Ropes & Gray Business Restructuring Partner Ryan Preston Dahl to speak on Feb. 15 on a live webinar on the proposed “Stop Wall Street Looting Act of 2021,” sponsored by Sen. Elizabeth Warren (D-Mass) among others.
The webinar is being hosted by Celesq® AttorneysEd Center, which provides continuing legal education programs to attorneys throughout the United States. CelesqEd focuses on topics and trends in practice areas of particular interest to outside and in-house corporate attorneys and litigators.
Ryan will speak on the potential impact of the legislation which proposes significant changes to fundamental principles of corporate and bankruptcy law.
Among its objectives, the SWSLA seeks to:
- Make financial sponsors (i.e. private equity firms) jointly and severally liable for all liabilities of their portfolio companies,
- Create a presumption under the Bankruptcy Code that certain “change in control transactions” are fraudulent transfers,
- Address so-called “sham” independent directors by vesting the official committee of unsecured creditors with the exclusive right to bring certain avoidance actions, or actions against insider.
Information about the online seminar, scheduled for Feb. 15 at Noon, is available here.
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