Business

Limited liability companies are outpacing corporations as the preferred business form, but they are a newly popular type of entity. This panel will track LLC law as it rapidly evolves to deal with the unique issues LLCs present. How does the Bankruptcy Code interact with state law in handling these issues, including member- and manager-managed LLCs, single-member LLCs, LLCs as assets of an estate, charging liens, restrictions on attachment or transfer of membership interests, and forced insolvencies? Please join us as we examine the clues to unravel the case of this curious entity.

Is the legal profession’s vision for the law firm of the future already outdated? Can the law firm of today cope with the incredibly dynamic and changing competitive legal services environment, or will it go the way of the dinosaur? Greater and new competition in the forms of artificial intelligence, disruptive technology, the Big Four accounting firms, enlarged in-house legal staffs, and alternative legal service providers are eating law firms’ lunch. Clients are demanding service, efficiency and transparency in a way that puts tremendous pressure on the traditional law firm model. On top of that, the battle for the best talent is intensifying while the very nature of that talent is transforming as millennials start to dominate the talent pool. Our panel will discuss what a law firm must do to evolve and survive and how it potentially can thrive in a rapidly changing legal market.

Join the panelists as these experts from across the country debate which bankruptcy decision was the most important of all time!

What is consent, and how do you infer consent? This panel will discuss jurisdictional issues with third-party releases, as well as recent cases (Millennium Health, Gawker, SunEdison).

Towards a Eurocentric Model Law by the International Insolvency Institute

This panel will consider how to plan for and resolve disputes in family businesses/closely held partnerships/limited liability companies when there is a deadlock or unplanned event. What happens when the business is in financial distress, senior management suddenly dies, or ownership/management are in disagreement on the next steps for the business? The panelists will debate from various perspectives how best to navigate the corporate form to keep a good business model as a going concern. Issues may arise when the company’s president dies/walks away without a succession plan. How can the company continue? What about where the entity is a single-purpose one and commencing bankruptcy requires unanimity — are there fiduciary duties to consider? Different factual scenarios will be explored from the perspective of both secured lenders and company counsel, ranging from governance issues to enforcement issues (e.g., no succession plan, deadlocks on voting, no life insurance on president, and lender’s collateral). The panel will focus on considerations on voting, transactional and other governance issues both in and out of court.