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  • videocam On-Demand
  • signal_cellular_alt Intermediate
  • card_travel Bankruptcy
  • schedule 90 minutes

Bankruptcy Restructuring and Guarantee Liability: Issues for Debtors, Borrowers, Lenders, and Third-Party Creditors

$297.00

This course is $0 with these passes:

CLE
ALL
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About the Course

Introduction

This CLE webinar will discuss the legal and economic issues related to the treatment and enforcement of personal and intercorporate guarantees before, during, and after bankruptcy or confirmation, in the context of frequently occurring scenarios.

Description

In the corporate context, whether representing the primary obligors or the guarantor, counsel negotiating and drafting guarantees must keep in mind that the bankruptcy of any party to the agreement can significantly affect the rights and remedies of all. Intercorporate guaranties, including upstream, downstream, and cross-stream guaranties, and guaranties in fund finance present unique and complex problems in bankruptcy.

As to personal guarantees, guarantors often mistakenly believe that they are guaranteeing only against certain enumerated and affirmative bad acts by the borrower-debtor, only to discover that the obligations are more extensive. On the other hand, if the debtor is the guarantor, the borrower and its creditors may have to wait years before they have access to the assets of the guarantor to collect on a judgment against an affiliated borrower. The existence of a guarantee also raises a series of complex and challenging issues relating to whether such a pre-petition guarantee can be enforceable after discharge.

Listen as this experienced panel of bankruptcy lawyers offers best strategies and practices for enforcing guarantees affected by bankruptcy.

Presented By

Kyung S. Lee
Partner
Shannon & Lee, LLP

Since graduating from Duke Law School, Mr. Lee has spent the last 40 years carefully guiding clients through sensitive workout negotiations, and, when a bankruptcy filing has been required to reorganize a distressed company, he has litigated for his clients in bankruptcy courts to achieve their objectives. Mr. Lee has either first- or second-chaired a significant number of bankruptcy cases, whether on a negotiated or litigated basis, in a variety of industries. In addition to his law degree, he also holds a Master of Business Administration degree from the Fuqua School of Business at Duke University. With both a JD and an MBA, Mr. Lee has the background to understand his client's needs and become intimately familiar with the facts of a new matter with a minimal learning curve.


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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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Credit Information

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


  • Live Online


    On Demand

Date + Time

  • event

    Tuesday, April 2, 2024

  • schedule

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

  1. Types of guarantees and relevance to bankruptcy
  2. Applicability of the automatic stay
  3. Impact of various claim limits in bankruptcy on guarantees
  4. Multiple guarantees of the same obligation against multiple debtors
  5. Effect of confirmation, including third-party releases
  6. Options under Subchapter V of Chapter 11

The panel will discuss these and other important issues:

  • When is a guaranty claim reduced by recovery in a debtor's bankruptcy case?
  • How many claims do you have if you have multiple guaranty claims by multiple debtor subsidiaries, just one or multiple claims in each subsidiary debtor?
  • Are bad boy guarantees triggered by bankruptcy enforced?
  • What happens if the business later incurs additional obligations after the business owner received a bankruptcy discharge?