Rights Offerings in Bankruptcy
Negotiating and Executing a Deal for Restructuring and Exit Financing
Recording of a 90-minute CLE webinar with Q&A
This CLE webinar will provide bankruptcy counsel with an examination of recent trends in the use of rights offerings as a financing mechanism, review the rights offerings process under the Bankruptcy Code, and discuss debtor and creditor strategies in negotiating and executing a rights offering.
- Trends in use of rights offerings
- Use by senior constituencies to validate plan values
- Use by junior participants to raise capital to payoff senior indebtedness
- Offensive use by market participants to capture share of equity at discount to plan value
- Structuring the rights offering
- Section 1145 requirements
- Planning and execution
- Collateral valuation
- Objections from creditors
- No market test/valuation
- Excessive investor incentives/protections
- Unfair discrimination
The panel will review these and other key questions:
- What are the recent trends in the use of rights offerings for restructuring debtors?
- What are the benefits of a rights offering for the various constituents in a Chapter 11 reorganization?
- What are the best arguments that creditors can make in objecting to a debtor's proposed rights offering?
Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.
Thomas R. Fawkes
Freeborn & Peters
He is an accomplished financial restructuring and bankruptcy attorney, having represented debtors, creditors’... | Read More
He is an accomplished financial restructuring and bankruptcy attorney, having represented debtors, creditors’ committees, Fortune 500 companies, asset purchasers, financial institutions and trustees in complex bankruptcy and restructuring matters nationally and internationally. He has expertise across a wide variety of industries, including automotive, printing, real estate and telecommunications.Close
Michael E. Foreman
Haynes & Boone
Mr. Foreman has more than 20 years of financial restructuring and bankruptcy experience, representing secured and... | Read More
Mr. Foreman has more than 20 years of financial restructuring and bankruptcy experience, representing secured and unsecured lenders and creditors, acquirers of and investors in distressed assets, and reorganizing of financially distressed companies, in many of the nation's largest and most complex restructurings. He also represents lenders, other creditors, investors and companies in out-of-court and cross border restructurings. Mr. Foreman also provides bankruptcy counseling in the areas of structured financing and securitization.Close