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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

    Intermediate

  • work Practice Area

    Bankruptcy

Date & Time
  • event Date

    Thursday, January 9, 2025

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    90 minutes

Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.

$297.00

This course is $0 with these passes:

CLE
ALL

This CLE webinar will offer an in-depth analysis of the actual workings of state and federal receiverships, must-have provisions of receivership orders, best practices, and how to hedge the uncertainties that the debtor will file bankruptcy.

Faculty

Bryan E. Bates
Partner
Parker, Hudson, Rainer & Dobbs LLP

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.

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Eric L. Johnson
Partner
Spencer Fane LLP

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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Matthew M. Weiss
Partner
Parker, Hudson, Rainer & Dobbs LLP

Mr. Weiss helps creditors successfully navigate bankruptcy and restructuring matters, with a focus on creditors’ rights and insolvency-related litigation in bankruptcy, federal and state courts. His experience includes all phases of Chapter 7 and 11 bankruptcies, representing secured and unsecured creditors as well as debtors and other parties-in-interest. With years of deep experience spanning the nuanced details of statutory interpretation to the most sophisticated strategies for companies facing financial distress, Mr. Weiss guides his clients to the best legal and business outcomes for their situation. He has developed an emerging political law practice, serving as Deputy General Counsel for the Democratic Party of Georgia and representing elected officials with investigations and compliance issues in front of the Georgia Government Transparency and Campaign Finance Commission. 

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Description

Creditors dealing with distressed loans or borrowers are increasingly choosing to seek the appointment of a receiver as an alternative to the debtor's bankruptcy. Lawyers advising their clients need to adequately understand what receivership can and cannot accomplish, how both state and federal receivership work, when to select each, and what happens if the debtor files bankruptcy anyway.

The receivership order will usually govern what the receiver can do and should be carefully drafted to convey broad authority. The panel will analyze a receivership order from the perspectives of secured creditor, borrower, and third-party creditors highlighting those provisions most important to each.

Listen as our authoritative panel explains the factors that should be considered when evaluating whether to seek or oppose a receivership and best practices for navigating the receivership process.

Outline

  1. Advantages and disadvantages of receivership
  2. Choosing state or federal receivership
    1. Federal Priority Act
  3. Appointment of a receiver
    1. Statutory authority
    2. Lawsuit requirement
    3. Best practices when drafting the motion for appointment of receiver
    4. Jurisdictional issues
    5. Due process: ex parte hearing or a hearing on noticed motion
    6. Challenges to a receivership
    7. Right of third parties to intervene in receivership proceedings
    8. Time from which the receivership operates
    9. Managing costs
  4. Qualifications of receiver
  5. Receivership order
    1. Duties, rights, and responsibilities of a receiver
      1. Whose interests does the receiver protect?
      2. Receiver as fiduciary
      3. Receivership expenses; receivership compensation and attorney fees
    2. Investigation
    3. Property of the receivership estate
      1. Effect on title and possession of property
      2. The receiver's right to sell assets
    4. Retention of professionals, including counsel
    5. Entering into new contracts and expenditures
    6. Claims to insurance proceeds
  6. Litigation by and against the receiver and the receivership estate
    1. Receiver standing/in pari delicto
    2. Jurisdiction, venue, and service issues related to a receiver's action against a foreign third party
    3. Costs and expenses in suit or proceedings by or against receiver
    4. Avoidance actions in a receivership
  7. Receivership accounting and reports
  8. Receiver's potential liability
  9. Termination of a receivership and discharge of receiver
  10. Bankruptcy
    1. Effect of prior receivership
    2. Preparing for bankruptcy while in receivership

Benefits

The panel will review these and other important issues:

  • What special challenges exist if the borrower or borrower group is located across several states?
  • What is the Federal Priority Act and why is it important for receivership?
  • How can creditors prepare for and navigate the risk of subsequent borrower bankruptcy?