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Chapter 11 of the Bankruptcy Code provides an opportunity for a company to undertake a restructuring of its operations and capital structure through a court-supervised process. This process has both legal and financial facets, and there are many opportunities for CPAs to provide specialized forensic accounting and valuation assistance to debtors, lenders, unsecured creditors, litigants and other parties to the restructuring. This session will provide both an attorney’s and an accountant’s perspectives on key forensic accounting and valuation issues encountered in bankruptcy, including:
Operating a business during Chapter 11, including DIP financing, use of cash collateral, assumption and rejection of contracts and leases, and assessment of business and products
Sale of property under Section 363
Plan of reorganization, including best interests test, feasibility, fair and equitable treatment of claims, and reorganization value
Investigations and bankruptcy-related litigation,
Including avoidance actions (fraudulent conveyances and preferences), D&O claims, and others
Court, U.S. Trustee and GAAP reporting requirements