Bankruptcy Credit Bidding Post Fisker: Strategies for Protecting a Credit Bid or Making For Cause Challenges
Recording of a 90-minute CLE webinar with Q&A
This CLE course will provide finance and lending counsel with a briefing on the evolution of credit bidding with a focus on the Fisker Automotive ruling and subsequent case law developments. The panel will discuss the impact of recent rulings on the distressed debt market as well as other secured lenders who may have their claims challenged for cause.
Outline
- Overview of the Fisker Automotive ruling
- Case law developments post-Fisker
- Free Lance-Star Publishing Co. (E.D. Va. April 2014)
- RML Development (W.D. Tenn. July 2014)
- Adkins Corp. (5th Cir. 2015)
- Effective loan-to-own strategies that minimize a credit bid challenge
- Effective arguments for other creditors to challenge a credit bid
Benefits
The panel will review these and other key issues:
- What case law guidance is there regarding the scope of the “cause” exception to a creditor’s right to credit bid under Section 363(k) of the Bankruptcy Code?
- How can distressed debt investors minimize a potential for cause challenge to its right to credit bid?
- What are best arguments for other creditors to successfully challenge a lender’s right to credit bid?
- What are the takeaways from Fisker and its progeny for secured lenders in protecting their right to credit bid?
Faculty
Ronald S. Gellert
Member
Gellert Scali Busenkell & Brown
Mr. Gellert is an experienced commercial attorney with a broad background of matters in most of the Delaware,... | Read More
Mr. Gellert is an experienced commercial attorney with a broad background of matters in most of the Delaware, Pennsylvania and New Jersey courts, including the Delaware Chancery Court. He has a particular specialty in debtor/creditor matters, including the large Chapter 11 bankruptcy cases in Delaware as well as out of court restructurings and receiverships. In addition, Mr. Gellert is active in many Chapter 11 bankruptcy cases pending throughout the nation.
CloseBen Rosenblum
Partner
Jones Day
Mr. Rosenblum represents debtors, creditors and other parties in interest in court supervised proceedings, out-of-court... | Read More
Mr. Rosenblum represents debtors, creditors and other parties in interest in court supervised proceedings, out-of-court restructurings, distressed acquisitions, and distressed counterparty risk assessment and management. He also has extensive experience representing major financial institutions with respect to the application of bankruptcy law to derivatives
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Stephen B. Selbst
Partner
Herrick, Feinstein
Mr. Selbst has more than 30 years of experience representing debtors, creditors, official committees, distressed... | Read More
Mr. Selbst has more than 30 years of experience representing debtors, creditors, official committees, distressed investors and asset purchasers in bankruptcies and out-of-court restructurings. He is a frequent lecturer on bankruptcy and restructuring topics and has published articles and book chapters on bankruptcy-related topics. He has been frequently quoted in newspaper articles on insolvency related topics and has appeared on CNBC.
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