Introduction to Corporate Restructuring
An introduction to corporate restructurings, including the differences between bankruptcy and restructuring and the factors companies consider when deciding whether and how to restructure or liquidate. Also covers the key players in a corporate restructuring on the debtor and creditor sides as well as the additional players involved in a Chapter 11 case.
Corporate Restructuring Practice
This course explains corporate restructuring work at a large law firm and what restructuring lawyers do. It covers the various factors that influence the type of work involved, such as in-court vs. out-of-court restructurings and creditor vs. debtor representation, and what restructuring teams look like.
Restructuring Options for Distressed Companies
An explanation of the different types of restructuring transactions, including in-court and out-of-court transactions and their relative advantages and disadvantages. Covers options such as traditional Chapter 11 filings, prepacks, prenegotiated cases, 363 sales, and workouts.
Introduction to 363 Sales
An introduction to 363 sales, focusing on the main differences between 363 sales, out-of-court sales, and Chapter 11 plan sales.
Overview of a Chapter 11 Case
An overview of the main stages of a Chapter 11 case, including venue and liquidity runway considerations; filing and commencement; administration; the Chapter 11 plan, disclosure statement, and solicitation process; and plan confirmation and exit from Chapter 11.
Prepackaged and Prenegotiated Bankruptcies
An introduction to prepacks and prenegotiated Chapter 11 cases, including what they are, why they’re used, and their respective advantages and disadvantages. Also covers process, solicitation of votes, hearings, and documentation.
Bankruptcy Litigation Overview
At its heart, Chapter 11 is an adversarial process. This course explains the key litigation concepts and actions in a Chapter 11 bankruptcy case, including jurisdiction, the bankruptcy estate, core proceedings, contested matters, and adversary proceedings.
Chapter 11 Disclosure Statements and Orders
A walkthrough and explanation of a typical disclosure statement and order, including the related forms of notices and ballots. Covers the main requirements, contents, and drafting process.
First Days
The “first days” in a Chapter 11 case are very important and serve as the basis for the company’s operation in Chapter 11. This course explains what happens in the first days and covers the various first day orders, motions, and hearings.
The 363 Sale Process
A discussion of the phases, process, and timeline in a 363 Sale. Includes marketing, stalking horse bidders, the APA, bidding procedures, the auction process, and court approval and closing.
Chapter 11 Plan Confirmations
A discussion of plan confirmation requirements under Section 1129 of the Bankruptcy Code, covering both consensual and nonconsensual (or cramdown) confirmations. Includes explanations of voting requirements, the best interests test, and the absolute priority rule.
Executory Contracts and Unexpired Leases in Bankruptcy
A discussion on assuming, assigning, and rejecting executory contracts and unexpired leases under Section 365 of the Bankruptcy Code. Covers timing, process, requirements, and the effect of rejection.
Avoidance Actions
An overview of avoidance actions in a corporate restructuring, with a focus on preference actions and actual or constructive fraudulent transfers and conveyances.
Chapter 11 Plans
A walkthrough of a sample Plan of Reorganization to show what’s in them and why, with explanations of the mandatory and discretionary plan provisions of Section 1123 of the Bankruptcy Code. Explains concepts like class designations and treatment, death trap provisions, and plan implementation.
Financing in Bankruptcy: DIP Loans
An overview of debtor-in-possession (DIP) loan arrangements. Covers the process, documentation, and lenders, including a discussion of the benefits offered to DIP lenders under the Bankruptcy Code.
Financing in Bankruptcy: Cash Collateral and Unsecured Credit
An overview of how companies use cash and unsecured credit to finance their operations during bankruptcy. Covers encumbered cash (cash collateral), unencumbered cash, establishing adequate protection, and how companies can take out additional unsecured credit.
Restructuring Support Agreements
Restructuring Support Agreements (RSAs) are used to document support for a company’s proposed restructuring plan. This course discusses what’s in an RSA and how they’re used. It also walks through a sample RSA to explain their key provisions.