Games Workshop says:
Last year we hosted the first ever Slayer Sword Challenge, a contest between the US Slayer Sword Winners to convert and paint an exquisite model based off of one of our plastic kits. The rules were simple; each partcipant was allowed the same amount of time and supplied an identical sprue with which to create their masterpiece. Aside from the components on the sprue and other raw materials like green stuff and plasticard, no additional GW components, nor any parts from other miniatures manufacturers or toys could be used. For an additional challenge, each participant was assigned a descriptive paragraph detailing a particular character which their creation had to adhere to as closely as possible.
Last year the theme was the Fantasy Orc Warboss, and this year the plastic Chaos Lord was the basis for the competition. The entries are from US Slayer Sword Winners, Chris Borer (Chicago), Natalya Melnik (Baltimore), and Todd Swanson (Atlanta). Doug Jones ((LA), was unable to compete due to that pesky thing called 'real life'. We invite you to peruse the three following entries and decide for yourself which one is the best. Following the gallery for each miniature there is a write-up detailing how the painter went about their task. For the sake of anonymity and fair play, we have removed the names of the painters, so this contest is based solely on what it should be, the models themselves! When you have decided on your favorite, please send an email to the following address with the name of your favorite Chaos Lord (Gaelus, Festus or Balthazar) in the subject line.of the email.
slayerswordchallenge@games-workshop.com
Voting will last for one month. Duplicate votes will be deleted. After a month has passed, we will total the results, reveal who painted what, and crown a winner!
Click through for lots of high-res photos.
I used the figurine you can (barely) see at the bottom right of this photo: 
