New Bankruptcy Law May Help Small Cos. Weather COVID-19

$95.00

CLE credits earned: 1 GENERAL (or 1 LAW & LEGAL for WA state)

In February 2020, the Small Business Reorganization Act of 2019 (“SBRA”), also known as Subchapter V of Chapter 11 of the Bankruptcy Code, went into effect. The SBRA includes a number of provisions that make Chapter 11 reorganization quicker, cheaper and more effective for businesses with total debts under $2,725,625. The recently enacted CARES Act, designed to aid businesses suffering the effects of the coronavirus, increases the debt limit to $7,500,000 for one year, which will enable a far greater number of companies to take advantage of the SBRA. This course will address the benefits provided to small businesses under the SBRA, including simpler plan procedures and substantive provisions that make it easier for small business owners to confirm a plan of reorganization and retain equity in their companies.

Key topics to be discussed:

•   Events Leading to Passage of the SBRA
•   Procedures Designed to Make Chapter 11 More Cost-Effective for Small Businesses
•   Substantive Advantages for Small Businesses Under the SBRA

Date / Time: July 30, 2020

•   2:00 pm – 3:00 pm Eastern
•   1:00 pm – 2:00 pm Central
•   12:00 pm – 1:00 pm Mountain
•   11:00 am – 12:00 pm Pacific

Choose a format:

•   Live Video Broadcast/Re-Broadcast: Watch Program “live” in real-time, must sign-in and watch program on date and time set above. May ask questions during presentation via chat box. Qualifies for “live” CLE credit.
•   On-Demand Video: Access CLE 24/7 via on-demand library and watch program anytime. Qualifies for self-study CLE credit. On-demand versions are made available 24 hours after the original recording date and are view-able for up to one year.

Select your state to see if this class is approved for CLE credit.

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Clear

Original Broadcast Date: April 16, 2020

Andrew Zaron, Esq. is a partner at León Cosgrove LLP, who focused on bankruptcy, restructuring and related commercial litigation.

Mr. Zaron has extensive experience counseling and representing clients confronting the difficult choices imposed by financial distress. Over a period of 20 years working with some of the nation’s largest and most prestigious law firms, Mr. Zaron has developed an astute, solutions-oriented practice representing virtually every party in interest in insolvency- related situations.

His aggressive representation of clients has achieved extremely favorable results, whether through settlement or final court resolution. Mr. Zaron is ranked in the Bankruptcy /Restructuring category by Chambers USA, which notes that clients call him a “fantastic attorney” who “demon-strates excellent business sense” and praise him for his “very smart” approach and his “clear and concise communications skills.

Mr. Zaron’s experience spans a wide array of clients, industries and matters. He represents debtors, secured and unsecured creditors, official and ad hoc committees of creditors, trustees, vendors, state and federal court-appointed receivers, purchasers of distressed assets, and directors and officers of troubled companies. Industries represented include real estate, construction, telecommunications, retail, hospitality, construction, health care and entertainment, among others.

Out-of-court restructurings, workouts, bankruptcy proceedings, statutory liquidations, assignments for the benefit of creditors, friendly and contested foreclosure proceedings, receivership proceedings, and asset sales under Article 9 of the Uniform Commercial Code comprise a large part of his practice. He also frequently handles claims litigation, collections actions, actions to subordinate or set aside liens, claw back actions, and actions seeking recoveries for breaches of fiduciary duties, professional malpractice and negligence.

Mr. Zaron has been the lead attorney on matters large and small, including several where the amount in controversy exceeded $1 billion.

Accreditation Policy
myLawCLE seeks accreditation for all programs in all states. (Accreditation for paralegals sought thru NALA and NFPA paralegal associations.) Each attending attorney/paralegal will receive a certificate of completion following the close of the CLE program as proof of attendance. In required states, myLawCLE records attorney/paralegals attendance, in all other states attorney/paralegal is provided with the approved CLE certificate to submit to their state bar or governing association.

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    Live Video Broadcasts

Live video broadcasts are new live CLE programs being streamed and recorded for the first time. All of these programs qualify for “Live” CLE credit in all states except NV, OH, MS, IN, UT, PA, GA, and LA —these states require in-person attendance to qualify for “Live” CLE credit.

    “Live” Re-Broadcasts

“Live” Re-broadcasts are replays of previously recorded CLE programs, set on a specific date and time and where the original presenting speakers calls in live at the end of the event to answer questions. This “live” element allows for “live” Re-broadcast CLEs to qualify for “Live” CLE credits in most states. [The following states DO NOT allow for “live” CLE credits on re-broadcast CLEs: NV, OH, MS, IN, UT, PA, GA, and LA]

Reciprocity
Many states allow for credit to be granted on a 1:1 reciprocal basis for courses approved in another mandatory CLE jurisdiction state. This is known as a reciprocity provision and includes the following states: AK, AR, HI, CT, FL, ME, MO, MT, ND, NH, NM, VT, NJ, NY, and WV. myLawCLE does not seek direct accreditation of live webinars or teleconferences in these states.

Section I. Background
a) Events Leading to SBRA
b) Eligibility to File Under SBRA
c) One Year Modification Under CARES Act

Section II. Roles of Parties
a) Continued Viability of Debtor-in Possession
b) Elimination of Creditors’ Committees
c) Automatic Appointment of Subchapter V Trustee with Limited Duties

Section III. Case Administration
a) Status Conference
b) Additional Reporting Requirements for Small Business Debtors

Section IV. Plan Process
a) Elimination of Disclosure Statement Requirement
b) Only Debtor May File Plan
c) Shortened Deadline to File Plan

Section V. Plan Confirmation
a) Cramdown of Creditors Secured by Residence In Limited Instances
b) Confirm Plan Without Affirmative Vote of Impaired Class of Creditors
c) Retain Equity Without Payment in Full to Unsecured Creditors
d) Pay Administrative Expense Claims Over Time

Section VI. Discharge

Section VII. Plan Modification