Tim Conway and Ava Schoen Discuss Bankruptcy During COVID-19
On November 5, Tonkon Torp bankruptcy attorneys Tim Conway and Ava Schoen were featured speakers at the Current Developments in Business Law event hosted by the Oregon State Bar Business Law Section. Their presentation explored how business bankruptcy can be used as a strategic opportunity during the current COVID-19 period.
After providing an overview of eligibility for bankruptcy filings under Chapter 13, 12, and 7, Tim and Ava focused on considerations of Chapter 11 reorganizations. They discussed the opportunities that Chapter 11 can bring to a company in distress, broke down the process for filing and creating and confirming the Plan of Reorganization plan, and outlined the rights of landlords, tenants, and parties to contracts in Chapter 11
They also explored timely issues such as the impact of bankruptcy on PPP loans, how the newly enacted Subchapter V of Chapter 11 can benefit small businesses, and how a Chapter 11 bankruptcy can help facilitate a successful sale or acquisition of distressed businesses or assets.
Tonkon Torp's bankruptcy and corporate reorganization practice is recognized nationally for its strategic and results-oriented approach. Tim’s practice includes Chapter 11 corporate reorganizations, workouts, debtor‑creditor law, commercial litigation, and general business matters. Ava's practice focuses on Chapter 11 corporate reorganizations and debtor-creditor law, as well as commercial litigation.