Business Bankruptcy 101: Chapter 11 Nuts and Bolts (Recorded Package)

What You Will Learn

Part I: Tuesday July 21

Overview:
5 Types of Bankruptcy Cases

Pre-Bankruptcy Considerations & Commencement of Chapter 11

• Critical Issues:
• Identifying the goals and exit strategy (other than conversion) for the Ch.11 case and a realistic business plan for how to get there
• Assessing feasibility and timelines (inkling understanding the debtor’s cash flows and adequacy of accounting systems)
• Anticipating and addressing issues that could derail the restructuring (i.e., a plan built around a contract that cannot be assumed without the counter-party’s consent)
• Managing internal and external communications, determining where and when to file.
  • 7 distinguished (and Chapters 9, 12, 13, 15), preparing schedules
  • Voluntary/involuntary
  • Schedules and Statement of Financial Affairs (SOFA)
  • Employment and fee issues with respect to professionals, how are they paid, etc.
  • Governance during bankruptcy (debtor-in-possession as trustee, fishbowl, appointment of examiner or trustee, conversion, dismissal, etc.)
  • Trustee compliance
  • Service/notice

First day motions

• Individual v. Corporate
  • DIP financing/cash collateral
  • Pre-petition wages
  • Critical vendors
  • Management incentive plans v. retention plans
  • Limiting notice
  • Setting claim bar date, etc.
  • Utility deposits
  • Maintaining bank accounts
  • Joint administration v. substantive consolidation
  • Procedures for 503(b)(9)
  • Ombudsman
  • Professional Retentions

Official and Other Informal Committees

• Types of official and informal committees
  • Creditor
  • FRBP 2019
• Solicitation of committees by counsel
• Formation and role in a case
  • Pre- and post-filing
• Duties of committee members and counsel
• Protection of confidential information
• Internal governance and operation of the committee

Litigation issues

• Automatic Stay
  • Actions by/against debtor
  • Property of estate includes claims belonging to the debtor
  • Void v. voidable
  • Retroactive annulment of stay
  • Application to individuals, etc.
  • Procedure – venue/forum
    • Core/non-core
    • Contested matters/adversary proceedings
    • Removal
    • Remand and abstention, etc.
  • Executing Contracts, Unexpired Leases, Landlord-Tenant
  • Claims and Claims Objections
    • Claims against creditors & others
      • Non-BK claims
        • Contracts, torts, post-petition claims, etc.
        • Can trustee assert alter-ego and derivative claims?
      • Claims by creditors
        • Classification
          • Secured
          • Priority
          • Insecured
        • Special types of claims landlords (502(b)(6))
        • 20-day vendors of goods (503(b)(9))
        • Whether vendor can be paid and also use goods as “new value” for 547(c)
        • Whether 502(d) applies to 503(b)(9)
        • Rejection damage claims, etc.

Part II:  Thursday, July 23rd

Litigation issues (continued)

• Avoiding Adversary Proceedings
  • Avoidance actions
    • Strong-arm powers
    • Preferences
    • Fraudulent transfers, etc.

Sales

• Sales of substantially all assets
• Section 363 v. Plan
• Sales free and clear of liens
• Sales process
• Practice pointers – risks and benefits
• Executory Contracts and Leases:
  • Cure, assume, assign

Chapter 11 plan formulation and confirmation

• Types of Plans
• Disclosure Statement Requirements
• Plan Feasibility
• Absolute Priority Rule
• The Confirmation Hearing
• Classification & voting
• Cramdown
• Competing plans/exclusivity
• Plan injunctions in favor of non-debtors
• Effect of discharge and re-vesting of property upon confirmation

Individual debtors in chapter 11 cases

• Absolute priority rule
• Key differences from chapters 7 and 13

Single Asset Real Estate

Small Business Cases

SBRA

Testimonials

“Excellent presentations. Interesting topics. Great intro to bankruptcy.” – Christopher Murray, Esq.

“Great program.” – Jeffrey Unap, Esq.

“I thoroughly enjoyed learning about this new field.” – Nicole M Paredes-Kennedy, Esq.

“Very Satisfied.” – Lisa M. Lucena, Esq.

“Great class.” – Jose Vinicius Bicalho Costa Jr., Esq.

