Description
Lenders seeking quick and efficient remedies to protect their collateral may turn to receivership, which has become a common alternative to bankruptcy proceedings in recent years. ABCs are another option, often cheaper and faster than receiverships or bankruptcy. Although not sought as frequently, the appointment of a receiver to aid in collecting a judgment is a powerful tool. But there are drawbacks and risks for all parties to receiverships or ABCs not present in the bankruptcy process.
Listen as this panel discusses each process' benefits and drawbacks and the ease or difficulty of obtaining each remedy, relevant statutes, and best practices for all stakeholder constituencies.
Presented By
Mr. Bates represents secured and unsecured creditors, debtors, committees, trustees and other parties-in-interest in Chapter 11 reorganization proceedings, insolvency matters, and debtor/creditor litigation, both in and out of court, including asset sales, reorganizations, litigation, and Chapter 11 proceedings. He also represents parties in business disputes and commercial litigation matters in state and federal courts.
Mr. Cohen specializes in creditors' rights and focuses on lender, indenture trustee, and lessor representation in bankruptcies, loan and lease workouts, defaulted bond financings and secured transactions. He also represents buyers of distressed companies in bankruptcy 363 sales and from assignees for the benefit of creditors.
Mr. Johnson represents clients in bankruptcy, non-bankruptcy insolvency proceedings, such as receiverships and foreclosure proceedings, out of court workouts and restructurings, and other related insolvency matters. As an experienced litigator, he also represents clients in complex insolvency related litigation, including bankruptcy avoidance actions and other adversary proceedings and contested matters. Mr. Johnson also is a member of the panel of Chapter 7 trustees for the Western District of Missouri and is currently serving as a federal equity receiver.
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This 90-minute webinar is eligible in most states for 1.5 CLE credits.
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Date + Time
- event
Tuesday, July 16, 2024
- schedule
1:00 p.m. ET./10:00 a.m. PT
- Comparing bankruptcy, receivership, and ABC on key facets
- Relevant statutory authority
- How each process initiated
- Qualifications and duties of receiver, trustee, or assignee
- Compensation and use of professionals
- Oversight and accountability to court, others
- Stay of litigation or collection
- Claims and collateral disposition
- Priorities of payment and the Federal Priority Act
- Avoidance powers
- Best strategies
- Lenders
- Debtors
- Creditors
The panel will review these and other key issues:
- How are receiverships and ABCs being used?
- What factors must be considered by lenders, borrowers, buyers, and others when evaluating whether to seek or oppose a receivership or to use the ABC process?
- What are the key provisions in any relevant receivership order or ABC?
