The New York Private Equity Network (NYPEN) and Ernst & Young LLP invite you to attend the 2008 NYPEN Accounting & Tax Education session on the "Tax Considerations of Distressed Companies" to be held on Tuesday, November 18, 2008.

The session will discuss issues on refinancing of debt and tax attributes related to being in and getting out of bankruptcy.  The discussion will be led by Ernst & Young's Barry Grandon and David Gette, Transaction Tax Partners.
 
What You Can Expect to Learn:
 
• Overview of Tax Considerations for Distressed Companies
• Tax Implications for the Cancellation of Debt (COD)
• Potential Tax Consequences for the Buy-Back of Related Party Debt, Capitalization of Debt, and Modification of Debt Terms
• COD Income & Impact on Tax Attributes
• Section 382 Limitations & Availability of Net Operating Losses
• Other Tax Consequences Such at Limitations on Deductibility of Interest