What happens when both a closely held business and its owners are in bankruptcy? Using recent cases to highlight the issues, the panel will discuss the legal and practical issues that arise as a result of multiple bankruptcy cases, including:
- What happens when individual owners file Chapter 7? How do you deal with stock ownership of the chapter 11 debtor? Control of the business in Chapter 11?
- What happens when the individual owners and business entity each file separate Chapter 11 plans? What about overlapping claims (such as a loan guaranteed by the principal)?
- What issues arise if you have a joint Chapter 11 plan for the individual and the business entity?
- Janet E. Bostwick, Janet E. Bostwick, P.C., Boston MA
- Ronald A. Clifford, Blakeley LLP, Irvine, CA
- Steven R. Kinsella, Fredrikson & Byron, P.A., Minneapolis, MN
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This webinar will last one hour. Recording and presentation will be available once it concludes.