HomeWebcastLiquidating Trusts & Post Confirmation Issues in Bankruptcies: What Lies Ahead
Online CLE Post Confirmation CLE

Liquidating Trusts & Post Confirmation Issues in Bankruptcies: What Lies Ahead

Live Webcast Date: Thursday, July 12, 2018 from 12:00 pm to 2:00 pm (ET)
CLE Bankruptcy LawRecording

Online CLE Post Confirmation

Join us for this Knowledge Group Online CLE Post Confirmation Webinar. Post-confirmation liquidation and litigation trusts are tools used to resolve certain claims and issues in a Chapter 11 case. These trusts allowed debtors to immediately emerge from bankruptcy. Methods in handling large-scale litigation matters and claims resolution process were also made possible by these trusts. However, to maximize the benefits of post-confirmation liquidation and litigation trusts, organizations are required to have a well-drafted reorganization plan and corresponding trust agreement that carefully identifies the claims and interests being retained and deposited into the trust.

Listen as a panel of distinguished professionals and thought leaders organized by The Knowledge Group provide the audience with an overview of Post-Confirmation Liquidation and Litigation Trusts in business bankruptcies. Speakers, among other things, will offer helpful insights on the fundamental framework as well as significant updates and developments surrounding this significant topic. To avoid jurisdictional issues arising from post-confirmation litigation and liquidation trusts, the speakers will also provide best practices and practical tips for businesses to consider when engaging in a post-confirmation liquidation and litigation trust.

Key topics include:

  • Post-Confirmation Liquidation & Litigation Trusts in the 2018 Landscape
  • Trust Agreements: Scope, Coverage and Limitations
  • Identifying the Best Mechanism
  • Identifying the Best Mechanism
  • Funding and Financing of Trust
  • The Jurisdiction to Assist the Trust During Post-Confirmation
  • Significant Court Decisions
  • What Lies Ahead

Agenda

Robert Michaelson, Attorney
Rich Michaelson Magaliff, LLP

Cathy L. Reece, Director
Fennemore Craig, P.C.

Emily Slater, Managing Director
Burford Capital

  • Background, evolution, structure and role of Liquidating Trusts in Business Bankruptcies
  • Benefits and types of Liquidating Trusts and Similar Entities
  • Selection of Trustees and Advisory or Governing Trust Boards
  • Powers , Duties and Potential Liability of Liquidating Trustees and Boards
  • Drafting Tips for Trust Documents and Confirmation Documents
  • Court Oversight of Liquidating Trusts Post Confirmation
  • Identification and Transfer of Assets into Trust and Importance of Creation of Liquidity
  • Litigation Issues, including Concepts of Standing
  • Third Party Financing of Trust’s or Similar Entities’ Litigation
  • Trends and Developments in Law concerning Liquidating Trusts

Who Should Attend

  • Bankruptcy Lawyers and Practitioners
  • Bankruptcy Professionals
  • Litigation and Liquidation Officers
  • Legal Counsel
  • Other Related/Interested Professionals

Online CLE Post Confirmation

Robert Michaelson, Attorney
Rich Michaelson Magaliff, LLP

Cathy L. Reece, Director
Fennemore Craig, P.C.

Emily Slater, Managing Director
Burford Capital

  • Background, evolution, structure and role of Liquidating Trusts in Business Bankruptcies
  • Benefits and types of Liquidating Trusts and Similar Entities
  • Selection of Trustees and Advisory or Governing Trust Boards
  • Powers , Duties and Potential Liability of Liquidating Trustees and Boards
  • Drafting Tips for Trust Documents and Confirmation Documents
  • Court Oversight of Liquidating Trusts Post Confirmation
  • Identification and Transfer of Assets into Trust and Importance of Creation of Liquidity
  • Litigation Issues, including Concepts of Standing
  • Third Party Financing of Trust’s or Similar Entities’ Litigation
  • Trends and Developments in Law concerning Liquidating Trusts

Online CLE Post Confirmation

Online CLE Post Confirmation

Robert MichaelsonAttorneyRich Michaelson Magaliff, LLP

I have more than 35 years of experience as a bankruptcy, creditors' rights and restructuring attorney. My practice includes general commercial litigation in both the state and federal courts as well as corporate matters. Over my career I have had significant involvement in some of the largest and most complex bankruptcy proceedings in the United States representing debtors, creditors, trustees and creditors' committees. My clients include Fortune 500 companies as well as small and medium sized businesses and individuals.

