Post-Confirmation Liquidation and Litigation Trusts in Business Bankruptcies: What Lies Ahead in 2018
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:
- Situations Requiring Post-Confirmation Liquidation and Litigation Trust
- Identifying the Best Mechanism
- Funding and Financing of Trust
- The Jurisdiction to Assist the Trust During Post-Confirmation
- What Lies Ahead in 2018
Peter Kelso, Principal
Roux Associates, Inc.
Cathy L. Reece, Director
Richard E. Mikels, Attorney
Pachulski Stang Ziehl & Jones LLP
Emily Slater, Managing Director
- What situations might require such a trust?
- What mechanism is best for the situation? It might be a trust, but an LLC or a reorganized entity might be considered.
- How is the trust to be funded or financed to perform its duties?
- Can the bankruptcy court retain jurisdiction to assist the trust post confirmation?
Who Should Attend:
- Bankruptcy Lawyers and Practitioners
- Bankruptcy Professionals
- Litigation and Liquidation Officers
- Attorneys, Practice Area: Litigation
- Practitioners (representing post-confirmation trusts)
- Legal Counsel
- Legal Advisers
Peter Kelso has been at the forefront of identifying emerging litigation trends for over 15 years. Mr. Kelso is an expert on mass tort and product liability litigation and advises clients on identifying and finding solutions for risks associated with emerging litigation. Mr. Kelso specializes in developing strategies to quantify, estimate, and mitigate potential damages and provides clients with expertise in product liability litigation, insurance coverage negotiations, mergers and acquisitions, liability ring fencing activities and bankruptcy reorganizations. He has led and helped support numerous public policy initiatives to effectuate judicial and legislative reform at the state and federal levels.
Mr. Kelso advises Fortune 100 companies, international insurers and reinsurers, and consults with many of the top investment firms on Wall Street on quantifying current and future potential costs associated with litigation outcomes. Mr. Kelso has given numerous speeches for the financial and legal communities at conferences hosted by the Brookings Institute, Goldman Sachs, Citigroup, Bank of America Securities, Bear Stearns, LexisNexis, and Perrin Conferences. Mr. Kelso currently leads a working group of top international corporations and insurers on examining the risks associated with asbestos and other toxic tort litigation.
Peter Kelso has been at the forefront of identifying emerging litigation trends for over 15 years. Mr. Kelso is an …
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.
CATHY L. REECE is the chair of the Financial Restructuring, Bankruptcy and Creditors’ Rights Practice Group at Fennemore Craig, PC. She …
Mr. Mikels has extensive experience in bankruptcy, commercial law, workouts, and reorganizations. He is known for representing significant debtor companies (both in chapter 11 and in out-of-court workouts), and is also known for representing creditors' committees, boards of directors, insurance companies, hedge funds, claims traders, and acquirers of businesses.
Mr. Mikels was inducted into the American College of Bankruptcy in 1991, the second year of the Colleges existence. He currently serves as the Chair of the Board of Regents. Mr. Mikels is an adjunct professor at Boston University School of Law and taught classes about chapter 11 for nine years. He has been listed in Chambers USA since 2003, Best Lawyers in America since 1983, and Massachusetts Super Lawyers since 2004. Best Lawyers named him Bankruptcy and Creditor-Debtor Rights Lawyer of the Year in 2010 and Bankruptcy Lawyer of the Year in 2013. University He has been ranked as a "star performer" in Chambers for Massachusetts from 2008 through 2016, and is currently listed in New York as well as nationally. Mr. Mikels is a former member of the Board of Directors of the ABI and currently serves as the co-chair of its mediation committee.
Mr. Mikels has extensive experience in bankruptcy, commercial law, workouts, and reorganizations. He is known for representing significant debtor companies (both in …
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.
Emily Slater is a Managing Director of Burford’s underwriting and investment arm in New York. Prior to joining Burford, Ms. …
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About Roux Associates, Inc.
Roux Associates provides a broad range of consulting, project management, and expert services to clients dealing with complex environmental problems. Founded over 35 years ago, Roux Associates’ work involves large complex environmental remediation projects, including Superfund sites, chemical and manufacturing plants, and petroleum refineries and distribution terminals. Today, Roux is an employee-owned company with over 300 environmental professionals in a variety of science and engineering disciplines. Roux’s services include environmental site assessment, remediation and compliance, litigation, insurance technical support, and economic analysis related to both business operations and litigation.
About Fennemore Craig
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.
About Pachulski Stang Ziehl & Jones LLP
Since 1983, Pachulski Stang Ziehl & Jones LLP has maintained a commitment to excellence that has earned it recognition as one of the nation's top insolvency practices. We have become the largest law firm in the country devoted primarily to corporate restructurings, with offices in Los Angeles, San Francisco, New York, and Delaware. But our philosophy has not changed: The strength of our team of talented lawyers is expertise and experience, not numbers. As a result, we believe we offer a unique combination of top-quality representation and small-firm economics and commitment.
Our goal is to provide exceptional and effective representation to a wide variety of clients, large public corporations and smaller businesses, debtors, creditors' committees and trustees, across many industries. We have a proven track record of success, and understand full well that we are judged by the results we achieve for our clients.
About Burford Capital
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.