Gain a comprehensive understanding of the lifecycle of a Chapter 11 proceeding and delve into the critical legal intricacies inherent in bankruptcy cases.
This presentation will provide a practical primer on U.S. Bankruptcy Code proceedings. It will walk through the lifecycle of a Chapter 11 proceeding, describe why parties may wish to commence such a proceeding and give an overview of the key legal issues that typically arise in a bankruptcy. This background will be valuable not only for bankruptcy and restructuring practitioners but also for lawyers in a variety of other practice areas. Bankruptcy proceedings can dramatically affect parties’ rights and obligations, and a strong understanding of the Bankruptcy Code can allow practitioners to structure their transactions and organize their litigation strategies in a way that maximizes opportunity and minimizes the risk bankruptcy presents.
Agenda
Overview of Chapter 11
- Types of Voluntary Bankruptcies
- Key Players and Tools
- Key Concepts: Debtor in Possession, Automatic Stay, Dip Financing, Executory Contracts, Asset Sales
Chapter 11 Process
- Pre-Filing Preparations
- First Day Motions
- Claims Resolution Process
- Priority of Claims
- Rights of Secured Creditors
- Chapter 11 Plan
- Requirements for Confirmation
- Emergence From Chapter 11
- Issuance of Securities
Chapter 11 Litigation
- Avoidance-Fraudulent Transfers, Preferences,
- Other Adversary Proceedings and Discovery
- Derivative Standing
Q and A
Speakers
Brandon M. Hammer
Cleary Gottlieb Steen & Hamilton LLP
- Counsel at Cleary Gottlieb
- Practice focuses on a broad range of creditors’ rights, netting, financial regulatory, bankruptcy, digital asset, and market infrastructure issues
- Clients include financial institutions, clearinghouses, sovereigns, and end users. Frequently counsels leading financial market trade associations and ad hoc coalitions on major industry initiatives and industry-standard opinions
- Advised clients regarding close-out netting rights under a variety of different U.S. insolvency regimes, including the Bankruptcy Code, the Federal Deposit Insurance Act, the Securities Investor Protection Act, the New York Banking Law, and the Orderly Liquidation Authority title of the Dodd-Frank Act, and represents clients before federal regulatory agencies and self-regulatory organizations
- Past and current engagements include representing a large investment bank in connection with the default of Archegos Capital Management, advising Goldman Sachs, Morgan Stanley, Nomura, and other financial institutions in connection with the close-out of derivatives, repos, and other financial transactions, and working with Coinbase on structuring its digital asset custody arrangement to facilitate bankruptcy remoteness analyses
Thomas K. Kessler
Cleary Gottlieb Steen & Hamilton LLP
- Partner at Cleary Gottlieb
- Represents debtors, creditors, and other parties in interest in a broad range of restructuring matters, including bankruptcy proceedings, out-of-court restructurings, and bankruptcy-related transactions
- Advised clients in high-profile restructuring matters, finding business-oriented strategies designed to achieve client goals
- Worked with debtors and creditors to navigate complex, multi-billion dollar distressed situations and regularly litigated high-stakes contested matters, adversary proceedings, and other complex civil cases
- Represented Samarco Mineração S.A., Crowne Plaza Times Square, Aeroméxico, Modular Space Corporation, and Overseas Shipholding Group, as well as in several out-of-court restructurings
Who Should Attend
This program is primarily designed for attorneys. Other legal professionals may also benefit from attending.