“David Samole was excellent! This is very helpful, specific information I can use in my practice.”  – Lenard Wittlake, Esq.

“Good range of topics and none of the presentations went beyond the basics of this specialized practice which is good.” – Christopher Murray, Esq.

“The program was very good and helpful. Very satisfied because I am adding bankruptcy as an area of practice.”

“Generally, very good. I used to represent creditors in bankruptcy matters and wanted an update / refresher. This was helpful.”

“Excellent quality and content, presenters have been great. Very satisfied. Excellent refresher of basic (and common) bankruptcy issues.”

“All of the speakers were great!  The speakers explained each topic in a way that was easy to follow and interesting to listen.  I enjoyed the sections with two speakers.  It did not seem like I was learning, more like I was listening to a conversation between two colleagues.  The PowerPoints contained important statutes — which was concise. The handout materials are great!  Thank You!”

“Excellent quality and content, presenters have been great. Very satisfied. Excellent refresher of basic (and common) bankruptcy issues.”

“Presentation was very good and informative.”

“Gave great examples.”

“Lots of good information and good outline to refer to after and descriptions on why it was needed.”

“The last speaker was fantastic.”

“Thought the presenters were knowledgeable and good speakers–especially enjoyed the last presenter.”

“The program was great. A lot of good information.”

“Very informative.”

“Today was helpful.”

“Very comprehensive on complex topics.”

“Really good.”

“Great program.”

“Very good; moves fast; informative; good handouts.”

“Nice to have practical advice on retainers and client red flags.”

“The last speaker was fantastic.”

“Thought the presenters were knowledgeable and good speakers–especially enjoyed the last presenter.”

“Presentation was very good and informative.”

“Gave great examples.”

“The program was great. A lot of good information.”

“Very informative.”

“Today was helpful.”

“Very comprehensive on complex topics.”

“Really good.”

“Great program.”

Faculty

Jeffrey P. Bast, Esq.
Partner
Bast Amron Attorneys

Jeffrey Bast’s practice focuses on bankruptcy and insolvency, emphasizing corporate reorganization, restructuring, creditors’ rights, workouts, and commercial litigation in several industries, including real estate, retail, healthcare, telecommunications, internet and technology, hotels, textiles, transportation, franchise operations, travel, aviation, manufacturing, and financial institutions.

Jeff also provides insolvency-related advice and has extensive experience with all aspects of bankruptcy litigation, appeals and legal opinions for complex transactions.

He now represents corporate debtors, shareholders, trustees, receivers, indenture trustees and creditors’ committees, as well as financial institutions and other secured and unsecured creditors in complex workouts, reorganizations and liquidations.

Allison R. Day, Esq.
Partner
Genovese Joblove & Battista

Allison R. Day, a shareholder of Genovese Joblove & Battista, P.A., specializes in all areas of bankruptcy, business reorganization, and creditors’ rights. Ms. Day has handled numerous Chapter 11 reorganizations and liquidations on behalf of debtors, creditors, creditor committees and trustees. Additionally, she has represented debtors, trustees and creditors in bankruptcies under Chapters 7 and 13 including the former Standing Chapter 13 Trustee for the Southern District of Florida. She also specializes in the representation of both assignors, assignees and creditors in assignment for the benefit of creditors’ proceedings and receivers in both State and District Courts receivership proceedings.

Ms. Day is "AV" rated by Martindale-Hubbell. She is listed in Woodward/White’s The Best Lawyers in America, has also been named as one of Florida’s Top 50 Female attorneys and a Super Lawyer by Florida Super Lawyers magazine, and has been honored as one of South Florida’s top lawyers by South Florida Legal Guide and Florida Trend magazine. Additionally, Ms. Day is the immediate past Chair of the Florida Network of the International Women’s Insolvency and Restructuring Confederation (IWIRC) and is a Past President of the Bankruptcy Bar Association of the Southern District of Florida.

Ms. Day currently serves as an adjunct professor at the University of Miami School of Law and formerly taught at Barry University. She has lectured for the American Bankruptcy Institute, National Business Institute, Lorman Education Services, Put Something Back of Miami-Dade County, the Florida Bar, and the Bankruptcy Bar Association for the Southern District of Florida. Ms. Day is also a member of the Commercial Law League of America, the American Bankruptcy Institute and American Bar Association. In addition, she received the 2007 "Put Something Back" Pro Bono "Bankruptcy" Award for providing outstanding pro bono legal services or free legal assistance to the needy population of Miami-Dade County.

