Events

Strafford CLE Webinar: Responding to TOUSA III

July 11, 2012

This CLE webinar will provide bankruptcy attorneys with an analysis of the most recent 11th Circuit TOUSA ruling, discuss the impact of the ruling on practices of commercial lenders and other market participants, and outline best practices for secured lenders dealing with distressed companies.

Description

The 11th Circuit Court of Appeal’s recent TOUSA III ruling dealt a blow to syndicated lenders that provide rescue financing to distressed companies. The court agreed with the bankruptcy court’s ruling that a post-insolvency amendment to an existing credit agreement constituted a fraudulent transfer.

While a victory for creditors, there are a number of issues that were not subject to the appeal and thus remain unsettled. There are lessons for lenders from this protracted litigation.

Practitioners must be well versed on the ramifications of the TOUSA developments on rescue financings, liens on subsidiary assets, and the future of fraudulent conveyance litigation.

Listen as our authoritative panel discusses the 11th Circuit’s ruling in TOUSA III and its impact on rescue finance transactions, loan documentation, and the future of fraudulent transfer litigation.

The panel will review these and other key questions:

• What challenges and pitfalls remain for secured lenders after the recent TOUSA ruling?
• What is the effect of saving clauses in loan documents and guaranties post-TOUSA?
• How will a post-insolvency amendment to an existing revolving credit facility agreement impact the fraudulent transfer analysis?

Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.

Faculty

Thomas J. Hall, Partner
Chadbourne & Parke, New York
He is Co-Head of the firm’s Commercial Litigation Practice and has extensive experience in complex litigation matters such as banking, securities, project finance, real estate, corporate governance, partnership and contract disputes. Benchmark's 2010 Guide to America's Leading Litigators recognizes him among the 75 leading commercial litigators and 25 leading bankruptcy litigators in the country.

Thomas J. McCormack, Partner
Chadbourne & Parke, New York
He is a trial lawyer with over 25 years of experience handling complex commercial, securities and class action litigations. During the course of his career, he has tried a wide range of cases, involving multi-billion dollar energy supply contracts, bank loans, joint venture agreements, corporate governance and securities claims, drug development projects and many others.

Seven Rivera, Partner
Chadbourne & Parke, New York
His practice involves all aspects of bankruptcy and restructuring representing both secured and unsecured lenders, creditors, debtors and creditor committees in complex and high-profile Chapter 11 cases. He also represents buyers and sellers in sales and other asset dispositions both in and outside formal reorganization proceedings and provides bankruptcy advice concerning corporate transactions.

For more information or to register, please visit the Stafford website: Stafford Webinar Registration