• videocam On-Demand Webinar
  • signal_cellular_alt Intermediate
  • card_travel Bankruptcy
  • schedule 90 minutes

Pre-Bankruptcy Receiverships for Distressed Borrowers: Advantages and Risks, State or Federal, Receivership Orders

Lender and Borrower Concerns, Appointment Procedures, Receiver Duties, Litigation, Impact of Bankruptcy

$297.00

This course is $0 with these passes:

CLE
ALL
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About the Course

Introduction

This CLE webinar will offer an in-depth analysis of the actual workings of state and federal receiverships, must-have provisions of receivership orders, best practices, and how to hedge the uncertainties that the debtor will file bankruptcy.

Description

Creditors dealing with distressed loans or borrowers are increasingly choosing to seek the appointment of a receiver as an alternative to the debtor's bankruptcy. Lawyers advising their clients need to adequately understand what receivership can and cannot accomplish, how both state and federal receivership work, when to select each, and what happens if the debtor files bankruptcy anyway.

The receivership order will usually govern what the receiver can do and should be carefully drafted to convey broad authority. The panel will analyze a receivership order from the perspectives of secured creditor, borrower, and third-party creditors highlighting those provisions most important to each.

Listen as our authoritative panel explains the factors that should be considered when evaluating whether to seek or oppose a receivership and best practices for navigating the receivership process.

Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.


  • Live Online


    On Demand

Date + Time

  • event

    Thursday, January 9, 2025

  • schedule

    1:00 p.m. ET./10:00 a.m. PT

  1. Advantages and disadvantages of receivership
  2. Choosing state or federal receivership
    1. Federal Priority Act
  3. Appointment of a receiver
    1. Statutory authority
    2. Lawsuit requirement
    3. Best practices when drafting the motion for appointment of receiver
    4. Jurisdictional issues
    5. Due process: ex parte hearing or a hearing on noticed motion
    6. Challenges to a receivership
    7. Right of third parties to intervene in receivership proceedings
    8. Time from which the receivership operates
    9. Managing costs
  4. Qualifications of receiver
  5. Receivership order
    1. Duties, rights, and responsibilities of a receiver
      1. Whose interests does the receiver protect?
      2. Receiver as fiduciary
      3. Receivership expenses; receivership compensation and attorney fees
    2. Investigation
    3. Property of the receivership estate
      1. Effect on title and possession of property
      2. The receiver's right to sell assets
    4. Retention of professionals, including counsel
    5. Entering into new contracts and expenditures
    6. Claims to insurance proceeds
  6. Litigation by and against the receiver and the receivership estate
    1. Receiver standing/in pari delicto
    2. Jurisdiction, venue, and service issues related to a receiver's action against a foreign third party
    3. Costs and expenses in suit or proceedings by or against receiver
    4. Avoidance actions in a receivership
  7. Receivership accounting and reports
  8. Receiver's potential liability
  9. Termination of a receivership and discharge of receiver
  10. Bankruptcy
    1. Effect of prior receivership
    2. Preparing for bankruptcy while in receivership

The panel will review these and other important issues:

  • What special challenges exist if the borrower or borrower group is located across several states?
  • What is the Federal Priority Act and why is it important for receivership?
  • How can creditors prepare for and navigate the risk of subsequent borrower bankruptcy?