Chapter 11 Fundamentals: Debtor-In-Possession Financing and Use of Cash Collateral
A live 60-minute CLE video webinar
This CLE webinar will guide new bankruptcy lawyers through the must know issues related to debtor-in-possession (DIP) financing and the use of cash collateral in Chapter 11 cases.
Outline
- Introduction: statutory requirements
- Cash collateral
- What is cash collateral?
- What is adequate protection?
- Court approval, hearing, notice
- Creditor considerations for consenting to use of cash collateral
- Impact of intercreditor agreements
- Budget issues
- Methods of providing adequate protection
- Critical provisions in cash collateral orders
- DIP financing
- Rollover of pre-petition secured debt
- Cross-collateralization
- Priming liens
- Liens or super-priority claims on avoidance actions
- Releases and waivers of challenges to liens and other future borrowings
- Section 506(c) waivers
- Junior DIP financing
- "Carve-out" for professional fees
Benefits
The panel will review these and other key issues:
- What is adequate protection?
- What terms in DIP or cash collateral orders may have the most long-term effect on creditor recovery?
- How does Bankruptcy Code Section 552 operate?
- What are red flags in the debtor's 13-week budget?
- Can debtors push back against overreach by secured lenders?
Faculty
Stephen B. Selbst
Partner
Herrick, Feinstein
Mr. Selbst has more than 30 years of experience representing debtors, creditors, official committees, distressed... | Read More
Mr. Selbst has more than 30 years of experience representing debtors, creditors, official committees, distressed investors and asset purchasers in bankruptcies and out-of-court restructurings. He is a frequent lecturer on bankruptcy and restructuring topics and has published articles and book chapters on bankruptcy-related topics. He has been frequently quoted in newspaper articles on insolvency related topics and has appeared on CNBC.
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Steven B. Smith
Partner
Herrick, Feinstein
Mr. Smith focuses his practice on complex corporate restructuring and creditors' rights, including in court Chapter... | Read More
Mr. Smith focuses his practice on complex corporate restructuring and creditors' rights, including in court Chapter 11 cases and out-of-court workouts. He represents official and ad-hoc creditor committees, secured lenders, administrative agents, and other parties-in-interest in restructuring matters. He is experienced in analysis of true sale, non-consolidation and bankruptcy remoteness principles.
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