On April 2, 2009, global law firm Kaye Scholer LLP hosted a seminar at its Manhattan office titled “Using Private Equity and Hedge Fund Structures and Strategies to Invest in Distressed Assets.”  The seminar consisted of the following sections: (1) An overview of the core structures and concepts of hedge funds and private equity funds, presented by Timothy A. Spangler, a London-based Kaye Scholer Partner who chairs the firm’s Investment Funds Group; (2) A discussion of laws and accounting principles bearing on the sales and purchases of distressed financial assets, led by Henry Morriello, a New York-based Kaye Scholer Partner, Co-Chair of the firm’s Structured Finance Group and Head of the its Transportation Asset Finance Group, which included an overview of the new Public-Private Investment Program; and (3) A review of bankruptcy laws relevant to hedge fund investments, and of when potential purchasers of distressed assets are better off working through the bankruptcy process rather than around it, delivered by G. Thomas Stromberg, a Kaye Scholer Partner in the firm’s Los Angeles office.  We detail the salient points raised and discussed at the seminar.