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The New York Institute of Credit and the Association of Insolvency and Restructuring Advisors presented: “Fallout from the New York Commission on Health Care Facilities: Hospital Closures, Bankruptcies and Restructurings – The Legal, Financial and Regulatory Outlook.” Arent Fox LLP, Donlin Recano & Company, Inc. and HSBC Bank were co-sponsors of this event.

Arent Fox partner Jeffrey R. Ruggiero moderated the program. Topics included:

• Impact of the recommendations and legislation
• Financial and legal issues raised by the implementation of the legislation
• interplay between enforcement and bankruptcy
• Legal and legislative challenges to the legislation including the strategic advantages and disadvantages of bankruptcy
• Consequences of the legislation and the ability to obtain capital, maintain liquidity and operations and avoid covenant violations and defaults
• Impact on lenders, equipment lessors, vendors, trade creditors and other parties

Speakers included Andrew Silfen, Arent Fox partner and co-chair of the firm’s Bankruptcy and Financial Restructuring Group; Arnold I. Katz, principal and chief operating officer of Kurron; and others.