Training Guide

First Days

Training Guide

First Days

Topic: Restructuring
Duration: 1 hr
Format: Remote or in person

What’s Covered

Purpose and timelines of first day motions, orders, and hearings
Typical first day motions, including administrative, operational, and transactional motions
The 21-day rule and its exceptions
Differences between the initial and later first day hearings

Before the Session

Prepare the Attendees

Send the attendees an invitation for the session. Include this link, which has the videos and exercise they’ll need to prepare.

https://www.hotshotlegal.com/trainings/first-days/attendee

Prepare Yourself

Watch the videos and read the exercise so you’re familiar with the Hotshot material.

Course

First Days

The “first days” in a Chapter 11 case are very important and serve as the basis for the company’s operation in Chapter 11. This course explains what happens in the first days and covers the various first day orders, motions, and hearings.
Exercise

First Days
PDF

During the Session

Part 1: Knowledge Check

Ask attendees these questions to ensure they understand the topic:

In a traditional Chapter 11 case, what are the debtor’s main objectives in their first day motions?
What are some examples of administrative, operational, and transactional first day motions?
Who typically signs a first day affidavit and why?
What steps does a company take once a venue is chosen to prepare for its first days?
How is the bankruptcy court limited in the first 21 days after a petition is filed? Are there any exceptions?
When is the final first day hearing typically held and what happens at that hearing?

Part 2: Group Exercise

Lead a group discussion based on the exercise. To encourage collaboration, divide the attendees into groups to discuss the exercise, then have a representative from each group summarize their views to the larger group. Call on people to share their thoughts and ask others to respond.

Tip for remote sessions: use your web conferencing system’s breakout room feature to divide people into groups.

Part 3: War Stories and Firm Specifics

Share your own experiences and guidance, including:

Anecdotes and war stories (e.g., about a near-disaster or a tough negotiation)
General practice tips (dos and don’ts)
Firm-specific guidance and practices

After the Session

To continue their learning, attendees can check out related courses in Hotshot’s Restructuring topic.

About Hotshot

Hotshot helps lawyers develop their legal, business, and technology skills through short videos, quizzes, and summaries, and we help law firms and law schools plan and deliver engaging training programs. Our customers include Am Law 200 firms, top law schools, and regional and international firms.