Former US Speaker John Boehner Headlines American Bankruptcy Institute Webinar Offering Unique Insights Into Navigating the Financial Crisis

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    Squire Patton Boggs and FTI Consulting Discuss the CARES Act, US Policy and Business Survival in American Bankruptcy Institute Webinar

    As the global pandemic continues to impact US businesses in unprecedented ways, experts from the Squire Patton Boggs Public Policy and Restructuring & Insolvency practices shared their insights and answered questions relating to the financial measures introduced by the CARES Act in an American Bankruptcy Institute (ABI) webinar, “Tools to Navigate the Financial Crisis Related to COVID-19,” broadcast on April 6. The in-depth panel discussion covered the most recent federal stabilization programs and developments, providing unique and practical advice for business leaders and professionals. The panel members also discussed how to successfully navigate the liquidity and financial issues arising in the wake of the coronavirus disease 2019 (COVID-19) pandemic, as well as expected additional congressional action and the impact of COVID-19 on the restructuring and bankruptcy landscape.

    The webinar was moderated by Stephen D. Lerner, global leader of the Restructuring & Insolvency Practice, and featured a distinguished panel of professionals:

    • Former House Speaker Hon. John A. Boehner, senior strategic advisor, Squire Patton Boggs, Washington DC
    • Karol K. Denniston, Global Board member and partner in the Restructuring & Insolvency Practice, Squire Patton Boggs, San Francisco
    • Ed J. Newberry, member of the Executive Group and global managing partner of the Public Policy Practice, Investigatory and Regulatory Solutions, Squire Patton Boggs, Washington DC
    • Michael C. Eisenband, Global Co-Leader of Corporate Finance & Restructuring, FTI Consulting, New York
    • Brian Kennedy, Senior Managing Director and Head of the Americas for Strategic Communications, FTI Consulting, Washington DC

    After welcoming remarks by Amy Quackenboss, Executive Director of ABI, moderator Stephen Lerner began with an overview of the scale and enormity of the current financial crisis caused by the pandemic, with the number of distressed businesses, unemployment and market volatility at unprecedented levels: “There is a growing consensus,” emphasized Mr. Lerner, “that the CARES Act will not be sufficient to save the economy.”

    The wide-ranging discussion that followed addressed critical questions, such as: How is the implementation of the CARES Act, particularly the small business loan program, going? What is different about the restructurings that will be caused by the current situation compared to the financial crisis of 2008 to 2009? What will the next phase of government measures look like? How do you advise clients on financing and the actions they should take?

    The panel responded to questions posed by some of the more than 600 webinar listeners, and the discussion also turned to what the immediate future holds: How will COVID-19 change businesses and the operations in the future? What changes might be made to the Bankruptcy Code and how will bankruptcy courts respond to the unusual and unprecedented circumstances faced by distressed businesses?

    Listen to the free 90-minute webinar.

    An extensive range of additional materials can be found on the Squire Patton Boggs Coronavirus Resource Hub, where the firm’s global, multidisciplinary team provides up-to-date legal, regulatory and commercial materials to help businesses navigate the current health crisis.

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