Business Reorganization

In the past year, ending June 30, 2021, there have been 6,871 number of chapter 11 filings nationwide, and only 149 of them were of health care companies. Is there still distress in the industry, or did the U.S.’s stimulus funding correct the distress?

Based on the "Ted Talks" format, presenters will address timely and divisive issues such as rejection of power purchase agreements, the future of oil and gas, venue alternatives and an analytical review of Bankruptcy Appellate Panels reversal and affirmances. 

Nellwyn Voorhies
Donlin, Recano & Company, Inc.; New York

Jurisdictional Battle: Bankruptcy Courts vs. FERC in Rejection of Power Purchase Agreements
Theodore E. Tsekerides
Weil, Gotshal & Manges LLP; New York

Ninth Circuit as an Alternative to SDNY/Delaware
Tobias S. Keller

Uncle Sam said “Take the money...everything will be OK”. Now, the IRS, SBA and Congress are changing the rules, creating new hurdles for distressed businesses. This panel dives into recent legislation in CARES II and the evolving legal and regulatory landscape governing access to, and repayment of, PPP and EIDL loans.

States across the country have enacted so-called “reviver” statutes, allowing otherwise time-barred claims for childhood sexual abuse to proceed. History has shown that bankruptcy filings by targeted institutions are a natural byproduct of reviver statutes and laws tolling the applicable statutes of limitations for sexual abuse claims. Indeed, an increasing number of bankruptcies have been filed in the wake of reviver statutes and new waves of sexual abuse claims.

This panel will discuss the disposition of restructured equity, including § 1145 and other limitations and exemptions; selecting and managing post-restructured boards, and how to assemble a new board with a view toward maximizing value; issues attendant to the recruitment of pertinent and qualified directors; departures from rent-a-director; use of independent directors on a new board; granting of observer rights; perspectives of being a member of a well-run post-restructured board; shareholder voting and control considerations, including minority rights; incentivizing management through MIPs,