Session topics during Part 1 of this program include:
1. Subchapter V
a. Overview of Subchapter 5
b. Amendment by the CARES Act and Consolidated Appropriations Act
c. Key distinctions from typical Chapter 11 practice
d. Strategies for Debtors and Creditors in Subchapter V cases
2. The Effect of COVID-19 on Bankruptcy Practice
a. Revisions to the Bankruptcy Code: CARES Act and Consolidated Appropriations Act
b. Effects on filings across chapters
c. Remote Bankruptcy Court practice
d. Access to justice issues
3. Retail and Real Estate
a. Intersections and symbiosis of retail and real estate companies
b. Leases in bankruptcy basics
c. Major retail cases from 2020
Session topics during Part 2 of this program include:
1. Cannabis Business Insolvency
a. Overview of state and federal law
b. Barriers to bankruptcy
c. Alternative restructuring options: ABCs and Receiverships
2. Liquidating Trusts
a. Overview of the role of liquidating trusts in Chapter 11 cases
b. Tax benefits and compliance requirements
c. Traps for the unwary and areas of uncertainty
3. Conflicts andn Other Ethical Issues
a. Overview of Code section 327, Rule 2014, Conflict Searches and Disclosure Duties
b. Ethical issues for Official Committees of Unsecured Creditors
In our opening panel, join industry experts for a roundtable discussion on the havoc that the pandemic has wreaked on the gaming, hospitality, and movie theater industries. When will the entertainment sector recover?
Join us for a discussion of cutting-edge issues arising in recent chapter 11 cases, including post-petition interest for general unsecured creditors, third party plan injunctions, and a discussion of the rise of DIP-to-Exit financing facilities in recent mega cases.
The Faraday Story – Navigating Challenges, Successes, and the Future
A Conversation with Carsten Breitfeld, CEO of Faraday and Jack Butler, CEO of Birch Lake
During this two-part bankruptcy tax program the panel of insolvency tax experts will assess challenges still facing big corporations after implementation of the CARES Act and new opportunities from tax laws passed in 2020. Judge Wallace will present on his continuing views from the bench and open up for questions. A discussion on big data and how the IRS continues to improve on using data analytics to do more with less will round out the first session. In part two we will get an annual review and update to Chapter 7 and 11 basics including a discussion on single member LLCs followed by a presentation on the hidden tax dangers in bankruptcy. New speakers to the group will present ideas for tax planning for insolvency and discharge of indebtedness. A discussion on common tax problems experienced when preparing partnership tax returns in bankruptcy will conclude this year’s program.
In part two we will get an annual review and update to Chapter 7 and 11 basics including a discussion on single member LLCs followed by a presentation on the hidden tax dangers in bankruptcy. New speakers to the group will present ideas for tax planning for insolvency and discharge of indebtedness. A discussion on common tax problems experienced when preparing partnership tax returns in bankruptcy will conclude this year’s program.
Bankruptcy-related disputes are particularly well suited for mediation. This panel will discuss the history of mediation and how it has evolved in the bankruptcy arena, different types of mediation and mediators, and the various issues that are raised in mediation including confidentiality. The panel will also discuss how the pandemic has affected mediation and the dynamics of remote mediations through virtual spaces such as Zoom. Join us for a lively discussion by highly accomplished professionals who will draw on their experiences and observations generally and in some recent cases that have benefitted from mediation.
As the rapidly growing $13.0+ billion cannabis market remains quasi-legal in the U.S., federal bankruptcy options remain off-limits. This interactive panel will discuss recent cases and explore frontier business and legal issues facing struggling cannabis and cannabis-related businesses, and their creditors. Additional topics will cover the status of federal criminalization of cannabis, banking issues, creditors rights, and receivership, along with today’s most likely path to restructuring.
During this keynote presentation, Mr. White will speak to the U.S. macroeconomic outlook and how it is expected to impact household credit over the next year or two. That would include a look at how the drawdown of the pandemic is giving way to economic recovery and what role federal stimulus will have as a part of that process.
Join us for our annual awards presentation where we will recognize the Manny Katten Award recipient, the inaugural class of Distinguished Fellows, and the CIRA medal and certificate recipients.
Unprecedented government stimulus programs have been a lifeline for many businesses and industries. However, vigilance over a wide range of increased fraud during today’s financially challenging pandemic times is critical: healthy companies have become stressed, and stressed companies have become distressed. As time and liquidity run short, incidences of financial fraud increase. This panel will focus on the intersection of economic distress and fraud schemes targeting government stimulus funds.
The restaurant industry is tough even in the best of times. During the pandemic, restaurant bankruptcies and closures have been an all too common sight. Surviving financial distress from COVID-19 in the restaurant industry requires innovation, capital and high level restructuring skills. This panel will explore key issues in restaurant restructurings, how restaurants can navigate the challenges posed by the pandemic, and the future landscape for successful restaurants.
