The International Bar Association’s Annual Conference
October 3, 2010
The International Bar Association’s Annual Conference is the premier opportunity for legal professionals the world over to meet, share experience, develop business and learn from one another. Open to both members and non-members of the IBA, this year’s event will feature—as always—a wide array of substantive sessions, workshops and panels addressing issues ranging from arbitration to M&A law, from human rights to the ethics of the legal profession.
Samuel A. Nolen will co-chair a panel entitled "Deal or No Deal – Hard Choices for Troubled Businesses."
Deal or No Deal – Hard Choices for Troubled Businesses
For many insolvency professionals and their corporate clients, the decision to file for bankruptcy instead of pursuing some form of restructuring is one not easily made. Shutting down and liquidating a once-thriving business is a hard decision; in addtion, creditors of a debtor corporation don’t resort to bankruptcy proceedings lightly. Generally a distressed debtor, its creditors and other stakeholders will work hard to avoid bankruptcy, making the utmost effort to restructure the debt and/or the debtor to create an outcome more favorable than that which a bankruptcy is likely to produce. However, the unfortunate reality is that the best solution to the financial woes of a corporation may be to file for bankruptcy instead of attempting to restructure, and it is important for insolvency practitioners to know and to be able to identify when enough is enough—when the best way to go is the path of bankruptcy. The advantages and disadvantages of the available processes for the various stakeholders involved in a financially distressed corporation will be examined in this session, which every insolvency practitioner advising corporations should attend.