In addition, I have served as and actively serve as a post-confirmation litigation trustee. I was the trustee in In re Appleseed’s Intermediate Holdings, Inc. in the District of Delaware where, through my direct efforts, an estate that initially appeared to be insolvent yielded a dividend to unsecured creditors of approximately 40%. I am presently the post-confirmation litigation trustee in In re International Shipholding Corporation in the Southern District of New York and In re Federation Employment and Guidance Service, Inc. in the Eastern District of New York.

I began my career as the law clerk to the late Honorable Conrad B. Duberstein, Chief Judge of the United States Bankruptcy Court for the Eastern District of New York and later became a partner with a prestigious Am Law 100 law firm. More recently, I formed Rich Michaelson Magaliff, LLP with longstanding professional colleagues who share my passion for providing practical advice and superior representation at rates that are notably lower than those charged by the so-called “big firms”. In just its first year of operation, the firm was recognized in the annual U.S. News - Best Lawyers survey as one the best bankruptcy and creditors rights firms in the United States, large or small.

I am the author of numerous articles and have lectured on a number of bankruptcy and related topics and enjoy a peer rating of AV from Martin-Hubbell, the highest ranking for legal skill and professional ethics.

Online CLE Post Confirmation

Cathy L. ReeceDirectorFennemore Craig, P.C.

CATHY L. REECE is the chair of the Financial Restructuring, Bankruptcy and Creditors’ Rights Practice Group at Fennemore Craig, PC. She has extensive experience in every aspect of corporate workouts and bankruptcies and works with clients structuring complex transactions and purchasing distressed debt or assets. Ms. Reece has been selected as One of the Top 250 Women Litigators in the US by Benchmark for several years, as the 2014 Legal Advisor of the Year by the M&A Advisor,  for the 2011 Outstanding Individual Contribution Award by the International Turnaround Management Association, and as One of the Most Influential Business Women in Arizona in 2016, in addition to being listed for several years in Best Lawyers and Super Lawyers. She received numerous turnaround and transactional awards for her work on the cross border chapter 15  sale of the Veris Gold US gold mines to her client Whitebox Advisors which was the post-petition lender and the buyer, including the M&A Advisor international and turnaround awards for cross border restructuring deal up to $100 million and the mining deal of the year, among others. Ms. Reece has been actively involved in the International Turnaround Management Association, including serving as a Board member and in  International Vice President positions, and is a member of and serves on the Board of Regents for the American College of Commercial Finance Lawyers.  She has been involved in many complex bankruptcy cases in the  Southwest. Some of her more representative cases include representing the Investors’ Committee and then the liquidating entity that is managing and selling the $900 million loan portfolio of a hard money lender. She represented the Unsecured Committee in the Arizona Baptist Foundation bankruptcy and confirmed a joint plan that liquidated the assets of the 140 debtor entities. She represented secured lender Textron Financial in confirming and implementing the joint plan of the ILX time share bankruptcy case that liquidated the assets and causes of action. In the Arizona Coyotes hockey bankruptcy cases, she represented the City of Glendale which owns the arena where the hockey team played.

Online CLE Post Confirmation

Emily SlaterManaging DirectorBurford Capital

Emily Slater is a Managing Director of Burford’s underwriting and investment arm in New York.

