Complimentary Web Seminar
September 23, 2014
12 pm ET/9 am PT
Register for this Web Seminar –The landscape of municipal bankruptcy has been shaped during the past 6 years by the Vallejo, Stockton, Jefferson County, San Bernardino and Detroit chapter 9 cases, among others. Each of these cases has its own “personality,” and each has confronted novel legal questions, many of which are still in the process of being resolved by the courts.
One thing that rings true for all of them, however, is that as in chapter 11 cases, negotiated settlements are preferable to litigation. Or, as Judge Klein said in the Stockton case, “Chapter 9 is negotiation on steroids.” And bondholders are focused on the application of decisions of these cases to the restructuring of the debts issued by public entities in Puerto Rico, whether under the debt recovery act recently enacted by Puerto Rico, or chapter 9 (if amended to permit Commonwealth municipalities to file chapter 9 petitions).
Join the Bond Buyer and Orrick for a detailed webinar that will help to describe this changing landscape and discuss some of the strategies and legal challenges that have arisen, including the following topics:
- The landscape of “good faith” in chapter 9 for both for debtors and creditors
- The impact of security features for bonds: special revenues, restricted funds and statutory liens
- When is a GO a secured obligation?
- The impact of chapter 9 on post-employment benefits (pensions and health care)
- Myths and realities about the scope of the bankruptcy court’s power in chapter 9
Register Now!
Speakers:
John Knox
Partner, Public Finance Dept.
Orrick, Herrington & Sutcliffe LLP
Marc Levinson
Partner, Restructuring Group
Orrick, Herrington & Sutcliffe LLP
Lorraine McGowen
Partner, Restructuring Group
Orrick, Herrington & Sutcliffe LLP