No CLE

This panel will present a review of the current state of the law as to when a foreign entity can file a main proceeding vs. an ancillary proceeding in bankruptcy court, what interest is sufficient for a main or ancillary proceeding, cross-border insolvency protocols, challenges faced by foreign representatives (Octaviar, Rede Energia; Baha Mar, Fairfield), COMI (OAS S.A., Suntech), conflicts of law in fraudulent transfer litigation, recognition of foreign judgments in U.S. proceedings, and dealing with foreign boards or administrators of parents or subsidiaries.

This panel will present a review of the current state of the law as to when a foreign entity can file a main proceeding vs. an ancillary proceeding in bankruptcy court, what interest is sufficient for a main or ancillary proceeding, cross-border insolvency protocols, challenges faced by foreign representatives (Octaviar, Rede Energia; Baha Mar, Fairfield), COMI (OAS S.A., Suntech), conflicts of law in fraudulent transfer litigation, recognition of foreign judgments in U.S. proceedings, and dealing with foreign boards or administrators of parents or subsidiaries.

This session will deal with a mixture of the most topical and unsettled issues in chapter 13 cases coming before the courts. What happens to the case if a debtor becomes deceased or incapacitated? Can a debtor force a creditor to accept a surrender of property? The panel will also cover explaining to a debtor what tax obligations will remain post-discharge, dealing with model plan provisions, modifications and conflicting plan provisions, and understanding the new chapter 13 forms for creditors.

This session will deal with a mixture of the most topical and unsettled issues in chapter 7 cases coming before the courts. What does a debtor do if the court denies a reaffirmation agreement but the debtor needs the car? If no reaffirmation agreement is signed, can a case be later reopened to permit a reaffirmation agreement at a creditor’s request? What are debtors’ attorneys’ responsibilities in counseling debtors about potential preferences and fraudulent transfers that they made to family members and friends? What remedies does a chapter 7 trustee have when a debtor breaches his or her duties under § 521? Are student loans consumer or nonconsumer debts for purposes of means testing?

This panel will compare and contrast actions under §§ 707 and 727, with input from debtor’s counsel, the U.S. Trustee, the court and the chapter 7 trustee. The panel will discuss other current issues affecting parties in consumer bankruptcies, such as effects on the system caused by pro se debtors and how the system is handling those debtors, and how the new forms are affecting the effectiveness of the system.

Oil, gas and energy are the hottest areas in bankruptcy right now. As this is an industry that suffers from volatile market conditions, with its earnings linked to ever-depleting reserves, companies involved in or dependent on the exploration, development and production of oil and gas present unique issues for the bankruptcy practitioner. This panel will include the viewpoints of legal professionals from both the debtor and the creditor sides, an economist focused on the oil and gas sector, and a trust administrator with a large energy portfolio under management. The presentation will start with an introduction to oil and gas chapter 11 cases, identifying the players, the lexicon and the deal documents. The focus will then turn to the impact of the Bankruptcy Code on title to oil and gas interests, liens that can interfere with the estate’s rights, determination about whether oil and gas industry contracts are executory contracts (including assumption or rejection of midstream gathering agreements and oil and gas leases), the impact of § 541(b)(4) provisions that exclude from property of the estate certain rights of holders of farmed-out agreements and production payments, and plugging and abandonment obligations. Finally, the panel will discuss how the industry got to its present state, its outlook going forward, and how market turmoil has impacted related sectors such as power generation.

How are cash-collateral orders and adequate-protection packages being fashioned in E&P bankruptcies, and what intercreditor issues can arise as a result? This panel will discuss questions relating to lender collateral that may surface in E&P cases, such as (1) the absence of blanket liens, liens on reserves and cash as security; (2) the impact of state law defining property rights in such assets as royalty streams and leasehold interests; and (3) contract interpretation issues involving prepayment agreements and other arrangements. The panel will also discuss E&P valuation issues and their relationship to the commodity pricing cycle, as well as environmental obligations and pension/OPEB issues (e.g., Peabody).

How are cash-collateral orders and adequate-protection packages being fashioned in E&P bankruptcies, and what intercreditor issues can arise as a result? This panel will discuss questions relating to lender collateral that may surface in E&P cases, such as (1) the absence of blanket liens, liens on reserves and cash as security; (2) the impact of state law defining property rights in such assets as royalty streams and leasehold interests; and (3) contract interpretation issues involving prepayment agreements and other arrangements. The panel will also discuss E&P valuation issues and their relationship to the commodity pricing cycle, as well as environmental obligations and pension/OPEB issues (e.g., Peabody).

New and emerging issues in intellectual property monetization and valuation in and out of bankruptcy court, including recent case updates from Radio Shack, and Facebook; emerging issues on ownership and valuation of social media accounts, and other recent intellectual property valuation issue beyond the basics.

This program will explore current hot-button topics relating to the drafting and confirmation of chapter 11 plans. The issues discussed will including drafting to accommodate, as well as to either encourage or discourage § 1111(b) elections, and the strategy of holders of secured claims in either making or not making that election. It will also include a discussion of third-party releases and injunctions, using recent cases in the First Circuit to illustrate when such releases are, and are not, appropriate. Finally, the panel will explore the tension between class-skipping carve-outs or “gifts” and the requirements of confirmation, how to deal with corporate debt defined by § 1141(d)(6) as being not dischargeable, compensation of committee members and the role of existing equity.