Unsecured Trade Creditors

This panel takes a fresh look at the latest categories and buyers of asset sales under § 363, and the increased influence that unsecured creditors are exerting over those sales. The panelists discuss recent noteworthy successful and failed sales, including Vice Media, Vital Pharmaceuticals, Inc., Celsius Network, LedgerX and Voyager.

Hosted by the Commercial & Regulatory Law and Unsecured Trade Creditors Committees
This panel will explore issues that are driving value in health care bankruptcies, particularly issues of import to unsecured creditors. Included in the discussion will be the priority and impact of Medicaid provider fees, difficulties in valuing health care receivables and the resulting effects on claim status and cost of financing, the landscape of chapter 9 as a vehicle for the restructuring of a public health care debtor, and the treatment and saleability of provider agreements.

This panel will explore the efforts being taken to use blocking provisions in corporate and company organizational documents to limit the possibility of a bankruptcy filing, and will discuss the importance of independent board members in various transactions throughout the duration of a chapter 11 case and financial distress.

Presented by the Asset Sales and Unsecured Trade Creditors Committees

Resolved: Unsecured creditors entitled to post-petition interest can only be paid at the federal judgment rate.
Pro: Rachel C. Strickland
Willkie Farr & Gallagher LLP; New York
Con: Joseph H. Smolinsky
Weil, Gotshal & Manges LLP; New York

Resolved: Actual fraud under § 523(a)(2)(A) is limited to misrepresentation.
Pro: G. Eric Brunstad,
Dechert LLP; Hartford, Conn.
Con: Danielle Spinelli .
WilmerHale; Washington, D.C.

Resolved: Negative-notice procedure is sufficient to
establish consent under § 363(f).
Pro: Hon. Thomas J. Catliota