On-Demand Learning

Bankruptcy & Restructuring

Recorded on: Jan. 31, 2011

JOSEPH SAMET: --about that in the last hour. So let's talk just briefly about the state of the restructuring markets, capital markets, wall of debt, default rates. It turns out that there was a lot of talk that there would be major insolvencies in this last year. That hasn't happened. In 2008, there were, and they were the biggest cases. But life has changed. Bill, maybe you have some thoughts about what has transpired in the last couple of years, ...

From the program: Recent Developments in Distressed Debt, Restructurings and Workouts 2013

Released on: Feb. 8, 2013

The unprecedented scope and continuation of the credit crisis, recession, and a weak recovery requires business people and professionals to react quickly and deal with distressed companies and defaults.  This includes problems in the automotive, financial services, airlines, retail, sports and entertainment and real estate industries.  The program will cover current issues relating to structuring, drafting and enforcing the rights of creditors ...

Recorded on: Apr. 20, 2011

JOSEPH SAMET: All right. We're back on the subjects of mediation, and a subject near and dear to some of your hearts, attorneys fees. How to collect them, how to keep them. On the subject of mediation, Ken Rosen has been very active in this area, both in the Third Circuit in Delaware and elsewhere. Ken is a partner and leads the firm's bankruptcy practice at Lowenstein Sandler. Ken has gotten many honors in terms of this practice, business development, ...

Recorded on: Apr. 14, 2010

SCOTT LESNE: OK, well, welcome back. We're now going to move on to discussion of enforcement issues. Yesterday we talked a fair amount about how to obtain a perfected security interest in various types of collateral, and now we're going to talk a little bit about why that's really, really important. A lot of the issues that we talked about yesterday are all precursors or prerequisites to having a successful enforcement. The way I look at enforcement ...

Recorded on: Apr. 27, 2011

EDWIN E. SMITH: I am now going to pretend that I'm Christine Hamm. And I really encourage Joanne and June to jump in and help me on this ethics portion that we're going to go through. Because commercial lending does, in fact, have its own set of ethical issues that really are no different from the ethics issues that lawyers encounter, generally, in practice. But sometimes in the context of asset-based lending, they have some special bite and some ...

Recorded on: Apr. 20, 2011

JOE SAMET: Good morning and welcome back. We are now in volume two of the book and starting off with the subjects that'll be covered by Brian Herman, Erica Weinberger and Jerry Munitz on executory contracts, current developments, updates and the like. Let me introduce you to our new speakers. Brian Hermann is a partner in the bankruptcy and corporate reorganization department of Paul, Weiss, Rifkind, Wharton. And Brian has extensive experience in ...

Recorded on: Apr. 20, 2011

JOSEPH SAMET: Welcome back. We're going to start this segment on First Day Orders, DIP Operations, and DIP Financing with the combination of Michael Cook and Lynn Harrison, who are here. We're delighted to have them. The materials are in your book, and they are quite good and extensive. Mike Cook, who has been a part of this program for many years, as has Lynn. Mike is a partner in the New York office of Schulte Roth & Zabel. He is one of the ...

Recorded on: Jan. 31, 2011

Clock in, we're back. We're at the home stretch of the program where we'll be doing setoffs and a few industry issues with Rick Antonoff from Clifford Chance. And then after Rick goes, then we're going to have a combination of web as well as live. We're delighted to have Deirdre Martini on the telephone. Deirdre is a refugee up in Connecticut. She has been stranded and stuck. And we are very fortunate to have her today. Deirdre is Managing Director ...

From the program: IP Issues in Business Transactions 2013

Recorded on: Mar. 4, 2013

Taken from the Web Program IP Issues in Business Transactions 2013 recorded February, 2013 in San Francisco. Lecture Topics  [01:00:40] Licensing and Bankruptcy Issues in IP Transactions  [01:00:40] How might a licensee preserve its rights following a licensor’s bankruptcy filing? Implementing structural solution (such as assignment and license back) or source code escrows in the context of a potential licensor bankruptcy ...

Recorded on: Mar. 4, 2013

KAREN N. BALLACK: OK, welcome back, everybody, from the break. Our next presentation this morning before our lunch break is on the treatment of IP licenses in bankruptcy. And we have with us today two speakers from O'Melveny & Myers. We're very pleased that they were able to join us this morning. To my right is Stanton Lovenworth. Stanton is counsel in O'Melveny's New York office, and a member of the Health Care and Life Sciences Practice. Stan ...

From the program: Negotiating Real Estate Deals 2013

Released on: Jun. 18, 2013

Many things have changed in the world of real estate: the structuring of transactions, availability of financing availability of equity capital, bankruptcy remote structures, the role of the bankruptcy process, joint venture considerations, work out pitfalls, carve-out guaranties and unanticipated judicial interpretations, global market gyrations, interest rate setting irregularities, evolving neighborhoods, mega public/private projects, special servicer ...

Recorded on: Nov. 21, 2011

ANDREW DENATALE: OK, we'll get started. Confirmations. Confirmation assumes that the planned proponent has first determined the preferred course to maximize the value of the estate, allocated the value among the constituents, obtained court approval of the disclosure statement, and solicited acceptances to the plan. The final step is to hold a hearing on confirmation of the plan as required by Section 1128(a). The purpose of the confirmation hearing ...

Recorded on: Nov. 6, 2012

HOWARD WEG: Welcome back everyone. This afternoon we're going to delve into more details involving the plan confirmation process. We have Steve Felderstein and Andy DeNatale taking the laboring [INAUDIBLE]. Other people will chime in as we go along, I'm sure. ANDREW DENATALE: OK, so welcome to plan confirmation. Here we are at the confirmation stage. This means that the planned proponent has determined the preferred course to maximize the value of ...

