Financially Distressed Educational Institutions and Bankruptcy: Options for K-12, Higher Education Institutions
Recording of a 90-minute CLE webinar with Q&A
This CLE course will guide counsel who advise K-12 and higher educational institutions in the financial crisis. The panel will discuss legal issues when dealing with negative cash flow and uncertain economic prospects, including bankruptcy, restructuring, and funding options. The panel will also discuss practical tips for getting lenders and other stakeholders to cooperate fully when hard choices are required.
Outline
- Special issues when closing schools
- Elementary, high school, colleges
- Accreditation
- Record retention and access
- Privacy issues
- Bankruptcy
- Mergers, asset dispositions
- Finding capital
Benefits
The panel will review these and other essential matters:
- Bankruptcy and non-bankruptcy options for distressed schools
- Regulatory and legal obligations unique to educational institutions
- Dealing with the board of directors
- Tactics for obtaining creditor cooperation
Faculty
David Crawford
President
McCormick Theological Seminary
Mr. Crawford is an ordained ruling elder in the Presbyterian Church (USA), and has served on the boards of McCormick,... | Read More
Mr. Crawford is an ordained ruling elder in the Presbyterian Church (USA), and has served on the boards of McCormick, Fourth Presbyterian Church of Chicago, Lifelink Housing Corporation, and has previously served as a Practitioner-in-Residence at the University of Iowa Law School.
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David W. Prager, CFA
Managing Director
Duff & Phelps
Mr. Prager is a managing director in the Disputes Consulting practice of Duff & Phelps. He has over two decades of... | Read More
Mr. Prager is a managing director in the Disputes Consulting practice of Duff & Phelps. He has over two decades of experience as a financial advisor, interim manager, restructuring professional and expert witness. Mr. Prager primarily focuses on restructuring advisory and expert witness assignments for valuations and complex commercial litigation. He has represented both debtors and creditors in high-profile restructurings, including serving in interim executive officer/C-suite positions. Mr. Prager has testified and served as a consulting expert in bankruptcy matters, valuation and solvency disputes and other complex commercial litigation. He recently advised a small liberal arts college struggling with significantly reduced student count resulting in significant operating deficits. Mr. Prager is also working with a New York City private school adapting to the challenges presented by coronavirus. He holds the Chartered Financial Analyst (CFA) designation. Mr. Prager is a member of the CFA Institute, the CFA Society of New York and the American Bankruptcy Institute.
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Jack J. Rose
Member
Rosenberg & Estis
Mr. Rose leads the firm’s Reorganization & Bankruptcy Department. He has three decades of experience in... | Read More
Mr. Rose leads the firm’s Reorganization & Bankruptcy Department. He has three decades of experience in bankruptcy and distressed situations having been actively involved in many of the nation’s largest bankruptcies, representing landlords, tenants, lenders, financial institutions, domestic and foreign banks, acquirers, investors, debtors and creditors. Mr. Rose’s experience with distressed real estate and real estate-owning entities in bankruptcy includes his representation of Olympia and York and VMS NHP in their chapter 11 bankruptcies. Mr. Rose also has significant experience in international and cross-border insolvencies, restructurings and workouts. He is a frequent author and lecturer on bankruptcy law topics.
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Robert S. Rosenfeld, CPA, CFE
Managing Director
RSR Consulting
Mr. Rosenfeld has been a hands-on strategic advisor on financial and operational issues in the corporate restructuring... | Read More
Mr. Rosenfeld has been a hands-on strategic advisor on financial and operational issues in the corporate restructuring field. He has over 33 years’ experience advising and managing publicly held and private companies. Mr. Rosenfeld has restructured and assisted companies both in bankruptcy and out-of-court, assisted in the development and growth of companies, implemented controls, developed and executed strategic business plans and has assumed responsibility for overseeing operations and right-sizing companies’ balance sheets.
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