No CLE

Cash-collateral, DIP-financing, § 363 bid-procedure and assumption-of-restructuring-support-agreement orders all enter into the early stages of a chapter 11 case, and all have the potential to dictate how the case will end. Some argue that setting a firm course for the case in the early days promotes efficiency and recognizes the financial realities posed by current capital structures. Others argue that those same orders, fashioned by a small subset of the creditor constituencies, preclude all but those at the top of the capital structure from having an effective voice in the case. The panelists include people on both sides of that debate, and the discussion will feature such topics as benchmarks in DIP financing and cash-collateral orders, recent developments in bid-procedure orders such as the recent approval by some courts of multiple breakup fees and of a no-shop clause, and just how far a restructuring support agreement can go in a pre-negotiated case.

Through the EB-5 immigrant investor program, a foreign national can invest at least $500,000 into a qualified project, and if that investment leads to the creation of at least 10 jobs in the U.S., the investor becomes eligible for permanent U.S. residency. The EB-5 Program has expanded dramatically over the last decade, typically with USCIS-qualified “regional centers” pooling investments to provide inexpensive liquidity to real estate developments and other businesses. This panel will discuss recent developments and issues involved in EB-5 restructurings and chapter 11s.

This session will be an interactive program that will inform participants and provide guidance concerning fundamental issues and best practices surrounding professional responsibility and ethical conduct. Part trivia, part panel presentation, the session will engage participants to self-select “answers” from several Jeopardy categories focused on issues of interest, then provide the corresponding “questions” (prizes will be awarded). For each answer/question, our panel will provide analysis and commentary. Plus, you get ethics credit just for showing up!

Join in this discussion on a plethora of current ethical issues, including when it is necessary to obtain a conflict waiver (current vs. recent vs. former clients); directly adverse vs. positionally adverse; relatedness to a prior matter; use of confidential information; review of disinterestedness standards under BC § 101(14) and related disclosure requirements; the ABI Report on Standards of Professional Courtesy and Conduct; Caesars litigation over disinterestedness of debtor’s counsel; professionals retentions and disclosure requirements (disclosing conflicts and the Jay Alix/McKinsey litigation); and litigation financing in the liquidating trust context.

This panel will provide an evidence overview and primer to cover the surface issues and underlying basic evidence considerations practitioners should contemplate for their practices.