Business

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.

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).

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.

Chapter 11 filings are up in 2016, and so is the use of DIP financing. This panel of leading experts will discuss cutting-edge issues in DIP financing for large and middle-market cases, including how to leverage the best results whether you’re representing the DIP lender, subordinate secured creditors, debtor or creditors’ committee.

"This panel will address emerging professional responsibility issues in commercial cases, including a recent Seventh Circuit decision involving the duty to advise of alternative transactional structures and other competency issues that affect fee awards and liability, standards for fee awards, disclosure and disinterestedness problems, and conflict problems in retention and the curative limits of use of conflicts and special counsel. "

Presented by the Asset Sales and Unsecured Trade Creditors Committees

In ABI’s returning series on best drafting practices, we turn to plans and disclosure statements. Our panel will explore cutting-edge issues in drafting plans and disclosure statements, as well as current trends and best practices. This program will be geared toward small, mid-sized and large bankruptcy cases.

This panel explores DIP issues in a chapter 11 case and is intended to provide both fundamental information and an overview of emerging issues, including: What is the primary analysis that needs to be undertaken? How do you assess a 13-week cash flow? Who are your potential lenders, and what are the potential terms? What are the pitfalls and areas of concern for other parties in interest, the U.S. Trustee and the court?

This panel will present an examination of ethical and legal issues arising in the practice of bankruptcy law, with an emphasis on privacy, confidentiality and professionalism in the use of social media and networking.