Ms. Day is a member of the Florida Bar and is admitted to practice before the United States Supreme Court, the United States Court of Appeals for the Eleventh Circuit and the United States District Courts for the Middle and Southern District of Florida. She earned her Juris Doctor in 1984 from the University of Missouri – Kansas City School of Law and her Bachelor of Arts in both Political Science and History from the University of Colorado at Boulder in 1981.

Steven R. Fox, Esq.
Principal
The Fox Law Corporation, Inc.

Steven R. Fox heads a small firm in Encino, California where he limits his practice to representing debtors and creditors in bankruptcy. Mr. Fox is noted for his use of chapter 11 to reorganize small and medium businesses.

Mr. Fox received his bachelor’s degree from the University of California and his J.D. degree from Loyola Marymount University School of Law. He clerked for the Honorable Richard Stair, United States Bankruptcy Judge, Eastern District of Tennessee.

Mr. Fox is a member of the State Bar of California, the American Bankruptcy Institute, the Los Angeles Bankruptcy Forum, the National Association of Consumer Bankruptcy Attorneys and the San Fernando Valley Bar Association (former trustee). Mr. Fox frequently speaks and writes on bankruptcy topics. Mr. Fox is one of the founders of the Central District Consumer Bankruptcy Attorneys Association.

Stella Havkin, Esq.
Partner
Havkin & Shrago

Stella Havkin, received her B.A. from York University in Toronto, Canada with a focus on Psychology and Political Science in 1984. She was awarded her degree with the honor of Magna Cum Laude. While at York University, Ms. Havkin was on Dean’s List and Dean’s Honor Roll, 1980-1984. She was a member of the Vingt-Deux Club (the top twenty-two graduating students). While at York University, Ms. Havkin worked for the Canadian Armed Forces where she conducted statistical analyses and authored an article which was published in a NATO publication on attrition of women in the military.

Ms. Havkin received her J.D. from University of California, Hastings College of Law in May, 1987. While at Hastings, she was a Member of Hastings International and Comparative Law Review from 1985-1986, Associate Note Editor, 1986-1987 and the author of the Note, "The Foreign Sovereign Immunities Act: The Relationship Between the Commercial Activity Exception and the Noncommercial Tort Exception in Light of De Sanchez v. Banco Central de Nicaragua", published in Volume 10:2, September, 1987 which was selected for publication on Westlaw. Also, while at Hastings, Ms. Havkin served as a judicial extern to the Honorable Justice M.O. Sabraw – California Court of Appeal, First District, Fourth Division.

Ms. Havkin has been a member of the California State Bar since 1988. She is admitted to practice before the all the Courts in California, the Ninth Circuit of Appeals, the Fifth Circuit of Appeals, the Federal District Courts in California and in Austin, Texas.

Ms. Havkin is a Certified Bankruptcy Specialist certified by the State Bar of California Board of Legal Specialization and a Certified Consumer Bankruptcy Law Specialist certified by the American Board of Certification.

She has been a partner at the firm of Litwak and Havkin from 1998 through end of July, 2012. Since August, 2012, she has been a partner with Havkin & Shrago.

Ms. Havkin is editor of the Central District of California Consumer Bankruptcy Attorneys Association Newsletter and is on the Board of the same organization.

Stella was named as 2013 and 2014 Super Lawyer in the Super Lawyer Magazine in the field of Consumer Bankruptcy Law.

Ms. Havkin is a commissioner with the State Bar of California Bankruptcy Legal Specialization Board.

Roksana D. Moradi-Brovia, Esq.
Partner and Certified Legal Specialist in Bankruptcy Law
Resnik Hayes Moradi LLP

Roksana D. Moradi-Brovia has dedicated her legal career to representation of both individuals and businesses navigating through Chapter 7 and Chapter 11, and litigation arising in the bankruptcy context.

She has successfully confirmed 72 Chapter 11 Plans of Reorganization for both individuals and businesses, assisting her clients through the “rehabilitation” process at each step of the way. Recent Chapter 11 cases include representing a couple with 19 income producing real properties, a small trucking company, a jewelry store, a dental practice, and an LLC which owns a 13 unit commercial building.

