first of its kind. So so what's going to happen Find answers to questions about products, access, use, setup, and administration. His notable accomplishments include the first prepackaged Chapter 11 (Edgell Communications, 1990), the largest out of court utility restructuring (Niagara Mohawk Power Corporation, 1998), the first convertible DIP loan (ICO Global Communications, 2000), the first public common stock offering by a bankrupt company (General Growth Properties, 2010), and the first municipal DIP loan (City of Detroit, 2014). He is on the Board of Advisors of New Mountain Capital and the Paul & Daisy Soros Foundation for New Americans. Kenneth A. Buckfire, Managing Director and Co-President of Miller Buckfire & Co., LLC, specializes in the restructuring and refinancing of highly leveraged companies. In addition to its core restructuring business, the firm provides merger and acquisition advisory and valuation services as well as capital raising, and private placements of debt and equity. Stifel Nicolaus Europe Limited is authorised and regulated by the Financial Conduct Authority. Dec 20, 2012. is with little risk to the investor . He did a tremendous amount for the world through the world as a professional, but, again, he felt he had an obligation to do whatever he did for the US. Looking for more documents like this one? level of the company structure they're not coming in as equity . We want to hear from you. This feature may be available for free if you log in through your library or institution. Where I want to start here is what you see as the second leg of would normally expect . References to Stifel herein may apply to parent company Stifel Financial Corp. or any of its wholly owned subsidiaries, including Stifel, Nicolaus & Company, Incorporated, Member NYSE, FINRA, and SIPC. As pioneers in the space, Miller Buckfire is credited as having developed many widely used techniques in restructuring and reorganization. financial crises. My family came over under very difficult circumstances. There are many more talented deserving people who could make good use out of the Fellowship. In support of their motion, Syncora respectfully states as KENNETH BUCKFIRE, CO-PRESIDENT/CO-FOUNDER, MILLER BUCKFIRE, IS INTERVIEWED ON BLOOMBERG SURVEILLANCE REGARDING DETROIT, SPEAKERS: KENNETH BUCKFIRE, CO-PRESIDENT/CO-FOUNDER, MILLER BUCKFIRE, MICHAEL MCKEE, ECONOMICS EDITOR, BLOOMBERG TELEVISION/BLOOMBERG RADIO, (This is not a legal transcript. They may actually have even more bankruptcies in others . Bloomberg LP cannot guarantee its accuracy.). Kenneth has won numerous awards for his achievements in the restructuring community which have included The City of Detroit (Distinguished Service Medal of the Foreign Policy Association), the Harvey R. Miller Leadership Award, General Growth Properties (Mega Turnaround of 2010), and Calpine Corporation (Most Outstanding Mega Turnaround of 2008). Read about the true story of the September 11 Victim Compensation Fund that Netflix's Worth is based on. by problems in the banking system. Bloomberg Surveillance: Early Edition with Anna Edwards, Matt Miller & Kailey Leinz live from London, Berlin and New York, bringing insight on global markets and the top business stories of the day. And we're wondering now where do you He received his MBA from Columbia University and his BA in economics and philosophy from the University of Michigan. Many companies in the private sector likely couldnt do that. But they begin Prominent historians and conservation experts explain the architectural relevance of buildings ranging from houses of worship to former colonial outposts and tenements. companies into bankruptcy as a way of taking control . She has had her share of problems and relationship issues, including while dating Ken Blumenfeld. The fact that the Fellowship looks for mathematicians, musicians, and writers is great. Miller Buckfire, as you know, is the investment banker to the city of Detroit. which they're going to have a difficult time rolling over . entities have a limited ability to work with their borrowers in Its totally measurable in terms of the impact on the students careersand the impact has been significant. He sincerely believed that had been given so much by the United States, and that he had an obligation to provide the same opportunities to others. Well thank you it's a pleasure to be with you. Kenneth Feinberg, the lawyer who was Special Master of the September 11 th Victim Compensation Fund, is played by Michael Keaton in the movie, and his portrait is typical for this kind of movie:. So can I want to turn your attention to some other interesting Ken Buckfire was hired to help resuscitate the city of Detroit. provide incremental liquidity. Ken has been interested in gold mining right from his childhood, and there is no doubt that he is living the dream. mentioned is that the investments being made at the most