Finance and Banking

The issue of "double-dipping", wherein a creditor is able to increase its recovery by multiplying its allowed claim against a particular entity or asserting claims against multiple entities, has been prevalent in a number of recent restructurings, including American Airlines, Lehman Brothers, CIT Group Inc., Smurfit-Stone Container Corp. and AbitibiBowater Inc. This panel will address the concept of "double-dipping", the scenarios under which it arises and their experience in dealing with the issue in various cases.

This panel will address current developments and improvements in DIP financing, including incurring credit in the ordinary course, priming liens, fairness, adequate protection, loan fees, mootness and good faith.

This panel will discuss recent trends and views on various issues that arise in an out-of-court workout, as well as various strategies that can be employed in a bankruptcy case—all from the lender’s perspective. The panel will also explore the latest developments in DIP financing.

The challenges and difficulties of avoiding leveraged buyout transactions, covering emerging law involving LBOs including application of the § 546(e) safe harbor and collapsing such undertakings.

BK 360 Revisited: ABI Past-Presidents Panel

Chapter 11 Track: Mock Hearing—DIP Financing and 363 Sales Two experienced chapter 11 counsel will conduct a mock argument before a three-judge panel on key issues that arise in the approval of DIP financing and approval of a 363 sale. DIP hearing issues will include roll-ups, liens on avoidance actions, expedited sale procedures, 506 waiver, no committee carve-out, no plan without lender’s consent, and enforcement of subordination agreements. Sale issues will include assumption and assignment or rejection of IP licenses, as well as the rights of junior lienholders to block sales where not paid in full.