New Rules for Distressed Debt: Boon or Bane?
Live Webcast Date:
Friday, February 25, 2011 from 3:00 pm to 5:00 pm (ET)
New Rules for Distressed Debt
Join us for this Knowledge Group New Rules for Distressed Debt Webinar. The continuing economic turmoil may offer rare opportunities for investors and companies to acquire distressed debt at deep discounts. However, there are complex tax rules and information reporting requirements which govern the acquisition of distressed debts.
Tax professionals, finance executives and investors must have a comprehensive understanding of the issues when acquiring distressed debt such as tax, legal, audit and valuation. This webcast will help you maximize your returns while minimizing risk.
The Knowledge Group is assembling a panel of speaker experts who will share their opinions in a two-hour webcast. A live interaction with the audience in a question and answer format is also included in this event.
Advanced registration is recommended as space is limited. Register early and save! Click the “Register” button below to sign up for this course today.
Agenda
- I. Introduction
- Economic Environment – 2008 to Present
- Tax Guidance
- II. Basic Tax Principles
- Events Resulting in Taxable Exchange and COD Income
- Situations Resulting in OID
- Rules for Significant Modification
- Enactment of Section 108(i) Applicable AHYDO Rules
- III. Publicly Traded Debt – Recently Issued Proposed Regulations
- Existing Rules
- Areas of Debate
- Application and Relevance of Proposed Rules
- Compliance Issues
- IV. Issuer’s Credit Deterioration
- Uncertainty Regarding Prior Version of Treas. Reg. Sec. 1.1001-3(e)(5)(i)
- New Regulation
- V. Payments on Distressed Debt
- Inclusion of Interest and OID
- Issuer’s Interest Deductions
- Allocation of Payments
- VI. Market Discount Rules
- VII. Distressed Debt Acquisitions Resulting in Engaging in a U.S. Trade/Business (ETB)
- When Is a Foreigner Treated as ETB?
- Safe Harbor
- Situations Raising ETB Issues
Who Should Attend
- Attorneys and Consultants
- Legal Advisors
- Distressed Securities/Hedge Funds Professionals
- Portfolio Managers
- Financial Executives and other related Professionals
- Accountants
- CEOs, Presidents, CFOs and other Senior Executives
- Fixed Income Directors and Managers
- Tax Professionals
New Rules for Distressed Debt
- I. Introduction
- Economic Environment – 2008 to Present
- Tax Guidance
- II. Basic Tax Principles
- Events Resulting in Taxable Exchange and COD Income
- Situations Resulting in OID
- Rules for Significant Modification
- Enactment of Section 108(i) Applicable AHYDO Rules
- III. Publicly Traded Debt – Recently Issued Proposed Regulations
- Existing Rules
- Areas of Debate
- Application and Relevance of Proposed Rules
- Compliance Issues
- IV. Issuer’s Credit Deterioration
- Uncertainty Regarding Prior Version of Treas. Reg. Sec. 1.1001-3(e)(5)(i)
- New Regulation
- V. Payments on Distressed Debt
- Inclusion of Interest and OID
- Issuer’s Interest Deductions
- Allocation of Payments
- VI. Market Discount Rules
- VII. Distressed Debt Acquisitions Resulting in Engaging in a U.S. Trade/Business (ETB)
- When Is a Foreigner Treated as ETB?
- Safe Harbor
- Situations Raising ETB Issues
New Rules for Distressed Debt
Jonathan M. KushnerPrincipal, M&A Transaction Services (Former Assistant Branch Chief, IRS Office of Chief Counsel, Corporation Tax Division)Deloitte Tax LLP
Richard M. NugentPartnerCadwalader, Wickersham & Taft LLP
Richard Nugent is a transactional lawyer with significant expertise in the tax aspects of public and private corporate mergers, acquisitions, and spin-offs. He also has experience advising clients on cross-border tax strategies, the tax consequences of restructurings and bankruptcies, and financing transactions.
Richard also has authored or co-authored several articles on U.S. tax issues.
