On-Demand Learning

Bankruptcy & Restructuring

Transcripts

Recorded on: Jan. 20, 2011

SPEAKER 1: OK, welcome back from your break. On our next topic, we're going to cover Purchase Money Security Interest and Consignments. And for this presentation, I'm proud to introduce Ken Karl from Sheppard Mullin in Los Angeles and I thank him for flying out here. And as you may remember this morning, I introduced one of the speakers and told you that he'd given me my first job out of law school. Well, Ken has done something slightly even more ...

Recorded on: Jan. 14, 2013

KENNETH CHIN: And for our next speaker we have Ken Carl, who's a partner at Sheppard Mullin from Los Angeles. I'm so happy he's traveled all the way across the country in order to give this presentation. Ken's practice focuses on lender and borrower representation and financing transactions, loan workouts, and bankruptcies. And Ken is a classmate of mine from law school. And I'm so happy that he's here. So Ken will talk to us about default and remedies. ...

Recorded on: Apr. 20, 2011

JOSEPH SAMET: Welcome back. In Volume Two of our book, there are two articles on the duties of officers and directors, one starting at page 485 and Jane's article starting at page 501. Everything you want to know about officers and directors, duties, liabilities, and theories is in there. But we'll amplify and give you more of a sense of that and what the trends are. After spending some time on officer, director, liability, fiduciary duties, we'll ...

Recorded on: Nov. 6, 2012

HOWARD J. WEG: All right. Welcome back, everybody. We're into the home stretch. I saved the best for last, I'd like to think. This particular panel is going to cover the topic of executory contracts and unexpired leases. My co-panelist, Ali Mojdehi, from Cooley Godward in San Diego's office has come up here to participate. And we've sort of divided the various topics that we're going to cover into smaller little bites, so I'll speak, then Ali will ...

Recorded on: Nov. 6, 2012

HOWARD WEG: We're getting ready to start. Good morning. And welcome back, everyone. Very often, your first encounter with insolvency or bankruptcy proceedings is when a client calls up you up and said, I got a letter from some bankruptcy lawyer saying if we don't pay back some amount we've been paid for goods we sold six months ago-- three months ago-- some period in the past-- they're going to sue us. And that's what we call avoiding powers. There's ...

Recorded on: Nov. 21, 2011

HOWARD WEG: Welcome back, everyone, and good morning. Today we are on day two of our journey through learning the nuts and bolts of corporate bankruptcy law, an interesting and fun journey for those of us who practice in the area. I again want to encourage those in the PLI studio audience and those listening on the web to ask questions if you're here and type questions into the computer access that they give you for the web participants, and I will ...

Recorded on: Apr. 27, 2011

EDWIN E. SMITH: OK, we're now going head to bankruptcy, which is the litmus paper test of a secured transaction. This is where a secured party really finds out whether it's done all of the right things for its security interest to work. This particular talk is going to concentrate on a Chapter 11 bankruptcy case, and how secured creditors are treated in a Chapter 11. But a lot of the things that we're going to talk about will apply to a Chapter 7 ...

Recorded on: Mar. 18, 2013

EDWIN SMITH: It's very important that you do the evaluations. We look at those every year to try to determine who to keep on the panel and who to throw off. I'd now like to introduce, as my colleague on this session, June Basden, from Carruthers & Roth in Greensboro. JUNE BASDEN: And that's Greensboro, North Carolina. EDWIN SMITH: There we go. Right. And so we're here to talk about bankruptcy related issues for asset-based lenders. We're going ...

Recorded on: Nov. 8, 2010

JOHN DELANEY: We're having a few minor technical difficulties with the PowerPoints, but I'm going to do the introductions. And I think we'll have everything fixed shortly. So the next topic. Welcome back. I hope everyone had a nice lunch session. We're back. We're going to talk about bankruptcy issues in connection with outsourcing. Even if you're not reading the papers, we're in the middle of a huge global recession. And hopefully, we're paying ...

Recorded on: May. 23, 2011

DR. LOTHAR DETERMANN: So welcome back everybody to the IP and business transactions program. We're going to go from worse to worst. We've just talked about taxes and now we're going into bankruptcy. But it's certainly something very important and something that with every transaction at the outside needs to be planned for. I have the great honor to introduce David Kennedy here, who is a rare breed in that he started out as a bankruptcy lawyer and ...

Recorded on: Feb. 23, 2012

LOTHAR DETERMANN: So, welcome back, everybody, to our program, IP Issues in Business Transactions. And following the exciting, fascinating topic of taxes, the only thing that could really top that is going to be bankruptcy. And we have a speaker here with Dave Kennedy, who is not only a bankruptcy expert, but also has a considerable amount of IP licensing and commercial expertise, and can help bridge both worlds. David has spoken at this program ...

Recorded on: Dec. 12, 2012

JOSEPH YANG: Hi everybody. We're ready to continue with our last talk of the morning before lunch. At this point it's my pleasure to introduce Lillian Stenfeldt. She's a partner in the Creditor's Rights and Bankruptcy practice group. And in fact, she chairs that practice group at the Cedric firm here in San Francisco. Her practice areas and her expertise include bankruptcy and insolvency, creditor's rights, receivership matters, and complex commercial ...

Recorded on: Nov. 21, 2011

HOWARD J. WEG: All right, everyone, welcome back. The last hour and a quarter we're going to be covering the subject of the employee and compensation trustees and professionals in bankruptcy cases. And it's going to expand into the area of talking about when others, other interests, when creditors and the professionals might get compensated and how we treat prepetition claims for attorneys' fees, proofs of claims for them, objections to them as well, ...

Recorded on: Nov. 6, 2012

HOWARD J. WEG: Welcome back everyone. So for the next 75 minutes we're going to discuss ethical considerations in bankruptcy, which as I referenced earlier will qualify for one hour and 15 minutes worth of MCLA credit toward your ethics segment of your MCLA obligations and requirements. We're going to cover two broad areas, generally speaking. We're going to talk about, today, the appointment and employment of professionals and trustees in bankruptcy ...

Recorded on: Nov. 6, 2012

HOWARD J. WEG: Welcome back everyone. Let's quiet down and get going. The next panel is going to address some more details with respect to the Chapter 11 and the Chapter 11 plan process, which culminates ultimately this afternoon's panel dealing with what the terms of a plan include and how you confirm the plan. But this is the important beginning of the process. We have our two speakers today-- Steve Felderstein and Megan Lewis-- and I turn it over ...

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, ...

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 ...

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 ...

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 ...

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 ...