Preconference
Wednesday, June 8, 2011
7:30 - 8:20 a.m.
Continental Breakfast
8:30 - 5:15 p.m.
Bankruptcy Taxation Toolbox
Concurrent Session 1
The bankruptcy tax program is a comprehensive presentation addressing common practice issues and addressing recent developments.
Corporate reorganization tax issues will be addressed through a case study and a review of the basic rules governing debt relief, change of ownership and planning for the preservation of tax attributes and dealing with consolidated entities. Recently appointed Judge Mark Wallace will address the bankruptcy process including Chapter11 tax issues. Other topics include:
- Recent IRS guidance regarding tax rules for reorganizations including IRC 382.
- Tax discharge and dealing with non-dischargeable taxes, tax liens and the potential benefits of Chapter 13.
- Dealing with the changes arising from centralization of IRS bankruptcy processes.
- Compliance matters affecting estates of individuals.
- Pre-bankruptcy, Debtor-In-Possession and trustee tax planning opportunities.
- Planning issues involving real property short sales, debt restructuring and foreclosure.
- Planning and compliance for liquidating trusts
This is a great opportunity to ensure that you are prepared to deal with rapidly evolving insolvency tax rules and process.
8:30 - 5:15 p.m.
Financial Advisors Toolbox
Concurrent Session 2
Topics Include:
- Pre-Filing—Fee arrangements, budgets, cash management plan, operating plan, vendor payments, claims and interests, administrative and substantive consolidation, preparation of petition, SOFA and values.
- Reporting in Chapter 11—Debt subject to compromise; reporting issues for subsidiaries not in Ch. 11; identifying restructuring and reorganization items; prepetition liabilities including deferred tax liabilities; warranties, guarantees, estimation errors; contingent liabilities (141R); monthly operating reports; financial reporting; reporting procedures for committee inquiries.
- Reporting Upon Emergence—Fresh start accounting; financial considerations in determining timing of emergence.
- Looking Forward – Proposed changes; International Financial Reporting Standards.
12:00 - 1:30 p.m.
Luncheon Program
Keynote Speaker:
Daniel M. Glosband
Partner Goodwin Procter LLP
6:30–8:00 p.m.
AIRA's 27th Annual Conference Opening Reception
Sponsored by Alvarez & Marsal North America, LLC and Duane Morris LLP
Music: Sponsored by Bilze Sumberg Baena Price & Axelrod, LLP