Richard received his LL.M., with distinction, from Georgetown University Law Center; his J.D., with honors, from Rutgers School of Law; and his B.A., summa cum laude, from Saint Peter’s College. He served as a clerk to The Honorable Richard F. Suhrheinrich of the U.S. Court of Appeals for the Sixth Circuit and The Honorable Robert P. Ruwe of the United States Tax Court.
Victor HollenderPartner, TaxSkadden, Arps, Slate, Meagher & Flom LLP
Victor Hollender advises on a wide range of U.S. and international tax matters, including mergers and acquisitions, divestitures, cross-border financings, spin-offs, IPOs, taxation of sovereign entities, and public and private infrastructure transactions. Mr. Hollender has extensive experience advising on and structuring a wide variety of financial products, hybrid capital and derivatives transactions, as well as transactions involving the formation and operation of partnerships and joint ventures.
Mr. Hollender also represents U.S. and international corporations and investment banks in connection with private and public offerings of debt, equity and other financial instruments. He also has extensive experience in forming investment funds, including exchange funds.
Mr. Hollender lectures in continuing legal education programs and is a contributing author to the Practising Law Institute’s Federal Income Taxation Seminar on topics relating to financial products, partnerships and joint ventures, and corporate tax shelter regulations.
Mr. Hollender was included in Chambers USA: America’s Leading Lawyers for Business 2009 and 2010.
New Rules for Distressed Debt
Course Level:
Intermediate
Advance Preparation:
Print and review course materials
Method Of Presentation:
On-demand Webcast
Prerequisite:
NONE
Course Code:
104076
Total Credits:
2.0 CLE
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About 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.
Speaker Firms
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Faculty
Click show bio to learn more
Jonathan M. Kushner
Principal, M&A Transaction Services (Former Assistant Branch Chief, IRS Office of Chief Counsel, Corporation Tax Division)
Deloitte Tax LLP
Principal, M&A Transaction Services (Former Assistant Branch Chief, IRS Office of Chief Counsel, Corporation Tax Division)
Deloitte Tax LLP
Richard M. Nugent
Partner
Cadwalader, Wickersham & Taft LLP
Partner
Cadwalader, Wickersham & Taft LLP
Victor Hollender
Partner, Tax
Skadden, Arps, Slate, Meagher & Flom LLP
Partner, Tax
Skadden, Arps, Slate, Meagher & Flom LLP
About 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.
Richard Nugent is a transactional lawyer with significant expertise in the tax aspects of public and private corporate mergers, acquisitions, and spin-offs. He also has experience advising clients on cross-border tax strategies, the tax consequences of restructurings and bankruptcies, and financing transactions.
Richard also has authored or co-authored several articles on U.S. tax issues.
Richard received his LL.M., with distinction, from Georgetown University Law Center; his J.D., with honors, from Rutgers School of Law; and his B.A., summa cum laude, from Saint Peter’s College. He served as a clerk to The Honorable Richard F. Suhrheinrich of the U.S. Court of Appeals for the Sixth Circuit and The Honorable Robert P. Ruwe of the United States Tax Court.
Victor Hollender advises on a wide range of U.S. and international tax matters, including mergers and acquisitions, divestitures, cross-border financings, spin-offs, IPOs, taxation of sovereign entities, and public and private infrastructure transactions. Mr. Hollender has extensive experience advising on and structuring a wide variety of financial products, hybrid capital and derivatives transactions, as well as transactions involving the formation and operation of partnerships and joint ventures.
Mr. Hollender also represents U.S. and international corporations and investment banks in connection with private and public offerings of debt, equity and other financial instruments. He also has extensive experience in forming investment funds, including exchange funds.
Mr. Hollender lectures in continuing legal education programs and is a contributing author to the Practising Law Institute’s Federal Income Taxation Seminar on topics relating to financial products, partnerships and joint ventures, and corporate tax shelter regulations.
Mr. Hollender was included in Chambers USA: America’s Leading Lawyers for Business 2009 and 2010.
