No CLE

This panel will discuss how to make sure management (and the board) plays the role of neutral stakeholder throughout a plan and/ or § 363 process. Can the same board and management team truly represent the interests of stakeholders of BOTH a corporate parent and its subsidiaries? What if there are dozens of affiliates whose creditors have disparate interests? Why is the issue of corporate separateness (and related conflicts) overlooked in some multiple-debtor cases, but addressed in others? What are the pros and cons of various tools for addressing potential conflicts? Who should investigate when issues are raised about the validity of intercompany debt, the reasonableness of cost allocations, the ownership of intellectual property and the potential for fraudulent conveyance claims among debtors? Examples discussed may include Nortel, Caesars, EFH, Lehman, Tribune and others.

This panel will address a variety of current issues including “disinterestedness” and “the 1% Rule,” attempted workarounds in the aftermath of Baker Botts v. ASARCO LLC and other ethical challenges, along with guidance under various applicable Rules of Professional Conduct, such as rules regarding fees (RPC 1.5), confidentiality (RPC 1.6), conflicts of interest (RPC 1.7) and candor with the court (RPC 3.3).

This panel will provide a brief, general overview of the mechanics and statutory framework for involuntary bankruptcies, with more in-depth discussions of current hot-button issues, including petitioning creditors’ good faith/bad faith, the conflicting approaches taken by various circuits in determining whether a petitioning creditor’s claim is subject to a bona fide dispute, and the potential legal fees and damage claims petitioning creditors face if their involuntary petition is ultimately dismissed.

This panel will provide a brief, general overview of the mechanics and statutory framework for involuntary bankruptcies, with more in-depth discussions of current hot-button issues, including petitioning creditors’ good faith/bad faith, the conflicting approaches taken by various circuits in determining whether a petitioning creditor’s claim is subject to a bona fide dispute, and the potential legal fees and damage claims petitioning creditors face if their involuntary petition is ultimately dismissed.

Presented by the Business Reorganization and Financial Advisors & Investment Banking Committees

Litigation over what constitutes projected disposable income continues unabated post-BAPCPA. Is Social Security income included? Is a nonfiling spouse’s income included? What about the income of a significant other who is a nondebtor? Can a debtor make voluntary retirement contributions, or are they considered part of projected disposable income? This panel will address some current tricky issues in this area.

This panel will address the unique issues presented when matters involving fraud, including Ponzi schemes, arise. The discussion will include best practices for responding to, or managing, fraud allegations directed to a client inside and outside of bankruptcy, addressing and investigating fraud from an accounting perspective (including strategies for identifying hallmarks of fraud), and current developments in case law relating to fraud and Ponzi schemes in the bankruptcy context.

Representing public figures whose livelihood depends on their public image presents particular challenges for bankruptcy professionals. This panel of lawyers, each with their own experiences representing celebrities and other prominent figures in their bankruptcy cases, will share their thoughts on the process and the issues that are unique in these cases.