Attention:

Ethics in Health Care Insolvencies


Level: Advanced
Runtime: 72 minutes
Recorded Date: May 13, 2021
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Agenda

  • Understanding ethical implications in the context of valuing healthcare companies or providers in the age of COVID-19.
  • Understanding capital allocation between patient medical needs vs. fiscal responsibility in the face of restructuring/liquidity issues.
  • When healthcare companies or providers are distressed or insolvent

Runtime
: 1 hour, 12 minutes
Recorded: May 13, 2021

Description

Join us for a robust discussion concerning Ethics in Healthcare Insolvencies, where the panel will explore a myriad of issues, including: ethical implications in the context of valuing healthcare companies or providers in the age of COVID-19 (where we were, where we are, where we may be going); the concomitant impact on valuation of healthcare companies or providers vis-?-vis increasing the minimum wage and providing the required level of care; capital allocation between patients’ medical needs and fiscal responsibility and management as healthcare companies or providers face restructuring or liquidity issues; steps directors and officers of healthcare companies or providers should consider when they are insolvent (e.g., deciding whether to restructure or file bankruptcy; to whom do the fiduciary duties flow (e.g., to creditors, still to patients, etc.); duty to transfer patients of closing healthcare business and restrictions on transfers; termination of provider agreements or assumption and assignment; and lender issues.

This program was recorded as part of the American Bankruptcy Institute's Virtual VALCON 2021 held on May 13th, 2021.

Provided By

American Bankruptcy Institute

Panelists

Suzanne A. Koenig

President and Founder
SAK Management Services, LLC

Suzanne A. Koenig is president and founder of SAK Management Services, LLC in Northfield, Ill., a long-term care management and health care consulting services company. With more than 30 years of experience as an owner and operator, she provides specialized skills in operations improvement, staff development and quality assurance, with expertise in marketing and census development as well as operations enhancement for the whole spectrum of senior housing, long-term care and other health care entities requiring turnaround services.

Ms. Koenig’s professional experience has included executive positions in marketing, development and operations management for both regional and national health care providers representing property portfolios throughout the U.S. Recently, she has been appointed as the patient care ombudsman, receiver, examiner and chapter 11 trustee in several health care bankruptcy filings (chapters 11 and 7) under BAPCPA, including physician practices and hospitals. In addition, she has served in an advisory and consulting capacity for numerous client engagements involving bankruptcy proceedings, as well as in turnaround-management situations. An owner and operator, licensed nursing home administrator and licensed social worker, Ms. Koenig has experience as a long-term care provider and also serves as an officer and director for several of the states’ long-term-care-provider associations.

Ms. Koenig is a former co-chair of ABI’s Health Care Committee and serves on the board of directors of the Summit Healthcare REIT, Inc.. She was recently elected to the Global Turnaround Management Association’s board of trustees and serves on the board of directors for the School of Social Work at the University of Illinois, Champaign-Urbana.

Ms. Koenig also serves as an officer and director for several of the state’s long-term-care provider associations and is a co-chair for the Steering Committee of the Midwest Turnaround Management Association (TMA) Chapter. She is a frequent speaker for various health care industry associations and business affiliates, where she conducts continuing education and training programs.

Ms. Koenig received her undergraduate degree in social work from the University of Illinois, Urbana-Champaign and her M.S. from Spertus College.

Adam B. Keil

Managing Director
Moelis & Company

Adam B. Keil is a managing director at Moelis & Company in New York, where he specializes in recapitalization and restructuring advisory. He has experience advising debtors, creditors and equity-holders on a wide variety of restructuring transactions across a broad range of industries, including technology, media, telecommunications, real estate, retail and general industrials.

Prior to joining Moelis & Company, Mr. Keil spent almost eight years in the Recapitalization and Restructuring Group at Jefferies & Company. He began his career as a summer analyst at BlackRock from 1997-99.

Mr. Keil received his B.S. in economics from the Wharton School at the University of Pennsylvania with concentrations in finance and entrepreneurial management.

Timothy J. Dragelin

Senior Managing Director, Corporate Finance
FTI Consulting, Inc.

