BRCSM’s Lisa Kresge will serve as a panelist on “Other Nonbankruptcy Alternatives: Exchange Offers, Strict Foreclosures and Workouts,” one of the sessions at the three-day Northeast Bankruptcy Conference and Northeast Consumer Forum in Newport in July.
See the program description below and the link to learn more:
ABCs and state receiverships are not the only chapter 11 alternatives. With even middle-market companies having widely held and tradeable note instruments, the exchange offer provides an out-of-court alternative that, if successful, can provide most of the benefits of a confirmed chapter 11 plan, and if unsuccessful, can still provide the basis for a confirmable prepackaged plan.
The panel will provide an introduction to exchange offers: the goals, mechanics and documents. Speakers will also explore the current thinking on the short reach of the Trust Indenture Act in exchange offers after the Second Circuit Court of Appeals’ decision in Marblegate Asset Management vs. Education Management Corp. In addition, the program will explore opportunities to use strict foreclosure and other consensual, or nonconsensual, workouts, wind-downs and liquidations to maximize value.