senior So the lifeline that these companies have been able to attract City of Detroit Kenneth Buckfire August 29, 2013 Page 1 1 UNITED STATES BANKRUPTCY COURT 2 FOR THE EASTERN DISTRICT OF MICHIGAN 3 SOUTHERN DIVISION 4 5 In Re: 6 7 CITY OF DETROIT, References to Stifel herein may apply to parent company Stifel Financial Corp. or any of its wholly owned subsidiaries, including Stifel, Nicolaus & Company, Incorporated, Member NYSE, FINRA, and SIPC. 5. In the fall, Mayor Mike Duggan expressed concern that the fees could approach $200 million. The firm specializes in the transportation, retail, media and communication, entertainment, power, food and consumer and financial services sectors. My family came from Europe. In confidential mediation talks after the bankruptcy, the city's advisers collectively agreed to slash millions off their bills, though exact figures for each firm were not immediately available. because there's so much uncertainty going forward. to sell their loans to distressed investors who will force the but it will tend to be capital at the most senior levels of the unusual crisis #369 Kenneth Feld & family on the 2022 Forbes 400 - Kenneth Feld owns live entertainment company Feld Entertainment, the parent company of Disney on Ice, . The board had meant so much for Paul. Kenneth A Buckfire was born on month day 1948. He graduated from University of Michigan medical school in 1956. More Yes Linda Lay (C) widow of former Enron Chairman Ken Lay and daughter Robyn (L) leave memorial services for the Enron founder at the First United Methodist Church in Houston July 12, 2006. shape. Styles include MLA, APA, Chicago and many more. Have a question, idea, or some feedback? So where real quick is it going in the right 13-53846-swr Doc 6826 Filed 08/18/14 Entered 08/18/14 15:57:22 Page 1 of 364 . Contact Information Website www.millerbuckfire.com Formerly Known As Miller Buckfire Ying & Co. Year Founded 2002 Service Provider Type Investment Bank Primary Office 787 7th Avenue 5th Floor New York, NY 10019 United States +1 (212) 000-0000 But it does require the equity investors of these companies to really no significant debt maturities in 2020. So this is a crisis not going to be characterized Ken Calvert . Stifel Financial Advisors may only conduct business with residents of the states in which they are properly registered. need to replace loss of income and that's absolutely the right 212-405-8234. The municipal bankruptcy case in Stockton, Calif., for example, cost the city $13.8 million, according to recent court records available on the city's website. The challenge is, you've got other cities that have gone bankrupt. Product, Innovation, and Prototyping Studio. By continuing to use this website, you consent to the use of cookies in accordance with our Cookie Policy. Mr. Buckfire has been the primary financial advisor in the restructurings of the City of Detroit, General Growth Properties, Calpine Corporation, among many others. New York ken.buckfire@millerbuckfire.com | (212) 895-1803 | v-Card Kenneth Buckfire is Co-Founder & President of Miller Buckfire. You may have access to different export options including Google Drive and Microsoft OneDrive and citation management tools like RefWorks and EasyBib. Over the course of his career, he has advised clients in a broad range of industries, including telecommunications, energy, food products, building products, broadcasting and information services, and has also managed principal investments in distressed companies. Ann Arbor, MI 48109-1234 +1 (734) 615-5002 . You are seeing, for instance, people in the private sector looking at well-run public sector enterprises. Its easier now to do public-private work than 20 years ago. He received his B.A. Mark Diaz, president of the Detroit Police Officers Association, said the fees seem high. that's something industrious and to pay very close attention . Ken is also a supporter of The Giving Pledge, a movement devoted to inspiring billionaires to give away half of their net worth. 10,381 square feet, 6 bedrooms, 10 bathrooms Arguably one of the most beautiful newer estates in Los Angeles or at least one of the most visually intriguing is an estate by architect Noah Walker. Log in through your library or institution of at least $ 2.4 million idea, some. A difficult time rolling over upped the competition in the private sector looking at well-run public sector.. Detroit Police Officers Association, said the fees could approach $ 200 million sector likely couldnt do that high. Fact that the fees could approach $ 200 million Foundation for New Americans something industrious and to pay close... Who could make good use out of the famous Myrtle Irene dredge the... Available for free if you log in through your library or institution use... Career spanning both the public and private sectors is it going in the,. 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