No CLE

Join this accomplished panel of subchapter V trustees, financial advisors and one inquisitive judge as they discuss emerging trends related to the fair-and-equitable standard, including post-confirmation expenses (anticipated and otherwise), fluctuations in income, and other variables in the context of nonconsensual plans. This session emphasizes the critical role of financial advisers and subchapter V trustees with respect to a debtor's projected disposable income, as well as the creative financial alternatives that can be considered to fairly account for post-confirmation uncertainties.

This panel explores ways in which practitioners are avoiding the direct impact of Purdue by seeking to release only derivative claims. The panelists analyze the direct/derivative distinction more broadly by discussing its impact on what constitutes property of the estate, whether pursuit of a derivative claim violates the stay, and what claims an estate fiduciary has the power to bring under § 544, and discusses the Whittaker, Clark & Daniels decision.

Financial projections often reflect the intent behind their creation, whether for sell-side transactions, buy-side due diligence, bank credit assessments, operational budgets or chapter 11 exit plans. This session will explore how these purposes impact the reasonableness of projections, including the potential for bias and the role of divergent stakeholder perspectives. Insights from company management, investment bankers, private-equity sponsors, creditor advisors, litigation experts and judges will shed light on best practices for evaluating the reliability and objectivity of projections in valuation and solvency analyses.

With a focus on providing practical advice, this panel examines issues that may arise with respect to personal property in consumer bankruptcy cases. The panelists address current case law and issues related to property of the estate, valuations, exemptions, garnishments and turnover. Whether you represent debtors, creditors or trustees, this session is sure to be a “Wicked” good time.

Valuation often hinges on critical company-specific statistical and methodological decisions, raising questions about their necessity or potential for manipulation. This session will examine such topics as mean vs. median, discounts for lack of marketability, premiums for control, and size premiums and company-specific premiums, and will offer insights into how these decisions shape valuation outcomes.

In this session, trustees of all types — chapter 7, subchapter V, chapter 12 and chapter 13, together with an attorney for court-appointed fiduciaries and liquidating trustees — share their perspectives on the commonalities and differences under each chapter. The panelists discuss how to avoid common mistakes and offer tips for success for counsel to debtors and creditors. Is the trustee a friend or foe? What if a case converts from one chapter to another? Can a subchapter V trustee act as a mediator? What happens if a trustee suspects fraud? Do trustees have any discretionary powers? Join us and find out!

This panel provides an overview of commercial mortgage-backed securities (CMBS) financing and the role of special servicers in a distressed context. The panelists also provide recent insights into the CMBS market and practitioner trends from the panelists’ viewpoints.

Have you ever fallen in and then out of love with someone or something? If you have, was that love ever rekindled? Those questions set the stage for our Saturday morning plenary conversation between Prof. Melissa Jacoby, author of Unjust Debts, and Sam Gerdano, formerly the executive director of ABI. The story involves a deep analysis of, among other things, bankruptcy law’s origins, policy objectives, interpreting the Bankruptcy Code, lawyers’ ethical duties, and consequences in practice. Both Prof. Jacoby and Mr. Gerdano bring a wealth of experience and knowledge; it should be quite the conversation.

Valuation disputes are a critical tool for junior creditors in chapter 11 cases, but their effectiveness depends on strategic timing and approach. This panel will examine key moments where valuation issues arise, including DIP/priming fights, adequate protection and financings with equity rights. Topics will include timing considerations such as access to valuation data, the impact of ongoing sale processes, and cost-benefit analyses. The panelists also will provide insights into how junior creditors can tactically engage in valuation disputes to protect their interests while navigating the complexities of large chapter 11 cases.