FDIC's Expanded Role in Bank Holding Company Insolvencies
Navigating the Complexities of Banking Regulators' Participation in the Bankruptcy Process
Recording of a 90-minute CLE webinar/teleconference with Q&A
Conducted on Thursday, July 26, 2012
Recorded event now available
This CLE webinar will provide counsel with a review of the FDIC’s role in BHC bankruptcies and the complex issues facing BHCs, their bank subsidiaries, and the boards and creditors of both. The program will also discuss the impact of the Orderly Liquidation Authority on BHC insolvencies.
Description
Recent developments have greatly expanded the role of the Federal Deposit Insurance Corporation (FDIC) as a participant in insolvency proceedings of bank holding companies (BHC). In the past few years, many BHCs have entered bankruptcy as a result of a subsidiary bank failure, or for protection to recapitalize or sell a subsidiary bank.
Whether or not a subsidiary bank survives the BHC bankruptcy, regulators will have a significant impact on a BHC’s insolvency proceedings. Regulators' impact will be through large claims asserted against the estate or due to prior formal or informal enforcement actions taken against the subsidiary.
Complex issues presented in BHC bankruptcies may include pre-petition capital maintenance agreements, ownership of tax refunds, limitations on ongoing bank activities, overlapping boards of directors, access to confidential information related to the subsidiary bank, and the exercise of the FDIC’s extraordinary powers.
Listen as our authoritative panel of attorneys discusses the expanded role of the FDIC in the bankruptcy proceedings of BHCs and the impact of the regulators' presence on the proceedings.
Outline
- Role and impact of FDIC in BHC bankruptcy proceedings
- Complex issues that arise in BHC bankruptcy proceedings
- Impact of Orderly Liquidation Authority on future role of FDIC in BHC insolvencies
Benefits
The panel will review these and other key questions:
- How are pre-petition capital maintenance agreements treated under the Bankruptcy Code and what impact will these claims have on other creditors of the BHC?
- Does the BHC or the FDIC own the tax refunds generated by the BHC and its banking subsidiaries?
- Does a trustee have standing to assert breach of fiduciary duty claims against the former directors and officers of a BHC for harm caused to the BHC?
Faculty
Todd C. Meyers, Partner
Kilpatrick Townsend & Stockton, Atlanta
He focuses his practice on bankruptcy and insolvency matters and represents committees, creditors and debtors in both workouts and bankruptcy proceedings. He has been listed in Chambers USA: America's Leading Lawyers for Business for Bankruptcy/Restructuring Law every year since 2006 and was recognized by the Legal 500 US for Bankruptcy Law in 2009 and for Corporate Restructuring in 2011.
Ivan L. Kallick, Partner
Manatt, Phelps & Phillips, Los Angeles
His bankruptcy, insolvency and workout practice is concentrated on large reorganization cases, and he has represented debtors, creditors, creditors’ committees, franchisors, governmental and regulatory entities, and landlords in a wide range of matters and businesses including real estate development and brokerage, hospitality, manufacturing, healthcare, entertainment and service industries.
James D. Higgason, Partner
Diamond McCarthy, Houston
For more than 20 years, he handled complex commercial actions nationwide. More recently he has devoted much of his practice to debtor-creditor litigation, particularly matters arising in bank holding company bankruptcies. He represented the Bank of New England Corporation trustee in securing unprecedented fraudulent transfer recoveries in actions against the FDIC and in an auditor malpractice case.
Ordering
Online CLE - Audio Recording
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CLE:
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Available 24 hours after the live event
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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. (*Indicates that Strafford needs to process the CLE — see below to purchase this option.)
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Program Materials
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Customer Reviews
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Finance Law Advisory Board
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Gibson Dunn & Crutcher
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Nixon Peabody
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Alston & Bird
Counsel
Mayer Brown
Partner
O’Melveny & Myers
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