How to Handle Small Business Bankruptcies
Strategies for reorganizing small businesses under the streamlined, relaxed plan confirmation standards of new Subchapter V of Chapter 11 of the Bankruptcy Code
- Product Number: 2210237P01
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CLE Credits, earn up to:
3 substantive credits, 0 ethics credits CLE Credit Note -
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Product Description
Product Description
COVID-19 has resulted in the worst business contraction in years, and the shuttering of large portions of the economy. Small businesses are struggling under severe operating restrictions imposed as a result of the pandemic, and are in need of financial restructuring more than ever. Newly enacted Subchapter V, as enhanced by the CARES Act, is the relief valve that provides a quick and affordable pathway to recovery. Individuals who guaranteed the debts of their small business or posted their property as collateral for business loans may additionally qualify to file under Subchapter V.This new program provides you with the tools you need to adapt your practice for the coming wave of small business 11's. Hear an expert faculty guide you through the new provisions of Subchapter V, bankruptcy forms, and the most recent case law as you learn how to successfully take a case from initial client interview to plan confirmation.
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Agenda
Agenda & Materials
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2:05 - 2:30 pm
Initial Considerations
on demand video Add to Cart- Is bankruptcy the best alternative
- Who is the client and how to avoid conflicts in the small business setting
- Subchapter V eligibility
- Benefits and burdens of Subchapter V
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2:30 - 2:55 pm
First Meeting with the Debtor
on demand video Add to Cart- Information Checklist/Questions to Ask
- Assemble the Team
- Exit Strategy/ Plan Outline
David Koha, Esq., Casner & Edwards LLP , Boston
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2:55 - 3:20 pm
The Role of the Financial Professional
on demand video Add to Cart- Financial statements and reports upon filing and pre-confirmation
- Projections for confirmation
Matthew R. Flynn, Verdolino & Lowey, PC , Foxborough
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3:20 - 3:45 pm
First Day Filings
on demand video Add to Cart- Financial Disclosures unique to Subchapter V
- Authority to Continue Operating: Cash Collateral Usage, Paying employees, critical vendors, taxes, and insurance, utilities
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3:45 - 4:10 pm
Subchapter V Timeline and the Role of the Subchapter V Trustee and UST
on demand video Add to Cart- Conferences
- Reporting
- Role of UST
- How Trustee is paid
Kara S. Rescia, Esq., Rescia Law, PC , Enfield
Lisa Tingue, Esq., Office of the US Trustee , Worcester
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4:10 - 4:35 pm
Plan Confirmation and Consummation
on demand video Add to Cart- Consensual v. non-consensual plans
- Solicitation and voting
- Cram down scenarios
- Mortgage modification
- Plan distributions and payments, and the continuing role of the Subchapter V Trustee
Taruna Garg, Esq., Murtha Cullina LLP , Stamford
David Koha, Esq., Casner & Edwards LLP , Boston
Kara S. Rescia, Esq., Rescia Law, PC , Enfield
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4:35 - 4:45
Subchapter V Amendments
on demand video Add to Cart- CARES Act
- Appropriations Act of 2021
David A. Mawhinney, Esq., Standing Chapter 13 Trustee (Central & Western Divisions) , Worcester
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4:45 - 5:00 pm
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- Faculty