Continuing Legal Education

Practice Advice for Mom and Pop Company Chapter 11s

October 19, 2012
8:55 a.m. – 4:30 p.m.
6.00 MCLE hours
Presented by Commercial Banking, Collections, and Bankruptcy

Chicago
ISBA Chicago Regional Office
20 S. Clark St, Suite 900
(map and directions)

Because small business owners turn to you for advice when the family business fails, it is important that you understand the basics of a Chapter 11 bankruptcy with a small business debtor. Join us for a full-day seminar that brings you up to speed on current Chapter 11 details, including: voluntary petition; statements of financial affairs; monthly reports/quarterly fees; leases and executory contracts; retaining key suppliers and employees; liquidation analysis; burden of proof; and cramdown. Business advice attorneys, financial planning practitioners, and commercial banking/bankruptcy lawyers attending this seminar will gain a better understanding of:

  • Whether Chapter 11 will work for your client and other options to consider;
  • Case administration issues and filing requirements;
  • The standard set of motions a bankruptcy case may go through;
  • Retainer fees and how to get paid;
  • Issues that can arise with creditors;
  • Disclosure statements and drafting a plan;
  • The confirmation hearing; and
  • Substantial Consummation, the final order for payment, and closing the case.
Please Note: Prior to the program, you will receive a weblink via email allowing you to access the course materials prior to the program. You will also receive a copy of the course materials (for no additional charge) when you arrive at the program, but will need to check the appropriate box on the registration page letting us know if you prefer a flash drive or printed course book.

 

Program Coordinator/Moderator:
Kent A. Gaertner, Springer, Brown, Covey, Gaertner, & Davis, LLC, Wheaton

 

 

Agenda

8:55 – 9:00 a.m.  Introduction and Opening Remarks
Kent A. Gaertner, Springer, Brown, Covey, Gaertner, & Davis, LLC, Wheaton

9:00 – 9:45 a.m.  Is A Chapter 11 Right for Your Debtor?
As an attorney working in the bankruptcy arena, it is important that you understand which type of resolution is appropriate for your client. This session helps you determine which cases will benefit from a Chapter 11 bankruptcy and also explores your client’s other options. Deciding whether to make the Small Business Election is also discussed.
Michael J. Davis, Springer, Brown, Covey, Gaertner, & Davis, LLC, Wheaton
Stephen G. Wolfe, Office of the U.S. Trustee, Northern District of Illinois, Chicago

9:45 – 10:45 a.m.  Early Issues in Chapter 11: Case Administration Issues
This segment offers a thorough understanding of the case administration responsibilities, as well as the issues that can arise early on in a Chapter 11 case. Topics include: filing requirements; voluntary petition; statements of financial affairs; U.S. Trustee requirements; monthly operating reports/quarterly fees; Section 341(a) meeting of creditors; and creditors' committees. A discussion on attorney retainer fees and getting paid is also included.
Joseph A. Baldi, Baldi, Berg & Wallace, Ltd., Chicago
Stephen G. Wolfe, Office of the U.S. Trustee, Northern District of Illinois, Chicago

10:45 – 11:00 a.m.  Break (beverages provided)

11:00 a.m. – 12:00 p.m.  Early Issues in Chapter 11: “First Day” and Other Motions
There are a number of standard motions a bankruptcy case may go through – from extending time for filing schedules and statement of affairs, to decisions of about leases and executory contracts. This presentation explores a number of these issues, including: employment of attorneys, accountants, and other professionals; cash collateral; assuming/rejecting executory contracts; and interim compensation for attorneys and other professionals.
John H. Redfield, Crane, Heyman, Simon, Welch & Clar, Chicago

12:00 – 1:00 p.m.  Lunch (on your own)

1:00 – 1:45 p.m.  Creditor Issues
Learn what type of issues can arise with creditors during a Chapter 11 case with this informative session! Topics include: retaining key suppliers; retaining key employees; administrative expense claims; reclamation issues; and setoff issues.
William S. Hackney III, SmithAmundsen, LLC, Chicago

1:45 – 2:45 p.m.  The Disclosure Statement and Plan
Join us for a discussion on disclosure statements and drafting a plan to discover what must be included in the documents, how to assign classes, how to obtain approval of the disclosure statement, and getting the plan out for a vote. Financial projections, plan feasibility, and liquidation analysis are also included in the discussion.
Michael J. Davis, Springer, Brown, Covey, Gaertner, & Davis, LLC, Wheaton

2:45 – 3:00 p.m.  Break (refreshments provided)

3:00 – 4:00 p.m.  The Confirmation Hearing
Gain a better understanding of how the confirmation hearing works – from confirmation requirements and ballot report, to burden of proof, cramdowns, and who should/must testify.
Hon. John H. Squires, Springer, Brown, Covey, Gaertner, & Davis, LLC, Wheaton

4:00 – 4:30 p.m.  Substantial Consummation, Final Motions and Closing the Case
This comprehensive overview explores a number of end-of-case issues, including substantial consummation, final motions, modifying the plan post-confirmation; final order for payment of professionals; and closing the case.
Konstantinos T. Sparagis, Law Office of Konstantine Sparagis P.C., Chicago