Enforceability of Intercreditor Agreements in Bankruptcy: Maximizing Recovery for First and Second Lienholders

A live 90-minute premium CLE webinar with interactive Q&A


Thursday, August 27, 2020

1:00pm-2:30pm EDT, 10:00am-11:30am PDT

Early Registration Discount Deadline, Friday, July 31, 2020

or call 1-800-926-7926

This CLE webinar will guide commercial finance counsel in drafting intercreditor agreements, and those seeking to enforce or resist enforcement of intercreditor agreements during bankruptcy proceedings. The panel will discuss ways that first lien and second lien lenders can best protect their economic interests in the event of bankruptcy.

Description

Bankruptcy courts must often resolve issues regarding the enforceability of intercreditor agreements between first and second lien lenders. An intercreditor agreement executed by first and second lien lenders who have separate credit agreements with the borrower is quite typical.

Section 510 of the Bankruptcy Code states that subordination agreements are enforceable in bankruptcy cases just as they are under non-bankruptcy law. Over the years, case law has evolved regarding the enforceability of provisions that restrict what some courts believe are fundamental bankruptcy rights.

Listen as experienced finance and bankruptcy attorneys discuss the forms of intercreditor agreements, current case law on the enforceability of intercreditor agreements in bankruptcy proceedings, and how first lien and second lien lenders can protect their economic interests in the event of bankruptcy.

READ MORE

Outline

  1. Recent case law on the enforceability of intercreditor agreements in bankruptcy proceedings
    1. Cases holding that an intercreditor agreement cannot waive a second lien lender's fundamental bankruptcy rights
    2. Cases holding that an intercreditor agreement may waive statutory bankruptcy rights if enforceable as a matter of applicable state law
  2. Best practices when drafting and negotiating intercreditor agreements to protect lender interests, including discussion of forms of intercreditor agreements currently being used in the market

Benefits

The panel will review these and other relevant issues:

  • What are the lessons for lenders' counsel from recent bankruptcy case law regarding intercreditor agreements?
  • Which intercreditor provisions require special attention as to enforceability in bankruptcy?
  • How can senior and subordinate lenders best protect their interests in bankruptcy?

Faculty

Anderson, Eric
Eric W. Anderson

Partner
Parker Hudson Rainer & Dobbs

Mr. Anderson concentrates his practice in bankruptcy, workouts, financial restructuring and commercial finance. He...  |  Read More

Currey, Kathleen
Kathleen O. Currey

Partner
Parker Hudson Rainer & Dobbs

Ms. Currey represents financial institutions and borrowers in secured lending and financial restructuring matters. She...  |  Read More

Live Webinar

Buy Live Webinar
Includes Early Discount Savings of $50 (through 07/31/20)

Live Webinar

$297

Buy Live Webinar & Recording
Includes special savings of $300 (through 07/31/20)

Live Webinar & Download

$394

Live Webinar & DVD

$394 + $24.45 S&H

Other Formats
— Anytime, Anywhere

Includes Early Discount Savings of $50 (through 07/31/20)

Strafford will process CLE credit for one person on each recording. All formats include program handouts. To find out which recorded format will provide the best CLE option, select your state:

CLE On-Demand Video

48 hours after event

$297

Download

48 hours after event

$297

DVD

10 business days after event

$297 + $24.45 S&H