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NCBJ: Restructuring in the Wake of Coronavirus
The economic catastrophe created by the Coronavirus is unique. In the past, recessions have been prompted by sustained periods of high interest rates. This recession has been caused by a virus and it is hitting the United States and world economy already saddled with record levels of debt. Almost all businesses are dealing with the prospect of sudden ends to cash flow, yet a relatively new generation of companies, "zombies" who earn too little to make even interest payments on their debt are faced with the ultimate challenge. The level of debt in America's corporate sector amounts to 75% of the country's gross domestic product, breaking the previous record set in 2008. Debt burdens are precariously high in numerous industries that are now taking a direct hit from the Coronavirus. Join us for a fascinating fireside chat with Professor Troy McKenzie of New York University School of Law, Jamie Sprayregen or Kirkland & Ellis and Jennifer Hagle of Sidley. They will explore and discuss strategies to use in this unique time in economic history. Is the Bankruptcy Code useful, are there strategies outside the Code which are helpful and how can professionals work to benefit their clients in a world like we have never experienced?
NCBJ: SBRA: So Many Choices, So Little Time - Electing to Proceed Under Subchapter V
This panel will explore some of the more difficult aspects of cases under subchapter V, including the considerations that debtors face when making the election to proceed under subchapter V and a discussion of the earliest decisions interpreting the new statute.
NYIC: The Small Business Reorganization Act: Perspectives from All the Major Players in a Case
The NYIC sponsored this October 22, 2020, session as part of the Insolvency 2020 Summit. The panelists provide an overview of subchapter V and its key provisions, discussing the various perspectives in subchapter V, cash collateral and DIP financing in subchapter V, and general trends in subchapter V cases.
New World Orders: Post COVID Practice
The novel coronavirus has certainly induced many systemic changes around the world, and the bankruptcy and restructuring industry is no exception. What once worked in a pre-COVID-19 world might not work anymore, so parties must adapt quickly, often with no precedence upon which to rely. This panel will discuss the idiosyncrasies and novel ways bankruptcy practice is operating, restructuring and adapting to a “new normal,” and how constituencies on all sides of the table are approaching its unique aspects.
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