The Asset Sales Committee hosted their most recent committee call on Wednesday, November 12. This call was titled "Bankruptcy Reform Commission’s Consideration of a Proposal to Surcharge Secured Lenders for 363 Asset Sales" and worked to more broadly inform and engage bankruptcy and restructuring professionals about the proposal being considered by the Bankruptcy Reform Commission to assess a charge on secured lenders for 363 asset sales in Chapter 11. Ms. Kathryn A. Coleman of Hughes Hubbard & Reed LLP and Mr. Gregory A. Bray of Milbank, Tweed, Hadley & McCloy LLP led the discussion. Ms. Risa Wolf-Smith of Holland & Hart LLP served as moderator. Ms. Coleman discussed the argumåents in favor of a charge as an advocate for the debtor and its estate, as well as unsecured creditors. Mr. Bray discussed the arguments against a charge for secured creditors.
