Tuesday, May 18 - continued
18046. Bad Debt, Real World Tips and
Tools to Minimize Your Losses
18042. Creditors’ Committees
Moderator: Tom Corbett, Marsh Trade Credit
A panel of credit executives and subject experts discusses the techniques
that can be employed to minimize financial losses. Risk mitigation strategies
and short- and long-term tools for minimizing bad debt losses are further highlighted. The panel addresses security agreements, guaranties, credit insurance, credit default swaps, receivable puts and more. In addition, counterparty
risk—the risk that the entity you buy credit protection from has the ability to pay
in the event of a loss—is explored.
Speakers: anda Borges, Esq., Borges & Associates, LLC,
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Bruce Nathan, Esq., Lowenstein Sandler PC and
Val Venable, CCE, SABIC Innovative Plastics
It is a new bankruptcy world. The traditional methods used by traditional creditors’ committees are no longer the most effective. This program focuses on
how creditors’ committees can protect unsecured creditor rights, identify and
recover value for unsecured creditors and increase their leverage in a far faster Chapter 11 process than traditionally experienced. The economic downturn and credit crunch, the increased participation of non-traditional lenders
with “loan to own” strategies, changes under the 2005 BAPCPA bankruptcy
amendments and the increased reluctance of lenders to support a financially
distressed customer’s restructuring efforts have changed Chapter 11 as we
know it. As the traditional restructuring of a debtor’s business, at one time the
hallmark of Chapter 11, has been replaced by Chapter 11s that move much
faster through prepackaged or pre-negotiated plans or Bankruptcy Code Section 363 sales, traditional committee activities and actions have become ineffective. Committees are being forced to adapt to the new realities of Chapter 11
practice to protect the interests of unsecured creditors. Topics for the program
include how creditors are selected for committee membership, the advantages
and disadvantages of serving on a committee, the trend of committee members
with conflicting interests (including trade, Section 503(b)(9) claimants, bond,
union, PBGC and landlords) and the role of committee professionals and their
interaction with members. The program also includes an in-depth discussion
of tools available to committees to extract value for unsecured creditors, such
as opposing sales; considering conversion or dismissal of cases, terminating
plan exclusivity, litigating plan confirmation requirements and financial valuations; investigating and pursuing preference, fraudulent transfer, breach of
fiduciary duty and related claims against secured lenders, insiders and other
third parties; and dealing with Section 503(b)(9) 20 day goods priority claims
and trade preference claims.
18043. Pragmatic Approaches to
Quickly Analyze Large Credit Risks
Moderator: Al Carmenini, CreditRiskMonitor
Panel: d Bell, Ph.D., CBA, CICP, W.W. Grainger, Inc., Camilo Gomez, Ph.D.,
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Lone Pine Mesa Consulting and Larry O’Brien, CCE, CICP, Potash Corp.
A team of experts presents case studies to illustrate time-proven techniques
they personally use to quickly analyze the financials of large companies. Learn
best practices for quantifying associated risk and matching it to your own company’s risk threshold. The panel will also share tips and techniques to proactively satisfy the challenging risk analysis CFOs demand today. They will impart
their expertise,