Covers the essentials of chapter 11 of the Bankruptcy Code, which enables companies to restructure their debts and operations
Deb Kovsky, a bankruptcy partner at Troutman Pepper, discussed the life cycle of a business in Chapter 11, covering key players, strategies, and processes. Key players include the debtor, employees, secured and unsecured creditors, customers, regulators, and committees. Strategies range from pre-packaged to free-fall filings. Key documents include the bankruptcy petition, schedules, and SOFA. The debtor in possession (DIP) manages operations, proposes reorganization plans, and hires professionals. Financing comes from secured lenders or DIP financing. Assets can be sold under Section 363. Tax issues include CODI and NOL preservation. Exit involves confirming a plan of reorganization.
45 minutes 26 seconds
Deborah Kovsky-Apap is a partner with Troutman Pepper Hamilton Sanders LLP in New York, where she provides clients with practical and business-oriented advice on bankruptcy, out-of-court workouts and distressed M&A transactions. She represents debtors, creditors, creditors’ committees, trustees and purchasers in bankruptcy cases across the country, and currently represents ad hoc committees in the Celsius Network and BlockFi chapter 11 cases. An experienced litigator, Ms. Kovsky-Apap served as special litigation counsel to the City of Detroit in its bankruptcy, represented the defendant in an SEC enforcement action arising out of the Delphi bankruptcy that culminated in a three-month jury trial, and has investigated and successfully pursued numerous D&O and insider claims on behalf of creditors’ committees. She regularly lectures on bankruptcy topics to national and regional organizations. In addition, she co-authored the “Creditors” Committees in Reorganization Cases” chapter for the Collier Bankruptcy Practice Guide, co-wrote the “Alternatives to Bankruptcy Under Federal and State law” chapter in Navigating Today’s Environment, and authored “Defense Strategies for Depositors in Crypto Ch. 11 Litigation,” published in Law360. Ms. Kovsky-Apap is admitted to practice in Michigan, New York and New Jersey, and before the Sixth Circuit Court of Appeals; the U.S. District Courts for the Eastern and Western Districts of Michigan, the Southern District of New York and the District of New Jersey; and the U.S. Supreme Court. She received her A.B. magna cum laude in 1996 in literature from Harvard College, and her J.D. in 2003 from Columbia Law School, where she was a Harlan Fiske Stone Scholar and associate editor of the Columbia Law Review.
See why leading organizations rely on MasterClass for learning & development.