Understanding Enforcement Issues in Bankruptcy Make-Whole Provisions in 2015
Overview:
Inclusion of make-whole claims in a bankruptcy often is a controversy between debtor and creditors. Make-whole premiums, also called yield premiums, protect the right of note-holder to interest payments by prohibiting early re-payment of debt or compensation for lost interest.
Inclusion of make-whole in a bankruptcy claims is often a controversial issue between the debtor and the various creditors and often, make-whole is seen as being un-fair. Make-whole provisions are up-held outside of bankruptcy, but their enforceability in bankruptcy is uncertain with courts focusing upon contractual language and viewing premiums as penalties, liquidated damages, or unmatured interest.
In this a two hour, live CLE webinar, a panel of thought leaders and practitioners assembled by The Knowledge Group will provide bankruptcy and lender counsel and other listeners with a review of bankruptcy case law developments and their implications, a discussion of emerging theories of make-whole provision enforceability in loan agreements under bankruptcy, and procedures for counsel to protect lender's entitlement to make-whole premiums. The speakers will also offer best practices in Understanding Enforcement Issues in Bankruptcy Make-Whole Provisions.
Some of the major topics that will be covered in this course are:
- Overview on Make-Whole Provisions
- Bankruptcy Courts Considerations
- EFH, Momentive, American Airlines & Calpine and Solutia Bankruptcy Cases
- Drafting and Contractual Issues (Maturity Date)
- Policy Arguments and Indentures
- Debtors Vs. Creditors
- Enforceability of Make-Whole Premiums
Agenda:
Peter Kaufman, President and Head of Restructuring and Distressed M&A
Gordian Group LLC
- Overview on Make-Whole Provisions
- American Airlines & Calpine and Solutia Bankruptcy Cases
- Policy Arguments and Indentures
- Debtors Vs. Creditors
Ben Rosenblum, Partner
Jones Day
- Bankruptcy Courts Considerations
- EFH, Momentive,
- Drafting and Contractual Issues (Maturity Date)
- Enforceability of Make-Whole Premiums
Who Should Attend:
- Bankruptcy Lawyers and Practitioners
- Bankruptcy Professionals
- Debtors and Creditors
- Banking and Finance Lawyers
- Corporate Financial Officers
- Finance Executive & Director
- Related Finance Executives
- Other Related/Interested Professionals
Ben Rosenblum represents debtors, creditors, and other parties in interest in court supervised proceedings, out-of-court restructurings, distressed acquisitions, and distressed …
Peter Kaufman is President of Gordian Group and heads the firm’s Restructuring and Distressed M&A practice. He has been ranked …
Course Level:
Intermediate
Advance Preparation:
Print and review course materials
Method of Presentation:
On-demand Webcast (CLE)
Prerequisite:
NONE
Course Code:
145153
NASBA Field of Study:
Specialized Knowledge and Applications
NY Category of CLE Credit:
Skills
Total Credits:
2.0 CLE
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SPEAKERS' FIRMS:
About Jones Day
Jones Day is a global law firm with locations in centers of business and finance throughout the world. Ranked among the world's best and most integrated law firms, and perennially ranked among the best in client service, Jones Day acts as principal outside counsel to, or provides significant legal representation for, more than half of the Fortune Global 500 companies.
For more information about Ben Rosenblum and Jones Day, please visit: https://www.jonesday.com/.
Website: https://www.jonesday.com/
About Gordian Group LLC
Gordian Group, LLC is the leading investment bank in the country specializing in complex and/or stressed/distressed financial advisory work. Gordian is a registered broker-dealer and have been in business since 1988.
Gordian is ranked in the top 10 firms by The Deal in its League Tables, and as individual investment bankers, Peter Kaufman and Henry Owsley have been ranked as high as number 1 recently in The Deal's League Tables. Our lead partners are also the authors of the definitive work in the field, Distressed Investment Banking: To the Abyss and Back, Beard Books LLC, 2005, and the recently published Equity Holders Under Siege: Strategies and Tactics for Distressed Businesses, Beard Books LLC, 2014; both books are “must-read” for boards of directors, management teams and shareholders and/or owners of financially stressed situations, as well as for buyers and professionals.
Website: https://www.gordiangroup.com/