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Understanding Corporate Bankruptcies: What Every Nonbankruptcy Professional Should Know About the Chapter 11 Process

The Chapter 11 bankruptcy process is a stage in the life cycle of numerous U.

S. companies both large and small and across many different industries (General Motors, American Airlines, Hostess Brands, Lehman Brothers and Borders, to name just a few recent examples). Most financially healthy companies will have significant business interactions with one or more distressed companies that ultimately file for Chapter 11 protection - business interactions that can have serious adverse consequences for the healthy company. Accordingly, it is important for all business professionals and their legal counsel to have a fundamental understanding of the Chapter 11 bankruptcy process and the core insolvency laws that govern the process. This on-demand webinar will provide an overview of the Chapter 11 bankruptcy process and will answer a number of questions commonly asked by nonbankruptcy professionals and attorneys, such as: "Am I required to continue to do business with the Chapter 11 debtor?", "How will my contract or lease with the Chapter 11 debtor be treated by the bankruptcy court?", "What causes of action could the Chapter 11 debtor or its estate have against me (and what are my defenses)?", and "Can I buy assets from the Chapter 11 debtor (and what is the process for doing so)?" Learning Objectives: •You will be able to review the bankruptcy process. •You will be able to discuss executory contracts and unexpired leases. •You will be able to identify claims against the debtor. •You will be able to explain estate claims and avoidance powers.

Runtime: 94 minutes
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

General Overview of the Bankruptcy Process

  • Bankruptcy Jurisdiction/Powers of the Bankruptcy Court
  • Different Forms of Bankruptcy Relief
  • Participants in a Chapter 11 Case
  • Timeline

The Automatic Stay

  • Description and Effect on Creditors
  • Exceptions to the Automatic Stay

Executory Contracts and Unexpired Leases

  • General Treatment in Bankruptcy
  • Assumption/Assignment or Rejection of Contracts and Leases
  • Special Treatment of Certain Contracts/Leases

Claims Against the Debtor

  • Description of Types of Claims and Relative Priorities
  • Debtor-in-Possession Financing
  • Priority Claims for Goods Under Section 503(b)(9)
  • Process for Filing and Adjudicating Claims

Estate Claims and Avoidance Powers

  • Fraudulent Transfers
  • Preferential Transfers
  • Lien Stripping and Other Powers of the Bankruptcy Estate

Resolution of the Chapter 11 Case

  • Plan of Reorganization
  • 363 Asset Sales
  • Dismissals and Conversions
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

W. Austin Jowers

W. Austin Jowers

King & Spalding

  • Partner in the Financial Restructuring Practice Group in King & Spalding’s Atlanta office
  • Practice encompasses a broad range of bankruptcy matters with a focus on distressed M&A transactions, and representing lenders and agents in connection with commercial workouts and restructurings
  • Has extensive experience representing financial institutions in connection with all aspects of in and out of court restructuring matters
  • In addition, he focuses in representing purchasers and sellers of distressed assets in chapter 11 bankruptcy proceedings
  • Recently, he received the Turnaround Management Association’s Transaction of the Year Award (Large Company) for 2013 in connection with the chapter 11 sale of Cagle’s Inc. and Cagle’s Farms, Inc.
  • Has been selected as a Georgia Rising Star in Bankruptcy by Atlanta Magazine (2011, 2012, 2013)
  • Lectures frequently on bankruptcy issues before bar groups and in continuing legal education programs
  • Law degree, cum laude, Washington & Lee University; bachelor’s degree, cum laude, Rhodes College
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 393130
Published 2014
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