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Walper to Join Plainfield Asset Management.

GREENWICH, Conn. -- Plainfield Asset Management LLC announced today that Thomas B. Walper, a partner of the law firm Munger, Tolles & Olson LLP and the sixteen year head of its bankruptcy and restructuring group, will be joining Plainfield effective August 1, 2007. Mr. Walper will be a Managing Director and Head of Corporate Restructuring for Plainfield.

Mr. Walper has played a significant role in many of the country's largest recent chapter 11 cases and restructurings, including Refco, Calpine, Pacific Gas & Electric, Southern California Edison, Kmart, United Airlines, Southern Pacific Funding, California Power Exchange and Coho Energy. He has also been lead bankruptcy counsel for Berkshire Hathaway Inc., over the past several years representing them in connection with the Enron, FINOVA Group, Fruit of the Loom, Oakwood Homes, and USG Corporation bankruptcy cases.

Mr. Walper has twice (1999 and 2002) been recognized by Turnaround and Workouts magazine as one of the country's top 12 bankruptcy lawyers. He received a B.S. in 1976 and an M.B.A. in 1977 from the University of Southern California and a J.D. in 1980 from Loyola Law School in Los Angeles. He was a partner in the bankruptcy practice of Stroock & Stroock & Lavan prior to joining Munger Tolles & Olson in 1991.

Max Holmes, Plainfield's Founder and Chief Investment Officer, commented, "We view bankruptcies and restructurings as one of our core competencies. We are privileged to have someone with Tom's reputation and depth of experience as our Head of Corporate Restructuring, and as the cycle changes, we expect to be active."

"After many years in the practice of law, I could not resist the challenge of bringing my experience to bear at an investment firm of this caliber," said Mr. Walper.

Based in Greenwich, Connecticut, Plainfield Asset Management is an investment advisor registered with the Securities and Exchange Commission. Plainfield manages in excess of $3 billion of investment capital for institutions and high net worth individuals based in the United States and abroad. The firm was founded in February 2005.
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Publication:Business Wire
Date:Jul 17, 2007
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