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Webinar December

November 29, 2018 - You’ve heard about Black Friday and Cyber Monday…Here comes Webinar December!  Starting next Tuesday through Wednesday of the following week, the LSTA ends its 2018 educational program with a bang, hosting six (!) presentations on topics of interest and offering in total 5.5 CLE credit hours (including two highly sought after ethics credits!).  The first presentation will be our 9th Annual Ethics Presentation, which will take place at the American Arbitration Association, 150 East 42nd Street, and is offered in-person only, on Tuesday, December 4th at 3:30PM followed by cocktails at 5:30.  Alas, the program is sold out.  The program, featuring Tom Spahn of McGuireWoods, uses hypotheticals to explore lawyers' confidentiality and disclosure duties in the context of clients' past or ongoing misconduct. Among other things, the program will address: lawyers' possible duty to disclose clients' past fraud on tribunals, or past misconduct in non-corporate and corporate settings; distinguishing between past and ongoing client misconduct (including fugitive clients); client crimes' fruits and instrumentalities; lawyers' silence which causes victim families' anguish, or allows a wrongly convicted person to remain incarcerated. As attendees of Mr. Spahn’s previous presentations know, he does the seemingly impossible, making an ethics CLE fun. (2 Ethics Credits).

The very next day, December 5th at 4PM, an eclectic group of business people and lawyers will wax on in a webinar about What is Happening in the Middle Market? They will analyze the latest trends, focusing on: Calculating EBITDA, including parsing through the add-backs; The many facets of the “Investment Basket”; Restricted, Unrestricted, Non-Guarantor, Immaterial and Excluded Subsidiaries; Asset Sale provisions: balancing flexibility with preservation of collateral; Accumulating capacity to make dividends; Equity and other cure rights: The effect of borrower notice; and Day 1 debt capacity: Tracking additional “Indebtedness”.  You can register by clicking here. (1.5 CLE credits).

Completing the week’s trifecta, at 4PM on Thursday, December 6th, the LSTA will host its bi-annual Oil and Gas update featuring lawyers from HayesBoone.  This update will cover prices, profits, and consolidation in the upstream industry and developments in marketing and trading structures including: Free Cash versus Development - The Directive for Free Cash Flow and the DrillCo trend; Common pitfalls in credit agreement hedging covenants that lenders should watch for; Large Corporate: The Disappearance of the MLP Structure; and Mid-Cap Corporate Loans: Loosening of deal terms for Mid-cap E&P and Midstream Companies.  You can register by clicking here. (1 CLE Credit).

If you are a morning person, we have something for you as well.  On December 11th at 11AM David Chmiel, Managing Director at Geopolitical Risk Advisors Global Torchlight, will dive deeply into Geopolitical Trends for 2019, What’s Next for the Loan Market…and the World?  Will the political debate around the merits of trade and globalization be helped or hindered by a divided Congress? Will the UK's imminent departure from the European Union continue to fan the flames of political populism in Europe and elsewhere? What impact will the return of strategic competition between the United States, Russia, China and other countries have on international commerce?   This session will assess some of the major trends in world politics which have developed over the past year, consider how events are likely to develop in 2019 and what their effects may be on the loan market and the global economy, and offer some practical thoughts on how we can all enhance our analysis of these events to better understand a world which remains highly fractious and uncertain.  You can register by clicking here.

The very same day, at 4PM, Rich Levin of Jenner & Block is back (and better than ever) with his Quarterly Bankruptcy Review focusing on recent decisions of interest to the lending community, including decisions on horizontal gifting (Nuverra), enforceability of subordination clauses (Tribue), third party releases (Arctic Glacier, Millenium Holdings, Kirwan), municipal revenue pledges (Puerto Rico), enforceability of anti-assignment clauses against claims trading (Woodbridge and Caesars), and adequate protection in sales free and clear (Hanmi Bank). You can register by clicking here. (1 CLE Credit)

Last, but not least, we look to the future.  LSTA Deputy General Counsel Bridget Marsh interviews Blockchain expert, Aaron Wright, on Wednesday, December 12th at 4PM.  A Professor at Cardozo Law School and Chairman of the Enterprise Ethereum Alliance’s Legal Advisory Working Group, Professor Wright is a renowned thought-leader in the blockchain space and has extensive experience in Internet and new technology issues. Before joining Cardozo's faculty, he sold a company to Wikia, the for-profit sister project of Wikipedia, where he ran Wikia’s New York office and helped build an open source search engine.  He has authored numerous writings on blockchain and has co-authored a new book titled, “Blockchain and the Law: The Rule of Code”.  You can register by clicking here

Use the rest of the year to recover because we will be back in force in January!

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