Bankruptcy Plan Confirmation Challenges: New Value, Vote Changes, Third-Party Guaranties, D&O Selection
Recent Updates on Key Issues for Obtaining Plan Approval or Objecting to a Plan
Recording of a 90-minute CLE webinar with Q&A
This CLE course will discuss recent developments in plan confirmation issues, including whether a plan that offers new value from an insider can be confirmed without an auction process, the effect of third-party guarantees, whether creditor must have “good cause” to change a plan vote, and the selection of directors and officers of reorganized debtor. The program will discuss the issues from the perspective of both the debtor and creditors, equity holders and other stakeholders.
Outline
- New value plans
- Effect of third-party guarantees on claim classification
- The right to change a plan vote
- Selection of directors and officers of reorganized debtors under Section 1129(a)(5)(A)(ii)
Benefits
The panel will review these and other key issues:
- Whether a plan that offers new value from a non-equityholder insider can be confirmed without an auction process
- The effect of third-party guarantees on claim classification
- What constitutes “cause shown” to change a plan vote, particularly where the claim at issue has been transferred
- The selection of directors and officers of reorganized debtor under Section 1129(a)(5)(A)(ii)
Faculty

Michael E. Foreman
Partner
ForemanLaw
Mr. Foreman has more than 20 years of financial restructuring and bankruptcy experience, representing secured and... | Read More
Mr. Foreman has more than 20 years of financial restructuring and bankruptcy experience, representing secured and unsecured lenders and creditors, acquirers of and investors in distressed assets, and reorganizing of financially distressed companies, in many of the nation's largest and most complex restructurings. He also represents lenders, other creditors, investors and companies in out-of-court and cross border restructurings. Mr. Foreman also provides bankruptcy counseling in the areas of structured financing and securitization.
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Michael J. Riela
Shareholder
Vedder Price
Mr. Riela focuses his practice on all aspects of bankruptcy and out-of-court workouts. He acts on behalf of banks,... | Read More
Mr. Riela focuses his practice on all aspects of bankruptcy and out-of-court workouts. He acts on behalf of banks, funds, lender groups, indenture trustees, debtors, major trade creditors and contract counterparties, members of official unsecured creditors' committees and other significant parties in commercial and real estate restructuring and workout matters inside and outside of bankruptcy.
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