Bankruptcy Restructuring Support Agreements: Drafting Strategies to Avoid Expensive Confirmation Battles
A live 90-minute CLE webinar with interactive Q&A
This CLE webinar will equip counsel to negotiate and draft restructuring support agreements (RSAs, also known as "lock-up" or "plan support agreements") that will help reduce the cost, length, and adverse effects of a Chapter 11 case. A well structured RSA can assure all stakeholders that the debtor will emerge from the process with a minimum of disruption to the business, its creditors, and its employees. The program will discuss how RSAs can help to coordinate a multitude of stakeholders and the pitfalls of attempting to circumvent Bankruptcy Code protections.
Outline
- Overview of RSAs
- Identifying the proper parties
- Provisions for debtors
- Provisions for creditors
- Terms that invite objection
- Solicitation vs. negotiation
- Giving plan supporters better treatment
- Milestones
- Fiduciary terms
- Third-party releases
- Drafting best practices
Benefits
The panel will review these and other key issues:
- What is a plan support agreement?
- Can RSAs alter Bankruptcy Code priorities?
- What are the most important terms in an RSA for the various parties and stakeholders?
- How does a court review an RSA?
- How can the parties prevent overreaching by certain constituencies?
Faculty
Howard Brod Brownstein (Moderator), CTP
President and CEO
The Brownstein Corporation
Mr. Brownstein provides turnaround management and advisory services to companies and their stakeholders, as well as... | Read More
Mr. Brownstein provides turnaround management and advisory services to companies and their stakeholders, as well as investment banking services, fiduciary services, and litigation consulting, investigations and valuation services. He also serves as an independent corporate board member for publicly-owned and privately-held companies, as well as large nonprofits.
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Griffin S. Dunham
Member
Dunham Hildebrand
Mr. Dunham concentrates his practice in the areas of Chapter 11 bankruptcy reorganizations, insolvency and distressed... | Read More
Mr. Dunham concentrates his practice in the areas of Chapter 11 bankruptcy reorganizations, insolvency and distressed business restructuring matters, and commercial litigation involving business and individual clients. He assists businesses restructure debt through loan modifications and lender workouts. He has significant experience representing creditors to maximize recovery in bankruptcy proceedings.
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Mette H. Kurth
Partner
Culhane Meadows Haughian & Walsh
Ms. Kurth focuses on all aspects of financial restructuring, distressed situations, and bankruptcy issues, and uses her... | Read More
Ms. Kurth focuses on all aspects of financial restructuring, distressed situations, and bankruptcy issues, and uses her experience to develop pragmatic and creative solutions to protect her clients' interests. She has represented a variety of creditors' committees, debtors, unsecured creditors, acquirers of bankrupt companies, and trustees both in out-of-court workouts and in federal bankruptcy cases.
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Rafael X. Zahralddin-Aravena
Shareholder
Elliott Greenleaf
Mr. Zahralddin represents clients in all aspects of bankruptcy and restructuring and has deep experience in... | Read More
Mr. Zahralddin represents clients in all aspects of bankruptcy and restructuring and has deep experience in international commercial law issues, including cross-border insolvency. He has also worked for two decades with early stage companies and venture capitalists and private venture funds as both a transactional lawyer and a corporate litigator. Mr. Zahralddin is a business lawyer who works with companies on all aspects of commercial transactions and on compliance. He is a Six Sigma Green Belt and has lectured and trained in-house lawyers and outside law firms in legal project management, lean practices, and Six Sigma application to value-added provision of legal services.
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