Workout and Pre-bankruptcy Basics and Strategies for Community and Regional Banks Amid Covid-19

Speaker: Mairi Luce, Partner, Duane Morris LLP

As we maneuver through the financial crises brought on by Covid-19 we may find business customers facing uncertain financial futures and seeking relief on their debts, whether through a structured workout or a bankruptcy proceeding.  When a borrower’s financial future is in doubt, or it is facing insolvency, the account is usually transferred to a workout specialist, but community and regional bank bankers who are not workout specialists need to know the basics to navigate the troubled credit process. What should you be doing in the workout phase to maximize recovery and minimize the risk on a troubled loan? Are there measures you can take prior to a bankruptcy brought on by Covid-19 to mitigate your risk? Hear from an attorney who specializes in workouts and bankruptcy law explain how to maneuver during this very critical period.