FVC2216. So You Want to Get into Bankruptcy? What CPAs Need to Know for Financial Advisor Success

Using two extraordinary case studies, your panel of seasoned Chapter 11 Financial Advisors will steer you through their recent work for the Easterday Ranches Chapter 11 Unsecured Creditors Committee, at a loss of $250 million (and 180,000 missing cattle), the largest cattle fraud case in U.S. History; and shine some sunlight on the $2 billion Ponzi scheme DC Solar Chapter 11s, the biggest fraud case in the history of the DOJ Eastern District of California, generating a 30-year prison sentence for the principal and six other plea agreements—including the company’s outside CPA.

Learning Objectives:

• Identify The Different Roles of the Financial Advisor in Chapter 11 cases: Pre-Bankruptcy, Post-Petition and Post-Confirmation.
• Recognize Waterfall of Potential Clients: Debtor, official and ad-hoc creditors committees, the lenders, a significant creditor; class action plaintiffs; the chapter 11 trustee, the chapter 7 trustee, the examiner, government agencies and liquidating trustee.
• Distinguish Soft Skills for Success: The importance of understanding the case situation and environment and style-shifting for your client, attorneys, stakeholders, and the court.
• Recall How the Financial Advisor Supports the Attorneys: Developing case strategies and theories; forensic investigations and financial analysis; valuation fights; technical accounting and tax advice; declarations and expert witness; mediations.
• Indicate The Role of the Financial Advisor in “SubCon” and 2004 “Fishing Expeditions”: Unique to bankruptcy, how related entities become a single debtor and why a 2004 Exam is not your everyday deposition.