in an Uncertain Enforcement Environment
CD of Teleconference with Q&A
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Conducted on Tuesday, June 10, 2008
Now available on CD |
Growth of the second lien financing market has exploded in recent years. Add to that the current wave of major bankruptcies and questions and confusion are developing with regard to the enforceability of intercreditor agreements between first lien and second lien lenders.
Even though the Bankruptcy Code clearly defines lien subordination and payment subordination, the law remains unclear on the enforceability of intercreditor agreement provisions that take away fundamental bankruptcy rights.
The negotiation of intercreditor agreements between first and second lienholders is often complicated because the risks are high and the financial interests of the lenders are extremely opposed. A clear understanding of the issues important to each lender results in smoother negotiations.
Listen as our panel of attorneys discusses the current gray areas surrounding the enforceability of intercreditor agreements in bankruptcy proceedings and offers best practices for negotiating an enforceable agreement.
The panel included:
C. Edward Dobbs, Partner, Parker Hudson Rainer & Dobbs, Atlanta. He has practiced commercial lending and bankruptcy law for over 33 years. He represents financial institutions as secured and unsecured creditors in Chapter 11 bankruptcy cases.
Mark N. Berman, Partner, Nixon Peabody, Boston. He is a member of the firm's Financial Restructuring and Bankruptcy Practice Group. He has represented virtually every kind of interest involved with a financially troubled business for over 30 years.
Randall L. Klein, Principal, Goldberg Kohn, Chicago. He co-chairs the firm's Bankruptcy and Creditors' Rights Group. He focuses on protection and enforcement of creditors' rights, representing institutional lenders and purchasers of distressed claims.
The panel reviewed these and other key questions:
- How have courts ruled regarding the enforceability of intercreditor agreements during bankruptcy proceedings?
- What critical lessons have creditors' counsel learned in their experiences drafting and negotiating intercreditor agreements?
- What are the key provisions in intercreditor agreements — and how can each lender minimize risk through these provisions?
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TELECONFERENCE CD
Purchase a CD-ROM of the full conference proceedings, including Q&A and PDF files of all handouts (available 10 days after the program).
- Regular Price - $297 (plus $9.45 S&H)
- With Teleconference Registration – an additional $75 (plus $9.45 S&H)
CLE credit is available for an additional $65 each for attorneys seeking CLE credits for NY or CT.
Other states may grant CLE credits for listening to this CD - check with your state about applying for self-study credit on CD-listening.