Sari Placona To Be A Panelist On Strafford Publishing's Webinar "Subchapter V Reorganization For Individuals: Eliminating the Absolute Priority Rule"
This CLE webinar will plumb the nuances of individual reorganizations under Subchapter V of Chapter 11 of the Bankruptcy Code. The panel will guide both debtor and creditor counsel through the advantages and disadvantages of Subchapter V, plan creation, eligibility restrictions and traps, post-petition retention of non-exempt property, discharge, and remedies after default.
Subchapter V is increasingly important for individual debtors (and their creditors) whose debt burden prevents them from using Chapter 13. Subchapter V rewrites the rules for cramdown and eliminates the absolute priority rule in most cases. Recent amendments to the Bankruptcy Rules clarify Sub V debtor's duties and rights.
Nonetheless, debtors must successfully traverse the gauntlet of eligibility limitations and fast deadlines. The goal of the case is a consensual plan, and the Sub V trustee is a critical mediator between the debtor and creditors.
With no Chapter 7-like trustee and no creditors' committee to provide oversight of the debtor's decisions, creditors must understand Sub V, or else they could be caught flat-footed in these fast-moving cases.
Listen as this panel of bankruptcy experts guides counsel through how debtors and creditors can get the best result when individual debtors elect Subchapter V.
For more information or to register, please visit Strafford Publishing.