6-Hour Program

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Overview

Effective risk prevention practice, some market volatility, and occasional fraud require businesses to preplan and limit risk with distressed companies. The program will cover current issues relating to structuring, drafting and enforcing the rights of creditors and parties to loans, various executory contracts and inter-creditor agreements, principally in out-of-court restructurings, exchange offers and pre-managed Chapter 11 bankruptcy filings. It will cover issues in structured finance, sales of distressed assets in diverse industries, and valuation issues. The faculty will provide tactics to better protect creditors, including banks, bondholders, hedge funds, and parties in interest, and to maximize values and recoveries. This program is designed for inside and outside counsel, turnaround and Chapter 11 professionals and business people with at least some experience with defaults, structured finance, distressed debt, restructurings, mainstream Chapter 11 cases and litigation. It will include current cases, practice and strategies.  Experienced lawyers will benefit greatly.

Topics Include

  • Current marketplace developments; The role of financial advisors in restructurings
  • Potential impact on restructurings of Supreme Court cases such as Wellness Int’l, Stern v. Marshall, and Jevic
  • Understanding and drafting relevant documentation in distressed and other corporate deals and loan transactions, exchange offers and workouts; TIA issues and recent cases
  • Corporate governance and D&O liability issues in or near the zone of insolvency; Deepening insolvency
  • Enforcement of rights under financial products, including swaps, derivatives, and repurchase agreements — Lehman; Swedbank; SemCrude
  • Structured and complex finance — current issues, including on triangular setoff interest, make fraudulent conveyances, whole premiums and ramifications of Momentive Performance, Lehman
  • Inter-creditor agreements, subordination, voting and distribution issues — Jevic, Momentive Performance, Euro Directories, Westpoint Stevens, Ion Media; Negotiating restructuring agreements and exchange offers; important due diligence and relevant Bankruptcy Code and case analysis; lockups; valuations; TIA issues – Section 316b
  • Sales of distressed assets, bid procedures, “free and clear,” successor liability, credit bidding, “loan to own,” confidentiality; GM; Clear Channel and progeny; River Road; Innkeepers; Fisker
  • Negotiating, drafting, and litigating over pre-managed but not prepackaged Chapter 11 plans and disclosure statements; valuations; structured dismissals and gifting controversy

Credit Details