Efficient and cost-effective post-confirmation winddown of debtors’ estates has become critically important in the modern chapter 11 landscape dominated by upfront asset sales and an accelerated plan process. We will highlight the importance of involving the proposed post-confirmation professionals at the earliest stage possible, identify common issues faced by plan administrators and liquidating trustees, including new case studies, common tax issues and strategies, and litigation funding, and discuss practical solutions and pragmatic advice based on our panelists’ collective decades of experience.
Many segments of the healthcare industry were negatively impacted by COVID and propped up by stimulus funds during the pandemic. This panel will discuss the stressors on the industry, including the impact of COVID, the uncertainty of the treatment and repayment of certain stimulus funds and what happens when the money runs out. The panel will also explore the business and legal complexities surrounding restructurings and sales in the healthcare space, including the tension between regulatory oversight of the industry and the goals of bankruptcy generally, sales of non-profits to for profits, leasing arrangements and the bankruptcy court’s arguably limited jurisdiction to address certain sale related issues.
Our panel of industry experts will review cutting-edge issues affecting vendors in Chapter 11, including best practices pre-petition. They will also provide their insider tips on protecting post-petition and reclamation vendor receivables, drawing on their experience in recent major retailer bankruptcies including Forever 21, Gymboree, Ascena, and others.
Special situations and special opportunities have been made even more "special" by the Covid-19 pandemic. Many industries, if not all, have faced the fall-out challenges of managing liquidity, increasing survivability and more, all in a uniquely unprecedented historical time of uncertainty. Join this panel of capital management and financial advisors to get their individual takes on the day-to-day challenges they have seen and navigated in the past year including strategies and lessons learned going forward.
During this session, the panel will discuss recent trends in the aviation industry including the recent bankruptcy filings by foreign airlines (AeroMexico, LATAM, Avianca) in the United States. Panelists include current and former airline executives, counsel to an aircraft lessor, a representative of an aviation lender and an industry consultant. The panel will explore the complex issues that arise with respect to aviation lending and restructurings and address the potential for continuing distress in this industry.
Whether in pre-filing negotiations, an adequate protection fight, or a contested confirmation proceeding, valuation is a critical piece of the chapter 11 process. Panelists will discuss the implications of COVID-19 and other recent events on various valuation methodologies and provide insight on how stakeholders and courts have addressed valuation and feasibility amidst broader disruption and uncertainty in the marketplace.
A Chief Restructuring Officer (CRO) can be transformative for a company in financial distress. This session will examine the role of the CRO and how it has evolved through the pandemic. The panel of experienced restructuring advisors will draw on their collective experiences to provide insight into what makes an effective CRO and how to best navigate the competing interests of various stakeholders while successfully leading a company’s restructuring efforts.
As this conference was going to be in person in California, it was very fitting to discuss the multitude of wildfires in California in the past several years that have devastated many communities and wreaked havoc on the wine industry in particular. From a restructuring perspective, the PG&E bankruptcy case has brought interesting perspectives on liability and tort claims. Wildfires are becoming an annual occurrence in California wine country, and our panel will discuss how it has affected operations, wine-making, and wine vintages.
Lenders provided six to eighteen months of relief last spring as the economy shut down due to the pandemic. Our panelists will speak to the retail environment with store closures and deferred rents, as well as how working from home will impact the market into the future beyond the pandemic. In addition, there is roughly $400 billion of commercial real estate debt coming due this year as compared to $100 billion of corporate bonds and loans.
A panel of bankruptcy judges informally answer and discuss practitioners’ questions of dos and don’ts, best practices, their outlook for bankruptcy cases, and other topics that may be of interest to the group.
Two Subchapter V Trustees, a financial advisor and a US Bankruptcy Judge share their perspectives a year after the enactment of the Small Business Reorganization Act (“SBRA”) . The Panel will discuss reasons for the enactment of the SBRA, the main differences between a standard Chapter 11 case and an SBRA case, and the ways in which financial advisors can serve a vital role in these cases.
During our final session, the panel will address the issues that should be considered before accepting a board position, as well as what should be top of mind as a board member. Who/what does the board serve? How can board performance be improved? When should directors resign/not resign? Are many boards doing a less than adequate job? If so, why? What to expect when the company files bankruptcy or is in the planning stages?
About AIRA
AIRA is a nonprofit professional association serving the bankruptcy, restructuring and turnaround practice area. AIRA's membership consists of accountants, financial advisors, investment bankers, attorneys, workout consultants, trustees, and others in the field of business turnaround, restructuring and bankruptcy. AIRA members are among the most trusted and sought-after professionals in matters dealing with limited capital resources and deteriorating operating performance.
Cancellation/Refund Policy
Refunds and Cancellations Policy—Cancellations made 3 or more days prior to a webinar are eligible for a refund, less a $25 cancellation fee. No refunds will be given for cancellations received less than 3 days prior to a webinar. Substitutions are allowed with written notice at least 3 days in advance of the webinar.
National Registry of CPE Sponsors
"Association of Insolvency and Restructuring Advisors" is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org/.
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