Prior to joining Burford, Ms. Slater was a litigator at Debevoise & Plimpton LLP, where she specialized in complex securities and other bet-the-company litigation and regulatory investigations involving billions in damages. Ms. Slater regularly represented financial institutions and public companies before the SEC and DOJ. She also represented the City of New York in the criminal investigation of the 2003 Staten Island Ferry crash and led a landmark pro bono class action litigation regarding mental health treatment in New York City jails, which prevailed in the New York State Court of Appeals.

Ms. Slater graduated from New York University School of Law, where she was the Colloquium Editor of the Review of Law and Social Change. She is a founding member of the Pro Bono Advisory Council of New York Lawyers for the Public Interest and served as a trustee of Brooklyn Heights Montessori School.

Online CLE Post Confirmation

Course Level:
   Intermediate

Advance Preparation:
   Print and review course materials

Method Of Presentation:
   On-demand Webcast

Prerequisite:
   Basic Knowledge in Bankruptcy Law

Course Code:
   147042

NY Category of CLE Credit:
   Areas of Professional Practice

Total Credits:
    2.0 CLE

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About the Knowledge Group

The Knowledge Group

The Knowledge Group has been a leading global provider of Continuing Education (CLE, CPE) for over 13 Years. We produce over 450 LIVE webcasts annually and have a catalog of over 4,000 on-demand courses.

About the Knowledge Group

The Knowledge Group

The Knowledge Group has been a leading global provider of Continuing Education (CLE, CPE) for over 13 Years. We produce over 450 LIVE webcasts annually and have a catalog of over 4,000 on-demand courses.

Rich Michaelson Magaliff Moser, LLP,  located in New York City,  focuses on various aspects of commercial law, with specific concentrations that include commercial litigation and transactions, financial restructuring and bankruptcy, asset-based lending and equipment leasing.  Its clients include corporate and other business entities, lenders, asset acquirers, investors, creditors, trustees and board members. It also serves as outsourced general counsel for companies in diverse sectors and works collaboratively with other law firms.

Website: https://www.r3mlaw.com/

FENNEMORE CRAIG, P.C., a 130 year old full-service business law firm with offices in Arizona, Colorado and Nevada, has one of the largest and most active Financial Restructuring, Bankruptcy and Creditors’ Rights Practice Groups in the Southwestern states, representing clients nationally, regionally and locally. The firm represents a diverse group of clients, including secured lenders, unsecured creditors, financial institutions, bankruptcy committees, debtors, bankruptcy trustees, indenture trustees and purchasers of distressed debt and assets, in just about all industries, including commercial real estate, homebuilders, developers, healthcare, hospitals, mining, hospitality, apartments and student housing, convenience stores, petroleum marketers, utilities,  manufacturing, industrial, municipalities, restaurants, grocery stores, retail,  non-profits, oil and gas, and other businesses. These representations occur in state and federal court proceedings, chapter 11 cases, debt restructuring, liquidation cases, out-of-court workouts, asset recovery, foreclosure actions, receiverships and other insolvency proceedings.  Together with attorneys from other disciplines in the firm, the Financial Restructuring, Bankruptcy and Creditors’ Rights Practice Group plans and negotiates complex workouts, restructures and purchases of debt or distressed assets.

Website: https://www.fclaw.com/

Burford Capital is a leading global finance and investment management firm focused on law. Its businesses include litigation finance and risk management, asset recovery and a wide range of legal finance and advisory activities. Burford is publicly traded on the London Stock Exchange, and it works with law firms and clients around the world from its principal offices in New York, London, Chicago and Singapore. For more information about Burford: www.burfordcapital.com.

Website: https://www.burfordcapital.com

I have more than 35 years of experience as a bankruptcy, creditors' rights and restructuring attorney. My practice includes general commercial litigation in both the state and federal courts as well as corporate matters. Over my career I have had significant involvement in some of the largest and most complex bankruptcy proceedings in the United States representing debtors, creditors, trustees and creditors' committees. My clients include Fortune 500 companies as well as small and medium sized businesses and individuals.

