Cosmetic Drug Allied Lines Group
Bruce S. Nathan
March 16, 2017
Bruce Nathan will co-present with Wanda Borges, Borges & Associates, LLC, “The Anatomy of a Liquidating Chapter 11 Case.” Sponsored by the Federation of Credit & Financial Professionals, the program will present a case study based on a hypothetical liquidating chapter 11 case where the ending is not yet known. The study begins with the organization of a pre-petition ad hoc unsecured creditors’ committee whose members had unpaid unsecured trade claims against the debtor. Shortly afterward, certain members of the ad hoc committee joined in the filing of an involuntary chapter 7 case that eventually converted to chapter 11. The speakers will discuss what motivated the creditors to join in the involuntary bankruptcy filing and the pros and cons of filing involuntary petitions. There will then be a discussion of the official creditors’ committee’s investigation of the validity and perfection of the debtor’s lender’s pre-petition secured claim, as well as of preference or fraudulent transfer claims against the secured lender. They will also discuss the insider transactions involving the debtor’s principals and related entities exposing them to fraudulent transfer and Director and Officer Liability claims, as well as the sale of debtor’s assets.
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