Business Reorganization

This panel will focus on issues that can arise during an LLC bankruptcy, such as what happens when parties contract out of fiduciary duties and the effect that bankruptcy has on key provisions in an LLC operating agreement, including management and ownership rights and remedies, as well as what happens when a bankruptcy proceeding is initiated against the LLC or one or more of its members. The panel will also discuss Intervention Energy and Lake Michigan, in which the bankruptcy courts refused to enforce LLC agreement provisions requiring the respective LLCs to obtain the unanimous consent of their members in order to seek bankruptcy relief.

Lien-Perfection Issues; Ethical Considerations for Debtors’ Counsel; Authority to File; Creditor Standing to Prosecute Estate Claims; Cash Collateral/Adequate Protection

Representing public figures whose livelihood depends on their public image presents particular challenges for bankruptcy professionals. This panel of lawyers, each with their own experiences representing celebrities and other prominent figures in their bankruptcy cases, will share their thoughts on the process and the issues that are unique in these cases.

Presented by the Business Reorganization and Financial Advisors & Investment Banking Committees

Every reorganized debtor’s chapter 11 confirmation order has a § 1129(a)(11) finding that confirmation is not likely to be followed by the liquidation or further need of financial reorganization of the reorganized debtor. Nevertheless, it is common to see chapter 22s and chapter 33s in bankruptcy courts. This panel of leading financial advisors and industry experts are on the front lines of successful and not-so-successful restructurings. They will also discuss the myriad reasons that chapter 22s and chapter 33s occur and the lessons learned from those cases.

Today’s bankruptcy cases are almost all done in record time. Join our nationally recognized experts as they discuss a range of best strategies for both debtors and creditors to expedite both in- and out-of-court business reorganizations. This panel will discuss out-of-court remedies, prepacks and other procedures to increase efficiency in reorganizing struggling businesses.