2023 Northeast Bankruptcy Conference & Northeast Consumer Forum

This session will provide a general overview of the involuntary bankruptcy process, and will drill down into what it means for a claim “not to be subject to a bona fide dispute," what happens or does not happen during the “gap period,” soliciting and adding creditors to the petition, and the ramifications of when an involuntary filing is dismissed for bad faith.

Hosted by IWIRC New England Companies are not the only ones fighting with creditors these days; creditors are fighting amongst themselves, relying on increasingly nuanced interpretations of debt-issuance documents and intercreditor agreements. What has changed in the debt-finance landscape that is bringing these disputes to a head? What are the document provisions and transaction structures that have been in dispute? What are the litigation strategies and considerations at play, and how have courts reacted to these kinds of disputes? This session will address these questions and more.

New developments occur regularly in bankruptcy law, and this past year was no different. This session will provide you with an overview of important U.S. Supreme Court decisions that came down in the 2022-23 session that relate to bankruptcy, as well as the recent Purdue Pharma decision from the Second Circuit Court of Appeals. The panelists will review the facts and key holdings of each case, and how they may affect pending and future cases. Discussions will include the nondischargeability of debt due to fraud committed by a partner, the treatment of certain statutes as “jurisdictional” versus preconditions to relief, violations of the Fifth Amendment’s takings clause, whether Indian tribes have sovereign immunity from damages claims for violations of the automatic stay, the allowance of nonconsensual releases of creditors’ direct claims against non-debtors in the Purdue Pharma L.P. chapter 11 plan, and recent developments on the “solvent debtor” exception in chapter 11 cases.