Contingency Planning in the Distressed Energy Market: Legal Considerations Involving a Shutdown, Restructuring, Acquisition or Bankruptcy Filing

As a reaction to the dramatic oil price decline, stagnant and historically low gas prices, or – in the case of coal, regulations – contingency planning is essential. E & P and service companies face tightening credit and decline in asset value that may impact the solvency of the business enterprise. Options include maintaining operations where possible to preserve value and positioning themselves for a turnaround in prices. Those without staying power because of lack of capital may be forced to streamline operations by reducing work force and shedding assets, or position themselves for sale of all or substantially all of their assets at the highest value. Management must understand the fiduciary risks of operating a distressed company. In this CLE seminar, we will:

• Highlight the fiduciary risks in managing a distressed company
• Highlight bankruptcy issues for acquirers and lenders
• Review the trade creditor’s obligations, pre- and post-filing for bankruptcy
• Identify the labor and employment issues through plant closing
• Discuss the contract issues that may be affected by a bankruptcy filing, including financial contracts and oil and gas leases and production agreements
• Address the protections and limitations of attorney-client privilege

Details:

Registration & Lunch: Noon to 12:30 p.m.

Seminar:  12:30 to 4:30 p.m.