Bankruptcy Reorganization Plans: Recent Trends and Developments
Strategies for Debtors and Creditors to Navigate Complex Plan Confirmation Rules
Third Circuit Ruling in Philadelphia Newspapers deals blow to lenders
Recording of a 90-minute CLE webinar with Q&A
This CLE course will provide attorneys for debtors and creditors with a thorough review of the requirements for a bankruptcy plan confirmation, the mechanics of bankruptcy cram downs, and strategies for debtors and creditors in negotiating and objecting to a plan cram down.
Outline
- Plan Confirmation Provisions
- Plan requirements
- Voting rules
- Absolute priority rule
- Fair and equitable
- Feasibility of plan
- Burden of debtor
- Appeals and mootness
- Cram Down Strategies and Objections
- New value exception to the absolute priority rule
- Section 1111(b)(2) election for undersecured creditors
- Secured creditor receives indubitable value
- Designation of classes of creditors
- Claims purchasing
- Cram down interest rates post-Till
- Trends and legal developments
- Impact of prepackaged bankruptcies
- Role of 363 sales as part of reorganization
- Key case law developments
- In re Philadelphia Newspapers
- In re Pacific Lumber
- In re Chrysler
Benefits
The panel will review these and other key questions:
- What factors determine whether the debtor's reorganization plan is feasible?
- What are the pitfalls in purchasing claims of other unsecured creditors to defeat plan confirmation?
- How have the courts applied the cram down interest rate post-Till to Chapter 11 cases?
- How will the Philadelphia Newspapers case change strategies for secured lenders?
Faculty
Michael E. Foreman
Of Counsel
Haynes & Boone
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.
CloseJohn F. Isbell
Counsel
King & Spalding
He is a member of the Financial Restructuring Practice Group. His practice includes representation of debtors, secured... | Read More
He is a member of the Financial Restructuring Practice Group. His practice includes representation of debtors, secured lenders, and unsecured creditors in bankruptcy cases, receiverships, and workout matters, as well as bankruptcy and insolvency-related litigation in federal and state courts.
CloseFelicia Gerber Perlman
Partner
Skadden Arps
She represents clients in a variety of complex business reorganizations, debt restructurings and insolvency matters.... | Read More
She represents clients in a variety of complex business reorganizations, debt restructurings and insolvency matters. She has advised debtors, creditors, lenders, investors, sellers, purchasers and other parties-in-interest in all stages of restructuring transactions from Chapter 11 reorganizations to out-of-court negotiations, workouts and acquisitions.
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