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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, May 16, 2024

  • 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
CLE
ALL

This CLE course will guide counsel through the issues and process of proposing and confirming a plan of reorganization under Subchapter V of Chapter 11 of the Bankruptcy Code. The program will also review the consequences of consensual confirmation and cramdown on discharge.

Faculty

Amy E. Vulpio
Partner
Stradley Ronon

Ms. Vulpio counsels financial institutions, secured lenders, insurance companies, lessors, trade creditors, and other businesses and individuals in financial restructuring, bankruptcy, appellate and commercial litigation matters. On behalf of debtors, she assists with facilitating out-of-court workouts, preparing bankruptcy petitions and motions, formulating plans of reorganization or liquidation, and prosecuting claims objections and preference and fraudulent conveyance actions in both traditional Chapter 11 cases and Subchapter V small-business bankruptcies. Additionally, Ms. Vulpio handles bankruptcy-related litigation ranging from routine to complex and contentious, as well as bankruptcy appeals, including appellate briefing and oral argument.

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Adam R. Prescott
Shareholder
Bernstein Shur Sawyer & Nelson, P.A.

With experience in a broad range of industries, including healthcare, hospitality, food and beverage, manufacturing, retail, technology, transportation, and banking, Mr. Prescott helps businesses and individuals accomplish their goals by working closely with his clients and their advisors to understand the specifics of each situation and provide creative, cost-effective solutions to complex problems, both inside and outside of the courtroom.

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Description

A Subchapter V plan's contents are found in Sections 1122, 1123, and 1190 of the Bankruptcy Code, but not all provisions of Section 1123 apply. An important but controversial provision allows debtors to modify certain residential mortgages.

If all impaired classes accept the plan, confirmation is consensual, and discharge is effective immediately. If all impaired classes do not accept the plan, it can still be confirmed under Section 1191, but using different cramdown rules than those in Section 1129.

The logistics of payments and implementation of a plan are also different than in the traditional Chapter 11 plan, as are the type and timing a debtor receives. Many debtors reorganizing under Subchapter V will need to modify the plan due to changing circumstances, and these modifications may vary depending on how the plan was confirmed.

Listen as this experienced panel discusses the plan and confirmation challenges in Subchapter V.

Outline

  1. Major plan differences between Chapter 11 and Subchapter V
  2. Plan contents: necessary vs. advisable provisions
  3. Role of the Subchapter V trustee in plan creation and confirmation
  4. Requirement of confirmation
  5. Requirements for cramdown
  6. Discharge issues
  7. Post-confirmation default and modification

Benefits

The panel will review these and other key issues:

  • When and how can debtors strip down a residential mortgage?
  • How detailed should the disclosure provisions be?
  • What are the requirements for cramdown and the consequences?
  • How useful is Form 425A?