ABI Bankruptcy Conference News (Dealscape)

ABI Bankruptcy Conference

ABI Bankruptcy Conference: Liquidations trump prepacks

[Posted on May 7, 2007 at 4:38 PM]

E-mail | Leave a Comment
Filed under: ABI Bankruptcy Conference

Complicated debt structures have led to a decrease (and maybe extinction?) of prepackaged Chapter 11 filings and, at the same time, more bankruptcy court liquidations, said a panel at the American Bankruptcy Institute's New York City Conference Monday. The panel was discussing whether debtors today are better off selling assets in an auction under Section 363 of the federal bankruptcy code or filing a reorganization plan. "Chapter 11 is inefficient, expensive and a last resort," said Randy Lay at Buccino & Associates Inc. "The difficulty today is so many folks own a slice of the company's liabilities that you...

ABI Bankruptcy Conference: Hedge funds change Ch. 11 landscape

[Posted on May 7, 2007 at 3:48 PM]

E-mail | Leave a Comment
Filed under: ABI Bankruptcy Conference

Hedge funds have changed Chapter 11 restructurings because they have "created or added to a multiplicity of agendas" in bankruptcies by investing in ways that traditional banks never thought to years ago, said Stephen F. Cooper, the chairman at Kroll Zolfo Cooper LLC, at a session Monday on hedge funds at the American Bankruptcy Institute's New York City Bankruptcy Conference. "I think that they have certainly changed the dynamics of the [restructuring] business," Cooper said. "A few years ago, banks and vendors were the only third parties involved, and bankruptcies were more predictable."...

ABI Bankruptcy Conference: DIP split

[Posted on May 7, 2007 at 1:41 PM]

E-mail | Leave a Comment
Filed under: ABI Bankruptcy Conference

There appears to be a schism within the debtor-in-possession lending community. During a panel discussion at Monday's American Bankruptcy Institute New York City Bankruptcy Conference, some said DIPs are now light on covenants, while others said they are more demanding. Either way, the conclusion seems to be the same: The debtor will lose....

ABI's Ninth Annual New York City Bankruptcy Conference

[Posted on May 4, 2007 at 2:55 PM]

E-mail | Leave a Comment
Filed under: ABI Bankruptcy Conference

Leading restructuring officials and attorneys will join judges from the U.S. Bankruptcy Court for the Southern District of New York in Manhattan to tackle timely bankruptcy issues when the American Bankruptcy Institute convenes its Ninth Annual New York City Bankruptcy Conference on Monday, May 7, at the Millennium Broadway Hotel and Conference Center. You'll get an on-the-scene report from The Deal's John Blakeley after each of several panel discussions throughout the day. The panels Blakeley will be reporting on include a debate of the impact of first- and second-lien debt infighting on Chapter 11 restructurings, as well as how...