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Chapter 13 Plan and Rule Changes
This panel will review the implications — both good and bad — of the new plan and Rule changes from the debtor, creditor and trustee perspective and discuss what is working, what is not, workarounds, and what further reform is needed.
Small Business Filings: Making Chapter 11 Work in Small Commercial Cases
Many of the challenges that exist in complex business cases are equally at play in small commercial cases. But whereas time and resources might be more abundant in the larger cases, small chapter 11 restructurings frequently demand a more organized — and affordable — process. In this session, the panelists will discuss strategies for efficient reorganizations in small commercial cases by examining different structures for maximizing success, including out-of-court restructuring alternatives, prearranged filings, disincorporation (the transfer of all assets to an individual owner, who then files) and mergers (the combining of entities to avoid multiple filings). The panel will also review Bankruptcy Code and local rules that can be utilized for a simpler, more efficient restructuring process.
Complex Commercial: This Year’s Most Important Issues in Commercial Restructuring
Recent court decisions will impact future commercial restructuring. The panel will provide an overview of the four most pressing issues in commercial restructuring over the past year, including debt recharacterization, third party releases, cram down interest rates, and rights of dissenting bondholders in out of court workouts. In each instance, our expert panelists will provide an overview of the issue at hand, recent case law developments, and considerations of their impact on future restructurings.
Transactions: Closely Held Businesses
This panel will consider how to plan for and resolve disputes in family businesses/closely held partnerships/limited liability companies when there is a deadlock or unplanned event. What happens when the business is in financial distress, senior management suddenly dies, or ownership/management are in disagreement on the next steps for the business? The panelists will debate from various perspectives how best to navigate the corporate form to keep a good business model as a going concern. Issues may arise when the company’s president dies/walks away without a succession plan. How can the company continue? What about where the entity is a single-purpose one and commencing bankruptcy requires unanimity — are there fiduciary duties to consider? Different factual scenarios will be explored from the perspective of both secured lenders and company counsel, ranging from governance issues to enforcement issues (e.g., no succession plan, deadlocks on voting, no life insurance on president, and lender’s collateral). The panel will focus on considerations on voting, transactional and other governance issues both in and out of court.
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