Enforceability of Intercreditor Agreements in Bankruptcy: Maximizing Recovery for First and Second Lienholders
Recording of a 90-minute premium CLE video webinar with Q&A
This CLE course will guide commercial finance counsel in drafting intercreditor agreements and those seeking to enforce or resist intercreditor agreements during bankruptcy proceedings. The panel will discuss ways that first lien and second lien lenders can best protect their economic interests in the event of bankruptcy.
Outline
- Recent case law on the enforceability of intercreditor agreements in bankruptcy proceedings
- Cases holding that an intercreditor agreement cannot waive a second lien lender's fundamental bankruptcy rights
- Cases holding that an intercreditor agreement may waive statutory bankruptcy rights if enforceable as a matter of applicable state law
- Best practices when drafting and negotiating intercreditor agreements to protect lender interests, including discussion of forms of intercreditor agreements currently being used in the market
Benefits
The panel will review these and other relevant issues:
- What are the lessons for lenders' counsel from recent bankruptcy case law regarding intercreditor agreements?
- Which intercreditor provisions require special attention as to enforceability in bankruptcy?
- How can senior lien and subordinate lien lenders best protect their interests in bankruptcy?
Faculty
Eric W. Anderson
Partner
Parker Hudson Rainer & Dobbs
Mr. Anderson concentrates his practice in bankruptcy, workouts, financial restructuring and commercial finance. He... | Read More
Mr. Anderson concentrates his practice in bankruptcy, workouts, financial restructuring and commercial finance. He regularly represents banks, financial institutions, secured asset-based lenders, investors, trustees, debtors-in-possession, and other parties in bankruptcy and financial restructuring matters. This includes representation in workouts and restructuring matters both in and out of bankruptcy.
Close
Kathleen O. Currey
Partner
Parker Hudson Rainer & Dobbs
Ms. Currey represents financial institutions and borrowers in secured lending and financial restructuring matters. She... | Read More
Ms. Currey represents financial institutions and borrowers in secured lending and financial restructuring matters. She has extensive experience with syndicated loan facilities, asset-based financings, debtor-in-possession financings and negotiating complex intercreditor and subordination agreements.
Close