Andrew Otis spoke at the ABA Section of Environment, Energy, and Resources’ 48th Spring Conference taking place on March 27-29, 2019 in Denver. His session was "When Financials Go Bad - Doing Deals and Litigating Cases When Bankruptcy, Workouts, or Ability to Pay is at Issue."
Everyone assumes that the companies they do business with will remain fiscally viable through the life of a project. In the wake of prominent corporate bankruptcies such as General Motors and Tronox (just two of many possible examples) however, everyone also now knows that this assumption can be incorrect, particularly in the environmental compliance and remediation world. The panelists will discuss pending and recent bankruptcy and ability to pay cases involving environmental issues (including those impacting Superfund and RCRA parties in New Jersey and California), as well as do’s and don’ts for resolving environmental claims short of bankruptcy. Attendees will learn concrete strategies and tactics for how to address the needs and concerns of regulators, affiliates, employees/shareholders, and third parties when everyone is scrambling over insufficient funds.
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