Prepackaged and Prenegotiated Chapter 11 Reorganizations
Evaluating the Benefits and Risks of Pre-Bankruptcy Restructuring Plans
Recording of a 90-minute CLE teleconference with Q&A
Conducted on Thursday, June 25, 2009
Recorded event now available
This seminar will analyze the benefits and risks facing a company that is weighing whether to use a prepackaged or a prenegotiated plan for a Chapter 11 reorganization and will outline strategies for the business debtor in negotiating the plan with creditors.
Description
The surge in bankruptcy filings triggered by the economic crisis has led to an increase in business’ use of prepackaged Chapter 11 plans, commonly called “prepacks.” Prepacks involve the negotiation and creditor approval of a reorganization plan prior to filing for bankruptcy.
Prepacks are attractive to debtors because they can be significantly faster and less costly than filing a traditional Chapter 11 and negotiating a plan after the filing. However, debtors must carefully consider whether the risks of prepacks outweigh the time and cost savings.
Like prepacks, prenegotiated restructuring plans minimize the duration and expense of Chapter 11 cases. Debtors that decide the prepack option is too risky for their company might consider the prenegotiated plan as an alternative.
Listen as an authoritative panel of restructuring attorneys delves into the benefits and risks a company must understand in deciding whether to use a prepack or prenegotiated plan to accomplish a Chapter 11 reorganization. The panel will offer best practices for debtors negotiating such a plan with creditors.
Outline
- Introduction — prepacks and prenegotiated bankruptcy plans
- When each is appropriate
- Jurisdiction and venue issues
- Creditor side — benefits and risks
- Debtor side — benefits and risks
- Current market trends
Benefits
The panel will review these and other key questions:
- What market factors have contributed to the resurgence of prepackaged Chapter 11 plans?
- How can prenegotiated bankruptcies help lenders and borrowers?
- In what scenarios are prepacks or prenegotiated plans more or less attractive than a traditional Chapter 11 filing?
Faculty
Kurt A. Mayr,
Partner
Bracewell & Giuliani, Hartford, Conn.
He represents a wide range of parties in domestic and international insolvency/restructuring matters, including creditors, debtors, acquirers and other interested parties in transactions both out-of-court and under court supervision. His practice focuses upon representing ad hoc and official creditor committees and groups in connection with Chapter 11 and ancillary proceedings.
Mette H. Kurth,
Partner
Arent Fox, Los Angeles
She focuses on all aspects of financial restructuring, distressed situations, and bankruptcy issues, and uses her experience to develop pragmatic and creative solutions to protect her clients' interests. She has represented a variety of creditors' committees, debtors, unsecured creditors, acquirers of bankrupt companies, and trustees both in out-of-court workouts and in federal bankruptcy cases.
Robert J. Dehney,
Partner
Morris Nichols Arsht & Tunnell, Wilmington, Del.
He is the practice group leader of the Business Reorganization and Restructuring Group. He has substantial experience representing debtors and creditors in bankruptcy cases and in out of court restructurings, advising boards of directors of financially troubled companies and providing advice in connection with the acquisition of and/or lending to financially troubled companies.
Ordering
Online CLE - Audio Recording
Includes audio streaming of full program plus handouts (available 24 hours after live seminar).
CLE:
Pre-approved for participatory or non-traditional/alternate format credit in: CA, HI*, NY*, WV*.
Pre-approved for self-study credit in: AK, AZ, MO, MT, TX, VT, WA.
Upon request, also available in: CO, CT*, FL, GA, ID, KY, LA, ME, NC, ND, NE, NH, NM, NV, OR*, SC, TN, UT, WI*, WY. If you are applying for credit in one of these states, make sure to select those states when placing your order.
(*Indicates that Strafford must report attendance.)
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.
MP3 Download (Audio Only) $49.00
Available 24 hours after the live event
CD $49.00
plus $9.45 S&H
Available ten business days after the live event
CLE Credit
Strafford's live seminars qualify for CLE in every state that accredits webinars. They offer you a high quality, cost effective, and convenient CLE option, with no lost travel time or expenses.
Customer Reviews
The back-and-forth between the panelists made the program easy to listen to. The slides were very well done.
Chris Kelly
Mayer Brown
Concise and accurate presentation. Handouts very informative.
William Moran
Shire Canada
Content was excellent.
Jonelle Burnham
Kimberly-Clark
The three presentations created a balanced approach.
Cris Navarro
Enloe Medical Center
High quality content, good speakers, and convenient to do over the web.
Ed Moomjian
Udall Law Firm
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