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Program Details
On Demand

Responsibilities. And Liabilities When a Company is in Distress. And, How to Prepare for a Meeting with Your Lender



Content Partner:  Celesq AttorneysEd Center
Price: $200.00*

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Description: When a company is doing well, creditors are happy and may not scrutinize common practices of management or of the board. But, when a company is in distress, you can expect a call from your lender requesting a meeting. And, if the company may be unable to pay creditors in full, creditors may conduct a forensic examination and pursue alternative sources of recovery- such as officers and directors.
 
  1. When does incorporation not prevent personal liability for a company’s debts?
  2. How should the board of directors operate when a company is in distress so as to avoid personal liability?
  3. How should a company prepare for negotiations with its lenders when it needs relief under loan documents?
 
This program will examine best practices for management and the board to facilitate a successful financial restructuring and to avoid personal liability.
 
 
Presenter Bios 
 
Kenneth Rosen - With more than 35 years of proven experience, Ken is the first call for companies seeking a strategic plan for recovery from financial distress. 
 
Ken advises on the full spectrum of restructuring solutions, including Chapter 11 reorganizations, out-of-court workouts, financial restructurings, and litigation. He works closely with debtors, creditors' committees, lenders, landlords, and others in such diverse industries as paper and printing, food, furniture, pharmaceuticals, health care, and real estate. 
 
For each matter, Ken starts by developing a strategic direction based on a clear understanding of his client's needs. His goals are to preserve the business or business relationship, to minimize disruption, and to move quickly toward a workable solution. His success is reflected both in his long list of accolades—including top rankings from Chambers USA (2008-2020) and The Deal's "Bankruptcy Insider"—and the fact that the majority of his practice is referral-based. Clients laud Ken's practical approach and sensitivity to the needs of their business, as well as his strong track record of successful outcomes. Clients and peers alike recognize Ken as "definitely a standout." 
 
In his spare time, Ken serves on several philanthropy and nonprofit boards primarily devoted to health care and education. He currently serves as Interim Chair of the Board of the New York City Opera. 
 
 
 
Jennifer Kimble is a corporate restructuring attorney with more than a decade of experience representing Chapter 11 debtors, creditors’ and retiree committees, Chapter 7 trustees, and other creditors in bankruptcy proceedings, preference actions, commercial transactions, commercial litigation, and out-of-court restructurings. She has extensive experience in all aspects of Chapter 11 cases, including first day motions, noticing issues, negotiating DIP financing, 363 sales, contract assumption, 1113/1114 matters, and plan confirmation and implementation. She is skilled in claims resolution processes and well-versed in post-confirmation trusts and the litigation of Chapter 5 claims. 
 
Jennifer offers proven skill in insolvency-related matters in the automotive industry. She has represented original equipment manufacturers and tiered suppliers in negotiating and resolving contract issues, financial disputes, tooling ownership, and other bankruptcy and litigation actions with manufacturers’ sole source suppliers to maintain just-in-time delivery. 
 
A responsive and engaged team player, Jennifer takes the time to understand how each client defines success. She is adept at consolidating details into comprehensive solutions that support client objectives. Jennifer excels at helping companies achieve the best possible outcome during the restructuring process by analyzing and applying bankruptcy law in the context of an insolvency event. 
 
Prior to joining the firm, Jennifer worked with a leading bankruptcy claims and noticing firm and with various commercial law firms.
 
Mary E. Seymour has a broad range of experience advising clients on bankruptcy and restructuring matters. Her practice involves all aspects of in-court and out-of-court restructuring of financially distressed businesses, including the representation of corporate debtors, official and unofficial creditors' committees, significant stakeholders, and third-party purchasers.
 
Mary recently represented Binder & Binder, the nation's largest Social Security and veterans' disability advocacy firm, and 23 related entities in their Chapter 11 cases. She has been involved in numerous other high-profile Chapter 11 cases and out-of-court restructurings across a range of industries, including energy, communications, media, paper and printing, and transportation. Her current and recent clients include Binder & Binder (NY), Love Culture, Big M (parent company of Mandee's and Annie Sez), Roomstore, American Community Newspapers, and Ponderosa Pine Energy Partners.
 
Mary also represents creditors' committees in numerous Chapter 11 cases, with a focus on identifying and obtaining value for general unsecured creditors. Recent committee representations include Taylor-Wharton Industrial, Holsted Marketing, Blitz U.S.A., Hayes Lemmerz, Lear Automotive, Marcal Paper Mills, and Ronson.
 
Mary also served as special counsel to the Hoboken Municipal Hospital Authority (the only municipal hospital authority in the state of New Jersey), leading a team from Lowenstein Sandler in the successful sale of the authority's assets and the resolution of a potential $60 million bond default by the city of Hoboken.



Practice Areas: Banking & Finance Law, Bankruptcy & Creditors Rights, Business Organizations & Contracts
Online Media Type: Audio
Production Date: 12/21/2021
Level: Intermediate
Category: Standard
Duration: 1 Hours, 6 Minutes
Online Format: On Demand
Course Type: Public

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Purchase of this product provides online access for 180 days. If you are purchasing a live webcast, you will receive complimentary access to the on demand version for 180 days once it becomes available. Please note that the on demand and podcast versions may, or may not be accredited in your state.

If you intend to take a course for CLE credit, please make sure your state is listed in the "Accreditation" section to the upper right of the program description. Accreditation displayed is unique to the purchased program format (live conference, live webcast, on demand, podcast). Credit totals listed for live conferences are the maximum credits available. Credits issued will be based upon actual time in attendance.  Credit totals for other formats are for complete programs.  Partial credit is not available for any online or downloadable format. 

 

West LegalEdcenter will not provide accreditation for states not listed. 



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Credit Eligibility:
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AB, AK, AL, AR, AZ, CA, CEU, CLP, CO, CT, GA, GU, IN, MO, MS, MT, ND, NF, NH, NJ, NM, NS, NT, NU, NV, NY-EXPER, NY-TRANS, OK, PE, UK-BSB, UK-SRA, UT, VI, VT, WV, YT
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Total Credits: 1
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Status: Reciprocal Credit Available
Expiration: 12/20/2024
Training Type: Online

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Speakers:
Kenneth A. Rosen - Lowenstein Sandler PC; Roseland, N.J.
Jennifer B. Kimble - Lowenstein Sandler LLP; New York
Mary E. Seymour - Lowenstein Sandler LLP
This product is designed to provide information in regard to the subject matter covered. It is sold with the understanding that the publisher is not engaged in rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent professional person should be sought.


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