Mitigating Bankruptcy Risks in Oil & Gas Transactions: Fraudulent Transfers and Preferences

Doing Business With or Buying Assets of Distressed Companies Outside of Bankruptcy

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


Conducted on Wednesday, September 16, 2015

Recorded event now available

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Program Materials

This CLE webinar will provide guidance to counsel in the energy industry on conducting transactions with distressed companies. The panel will discuss the advantages and disadvantages of such transactions and offer best practices for developing a strategy and putting safeguards in place to minimize risk.

Description

The sharp drop in oil and gas prices has left many oil & gas companies facing financial pressure. Buying assets from financially distressed companies is inherently risky. There are advantages to dealing with a distressed oil & gas company outside of bankruptcy, including less scrutiny and a quicker timetable to get the deal done.  

However, there are also risks in transacting outside of bankruptcy proceedings. Those risks include limited ability to cure seller defaults, successor liability issues, and potential fraudulent transfer challenges and unwinding of the agreement.

Companies in the oil & gas industry and their counsel should proceed carefully when doing business with or buying assets of distressed companies to minimize the risk of fraudulent transfer or preferences.

Listen as our authoritative panel of practitioners examines the benefits and pitfalls in oil & gas transactions with distressed companies. The panel will discuss fraudulent transfers and preferences, and offer guidance for developing a due diligence plan and having safeguards in place. The panel will offer best practices for transacting with distressed companies outside of bankruptcy.

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Outline

  1. Oil & gas sale transactions with distressed companies outside of court proceedings
    1. Advantages
    2. Disadvantages
  2. Fraudulent transfers in sale transactions
  3. Preferences
  4. Best practices for transacting with distressed companies outside of bankruptcy

Benefits

The panel will review these and other key issues: 

  • What benefits do companies have when doing a sale transaction with a distressed company prior to bankruptcy?
  • What are the risks of doing business with or transacting outside of bankruptcy court proceedings?
  • What steps can counsel take to minimize the risk of fraudulent transfer in oil & gas transactions with distressed companies?

Faculty

Ira L. Herman
Ira L. Herman

Partner
Thompson & Knight

Mr. Herman concentrates his practice on domestic and cross-border insolvency matters, commercial litigation, and...  |  Read More

Ian T. Peck
Ian T. Peck

Partner
Haynes & Boone

Mr. Peck's practice focuses on bankruptcy, serving as lead counsel in bankruptcy cases. Outside of litigation, he...  |  Read More

Mark Wege
Mark Wege

Partner
King & Spalding

Mr. Wege represents entities in corporate reorganizations, including out-of-court restructurings, and formal...  |  Read More

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