From the program: Pocket MBA Fall 2012

Recorded on: Oct. 16, 2012

Taken from the Web Program Pocket MBA Fall 2012 recorded October, 2012 in New York. Lecture Topics  [01:15:34] Solvency, Restructuring and Bankruptcy  [01:15:34] Market overview “Going concern” analysis indicators, including: - Earnings - Liquidity - Financing • Restructuring options and process: - Operational restructuring - Financial restructuring - Exit the business  ...

From the program: Pocket MBA Summer 2013: Finance for Lawyers

Recorded on: Jun. 5, 2013

Taken from the Web Program Pocket MBA Summer 2013: Finance for Lawyers recorded June, 2013 in San Francisco.Lecture Topics  [01:00:30]Solvency, Restructuring and Bankruptcy  [01:00:30] State of the capital markets and outlook Analysis of indicators and causes of financial distress- Solvency- Liquidity- Financing An overview of the restructuring process and alternatives- Out-of-court - Chapter 11 reorganization- Impact on constituents ...

Recorded on: Nov. 21, 2011

SPEAKER 1: Welcome back, everybody. I'm pleased to present our next panel. On my far right, we have Lewis Kruger, who I introduced earlier from Strook & Strook & Lavan in New York. Next to him is David Shemano, my partner from Los Angeles at Peitzman, Weg & Kempinsky. And next to David, we have Debra Grassgreen, a partner at Pachulski, Stang Ziehl & Jones, which has offices in New York, in Delaware, Los Angeles, and San Francisco, ...

Recorded on: Nov. 6, 2012

LEWIS KRUGER: Ready to go. Lewis Kruger. Hello and good morning. Those of you in California based, obviously, a lovely and beautiful day and a nice day to be indoors at PLI. I'm going to talk for the next 15 to 20 minutes about the beginning of the process of dealing with a company and contemplating what its future should be and how you ought to think about dealing with it, whether it's an insolvency proceeding in the bankruptcy court or other alternatives. ...

Recorded on: Jan. 31, 2011

JOSEPH SAMET: OK, we're going to move on a little bit now to talk a bit about some of the distressed debt players and the turnaround and distressed debt opportunities for Bill and Jim to touch on. Who are some of those folks out there? Who are those hedge fund players and other players that have dominated the arena in recent years? WILLIAM Q. DERROUGH: Well, I think there's a couple dynamics that have gone on. So we talked earlier about how the Federal ...

Recorded on: Jan. 31, 2011

SPEAKER 1: PLI contributor, speaker, author, professor at NYU, and has brought a lot to the table in this restructuring practice for many years. Also, I'll introduce Rick Antonoff from Clifford Chance. Rich has been a partner at Clifford Chance, and is a mainstream creditors rights, bankruptcy practitioner. Rich has been involved heavily in the financial crises situation of hedge funds, of representing institutions, parties that hold derivative contracts, ...

Recorded on: Apr. 27, 2011

EDWIN E. SMITH: OK, why don't we get started this afternoon? And we're now going to be talking about some areas we just touched on very briefly. My partner, Joanne De Silva, who does a lot of commercial lending work and asset based lending work is here. Joanne is going to tell us about some issues that arise relating to non UCC liens. Some issues that arise on intercreditor agreements between first and second lien holders. And then I'm going to walk ...

From the program: Real Estate Tax Forum 2013 (15th Annual)

Recorded on: Feb. 15, 2013

Taken from the Web Program Real Estate Tax Forum 2013 (15th Annual) recorded February, 2013 in New York. Lecture Topics  [01:15:01] Workouts and Debt Restructuring  [01:15:01] Forgiveness of indebtedness Acquiring debt at a discount Working with lenders - forbearance and other debt modifications Dealing with underwater properties The purchase price of this segment includes the following article from the ...

Recorded on: Jan. 13, 2012

MANNY: Good afternoon, everyone. My name is Manny Grillo, I'm a partner at Goodwin Procter. I'm the chair of the firm's bankruptcy practice. One, I'd like to thank those of you who are here in the room today for bearing the inclement weather, and also sort of hanging out till the end and enduring us. Hopefully we will make it worth your while for this last hour or so. I'd like to take a moment and introduce the members of the panel. All the way down ...

Recorded on: Nov. 21, 2011

SPEAKER 1: [UNINTELLIGIBLE]. All right, ladies and gentlemen, now as I said a moment ago, we're going to move into the heart of Chapter 11 and what reorganization is all about. The speakers on my far left, Ali Mojdehi, who you saw yesterday present executory contracts with me. Gerry Munitz will continue to provide color commentary throughout. And Andrew DeNatale is a partner in the Offices of Stroock & Stroock & Lavan in Los Angeles and co-chair ...

Recorded on: Nov. 6, 2012

HOWARD WEG: So the next three panels are going to take us further into the area of chapter 11. This is a corporate nuts and bolts bankruptcy program. And the ultimate outcome of a corporate reorganization case involves looking closely at who are the players in chapter 11, what does a chapter 11 plan involve, and how does it get confirmed. And that's what we're going to be covering now. Our first speakers are my co-chair, Andrew DeNatale, and Ali ...

Recorded on: May. 10, 2011

DAVID BRITTENHAM: Alright. Our next panel is restructuring update. We're running a few minutes late so we're going to make our introductions summary. Jasmine Ball to my right is a member of the restructuring group at my firm of Debevoise. And to her right, Eric Rosof from Wachtell Lipton. Both of whom have been here before and we're happy to have them back to give us an update. You're on. JASMINE BALL: Great. We had in our program that we would touch ...