Bankruptcy Avoidance Actions: Navigating the Evolving Standards
Pursuing and Defending Preference and Fraudulent Transfer Actions
Recording of a 90-minute CLE teleconference with Q&A
Conducted on Wednesday, June 10, 2009
Recorded event now available
This seminar will discuss the standards and best practices for prosecuting and defending bankruptcy avoidance actions and analyze the Bankruptcy Code's limitations on and safe harbors for avoidance actions.
Description
As corporate bankruptcies soar, avoidance actions are affecting numerous lenders and vendors. These actions create uncertainty in the current economic decline because creditors are wary of doing business with distressed companies for fear of losing money or collateral in an avoidance action.
For trustees, effective and efficient recovery of payments maximizes distribution to the class of creditors. For creditors, protecting their collateral or monies received from the debtor may be critical to the financial bottom line of the business.
The standards for bringing avoidance actions, defenses to avoidance actions and limitations and safe harbors are constantly evolving and case law is inconsistent among circuits. Thus, it is essential that bankruptcy attorneys understand all of the nuances of avoidance litigation.
Listen as our panel of bankruptcy attorneys discusses case law developments in the area of avoidance litigation and provides best practices for prosecuting and defending avoidance actions.
Outline
- Pursuing Avoidance Actions
- Chapter 5 actions
- Preferences; fraudulent transfers
- Liens on avoidance actions; releases
- Assignment of avoidance actions; standing
- State preference statutes
- Defending Avoidance Actions
- Defending preference actions
- Attacking plaintiff’s prima facie case
- Ordinary course of business
- New value
- Contemporaneous exchanges
- Other defenses
- Defending fraudulent transfer actions
- Defending preference actions
- Limitations of Avoidance Powers
- Mechanics liens
- Reclamation
- Margin, settlement payments, securities contracts
- Repurchase agreements
- Swaps
- Master netting agreements
Benefits
The panel will review these and other key questions:
- Under what circumstances may creditors bring avoidance actions?
- How are assets of the estate valued in determining whether the debtor is insolvent at the time of a transfer?
- What defenses do refinancing lenders have to avoidance actions and why timely perfection of the lien or security interest is critical?
- Does the discharge of claims by one bankrupt estate distinguish claims against it by another bankrupt estate?
Faculty
Brian E. Greer,
Counsel
Dechert, New York
He has substantial experience in complex out-of-court and in-court restructuring matters. His practice focuses on the representation of domestic and foreign debtors, secured and unsecured creditors, creditors' committees, equity sponsors, senior management, financial advisors, and purchasers, sellers, and lenders in distressed M&A transactions.
Steven M. Yoder,
Partner
Potter Anderson & Corroon, Wilmington, Del.
He is in the firm's Bankruptcy and Corporate Restructuring practice and heads the firm's representations of debtors. His practice focuses primarily on bankruptcy, restructuring, workouts and commercial litigation. He is also experienced in representing official committees, secured lenders, asset purchasers, equity security holders and other unsecured creditors in large bankruptcy cases in Delaware.
Frederick B. Rosner,
Partner
Messana Rosner & Stern, Wilmington, Del.
His practice focuses on debtor's and creditor's rights as well as secured transactions, commercial litigation and general corporate law. He represents chapter 11 debtors, creditors' committees, secured and unsecured creditors, insurance companies, debtor-in-possession lenders, intellectual property licensors and investors in workouts and bankruptcy cases.
Ordering
Online CLE - Audio Recording
Includes audio streaming of full program plus handouts (available 24 hours after live seminar).
CLE:
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Online CLE Audio $149.00
Available 24 hours after the live event
Recorded Event
Includes full event recording plus handouts (available after live seminar).
CLE: Pre-approved for self-study credit in: AK, AZ, CA, CT, HI, MO, MT, NY, TX, VT, WA, WV. Upon request, self-study credit is also available in: CO, FL, GA, ID, KY, ME, ND, NE, NH, NM, NV, OR, UT, WI, WY. If you are applying for self-study credit in one of these states, contact Strafford CLE at 1-800-926-7926 ext. 35 or CLE@straffordpub.com.
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Available ten business days after the live event
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Customer Reviews
The program was very thorough, stayed on topic and was well organized.
Thad Wilson
King & Spalding LLP
The webinar was very informative on very pertinent matters and had a good flow.
Noam Wiener
Allen & Overy LLP
The program material was very well organized and thorough.
Laura Buckley
Higgs, Fletcher & Mack
The seminar was very insightful with a terrific grasp of the relevant case law and legal issues.
Gregory Fox
Friedman Kaplan Seiler & Adelman LLP
I liked the different speaker perspectives.
Gina Fama
Standard Chartered Bank
Bankruptcy Law Advisory Board
Partner
Nixon Peabody
Partner
Potter Anderson & Corroon
Of Counsel
Haynes & Boone
Shareholder
Greenberg Traurig
Partner
Dechert
Shareholder
Vedder Price
Partner
Nixon Peabody
Partner
Kaye Scholer
Counsel
Skadden Arps Slate Meagher & Flom
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