Approval of bid protections in connection with the sale of significant assets pursuant to § 363 of the Bankruptcy Code has become an established practice in chapter 11 cases.[1] In nonbankruptcy transactions, bidding incentives like break-up fees and expense reimbursements are measured against a business judgment standard.
Committees
Unsecured creditors are often out-of-the-money or positioned to receive a pittance of a distribution by the terms initially proposed by chapter 11 debtors and the secured lenders who consent to the proposal. This is particularly true if an unpaid portion of secured debt looms as a deficiency claim, threatening to further dilute general unsecured creditor (GUC) recoveries.
Given the broad and diverse impact that the COVID-19 pandemic has had on the economy since 2020, it’s become apparent that a comprehensive and maintained operating model can position lower-middle-market companies to successfully sustain operations — especially in unprecedented circumstances.
ABI’s committees focus on specific areas of insolvency and provide committee members with a platform to share knowledge and ideas. Each committee publishes quarterly newsletters with articles authored by committee members, and hosts periodic webinars that showcase committee members and their practices.
Risk-retention rules mandated under the Dodd-Frank Act have raised issues for managers seeking to raise collateralized loan obligation (CLO) funds. Credit risk-retention rules have been considered paramount to the Dodd-Frank Act and apply to sponsors of asset-backed securities requiring such sponsors to hold 5 percent of the value of the securities offered by the sponsor.
When ABI’s Commission to Study the Reform of Chapter 11 issued its Final Report in 2014, one creative approach it recommended is to authorize a new bankruptcy position: the "estate neutral."
When ABI’s Commission to Study the Reform of Chapter 11 issued its Final Report in 2014, one creative approach it recommended is to authorize a new bankruptcy position: the "estate neutral."
The U.S. higher education sector had been fueled by three decades of sustained enrollment growth that extended through 2010. Both public and private investment flowed to the sector, and credit remained readily accessible to roughly 4,000 U.S. institutions.
Dear Committee Members: The ABI Financial Advisors and Investment Banking (FA/IB) Committee had another active and successful year in 2015.
There is much in the booming health care industry to entice an acquisition or integration. The boom has been accompanied by vast amounts of data digitized as electronic health records and myriad other formats. This data adds great value to health care organizations. Because of its value, data merits exacting protection from loss of any kind.
Fri, 2017-12-01
Hosted by the Asset Sales and Financial Advisors and Investment Banking Committees. FAs, IBs, RE advisors, attorneys: too many cooks in the kitchen? This panel will discuss the anatomy of the bankruptcy sales process and focus on optimizing value by drawing on the resource skills of attorneys, investment banks, financial advisors and real estate advisors.
Fri, 2016-04-15
Legal and Practical Issues Involving Secured Creditors and the Retention of Financial Advisors.
Sat, 2015-04-18
Structuring Cross-Border Deals to Protect Creditor Interests
Ms. Dawn M. Cica, Esq.
Co-Chair
Carlyon Cica Chtd.
Las Vegas, NV
(702) 685-4444
Co-Chair
Carlyon Cica Chtd.
Las Vegas, NV
(702) 685-4444
Mr. Kenneth W. Mann
Co-Chair
SC&H Capital
Ellicott City, MD
(443) 951-4834
Co-Chair
SC&H Capital
Ellicott City, MD
(443) 951-4834
Ms. Jennifer Taylor
Communications Manager
O'Melveny & Myers LLP
San Francisco, CA
(415) 984-8700
Communications Manager
O'Melveny & Myers LLP
San Francisco, CA
(415) 984-8700
Ms. Heather G. Williams
Education Director
CR3 Partners LLC
Richmond, VA
(804) 486-5404
Education Director
CR3 Partners LLC
Richmond, VA
(804) 486-5404
Mr. Howard A. Cohen
Membership Relations Director
Gibbons PC
Wilmington, DE
(302) 518-6330
Membership Relations Director
Gibbons PC
Wilmington, DE
(302) 518-6330
Ms. Melissa Davis, CPA, CIRA, CFE
Newsletter Editor
KapilaMukamal, LLP
Fort Lauderdale, FL
(954) 761-1011
Newsletter Editor
KapilaMukamal, LLP
Fort Lauderdale, FL
(954) 761-1011
Ms. Jolene E. Wee
Special Projects Leader
JW Infinity Consulting LLC
New York, MD
(929) 502-7715
Special Projects Leader
JW Infinity Consulting LLC
New York, MD
(929) 502-7715