Bankruptcy Reorganization: When the Debtor Defaults Under a Confirmed Plan and Other Post-Confirmation Issues

Recording of a 90-minute CLE video webinar with Q&A


Conducted on Wednesday, July 14, 2021

Recorded event now available

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Course Materials

This CLE course will discuss what happens after confirmation and what happens when a debtor defaults under a plan of reorganization, whether confirmed under the regular provisions of Chapter 11 or new Subchapter V. The program will review the impact of confirmation on critical issues, the use of post-confirmation entities to implement the plan, the remedies available on default, and how creditors can and must be protected under the new provisions of Subchapter V.

Description

To confirm a Chapter 11 plan, the business debtor must convince creditors that it can meet the obligations of the reorganization plan and that it isn't likely to liquidate or undergo further financial reorganization after confirmation. Despite the best forecasting, unforeseen events occur or the debtor may promise more than it can deliver.

When this happens, creditors need to understand what happens and the available options and the consequences of those options, as well as the bankruptcy court's post-confirmation jurisdiction.

The case might be converted to Chapter 7 or the plan could be modified. Special issues would arise under new Subchapter V if the plan was not consensual. The Subchapter V plan must contain some protection for impaired creditors if the debtor does not perform.

Listen as this experienced panel reviews the issues involved in implementing the plan and what happens when a debtor defaults under a reorganization plan, whether confirmed under the regular provisions of Chapter 11 or new Subchapter V.

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Outline

  1. Impact of confirmation under Chapter 11 and Subchapter V
  2. Use of post-confirmation entities
  3. Remedies for defaults under the confirmed plan
  4. Protecting non-consenting creditors under Subchapter V

Benefits

The panel will review these and other important issues:

  • How are creditors protected if the debtor defaults?
  • What pre-confirmation decisions can be reversed, and which ones are final?
  • Is a reservation of jurisdiction by the bankruptcy court relevant to post-confirmation jurisdiction in the confirmation order?

Faculty

Jones, Michael
Michael Jones

Attorney
M. Jones and Associates

Mr. Jones' practice involves primarily consumer bankruptcy work, as well as related consumer protection matters,...  |  Read More

Jordan, Jonathan
Jonathan M. Jordan

Counsel
King & Spalding

Mr. Jordan is a counsel in the Financial Restructuring practice in King & Spalding's Atlanta office. His...  |  Read More

Primrose, Sarah
Sarah Primrose

Attorney
King & Spalding

Ms. Primrose represents debtors, lenders, investors, and  creditors in a broad range of restructuring matters,...  |  Read More

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