Absolute Priority Rule: How Absolute is Absolute?
Navigating the New Value Exception, Competitive Bidding and Gifting Strategies in Business Bankruptcies
Recording of a 90-minute CLE webinar with Q&A
This CLE course will provide bankruptcy counsel with a review of the absolute priority rule and case law developments since 203 North LaSalle, particularly a recent Seventh Circuit ruling in Castleton Plaza. The panel will also discuss the impact of these rulings on other related issues of competitive bidding and gifting strategies.
- 203 North LaSalle and Circuit Court interpretations of the absolute priority and the new value exception to the rule
- Analysis of Castleton Plaza and the scope of new value exception to the rule
- Impact of Castleton on other absolute priority issues, such as competitive bidding and gifting strategies
- Application of the absolute priority rule and new value to individual Chapter 11 plans
The panel will review these and other key questions:
- What guidance does Castleton Plaza provide to the U.S. Supreme Court’s directives in 203 North LaSalle?
- How does Castleton fit in with other recent decisions affirming the absolute priority rule in so-called gifting plans
- Does Castleton Plaza have broader implications for reorganization cases?
Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.
Mr. Skapof is experienced in all aspects of insolvency and reorganization matters. He regularly represents receivers,... | Read More
Mr. Skapof is experienced in all aspects of insolvency and reorganization matters. He regularly represents receivers, trustees, debtors, creditors’ committees, secured and unsecured creditors, bondholder groups, DIP and exit lenders, and acquirers of assets in both out-of-court restructurings or chapter 11 cases. Mr. Skapof has experience in the retail, commercial real estate, utilities, energy and healthcare sectors.Close
Ferve E. Ozturk
Ms. Ozturk focuses her practice in the areas of bankruptcy, creditors’ rights, financial restructuring and... | Read More
Ms. Ozturk focuses her practice in the areas of bankruptcy, creditors’ rights, financial restructuring and liquidations. She has significant experience with several complex liquidations and restructurings, including Bernard L. Madoff Investment Securities, In re Delphi Corp., In re Eastman Kodak Co., In re Dewey & LeBoeuf.Close
Durc A. Savini
Managing Director and Head of Restructuring
Peter J. Solomon Company
A veteran banker in the restructuring advisory business, he joined PJSC in 2010. During the course of his... | Read More
A veteran banker in the restructuring advisory business, he joined PJSC in 2010. During the course of his distinguished 20-year, he led restructurings, mergers, acquisitions and debt and equity raising transactions on behalf of a wide variety of clients including Lear Corporation, Sunbeam Corporation, Dana Corporation, Polaroid, Burlington Industries, Dura Automotive Systems, and Clayton Dubilier & Rice.Close