Otterbourg Attorney Leads Panel on New Trends in Chapter 11 Plans
March 20, 2012
Scott L. Hazan, chair of the firm's insolvency practice, addressed the membership of the Credit Research Foundation at a conference in Marina del Rey, California on March 20, 2012, on the subject of new trends and trade creditor issues for Chapter 11 plans. The audience consisted of approximately 150 senior financial and credit officers.
The discussion covered, among other things:
- drafting of special plan treatment for unsecured creditors and the need to address relatively recent restrictive decisions of the 2nd and 3rd Circuits;
- the need to preserve set off rights in the drafting of plan provisions and the motions related to plan confirmation; and
- the drafting and negotiation of plan provisions to relieve trade creditors of the lingering skeleton of potential preference actions after confirmation of a plan.