Timothy J. Dragelin, CPA, CVA is a senior managing director with FTI Consulting, Inc. in Charlotte, N.C., in its Corporate Finance practice. He is a senior member of the firm’s restructuring practice group and co-leader of the firm’s health care industry restructuring initiative.

Mr. Dragelin has provided financial advisory services to companies and various stakeholders through company lifecycles in a number of industries for 30 years, including in- and out-of-court restructurings, turnaround consultation, interim management (CEO, CFO, CRO, PMO), creditor advisory, due diligence, sellside mandates, valuation, process improvement, forensic investigations and litigation advisory. He has led engagements across a spectrum of companies, from large multinational companies to small, closely held corporations to nonprofit enterprises in the health care, real estate and financial services industries, among others.

Mr. Dragelin was previously with in the Financial Adviosry Services practice of PricewaterhouseCoopers and Capital One Financial in both financial and sales positions. He is a published author and frequent speaker on financial and accounting topics at both regional and national conferences, and he has been a guest lecturer at the McDonough School of Business at Georgetown University.

Mr. Dragelin is a member of the Association of Insolvency and Restructuring Advisors. He received his B.B.A. in accounting from The College of William and Mary in Virginia.

Jackson D. Toof

Partner
Arent Fox LLP

Jackson D. Toof is a partner with Arent Fox LLP in Washington, D.C., and has represented both plaintiffs and defendants in a wide range of commercial matters.

Rated AV-Preeminent by Martindale- Hubbell, he has been involved in all aspects of bankruptcy and financial services litigation, including pursuing and defending actions on behalf of various creditor constituencies, complex financial restructurings and valuation disputes, and he has handled all aspects of litigation-enforcing indentures and the rights and remedies of indenture trustees. He also has been involved in ratemaking determinations for digital music licenses before the Copyright Royalty Board, and he has extensive experience defending and pursuing actions in numerous areas, including a variety of business tort, contract and real estate actions, shareholder litigation, noncompete and non-solicitation litigation, probate litigation, False Claims Act/qui tam and health care matters, as well as criminal and white-collar criminal defense.

Mr. Toof has first and second chaired jury, bench and administrative trials in a variety of civil and criminal matters, and his litigation practice involves all phases of litigation from strategic business counseling and problem-solving through trial and appellate review. He serves on the firm’s Professional Conduct Committee and co-chairs the firm’s Litigation Support Committee, and was the chair of the firm’s Associates Committee from 2009–12.

Mr. Toof began his career in 2003 as a litigator while serving on active duty with the U.S. Navy’s Judge Advocate General’s (JAG) Corps. He continued his service as a Lieutenant Commander in the U.S. Navy reserve until 2012.

Mr. Toof has served as an adjunct professor at American University Washington College of Law teaching criminal procedure. He is a member of ABI and the Virginia, Fairfax County, Northern Virginia Bankruptcy, District of Columbia and American Bar Associations.

Mr. Toof received his B.A. summa cum laude and Phi Beta Kappa in 1999 from the University of New Hampshire and his J.D. in 2002 from American University’s Washington College of Law, and he graduated from the Naval Justice School in 2003.

Jeffrey N. Rothleder

Partner, Restructuring and Insolvency Practice Group
Squire Patton Boggs

Jeffrey N. Rothleder is partner in Squire Patton Boggs (US) LLP’s Restructuring and Insolvency practice group in the firm’s Washington, D.C., office, where his practice focuses on financial restructuring, corporate trust matters and workout proceedings on behalf of financially distressed companies or their creditors, including the representation of debtors, indenture trustees, creditors and creditors’ committees, investors and purchasers in in-court and out-of-court restructurings.

Mr. Rothleder represents a wide variety of clients in the enforcement of the entire spectrum of creditors’ rights involving secured, unsecured, public or private, and taxable and tax-exempt debt through his work with indenture trustees, lenders, individual creditors and official committees in chapter 11 cases. He also has experience representing debtors, including the restructuring of large companies through the chapter 11 process or conducting the orderly liquidating and comprehensive asset sales for a diverse group of companies.

Mr. Rothleder received his B.A. from the University of Michigan in 1999 and his J.D. from the University of Maryland School of Law in 2002 with honors, where he was a member of the Order of the Coif.


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