Liquidating Chapter 11 Cases

Formulating Liquidation Plan Strategies and Navigating Implications for Creditors

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


Conducted on Wednesday, July 17, 2013

Recorded event now available

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Program Materials

This CLE webinar will provide bankruptcy counsel with a review of the differences between a Chapter 11 and a Chapter 7 liquidation and between liquidating plan sales vs. Sect. 363 sales. The panel will discuss formulation and approval of liquidation plans, unique issues in Chapter 11 liquidations, and best practices for avoiding pitfalls.

Description

Debtors are increasingly filing for Chapter 11 with little possibility of reorganization, particularly debtors in the retail sector. The Chapter 11 liquidation alternative allows the debtor to operate as debtor-in-possession and sell the business at a higher value than might be realized in Chapter 7.

While Chapter 11 liquidation allows management to continue operating the business while assets are sold, the debtor is faced with increased administrative costs. Eventually the debtor will be forced to either confirm a plan of liquidation or convert the case to a Chapter 7.

Once assets are liquidated, the debtor or creditor’s committee will propose a plan to make distributions to creditors. Debtors considering Chapter 11 liquidation must have a well-crafted exit strategy. Creditor’s committees must take quick action to protect their claims and maximize recovery.

Listen as our authoritative panel of bankruptcy practitioners contrasts Chapter 11 liquidation and Chapter 7 liquidation, discusses the pros and cons of liquidating plan sales vs. Section 363 sales, identifies the unique issues in Chapter 11 liquidation plans, discusses how to formulate a liquidation plan, and provides best practices for avoiding potential pitfalls.

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Outline

  1. Contrast Chapter 11 liquidation and Chapter 7 liquidation
  2. Sales through liquidating plans vs. Section 363 sales
  3. Distribution of unclaimed funds
  4. Formulating a liquidation plan and obtaining approval
  5. Avoiding potential pitfalls

Benefits

The panel will review these and other key questions:

  • What implications flow from the choice of liquidation through Chapter 11 vs. Chapter 7?
  • What are the pros and cons of a Chapter 11 liquidation?
  • Do unsecured creditors fare better in Chapter 11 liquidations and what steps can they take to maximize recovery?
  • What are best practices for distributing unclaimed finds?

Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.

Faculty

Paul A. Avron
Paul A. Avron

Of Counsel
Berger Singerman

He practices primarily in the areas of corporate reorganization, bankruptcy law, creditors' rights and appellate...  |  Read More

Steven B. Smith
Steven B. Smith

Partner
Edwards Wildman Palmer

He focuses his practice on complex corporate restructuring and creditors’ rights, including in court Chapter...  |  Read More

Brent Weisenberg
Brent Weisenberg

Atty
Cooley

He is an attorney in the Firm’s Corporate Restructuring & Bankruptcy practice group and concentrates his...  |  Read More

Other Formats
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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:

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