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Addressing Environmental Claims in Bankruptcy Proceedings


Product Code - EHAU03
Speaker(s): Larren Nashelsky, Miles Imwalle, Todd M. Goren
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When a company saddled with potential environmental liabilities seeks bankruptcy protection, the goals of Chapter 11—giving the reorganized debtor a ‘‘fresh start’’ and fairly treating similarly situated creditors—can conflict with the goals of environmental laws, such as ensuring that the ‘‘polluter pays.’’ Courts have struggled to reconcile this tension. Recent bankruptcy cases from the Southern District of New York, including last year’s decision in In re Mark IV Industries, and the more recent bench decisions in In re Lyondell Chemical Co. and In re Chemtura Corp., evidence this ongoing balancing act.

In this 90-minute Webinar, Larren Nashelsky, Todd M. Goren, and Miles Imwalle of Morrison & Foerster LLP will bring their expertise in bankruptcy and environmental law to discuss recent legal developments and strategies for navigating this complex area of the law. This webinar is designed to help you:

  • Identify whether an environmental obligation is a “claim” under the Bankruptcy Code
  • Become familiar with recent legal developments relating to the dischargeability of environmental claims
  • Analyze whether claims for contribution toward environmental remediation are allowable claims in bankruptcy
  • Learn about strategies that companies in distress may employ to maximize the likelihood that environmental claims will be dischargeable in bankruptcy proceedings
  • Understand potential advantages of pursuing the sale of assets under Section 363 of the Bankruptcy Code when significant environmental liability is involved
  • Develop approaches to negotiating environmental claims with governmental agencies

Register easily and securely to reserve your space now for Bloomberg BNA's upcoming EHS Webinar and get a $75 discount as a Bloomberg BNA subscriber! Or, call 800-372-1033, menu Option 6, submenu Option 1, and refer to the date and title of this conference. Lines are open from 8:30 a.m. to 7:00 p.m. ET, excluding most federal holidays.

Don’t miss this opportunity to hear a lively, dynamic presentation. Not only are EHS Webinars an excellent way for you to stay current, with Bloomberg BNA you also get:

  • Quality. Count on it. Nothing is canned.
  • Objectivity. Bloomberg BNA provides you with the best and most objective information. Unlike other companies, we don’t use our Webinars as a forum to sell outside solutions.
  • Affordability. EHS Webinars are inexpensive compared to the cost of travel to attend a conference. Plus, you may use a speakerphone and invite as many of your colleagues as you want to listen in—all for the price of a single registration.
  • Convenience. No airlines. No travel. No time out of the office.

In addition, you’ll receive:

  • Personal attention. Once you’ve registered, send your questions in advance to mgrena@bna.com and they’ll be included in the program. You’ll also have a chance to ask your questions during the Webinar.
  • Follow-up materials. You need no materials upfront to follow along to our live conference. But Bloomberg BNA always issues a follow-up e-mail with contact information for our speakers as well as other materials related to the topic.
  • CLE credits will be available for this EHS Webinar.

 

Larren Nashelsky, Miles Imwalle, Todd M. Goren


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Larren Nashelsky is a partner in the New York City office of Morrison & Foerster LLP. Nashelsky focuses his practice on U.S. and international restructurings, including Chapter 11 reorganizations, workouts, restructurings, secured financings, and distressed acquisitions and investments. He has represented all of the major constituencies in restructurings, including debtors, commercial banks and bank groups, official creditors’ committees, unsecured creditors, and distressed investors in the real estate, financial services, telecommunications, gaming, transportation, chemical, energy, satellite, and natural resources industries. Nashelsky has represented debtors in the high-profile Chapter 11 cases of Tricom, S.A., Paper International, Olympia & York, Consolidated Hydro, and non-debtor companies in numerous out-of-court restructurings. He has also frequently represents secured lenders in Chapter 11 cases and out-of-court restructurings, and institutional lenders, distressed investors, and other major creditors in high-profile restructurings, such as Lehman Brothers, Enron, Spansion, WorldCom, Calpine, Caribbean Petroleum, Pacific Gas & Electric, Mirant, and Hawaiian Telecom. A former firmwide managing partner of Morrison & Foerster, Nashelsky regularly lectures at leading industry conferences and has published and lectured on U.S. and international insolvency matters. Nashelsky is a member of the American Bar Association and the New York State Bar Association and has served on the Bankruptcy & Corporate Reorganization Committee of the New York City Bar. He recently was ranked by The Deal as one of the top 35 individuals in bankruptcy. He was recognized by the National Law Journal in its 2005 “40 Under 40” compilation of the country’s most influential attorneys and is regularly listed as a leading restructuring professional in industry publications. Nashelsky earned a B.S. from the University at Albany, State University of New York, and a J.D. from Hofstra University School of Law. While at Hofstra University School of Law, he was the notes and comments editor of the Hofstra Law Review and the recipient of the Weintraub and Resnick Bankruptcy Law Award.

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Miles Imwalle is an associate in the Environment and Energy Group in Morrison & Foerster LLP’s San Francisco office. His practice focuses on all aspects of the land development process, including land use entitlements, compliance issues, and litigation. Imwalle advises clients on the development of commercial, residential, mixed-use, and renewable energy projects throughout California, and in the land use aspects of financing real estate acquisitions and developments, including zoning, land use, permitting, and environmental matters. He frequently assists clients with preparing environmental review documents required under the California Environmental Quality Act (CEQA) and the National Environmental Policy Act, as well as defending clients' environmental review documents in both administrative and judicial proceedings. Imwalle's practice also focuses on evolving legislation related to climate change, such as AB 32 (The Global Warming Solutions Act) and SB 375, and addressing climate change under CEQA. In the climate change arena, his focus is on the impact of such legislation on land use decision-making and strategies for minimizing legal risks related to climate change. Mr. Imwalle maintains an active environmental practice, counseling clients on environmental risks that arise during the sale of a business or transfer of property, particularly risks associated with potential liability under federal and state statutes such as CERCLA, RCRA, the Clean Water Act, and California's Porter-Cologne Water Quality Control Act. Mr. Imwalle conducts and coordinates environmental due diligence assessments, including the retention and supervision of environmental consultants, and advises on strategies for addressing and allocating liability risks for contaminated properties, including drafting and negotiating applicable representations and warranties and contract language. He also assists with resolution of issues identified in the course of due diligence. Mr. Imwalle is on the editorial board for Trends, the newsletter for the Environment, Energy and Resources section of the American Bar Association.

 

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Todd M. Goren has experience in all facets of complex Chapter 11 reorganizations. He has represented official committees, debtor-inpossession lenders, and debtors in a number of prominent insolvency matters. Mr. Goren has also represented parties in the purchase and sale of aircraft-related securties, and has developed particular expertise in complex aircraft financing transactions and all aspects of airline-related restructurings. Mr. Goren also has significant expertise in Bankruptcy Section 363 sales and in cross-border insolvencies, in particular proceedings under Chapter 15 of the Bankruptcy Code. Mr. Goren received his J.D., magna cum laude, in 2002, from Georgetown University Law Center, where he was elected to the Order of the Coif. He interned for the Honorable Irma S. Raker of the Maryland Court of Appeals in 2000.