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ALEXANDRIA, Va., Nov. 9 -- The American Bankruptcy Institute issued the following news release:

A team from The Wharton School of the University of Pennsylvania won the Bettina M. Whyte Trophy at the Eighth Annual ABI Corporate Restructuring Competition, held Nov. 3-4 at the University of Pennsylvania Wharton School of Business in Philadelphia. The second-year MBA student winners also shared a $6,000 cash prize. Students from the University of Chicago Booth School of Business won the second-place award of $3,500, while another team from The Wharton School of the University of Pennsylvania received the $2,500 prize for third place.

The competition, which is co-sponsored by ABI and the University of Pennsylvania Wharton School of Business, provided 11 of the nation's top MBA programs with a unique opportunity to learn by solving a real-world restructuring case problem. The students had a week to "solve" the problem and prepare comprehensive presentations showing their operational and financial plans before panels of judges representing a mock board of directors and bondholders, with a final round before mock first and second lienholders.

Past winners of the Corporate Restructuring Competition include Columbia Business School, University of Pennsylvania Wharton School of Business, Northwestern University Kellogg Graduate School of Management (January 2007 and November 2008), New York University Leonard N. Stern School of Business and the Stanford Graduate Business School. Other schools in this year's competition in addition to the finalists and past years' winners included the Dartmouth College Tuck School of Business, Duke University Fuqua School of Business, Illinois College of Business, University of California-Berkeley Haas School of Management, University of Chicago Booth School of Business and the Yale School of Management.

In addition to the case presentations, the competition featured a sponsored networking dinner keynoted by Prof. Stephen Lubben, the Daniel J. Moore Professor of Law at Seton Hall Law School. An awards luncheon also followed the final round of the competition.

ABI thanks the major sponsors of this year's competition, including AlixPartners LLP, CRG Partners Group LLC and FTI Consulting. The sponsors of the reception for the competition were Ciardi & Ciardi & Astin, PC and Saul Ewing LLP.

To find out more about the Corporate Restructuring Competition, please visit http://www.abiworld.org/CRC11.