Business

Hosted by the Asset Sales and the Financial Advisors & Investment Banking Committees This panel will focus their discussion on the need for disinterested independent directors to employ their own counsel/FAs/IBs in connection with the sale of assets. The main topic will be based on the facts in the Toys “R” Us case, where six groups of independent managers and directors have their own separate counsel and advisors. The panelists believe that similar facts exist in other recent cases, and more cases will reflect this in the future. The panel will discuss such topics as the need for this type of representation, the costs associated and how such costs are accounted for in the case, and what other legal and ethical implications all of this can have on the sale of a debtor’s assets.

This panel will discuss an update on § 546(e) safe harbors, preemption issues, the cap on recovery under § 550, and Merit Management, Tribune, Physiotherapy and Lyondell.

This panel will explore the impact of unknown (or unknowable) claims and best practices for attempting to bar such claims through a chapter 11 plan or § 363 sale. The panelists will address cases involving product liability (including the recent GM case), environmental claims, and other situations where due-process concerns could limit the ability to bar such claims.

This session will provide an overview of the requirements to file an involuntary bankruptcy case and the advantages and pitfalls that arise from these filings, including petitioner liabilities.

The Supreme Court’s opinion in Jevic limited the options available to effectuate settlements, particularly over the objection of impacted parties. This panel will discuss creative approaches to implementing settlements and disposing of cases, with a special focus on cases where objecting parties are seeking to prevent settlement.

This panel will discuss the use of rights offerings as a bridge to exiting bankruptcy for reorganizing debtors. The panelists will focus on evolving market trends and hot-button issues arising in recent cases, such as backstop participation and related fees, treatment of nonparticipants, and questions regarding shifting values. We will also touch on other financing alternatives that reorganizing entities may consider in bridging the gap to exit.