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Live Webinar

90-minute live streaming program
  • October 15
  • 1:00 - 2:30 pm EST

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

October 15

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.

Learning Objectives

  • You will be able to define make-wholes and prepayment premiums.
  • You will be able to describe the facts that courts use to decide whether to enforce them.
  • You will be able to identify make-wholes that may not be enforced, and ways to make them more likely to be enforced.
  • You will be able to review agreements including make-wholes and assess whether they are likely to be enforced.

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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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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.

Credits

Live Webinar Registration

  • CPE 1.8 including Specialized Knowledge 1.8
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.8 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Specialized Knowledge for 1.8 hours. Prerequisite: basic knowledge of the banking industry. Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     
  • Lorman Business Center, Inc. is a registered provider for CPA CPE through the State Education Department of New York, Sponsor number: 000640. The following course will carry the subject area of Specialized Knowledge and Applications for 1.5 hours.
     

Who should attend?

This live webinar is designed for presidents, vice presidents, branch managers, loan officers, compliance officers, loan department personnel, accountants, controllers, CFOs, credit and collection managers.

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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.

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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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.

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Product ID: 406402
Published 2019
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