Webinar: ABI Commission on Chapter 11 Reform

Thursday, December 18 12:00 AM PDT to 09:00 AM PDT

The ABI Commission to Study the Reform of Chapter 11 has recently released its final report. The report proposes numerous important revisions to current laws, many of which would have an impact on senior lenders, out-of-court restructurings and bankruptcy cases if adopted by Congress. The commission's findings were previewed at the ABI's Winter Leadership Conference.

The ABI Commission's proposal includes:

  • Assuring recoveries to junior creditors, even if senior creditors are not paid in full,

  • Rendering unenforceable certain protections senior lenders typically obtain in intercreditor agreements,

  • Assigning collateral its foreclosure value for adequate protection calculations,

  • Limits on and more precise legal standards governing sales of substantially all of the debtor’s assets,

  • Substantial restrictions on roll up DIP Financings,

  • A rejection of Till’s formula to cramdown interest rates in favor of a market test.

Paul Hastings finance and restructuring lawyers will host a complimentary one-hour webinar to discuss the report and its impact should the revisions to the Bankruptcy Code be passed by Congress.

For event questions, contact Michelle Mattera at michellemattera@paulhastings.com or +1.212.318.6663.


Image: Katherine E. Bell
Katherine E. Bell

Partner, Corporate Department

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