ACB Annual All Fellows Luncheon

Wednesday, October 7, 2026 – 12pm – 2pm
Pacific Ballroom 19

By Invitation Only (registration is open to Fellows of the College and must be done separately online here).

Moderator:

Donald Bernstein (Davis Polk & Wardwell LLP)

Speakers:

Steve Zelin (PJT Partners)
Joshua Feltman (Kirkland & Ellis LLP)
Lisa Laukitis (Milbank LLP)
Bruce Bennett (Jones Day)

Description:

The luncheon will include a presentation of the 2026 DEI Excellence Award, updates on College and Foundation activities, and an educational program on Disruptive Forces in Waiting: The Next Wave of Corporate Bankruptcies, moderated by Donald Bernstein (Davis Polk & Wardwell LLP), with speakers Steve Zelin (PJT Partners), Joshua Feltman (Kirkland & Ellis LLP), Lisa Laukitis (Milbank LLP), and Bruce Bennett (Jones Day).  Disruptive forces are affecting how financial distress is addressed by large U.S. businesses.  Many firms have been the subject of complex liability management transactions; others are financed by private credit and direct lenders. In either case, when these firms restructure, their lenders have an outsized influence, typically seeking to pre-bake exit options that avoid the cost and uncertainty of bankruptcy. Nonetheless, as these firms face operational disruptions or financial pressures, whether from AI, or from stubbornly high interest rates or rising prices, their businesses will be under increasing strain.  As a result, they may have no alternative other than commencing bankruptcy proceedings. In light of recent experience, the panel will look at how these bankruptcies are likely to unfold, including what disputes are likely to arise and how they will get resolved — whether through negotiations or in court.

In addition to the luncheon, the College and Foundation Boards and several committees will meet in person on Tuesday, October 6 and Wednesday, October 7.