Lauren Angelilli Speaks at PLI’s 2021 Tax Planning Program

Cravath partner Lauren Angelilli participated in “Tax Planning for Domestic & Foreign Partnerships, LLCs, Joint Ventures & Other Strategic Alliances 2021 Part Two: Special Industries and Topics,” a program presented virtually by the Practising Law Institute from June 8-9, 2021. Lauren spoke during a panel entitled “Distressed Partnerships (Including Bankruptcy and CARES Act),” which discussed a potential resurgence of common forms of debt workouts and restructuring transactions, including bankruptcy, foreclosure, debt modification and contribution of debt to equity, due to the effects of the COVID-19 pandemic, the tax implications that follow when those transactions are carried out through partnerships and the qualification for exclusion and allocation of cancellation of debt ("COD") income.