LBO Transactions in Bankruptcy: Fraudulent Transfer Issues for Lenders, Equity Purchasers, Shareholders

Continued Impact of Lyondell and Tribune

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


Thursday, May 31, 2018

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

Early Registration Discount Deadline, Friday, May 4, 2018

or call 1-800-926-7926

This CLE webinar will update practitioners on the latest challenges to leveraged buyout (LBO) transactions in bankruptcy. The panel will explain the implications of particular deal structures, review underlying legal theories of creditor challenges, and outline best practices for mitigating risk or maximizing recovery.

Description

As many of the leveraged buyout transactions in recent years headed into bankruptcy, creditors aggressively attacked those deals, bringing fraudulent transfer claims against lenders, equity purchasers and shareholders.

The Lyondell case, one of the most significant leveraged buyout/fraudulent transfer cases to date, involved some novel and complex issues. Sellers and equity firms in LBOs must carefully consider the effect of buyouts on the target company’s creditors. The Tribune bankruptcy case set a precedent on leveraged buyouts and the protections afforded shareholders who sell stock from an LBO deal. The court rejected a Section 546(e) settlement payment safe harbor as a defense in the McMenamin's Grill case.

Listen as our authoritative panel of bankruptcy attorneys discusses recent trends in fraudulent transfer challenges to LBO transactions and different approaches to mitigate risk of, or maximize recovery in, an avoidance action.

READ MORE

Outline

  1. Avoidance actions: standards in the LBO context
    1. Reasonably equivalent value
    2. Insolvency or unreasonably small capital
    3. Collapsing loan transactions
    4. Section 546(e) settlement payments
  2. Recent LBO/fraudulent transfer litigation
    1. Lyondell
    2. Tribune Co.
    3. Extended Stay
    4. McMenamin's Grill
    5. TOUSA

Benefits

The panel will review these and other crucial issues:

  • What factors are critical in courts’ analysis of whether an LBO is avoidable in bankruptcy?
  • What LBO structures are being implicated by creditor challenges?
  • What are the limitations on protections for shareholders in LBO deals?
  • What steps can sellers and PE firms take to mitigate avoidance risks?

Faculty

Baer, Henry
Henry P. Baer, Jr.

Partner
Finn Dixon & Herling

His practice focuses on complex financial transactions involving distressed assets. He has significant experience...  |  Read More

Bonsall, Lisa
Lisa S. Bonsall

Partner
McCarter & English

She practices in diverse areas of litigation, focusing on commercial litigation and bankruptcy. She represents secured...  |  Read More

Live Webinar

Buy Live Webinar
Includes Early Discount Savings of $50 (through 05/04/18)

Live Webinar

$247

Buy Live Webinar & Recording
Includes special savings of $250 (through 05/04/18)

Live Webinar & Download

$344

Live Webinar & DVD

$344 + $9.45 S&H

Other Formats
— Anytime, Anywhere

Includes Early Discount Savings of $50 (through 05/04/18)

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

$247

Download

48 hours after event

$247

DVD

10 business days after event

$247 + $9.45 S&H