Ed Schnitzer To Discuss on “Challenging Transactions: Perspectives on Creditor Violence”

Womble Bond Dickinson Partner Ed Schnitzer will speak at the 40th Annual Bankruptcy & Restructuring Conference, which takes place June 5-8 in Baltimore. Schnitzer will speak in a panel discussion titled, “Challenging Transactions: Perspectives on Creditor Violence”.

Chapter 11 is often viewed through the lens of the debtor and its plan to reorganize or liquidate its business through an agreement with its creditors. From a creditor’s perspective, however, a successful outcome in chapter 11 requires not only an effective negotiation with the debtor, but also a strategy to optimize the creditor’s position vis-à-vis other creditors. Creditors may hold one or more positions of unsecured debt, prepetition secured debt (junior and senior), and postpetition super-priority debt—each jockeying for maximum value in the restructuring. In this session, the panel will include perspectives of a judge, financial advisor, and attorneys, who will discuss trends, strategies, and recent examples of creditors exercising rights against other creditors before and during a chapter 11 case, with the following learning objectives: (i) understanding the mechanics and responses to up-tier, drop-down, and double-DIP transactions; (ii) conducting or responding to an effective investigation and challenge of senior debt and liens, and (iii) the outlook on the credit environment and potential ramifications for creditor-on-creditor violence in bankruptcy court.

Schnitzer will be joined in the panel discussion by Brown Rudnick attorney Tristan Axelrod, U.S. Bankruptcy Court (S.D.N.Y) Judge Lisa Beckerman, and FTI Consulting’s Michael Cordasco. ArentFox Schiff attorney Beth Brownstein will moderate the discussion.