Business Reorganization

Higher education institutions face distinct challenges when financial trouble hits — from governance structures to accreditation concerns to the impact on students and faculty. This panel covers the early warning signs of distress, key restructuring alternatives, and the fiduciary duties a governing body faces once an institution is in trouble.Learning Objectives:Attendees will identify the unique legal, regulatory, and accreditation-related challenges facing distressed higher education institutions.Attendees will evaluate restructuring and wind-down strategies tailored to colleges and universities, including considerations specific to students, faculty, and other stakeholders.Attendees will recognize recent trends and case studies shaping the treatment of distress in the higher education sector.

This session reviews the difficulties facing the spirits industry and options for rehabilitation. The panelists consider some active and past cases to highlight solutions, as well as other solutions for when bankruptcy is not the best option, including an increased focus on receiverships and other out-of-court options.Learning Objectives:Attendees will identify the economic, operational and market challenges contributing to financial distress within the spirits industry and related consumer-product sectors.Attendees will analyze restructuring and rehabilitation strategies used in distressed spirits businesses, including lessons learned from recent bankruptcy and insolvency proceedings.Attendees will evaluate the advantages and limitations of bankruptcy, receiverships and out-of-court restructuring alternatives when addressing distress in the spirits industry.

When a distressed business is in “free fall,” the most consequential decisions often occur before a petition is ever filed. This panel examines the high-stakes strategic choices lenders, debtors and fiduciaries face in the critical pre-petition window and how those decisions can shape, or derail, the outcome of a restructuring. The panelists explore such questions as whether a secured lender should sweep operating accounts holding cash collateral, when a debtor should pursue chapter 7, chapter 11 or an assignment for the benefit of creditors, and whether consenting to a receivership may offer a better path. The panelists also address insider claim resolution, preferential or critical vendor payments, employee compensation issues, and the litigation risks that follow pre-filing conduct.Learning Objectives:Attendees will identify critical pre-petition decisions that can significantly affect the outcome of a distressed business restructuring.Attendees will analyze strategic alternatives, including chapter 7, chapter 11, receiverships and assignments for the benefit of creditors.Attendees will evaluate litigation risks and stakeholder consequences arising from pre-filing conduct, cash management decisions and insider transactions.

This session provides an in-depth discussion on discovery in bankruptcy proceedings, including strategies and best practices for creating an admissible Rule 2004 record.Learning Objectives:Attendees will evaluate key litigation strategies and procedural considerations that arise throughout the lifecycle of a civil dispute, from case assessment through resolution.Attendees will identify effective techniques for developing factual records, managing discovery, and presenting persuasive legal arguments in both written and oral advocacy.Attendees will apply practical lessons from litigation scenarios to improve case management, client counseling, negotiation, and courtroom decision-making.

This panel provides a fast-paced and interactive review of significant recent business bankruptcy decisions and developments shaping today’s restructuring landscape. Through a curated discussion of key cases, the panelists examine the facts, holdings and broader implications of notable rulings affecting chapter 11 practice, litigation strategy and restructuring trends. Moderated discussion and panel commentary offer attendees practical insight into how these developments may impact future cases and advocacy approaches.Learning Objectives:Attendees will identify and interpret recent business bankruptcy decisions impacting chapter 11 practice and restructuring strategy.Attendees will evaluate the legal and practical implications of emerging case law affecting debtors, creditors, lenders, and other stakeholders.Attendees will formulate strategic approaches for addressing evolving business bankruptcy issues in litigation, negotiations, and plan administration.

This TED-Talk–style panel brings together experienced bankruptcy practitioners to address three critical aspects of modern bankruptcy practice: recent Supreme Court developments, strategic considerations in deciding whether to file for bankruptcy, and the impact of language and terminology on advocacy and outcomes. Through concise, focused presentations, the panel explores how legal doctrine, strategic judgment, and effective communication intersect to shape successful bankruptcy representation. 

You are in the late stages of trial preparation — just 60 days before trial. You are past the summary-judgment stage, mediation has been unsuccessful, and discovery is complete. Absent a Hail Mary or surprise settlement, you are going to trial. This session will talk you through, and offer tips and advice for, your final trial preparations.

This session provides a practical roadmap for preparing and trying issues in consumer bankruptcy cases, with a particular focus on common consumer trial issues such as asset valuation and exemption disputes. Moderated by Judge Vaughan, the panel brings together judicial and practitioner perspectives to guide attendees through the critical stages of trial readiness, including pretrial preparation, discovery strategy, subpoena practice, evidentiary considerations, and effective trial presentation. In addition, the session addresses the financial considerations facing consumer practitioners, including strategies for structuring fees, obtaining court approval, and effectively getting paid for litigating consumer matters. The session emphasizes practical tips, best practices, and common pitfalls encountered in consumer trials. 

The attributes of the limited liability company form that are considered favorable by clients and advisers alike can present distinctive challenges in chapter 11. This panel will delve into those challenges and relevant case law developments in the context of a hypothetical transaction. The panelists will provide their valuable insights on relevant current topics and issues, such as the LLC’s authority to file a chapter 11 case, fiduciary duties and duty waivers, derivative standing, and tax implications for LLC stakeholders. Attendees can anticipate receiving actionable analyses to apply in future cases, whether preparing for a chapter 11 case, advising a committee or structuring a transaction.

Liability-management exercises (LMEs) have become common transactions in order for financially distressed companies to obtain financing secured by previously encumbered assets. From uptiers, drop-downs, double dips and pari plus transactions, courts have begun to analyze and rule on the enforceability of LMEs and, in certain instances, their limitations. This panel will analyze various examples of recent LMEs and discuss the repercussions of such transactions from both the borrower and lender perspective.