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1. What laws govern commercial insolvency cases in the United States?
2. Is a finding of insolvency a prerequisite for the applicability of the various United States insolvency laws?
3. How is “insolvency” defined under the various United States insolvency laws? What tests or methodologies apply to determine if a company is insolvent?
4. What objectives and/or philosophies underlie the various United States insolvency laws?
5. Is bankruptcy protection the only option for an insolvent company? What other options are available when a company is insolvent or approaching insolvency?
6. Can a creditor initiate bankruptcy proceedings? If so, under what circumstances?
7. What is the difference between the petition date and the date of the “order for relief” in a case?
8. What is the “Automatic Stay” and what impact does it have on existing recovery actions brought against an insolvent company?
9. What is a “preference” or “preferential transfer”?
10. How are claims and interests ranked or prioritized?
11. How will creditors and other interested parties be kept informed of progress in a case?
12. Are there circumstances in which the directors or officers of a company can be made personally liable in respect of its insolvency?
13. How and to what extent are the rights of employees protected in bankruptcy cases?
14. How are the competing interests of company, shareholders and creditors represented?
15. What are the practical options for creditors concerned about protecting their interests in a bankruptcy case?
16. How are shareholders and other investors affected by corporate insolvency? What effect does reorganization and liquidation have upon their investment? Will their shares and bonds continue to trade?
17. What role does the Securities and Exchange Commission (SEC) play when a company is subject to bankruptcy protection under chapters 7 or 11?
18. Under what circumstances will it be appropriate to liquidate a company pursuant to chapter 7?
19. What are the advantages and disadvantages of liquidation under chapter 7?
20. Who oversees or administers the liquidation in a chapter 7 case? What procedures apply?
21. Under what types of circumstances will chapter 11 be appropriate?
22. To what extent does the company’s existing management retain control of the company’s affairs in a chapter 11 bankruptcy case?
23. How are reorganizations or liquidations accomplished under chapter 11?
24. Who may propose a plan of reorganization or liquidation under chapter 11?
25. What are the requirements for confirming or approving a plan under chapter 11? Do creditors and shareholders get a vote?
26. What is the effect of confirmation of the plan on the company and on existing creditors and equity holders? Can a plan be enforced notwithstanding objections of creditors?
27. Can a chapter 11 plan be modified?
28. What happens if a chapter 11 plan is not successful?
29. What techniques are available to expedite chapter 11 cases?
30. Do any special rules apply to small businesses?
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