abiLIVE Webinars

Any reform of current chapter 11 practice must account for the prevailing criticism that fees and costs are too high, and do it in a way that focuses on aligning incentives with case efficiency. This panel will discuss recommended reforms that provide for more effective oversight, as well as alternative fee structures consistent with professionals’ ethical obligations under the Code of Professional Responsibility.

The ABI Commission Report proposes some significant changes to the Bankruptcy Code, and the preferential transfer statute in Section 547 is no exception. This webinar explores the rationale behind the recommendations, such as the good faith belief for filing a demand letter or preference complaint, the increase in the statutory minimum to bring a preference action, and more. Most importantly, the panel will assess the practical effects and foreseeable impact of implementing these recommendations. This webinar is a must-attend for attorneys who regularly represent creditors, liquidating trustees, and panel trustees in preference actions.

As a result of falling energy prices, experts expect bankruptcy filings in the energy sector to increase, especially those in the oil and gas industry. Bankruptcy cases involving energy companies raise unique issues due to the interplay among the Bankruptcy Code, federal and state laws, the regulatory structure governing the energy industry, and the political and practical realities of the industry’s significance on national, regional and local levels. This webinar will explore the unique challenges that can arise in a § 363 sale of the assets of a business involved in the energy industry, with a particular emphasis on oil and gas bankruptcies.

This ABI Live Webinar — New Developments in Student Loans: Need to Know — will focus on three areas: dischargeability litigation, treatment in Chapter 13 and the status of student loans as a national economic crisis. Presented by members of ABI’s Consumer Committee, the webinar will include perspectives from both the debtor and lender sides, offering practitioners valuable balanced insights that they can use in their daily practice.

Presented by ABI's Labor and Employment Committee, this webinar will address current employee- and labor-related issues in chapter 11 and out-of-court restructurings, including: (a) whether private-equity sponsors may be subject to pension fund withdrawal liability under ERISA in light of the First Circuit’s Sun Capital decision; (b) whether pension plan withdrawal liability is entitled to administrative claim status; and (c) the status of the Pension Benefit Guaranty Corporation’s moratorium on 4062(e) enforcement. Attorneys and other restructuring professionals who deal with the PBGC will learn about current developments in this dynamic and changing area of law, which plays an important role in many reorganizations today.

The Final Report of the Commission to Study the Reform of Chapter 11 is the culmination of more than two years of testimony, advisory reports and deliberations. In this 90-minute webinar, several members of the Commission and the official reporter will present the key findings as submitted to Congress. Written materials will be provided.

PRESENTED BY: Ethics & Professional Compensation Committee On Oct. 2, 2014, the U.S. Supreme Court granted certiorari in Baker Botts LLP v. ASARCO LLC, No. 14-103. Baker Botts, which represented debtor-in-possession ASARCO LLC in one of the largest and most complex chapter 11 bankruptcy cases ever, obtained a fee award from the bankruptcy court of $113 million for fees and costs, $4.1 million as an enhancement, and $5 million for defending its fee application. On appeal, the Fifth Circuit Court of Appeals reversed the $5 million award for defense of the fee application. Citing In re Pro-Snax Distributors Inc., 157 F.3d 414 (5th Cir. 1998), and Bankruptcy Code § 330(a)(3), (4) and (6), the Fifth Circuit held that compensation for defending fee applications was not allowable where the services provided were not likely to benefit the debtor’s estate or necessary to the administration of the estate. The ruling deviates from prior Ninth Circuit rulings. Would a ruling barring professionals from being compensated for successfully defending against challenges to their fees give too much leverage to the fee examiners and other parties willing to use the adversary process? In this 75-minute webinar, two seasoned bankruptcy attorneys will debate this hotly contested issue, moderated by an experienced U.S. Bankruptcy Judge. The Supreme Court’s ruling on this matter could have a major impact on bankruptcy practitioners nationwide. SPEAKERS Thomas J. Salerno Gordon Silver Phoenix, AZ J. Maxwell Tucker Squire Patton Boggs (US) LLP Dallas, TX Hon. Gregg W. Zive U.S. Bankruptcy Court (D. Nev.) Reno, NV

HOSTED BY: SECURED CREDIT COMMITTEE Make-whole provisions in loan documents, which compensate lenders for the loss of future interest payments when a borrower voluntarily prepays its debt, and no-call provisions, which prohibit the prepayment of debt before maturity, can greatly affect distributions to creditors in bankruptcy. The enforceability of these provisions has given rise to extensive litigation in such cases as AMR Corp. (American Airlines), School Specialty, GMX Resources and Chemtura. This 75-minute webinar will review recent decisions and the current state of the law concerning make-whole and no-call provisions. Key takeaways that practitioners should be aware of when drafting these provisions will also be discussed. SPEAKERS Charles Reardon Asgaard Capital LLC Vienna, Va. Stanley B. Tarr Blank Rome LLP Wilmington, Del. Andrew V. Tenzer Paul Hastings LLP New York

Hosted By: Legislation Committee Congress recently proposed legislation to repeal Title II of Dodd-Frank (the “Orderly Liquidation Authority,” or “OLA”) and replace it with chapter 14 of the Bankruptcy Code. This 75 minute webinar will provide a basic overview of the OLA, and will introduce participants to the current chapter 14 proposal providing for the reorganization or liquidation of large financial institutions. The discussion will explore the policies underlying chapter 14 and concerns surrounding the limits of chapter 11, as well as the potential effects that this proposed legislation would have on large financial institutions and bankruptcy practitioners. SPEAKERS Thomas Jackson University of Rochester Rochester, NY Stephen Lubben Seton Hall University South Orange, N.J. Reena Sahni Davis Polk & Wardwell LLP New York Dena Kessler, Moderator BakerHostetler Washington, D.C.

This webinar offers the ABI’s most advanced program on the 1111(b) election, and is designed for those who already have a basic understanding of this subject. Richard Bendix and Franklind Lea, two nationally recognized experts on 1111(b), will provide an insightful view of the election’s underlying mathematics and its effect on case strategy.