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Ultra Petroleum Aftermath: Make-Whole and No-Call Provisions in Bankruptcy

Gain a better understanding of bankruptcy case law developments and offer best practices for lenders to protect these claims.

Many banks are perplexed by the inconsistent treatment of make-wholes (otherwise known as prepayment premiums) in bankruptcy. Sometimes they are enforced, and sometimes not, for reasons that are difficult to reconcile. This information will help banks and their advisors understand the factors that courts consider when they decide whether to enforce make-wholes in bankruptcy, allowing them to draft better provisions and evaluate the risks associated with existing provisions.

Runtime: 90 minutes
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Why Lorman?

Over 32 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

Anatomy of a Prepayment Premium (Otherwise Known as Make-Wholes)

  • What Is It and Why They Might Be Enforceable
  • How It Works
  • Examples

Prepayment Premiums Under Applicable Nonbankruptcy Law

  • Classifying Them as Interest, Liquidated Damages, or Something Else
  • Enforceability

Arguments Used to Challenge Prepayment Premiums

  • Reasonable Estimate of Actual Damages (or Not)
  • Penalty Rather Than Estimate of Damages

Prepayment Premiums in Bankruptcy

  • State Law and Its Application in Bankruptcy
  • Bankruptcy Provisions Affecting Application of State Law
  • Ultra Petroleum and Its Effect on the Analysis
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Why Lorman?

Over 32 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 course was last revised on October 15, 2019.

Call 1-866-352-9540 for further credit information.

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

Audio & Reference Manual

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

MP3 Download

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

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More Program Information

Why Lorman?

Over 32 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

Brian Hulse

Brian Hulse

Davis Wright Tremaine LLP

  • Partner in the Seattle office of Davis Wright Tremaine LLP
  • Focuses his practice on real estate finance, commercial lending, finance and business transactions, loan workouts, realization proceedings, and bankruptcy
  • Co-chair of the State Law Survey Task Force of the Commercial Finance Committee of the American Bar Association, editor-in-chief of 50-state survey of commercial lending laws and author of Washington chapter; fellow of the American College of Mortgage Attorneys; former member, board of regents; fellow of the American College of Commercial Finance Lawyers; member of the Legal Opinions Committee of the Washington State Bar Association
  • J.D. degree, University of California, Berkeley, School of Law
  • Can be contacted at 206-757-8261 or [email protected]
Hugh McCullough

Hugh McCullough

Davis Wright Tremaine LLP

  • Partner in the Seattle office of Davis Wright Tremaine LLP
  • Advises clients in litigations and transactions involving bankruptcy, the payments industry, and secured financings; regularly helps clients with matters that never reach a courtroom, but in cases requiring litigation, he has argued and won in the Washington Supreme Court, the 9th Circuit Court of Appeals, and federal courts around the country
  • American Bankruptcy Institute; board of directors, Turnaround Management Association, Pacific Northwest chapter; board member, 2016-present; president, board of directors, 2016-2018 – Consumer Education and Training Services (CENTS); Amicus Brief Committee, Washington State Bar Association, 2014-2016
  • J.D. degree, Northwestern University School of Law
  • Can be contacted at 206-757-8189 or [email protected]
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Product ID: 406402
Published 2019
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