Complex Chapter 11 Case Developments You Need to Know: Retention of Investment Bankers and Turnaround Advisors
by John P. Whittington
HealthSouth Corp.; Birmingham, Ala.
Mary Leesa Booth
Bradley, Arant, Rose & White, LLP; Birmingham, Ala.
Retention of Professionals under the Bankruptcy Code
Section 327 of the Bankruptcy Code governs a chapter 11 debtor’s retention of professionals. Section 327(a) of the Bankruptcy Code states: “Except as otherwise provided in this section, the trustee, with the court’s approval, may employ one or more attorneys, accountants, appraisers, auctioneers or other professional persons that do not hold or represent an interest adverse to the estate, and that are disinterested persons, to represent or assist the trustee in carrying out the trustee’s duties under this title.”
Read the full article. (Materials from the 2006 Southeast Bankruptcy Workshop )
Agenda for 2006 Winter Leadership Conference
The Investment Banking and Telecom and Technology Committees are co-sponsoring a joint panel for ABI’s Winter Leadership Conference in Scottsdale, Ariz., Nov. 30-Dec. 2. The title of the panel will be “The Uses of Electronic Due Diligence for M&A and Financing Transactions, as well as Bankruptcy Committees.” The panel will delve into the various aspects of electronic due diligence including providers, costs, applicability and confidentiality. Many times in M&A and financing transactions, the ability to get reliable data out to a large audience on a timely basis is critical to the success of the transaction. Additionally, maintaining security and confidentiality of data when it is dispersed to a large group of constituencies is challenging at best. The panel will discuss a myriad of solutions from simple FTP sites to large online databases to disseminate due-diligence data.