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NYSBA | Working Out and Litigating the Problem Loan (2007) = 15

Working Out and Litigating the Problem Loan (2007)

Non-Member Price:	$170.00
Member Price:	$95.00

Stock Status:	In Stock
Product Code:	80732

Product Description

Working Out and Litigating the Problem Loan

Half-day Program
9:00 a.m. – 1:00 p.m.
Thursday, May 10, 2007
New York City

Co-sponsored by the Commercial and Federal Litigation Section Creditors’ Rights and Banking Litigation Committee and the Committee on Continuing Legal Education of the New York State Bar Association

Program Description
This half-day program will provide lawyers involved in commercial litigation with an overview of the strategy and tactics involved in the negotiations and litigation arising from a problem loan. Initial file reviews and negotiations from the lending institution’s and the borrower’s perspectives, managing the litigation, budgeting; the tactical steps in the litigation, bankruptcy considerations and resolution techniques will be discussed.

This is a program which both the attorney new to the area and the experienced practitioner looking for new suggestions on handling this area will find useful. Bound course materials will be distributed to all registrants.

The New York State Bar Association’s Committee on Continuing Legal Education has been certified by the New York State Continuing legal Education Board as an accredited provider of continuing legal education in the State of New York.
Under New York’s MCLE rules, this program has been approved for credit for all attorneys, except those who are newly admitted (less than 24 months). This course may be used for 4.0 credit hours.

Panelists include judges, lawyers and financial institution representatives.
New York City:

Moderator:      Michael Luskin, Esq.
Banker:           Silvia L. Spear
Bank Lawyer: S. Robert Schrager, Esq.
Borrower:       Chester B. Salomon, Esq.
Judge:            Hon. Charles A. Ramos

AGENDA

THE BANK’S PERSPECTIVE: “CRISIS” (56 min.)

— File management and review by the bank; transfer to workout; assessing the situation; document review; UCC and land record searches; investigators; reporting requirements
— Dealing with the company’s request for funds today; payroll and tax issues; operating accounts
— Reservation of rights and forbearance
— Dealing with the indenture trustee on the IRB; intercreditor issues
— Dealing with company management; new management or consultants
— Dealing with the family’s personal guarantees

THE BORROWER’S PERSPECTIVE: “MINOR ADJUSTMENTS NEEDED” (50 min.)

— Borrower’s counsel’s role; educating the client
— Maintaining good relations with the bank; timely and accurate reporting; avoiding “disproportional painsharing”
— Crisis management and accounting
— Customer relations
— Dealing with the IRB
— Developing a short-term business strategy to stop the bleeding and justify immediate relief (i.e., an additional overadvance)
— Developing a long-term exit strategy; additional collateral; asset sales and other cutbacks; customer support; additional equity; restructuring and other consensual resolutions

LITIGATION AND OTHER OPTIONS (111 min.)

    Initiating Battle

— Starting the Lawsuit

1. Forum choice; governing law
2. Parties; including the guarantors; single action rule issues
3. Preliminary remedies
4. Causes of action; action on the note; action on the guaranty; mortgage foreclosure; fraudulent conveyance actions
5. Complaint vs. summary judgment in lieu of complaint
6. Service of process

— Dispositive motions
— Discovery
— Summary judgment and partial summary judgment war
— Trial; evidentiary considerations; motions in limine; Experts Bankruptcy Considerations
— Pros and cons; cost; timing; relationship with guarantors; dealing with customers, lessors and other creditors; DIP financing; exit options, Strategic Considerations
— Managing the lawyers; budgeting; handicapping; intangibles (reputation, etc.)
    Détente
— Settlement: Can you do it without appearing weak? Deeds in lieu, peaceful possession, handing over the keys, and other consensual    resolutions
— Mediation: when and why? Judge’s role?

TOTAL MCLE Credits: 4.0 credit hours in areas of professional practice

Program Faculty

Overall Planning Co-Chairs

Michael Luskin, Esq.
Luskin Stern & Eisler, LLP
New York City

S. Robert Schrager, Esq.
Hodgson Russ LLP
New York City

Local Panels

New York City: Michael Luskin, Esq. (Co-Chair), Luskin Stern & Eisler, LLP, New York City * S. Robert Schrager, Esq. (Co-Chair), Hodgson Russ LLP, New York City * Hon. Charles E. Ramos, Supreme Court Justice, New York County, Commercial Division, New York City * Chester B. Salomon, Esq., Stevens & Lee, P.C., New York City * Silvia L. Spear, Managing Director, Deutsche Bank, New York City

*Each additional person who uses the tapes for MCLE credit, or for certified training
Under Part 36 of the Rules of the Chief Judge, must purchase a copy of the “MCLE coursebook.