NYCFA Lunch and Learn: Workouts and Bankruptcy Basics
April 28, 2016
On Thursday, April 28, 2016, Otterbourg attorneys Jonathan Helfat and Jeffrey Rosenthal presented a program on workout and bankruptcy basics sponsored by the New York Chapter of the Commercial Finance Association. The program included lunch and networking and was held at the offices of Capital One, at 299 Park Avenue, New York.
In today's market lenders are seeing stress in their portfolios. The program was designed as a refresher for the experienced loan office and a primer for the less experienced ones. Topics discussed included early warning signs, why do you need a forbearance agreement, who are the players in a typical bankruptcy and why are they there, why you want to be the DIP lender and now that you are in Chapter 11, how do you get repaid and walk away. Jon and Jeff touched on alternatives to bankruptcy that save time and money, such as an Article 9 sale and an assignment for the benefit of creditors, as well.