In addition, I have served as and actively serve as a post-confirmation litigation trustee. I was the trustee in In re Appleseed’s Intermediate Holdings, Inc. in the District of Delaware where, through my direct efforts, an estate that initially appeared to be insolvent yielded a dividend to unsecured creditors of approximately 40%. I am presently the post-confirmation litigation trustee in In re International Shipholding Corporation in the Southern District of New York and In re Federation Employment and Guidance Service, Inc. in the Eastern District of New York.

I began my career as the law clerk to the late Honorable Conrad B. Duberstein, Chief Judge of the United States Bankruptcy Court for the Eastern District of New York and later became a partner with a prestigious Am Law 100 law firm. More recently, I formed Rich Michaelson Magaliff, LLP with longstanding professional colleagues who share my passion for providing practical advice and superior representation at rates that are notably lower than those charged by the so-called “big firms”. In just its first year of operation, the firm was recognized in the annual U.S. News - Best Lawyers survey as one the best bankruptcy and creditors rights firms in the United States, large or small.

I am the author of numerous articles and have lectured on a number of bankruptcy and related topics and enjoy a peer rating of AV from Martin-Hubbell, the highest ranking for legal skill and professional ethics.

CATHY L. REECE is the chair of the Financial Restructuring, Bankruptcy and Creditors’ Rights Practice Group at Fennemore Craig, PC. She has extensive experience in every aspect of corporate workouts and bankruptcies and works with clients structuring complex transactions and purchasing distressed debt or assets. Ms. Reece has been selected as One of the Top 250 Women Litigators in the US by Benchmark for several years, as the 2014 Legal Advisor of the Year by the M&A Advisor,  for the 2011 Outstanding Individual Contribution Award by the International Turnaround Management Association, and as One of the Most Influential Business Women in Arizona in 2016, in addition to being listed for several years in Best Lawyers and Super Lawyers. She received numerous turnaround and transactional awards for her work on the cross border chapter 15  sale of the Veris Gold US gold mines to her client Whitebox Advisors which was the post-petition lender and the buyer, including the M&A Advisor international and turnaround awards for cross border restructuring deal up to $100 million and the mining deal of the year, among others. Ms. Reece has been actively involved in the International Turnaround Management Association, including serving as a Board member and in  International Vice President positions, and is a member of and serves on the Board of Regents for the American College of Commercial Finance Lawyers.  She has been involved in many complex bankruptcy cases in the  Southwest. Some of her more representative cases include representing the Investors’ Committee and then the liquidating entity that is managing and selling the $900 million loan portfolio of a hard money lender. She represented the Unsecured Committee in the Arizona Baptist Foundation bankruptcy and confirmed a joint plan that liquidated the assets of the 140 debtor entities. She represented secured lender Textron Financial in confirming and implementing the joint plan of the ILX time share bankruptcy case that liquidated the assets and causes of action. In the Arizona Coyotes hockey bankruptcy cases, she represented the City of Glendale which owns the arena where the hockey team played.

Emily Slater is a Managing Director of Burford’s underwriting and investment arm in New York.

Prior to joining Burford, Ms. Slater was a litigator at Debevoise & Plimpton LLP, where she specialized in complex securities and other bet-the-company litigation and regulatory investigations involving billions in damages. Ms. Slater regularly represented financial institutions and public companies before the SEC and DOJ. She also represented the City of New York in the criminal investigation of the 2003 Staten Island Ferry crash and led a landmark pro bono class action litigation regarding mental health treatment in New York City jails, which prevailed in the New York State Court of Appeals.

Ms. Slater graduated from New York University School of Law, where she was the Colloquium Editor of the Review of Law and Social Change. She is a founding member of the Pro Bono Advisory Council of New York Lawyers for the Public Interest and served as a trustee of Brooklyn Heights Montessori School.

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