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Recent Trends in the Credit Bidding of Assets and Cross- Border Issues


Level: Intermediate
Runtime: 56 minutes
Recorded Date: December 06, 2019
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Agenda

        • Credit Bidding
                - In U.S.
                - In Canada
                - European Union
        • Valuation
        • Financial Issues
        • Collateral
        • Additional Security for Lenders
        • Secured Lenders
        • Pros & Cons of Credit Bidding

Runtime: 56 minutes
Recorded: December 6, 2019



Description

This panel will explore recent cases and trends of credit bidding in chapter 11 cases. Many lenders are now requesting up-front approval of credit bid rights in debtor-in-possession financing orders, which would curtail the bankruptcy court’s ability to modify or limit credit bidding rights under Bankruptcy Code ? 363(k) later on when the assets are auctioned. The panel will examine recent decisions on credit bidding and what limitations courts have applied to a secured creditor’s right to credit bid in bankruptcy cases. The panel will also explore cross-border issues concerning credit bidding on groups of assets that are be owned by foreign entities, and the interplay between courts concerning the sale of these types of assets.

This program was recorded on December 6th, 2019.

Provided By

American Bankruptcy Institute

Panelists

Kaitlin R. Walsh

Special Counsel
Mintz Levin, Cohn, Ferris, Glovsky and Popeo, PC

Kaitlin R. Walsh is special counsel with Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. in New York, where her practice in bankruptcy law is focused on complex corporate restructurings and insolvencies. She represents indenture trustees, secured lenders, debtors, trade vendors, purchasers, and other parties-in-interest in chapter 11 reorganizations, out-of-court restructurings and bankruptcy litigation.

Ms. Walsh’s restructuring experience spans a variety of industries and includes health care, energy, gaming, real estate, retail, insurance and education. She has been listed in New York Super Lawyers as a Rising Star – Bankruptcy: Business from 2015-18, and she is Communications co-chair of the International Women’s Insolvency & Restructuring Confederation, as well as a member of the Turnaround Management Association, American Bar Association and New York State Bar Association.

Ms. Walsh is admitted to practice in New Jersey and New York, and before the U.S. Court of Appeals for the Second Circuit and the U.S. District Courts for the District of New Jersey and the Southern and Eastern Districts of New York.

Ms. Walsh received her B.A. from Rutgers University and her J.D. from New York University School of Law.

Michael S. Neumeister

Associate Attorney
Gibson, Dunn & Crutcher, LLP

?Michael Neumeister is an associate in the Los Angeles office of Gibson, Dunn & Crutcher. He is a member of the Business Restructuring & Reorganization Group and the Corporate Department.

Mr. Neumeister has a wide array of experience in representing clients in bankruptcy and restructuring matters in many different industries. His representations have included representing debtors and lenders in in-court and out-of-court restructurings, and buyers in large and small bankruptcy sales. Mr. Neumeister also has a broad range of experience litigating bankruptcy and other distressed debt issues in bankruptcy court, state court, and in courts of appeal.

Mr. Neumeister is currently a member of the Financial Lawyers Conference, the American Bankruptcy Institute, Turnaround Management Association, and the Los Angeles County Bar Association. He has also been named a "Rising Star" in the field of Bankruptcy & Creditor/Debtor Rights by Super Lawyers Magazine since 2013.

Mr. Neumeister received his Juris Doctor in 2010 from the University of Southern California Law School, where he graduated as a member of the Order of the Coif and served as a Senior Content Editor for the Southern California Law Review. While in law school, Mr. Neumeister also held a judicial externship with the Honorable Sandra S. Ikuta of the United States Court of Appeals for the Ninth Circuit. He received his Bachelor of Arts degree with honors in 2006 from the University of California, San Diego.

Mr. Neumeister is admitted to practice in the State of California.

Nalatlie E. Levine

Partner
Cassels Brock & Blackwell, LLP

Natalie E. Levine is a partner in the Restructuring & Insolvency Group at Cassels Brock & Blackwell LLP in Toronto. As a former U.S. practitioner, her strength is in working with U.S.-based clients to understand the challenges of the Canadian insolvency landscape and to develop solutions in complex proceedings.

Ms. Levine’s practice focuses on corporate restructurings, with an emphasis on debtors, DIP lenders and informal committees in cross-border proceedings. Her restructuring matters encompass a variety of industries, including mining, oil and gas, retail, manufacturing, transportation and entertainment.

Ms. Levine received her B.A. in history and political science fromWashington University in St. Louis in 2004 and her J.D. from Columbia University in 2007, where she was a Harlan Fiske Stone Scholar.

Rafael X. Zahralddin-Aravena

Shareholder
Elliott Greenleaf

Rafael X. Zahralddin-Aravena is a business lawyer and litigator with significant experience advising businesses in corporate and commercial litigation, insolvency, distressed M&A, compliance, corporate formation, corporate governance, commercial transactions, cyber law, regulatory actions, and cross-border issues. He is the chair of the firm’s Commercial Bankruptcy and Reorganization Practice and is a member of the firm’s Board of Directors. In 2007, he founded the firm’s Wilmington, Delaware office which specializes in business law and litigation in all federal and state courts, as its first Managing Shareholder.


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