Ms. Moradi-Brovia was nominated as a Super Lawyers Rising Star in 2014, 2015, 2016, 2017, and 2018.

Ms. Moradi-Brovia is the Chair of the Commercial Law and Bankruptcy Section of the Los Angeles County Bar Association (“LACBA”), previously holding the positions of Programs Chair, Secretary and Vice Chair. She acted as Chair of the Debtor Assistance Project/Pro Bono Sub-Committee of the Bankruptcy/Commercial Law Section of LACBA from 2013 through 2017. Ms. Moradi-Brovia was the LACBA representative for the U.S. Bankruptcy Court for the Central District of California’s Bar Advisory Board for year 2017.

She is the 2018 President of the Central District Consumer Bankruptcy Attorneys Association (“cdcbaa”) and has been on the Board of Directors and the Programs Chair of the cdcbaa since 2013.

In 2014, Ms. Moradi-Brovia was selected by the U.S. Bankruptcy Court for the Central District of California’s Bar Rules Advisory Group as the Working Group Chair of the “Disclosure Statement in Support of Chapter 11 Plan of Reorganization,” “Cash Collateral Motion,” and “Budget Motion” committees working to revise the current versions of those Chapter 11 Individual Debtor forms.

David A. Samole, Esq.
Partner
Kozyak Tropin & Throckmorton

David Samole is a partner at Kozyak Tropin & Throckmorton. He focuses his practice on corporate bankruptcy and insolvency-related litigation matters, representing parties in corporate reorganization, liquidation, workouts and financially distressed transactions. David’s experience includes representing corporate debtors, creditors, committees, trustees and related parties in contested Chapter 11 proceedings, including principals, guarantors and Section 363 asset purchasers in the real estate, hospitality, retail, aviation, banking, healthcare, maritime, and construction industries, as well as in cross-border insolvencies.

David also handles many of the firm’s more complex trustee matters, including in the bank holding and Ponzi scheme litigation contexts, in addition to the firm’s clients facing potential exposure for avoidable transfers under the Bankruptcy Code.  David frequently represents commercial landlords and other corporate entities in bankruptcy proceedings and insolvency-related litigation throughout the country.  His practice includes bankruptcy appeals.  

David is an avid sports fan.  He enjoys running on a daily basis and is often present at home games for the Miami Heat.  He lives in Miami with his wife, Brigid, who is an attorney and their two children.

Fees

If you purchase both this course and our Chapter 7 & 13 program, you can take an extra 10% off with the code BK2020

CLE Credit

This program is available for both Self-Study and Participatory CLE.*

CA:  This program is approved for 6.0 units of CLE in California.

FL: This program is approved for 7.0 general and 7.0 Business Litigation CLE in Florida through 1/31/2022.

IL:  This program is approved for 6.0 units of CLE in Illinois through 7/20/2022.

WA: This program is approved for 6.0 units of CLE in Washington through 7/20/2022.

New York: This program is eligible for credit in New York under New York’s CLE Approved Jurisdiction policy, for 6.0 CLE units. Pincus Professional Education is a CA Accredited Provider, which is a NY approved jurisdiction. See Section 6 of the New York State CLE Board Regulations and Guidelines for further information.

This program is approved for CLE in the states listed above.  Upon request, Pincus Pro Ed will provide any information an attorney needs to support their application for CLE approval in other states other than what is listed above. Many attorneys ask for this and are approved in other states.

Terms and Policies

Recording policy: No audio or video recording of any program is permitted.

Seminar Cancellations: Should you be unable to attend for any reason, please inform us in writing no later than 14 days prior to the event and a credit voucher will be issued. If you prefer, a refund, less a $50 non-refundable deposit, will be issued. No refunds or credits will be given for cancellations received within 14 days of an event. However, if you notify us within 14 days of an event, and wish to convert your in-person attendance registration to an Audio CD package (with handout), we can do so. A small additional shipping charge, and sales tax in CA, will be incurred. No shipping charge is incurred for downloads. We will also issue a voucher for the amount paid if you notify us within 14 days and prefer not to have the audio recording.

Substitutions may be made at any time.

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