February- John Isbell King & Spaulding
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NFA Atlanta
February 25, 2010
Luncheon Meeting with Guest Speakers
John Isbell of King & Spaulding
and
Wes Pennington of PricewaterhouseCoopers
Registration at 11:30 a.m.
Door Prizes!
$35 Members / $50 Non-Members
(New Lower Cost!)
NEW VENUE!
City Club of Buckhead
Atlanta Financial Center
3343 Peachtree Road, Suite 850
Atlanta, GA 30326
Most lenders in a new business arrangement are effectively re-financing debt which was formerly with another lender - possibly in a stressed situation. So, in addition to the credit risk, what should be your other concerns? Consider this story:
In late 2009, the judge in the estate of Florida homebuilder Tousa, Inc. ordered CitiCorp and its lender syndicate to disgorge all principal & interest and avoided its collateral liens pursuant to a $500 million loan to the estate only a few months prior to its bankruptcy.
Thus CitiCorp, et al. became general unsecured creditors of the estate (”good luck”) instead of a secured creditor with valid liens.
The rule of law applied was “fraudulent conveyance,” which in layman’s terms, means that the court can overturn a transaction pursuant to which a Debtor paid money (or pledged collateral) and a creditor received value at a time when the Debtor was insolvent.
Mr. John Isbell, Esquire, of King & Spalding and Mr. Wes Pennington, of PricewaterhouseCoopers will present an interesting and interactive presentation of the legal background and financial solvency to better your understanding of the one of the key issues facing lenders in stressed situations.
John F. Isbell
John Isbell is a counsel in the Atlanta office of King & Spalding and a member of the Financial Restructuring Practice Group. Mr. Isbell’s practice includes representation of debtors, secured lenders, and unsecured creditors in bankruptcy cases, receiverships, and workout matters, as well as bankruptcy and insolvency-related litigation in federal and state courts. He appears regularly in Georgia state and federal courts and also is admitted to practice in the state and federal courts of Alabama.
Mr. Isbell earned his bachelor’s degree in English Literature from the University of the South in 1996, and obtained his law degree summa cum laude from the University of Alabama in 2000, where he received the Outstanding Scholastic Achievement Award, the Order of Jurisprudence/ Order of the Coif Scholarship, the Dean M. Leigh Harrison Award, was a Hugo Black Scholar, and was elected into the Order of the Coif and the Bench and Bar Legal Honor Society. Mr. Isbell was also a senior editor on the Alabama Law Review.
Mr. Isbell is a member of the State Bar of Georgia, the Alabama State Bar, the American Bar Association, the American Bankruptcy Institute, and the Atlanta Bar Association.
In the last year, Mr. Isbell has represented secured lenders and creditors, such as SunTrust Bank, General Electric Capital Corporation, Home Depot U.S.A., Inc., and Lockheed Martin Corporation, in workouts, restructurings, and bankruptcy cases, while also representing Chapter 11 debtor corporations, such as Centennial HealthCare Corporation and LJM2 Co-Investment, L.P.
Scott Brown
NFA Atlanta President
sbrown@chartercapitalusa.com
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2010 Meeting Dates:
March 25 - Peter Tourtellot, Anderson Baumann Tourtellot Vos & Co.
April 22 - Carlos Lara, United Services & Trust Co.
May 27
June 24
July 22
August 26
September 23
October 28
November 18