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Resilience and Reinvention: Navigating Corporate Bankruptcy and Reorganization


Level: Advanced
Runtime: 56 minutes
Recorded Date: September 19, 2023
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Agenda

Key topics include:
  • Corporate Bankruptcy and Reorganization: Trends and Developments
  • Analyzing the Significant Increase in Bankruptcy Filings
  • Economic Difficulties and Contributing Factors
  • Reorganization Strategies and Tools
  • What Lies Ahead

For NY - Difficulty Level: Experienced attorneys only (non-transitional)

Description

Corporate bankruptcy filings in the United States have surged in 2023, with over 230 companies seeking Chapter 11 protection, the highest number since 2010. This increase is due to economic difficulties, including a sluggish economy, increasing interest rates, and ongoing inflation.

These and other developments underscore the need for businesses to be well-versed in reorganization strategies and tools to address financial challenges, adapt to market conditions, preserve relationships, minimize losses, and position themselves for long-term success.

Experienced financial restructuring practitioners Mark D. Podgainy, Getzler Henrich & Associates LLC, and Kristen L. Perry, Faegre Drinker Biddle & Reath LLP, will present a comprehensive discussion of the latest trends in corporate bankruptcy and reorganization. The speakers will offer helpful insights into navigating the increasingly challenging economic environment.

Provided By

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Panelists

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Kristen L. Perry

Attorney
Faegre Drinker Biddle & Reath LLP

Kristen Perry advises clients in complex reorganization matters, both in- and out-of-court. She advises clients in preparing Chapter 11 matters for filing and negotiating restructuring transactions, including distressed asset sales/purchases, debtor-in-possession financing and exit financing.

Kristen represents debtors, hedge funds and bank lenders across a variety of industries. She has represented companies in high stakes mass tort litigation, with an emphasis in pharmaceutical and products liability litigation. Her experience also extends to complex commercial and business litigation matters. Kristen has previously counseled clients on bad faith litigation and insurance defense.

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Mark D. Podgainy, CTP

Managing Director
Getzler Henrich & Associates, LLC

Mark D. Podgainy, CTP is a managing director with Getzler Henrich & Associates LLC in New York and has more than 20 years of experience working with healthy, underperforming and distressed middle-market businesses, both as an advisor and as a member of the management team. He has provided operations restructuring, business plan analysis, performance improvement, cash and vendor management, bankruptcy consulting and interim-management services.

Mr. Podgainy has also worked with law firms on forensic and litigation support assignments in bankruptcy cases. His clients have included business owners, boards of directors, private-equity firms, lenders, creditors’ committees and law firms, and he has worked primarily in the manufacturing and distribution, consumer products, building products, food, hospitality, retail, apparel and textile, and real estate sectors, among others.

Mr. Podgainy also has experience with both the nonprofit and education sectors, including ConnectEdu and The College of New Rochelle, and he has experience in successfully guiding middle-market companies through the workout and restructuring processes, both in court and out of court. He has served as CRO, interim CFO, treasurer or financial advisor in a variety of companies and situations. Outcomes have included improved operational and financial performance, successful reorganizations, enterprise and asset sales, wind-downs and liquidations. In each situation, he has been able to address thorny financial, legal, organizational and governance issues to maximize recoveries for the parties-in-interest.

Mr. Podgainy is a board member of Neighborhood Housing Services of New York City Inc., a nonprofit that revitalizes underserved neighborhoods, and the New York City Chapter of the Turnaround Management Association. He is a member of ABI, the Turnaround Management Association and the Cornell Hotel Society, and he has written frequently on mergers and acquisitions, real estate and related topics for numerous industry trade publications.

Mr. Podgainy received his Bachelor’s degree from Cornell University’s School of Hotel Administration and his M.B.A. from Columbia University.


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