Significant Issues in Distressed Debt and Restructurings Explored

Broadcast Date: Tuesday, May 20, 2014 from 10:00 am to 11:00 am (ET)

Tax, Accounting and Finance (CPE), Recording

Overview:

The growing complexities of tax rules and issues surrounding Distressed Debt and Restructurings make acquisition of such assets especially challenging for companies in 2014 & beyond.

The Knowledge Group has assembled a panel of thought leaders and practitioners who will share their opinions in a one-hour webcast. Key topics include:

Make-Whole Clauses and the Importance of Clarity in Debt Instruments
In re Residential Capital, LLC, 501 B.R. 549 (Bankr. S.D.N.Y. 2013) - Takeaways for secured creditors and distressed debt buyers
Credit Bidding and In re Fisker Automotive Holdings Inc., Case No. 13-13087 (Bankr. D. Del. Jan. 17, 2014)
Income tax consequences of restructuring transactions to debtors and creditors

Finance executives and investors must have a comprehensive understanding of the issues such as tax, legal, audit and valuation when acquiring distressed debt. This live webcast will help you maximize understand the most critical issues.

Agenda:

SEGMENT 1:
Curtis S. Miller, Partner
Morris, Nichols, Arsht & Tunnell LLP

and

Ana Alfonso, Partner
Willkie Farr & Gallagher LLP

Significant Issues in Bankruptcy and Restructuring
Make-Whole Clauses and the Importance of Language in Debt Instruments
Recent Case Law
In re Residential Capital, LLC, 501 B.R. 549 (Bankr. S.D.N.Y. 2013)
Credit Bidding and In re Fisker Automotive Holdings Inc., Case No. 13-13087 (Bankr. D. Del. Jan. 17, 2014)

SEGMENT 2:
Richard M. Nugent , Partner
Cadwalader, Wickersham & Taft LLP

Cancellation of indebtedness income
NOL changes
Can reference a big bankruptcy

SEGMENT 3:
Harvey Berenson, Managing Director
FTI Consulting

Basic Cancellation of Debt (COD) Rules
Foreclosure/Deed in Lieu of Foreclosure
Debt Modification
Related Party Acquisition of Debt
Partnership Debt for Equity Swaps
Exceptions to COD Recognition:
- Bankruptcy and Insolvency
- Qualified Real Property Business Indebtedness
Market Discount
State Transfer Tax Issues

Who Should Attend:

- M & A, Bankruptcy, Corporate Attorneys and Consultants
- 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
- Other interested/related professionals

Curtis S. Miller Partner Morris, Nichols, Arsht & Tunnell LLP

Curtis S. Miller is a partner in the Business Reorganization and Restructuring Group at Morris, Nichols, Arsht & Tunnell LLP …

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Ana Alfonso Partner Willkie Farr & Gallagher LLP

Ana M. Alfonso is a partner in the Business Reorganization and Restructuring Department of Willkie Farr & Gallagher LLP in …

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Richard M. Nugent Partner Cadwalader, Wickersham & Taft LLP

Richard Nugent is a transactional lawyer with significant experience in the tax aspects of public and private mergers, acquisitions and …

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Harvey Berenson Managing Director FTI Consulting

Harvey Berenson is a Managing Director at FTI Consulting and is based in New York. Mr. Berenson is a member …

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Course Level:
Intermediate

Advance Preparation:
Print and review course materials

Method of Presentation:
On-demand Webcast

Prerequisite:
NONE

Course Code:
134552

NASBA Field of Study:
Specialized Knowledge and Applications

NY Category of CLE credit:
Skills

Total Credit:
1.0 CLE
1.0 CPE

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About Morris, Nichols, Arsht & Tunnell LLP

Morris, Nichols, Arsht & Tunnell LLP is a nationally recognized law firm based in Wilmington, Delaware. Morris Nichols offers clients a broad national practice of corporate, intellectual property, business reorganization and restructuring, trusts, commercial law and litigation along with general business, estate and tax planning, and real estate counsel within the State of Delaware. The firm is regularly involved as lead counsel or co-counsel in matters of national and international significance as well as those affecting its immediate community. Its Bankruptcy Companion for iPad is the first in a series of Delaware practice-specific apps tailored for legal professionals and is available as a free download from the App Store.www.MorrisNichols.com

Website: https://www.morrisnichols.com/

About Willkie Farr & Gallagher LLP

Willkie Farr & Gallagher LLP is a leading international law firm that provides strategic legal representation and trusted counsel to market-leading public and private companies worldwide. Founded in 1888, the firm has approximately 550 lawyers based in key financial centers – New York, Washington, Paris, London, Milan, Rome, Frankfurt and Brussels. Willkie’s Business Reorganization and Restructuring Department is a global practice with proven expertise in all aspects of business and financial restructurings and insolvency matters. We represent a broad spectrum of clients with stakes in distressed situations: distressed companies, commercial lenders and administrative agents on syndicated credits, hedge funds, private equity funds, ad hoc creditor groups, acquirers of distressed assets and many others. We have particular experience in many industries, including energy, manufacturing, telecommunications, hospitality/gaming, entertainment, healthcare, real estate, transportation and financial services.

Website: https://www.willkie.com/

About Cadwalader, Wickersham & Taft LLP

Established in New York in 1792, Cadwalader, Wickersham & Taft LLP is a leading advisor to corporations and financial institutions, providing innovative solutions to complex legal issues. With offices in strategically located financial and governmental centers, the firm is well positioned to offer top-flight services to clients conducting business across the globe.

Website: https://www.cadwalader.com/

About FTI Consulting

About FTI Consulting

FTI Consulting, Inc. is a global business advisory firm dedicated to helping organizations protect and enhance enterprise value in an increasingly complex legal, regulatory and economic environment. With more than 4,200 employees located in 26 countries, FTI Consulting professionals work closely with clients to anticipate, illuminate and overcome complex business challenges in areas such as investigations, litigation, mergers and acquisitions, regulatory issues, reputation management, strategic communications and restructuring.

About FTI Consulting Real Estate and Infrastructure Solutions

The Real Estate and Infrastructure Solutions group at FTI Consulting has a singular focus on the real estate and finance industry and the capital markets that serve it.

Our services are designed to create integrated financial, operating and tax solutions for clients with interests in real estate. We provide an unsurpassed range of real estate advisory services including merger & acquisitions, due diligence, valuation, lease consulting, restructuring, litigation support, forensic accounting, financial outsourcing, IPO advisory, REIT tax structuring and compliance, executive compensation, development advisory, cost segregation and private client services.

We represent leading public and private real estate entities including equity and mortgage REITs, financial institutions, investment banks, opportunity funds, insurance companies, hedge funds, pension advisors and owners/developers.

Website: https://www.fticonsulting.com/