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• Originally aired May 27, 2009
• When lenders should think about calling a turnaround professional
• Engagement by the borrower vs. the lender:  pro's and con's
• "Suggesting" vs. Requiring, and forbearance language
• Avoiding lender liability from the beginning
• The turnaround professional's response to the lender's introduction
• The "beauty contest"
• Keeping the lender posted on process of getting engaged
• Role of the turnaround professional:  advisor vs. manager
• Engagement Agreements
• Scope of Work & Deliverables
• Access to and input from lenders and other stakeholders
• Standard of Performance
• Fee Budgets, Expenses & Timetables
• Limitation of liability and indemnification
• Modifications
• Bankruptcy
• Fraud
• Ethical considerations

Presenter: Howard Brownstein, CTP, Principal, NachmanHaysBrownstein, Inc.
Jeffrey Wurst, Partner, Ruskin Moscou Faltischek