No CLE

Six topical chapter 11 issues will be debated in a head-to-head format: (1) gifting; (2) classification; (3) Stern v. Marshall in the confirmation context; (4) Clear Channel sale issues; (5) assumption of debt; and (6) critical vendors. A panel of bankruptcy judges will ask questions and render decisions on each topic. Key issues that arise in the Ninth Circuit in connection with these topics will be emphasized.

A. Absolute Priority Rule in Individual Chapter 11s John A. Anthony Anthony & Partners, LLC; Tampa Michael C. Markham Johnson, Pope, Bokor, Ruppel & Burns, LLP; Clearwater B. Lifestyle Issues in Individual Chapter 11s David S. Jennis Jennis & Bowen, P.L.; Tampa Frank P. Terzo GrayRobinson, PA; Miami C. Exculpation of Professionals in Chapter 11 Plans Charles A. Postler Stichter, Riedel, Blain & Prosser, PA; Tampa Joseph Samet Baker & McKenzie LLP; New York

Consumer Debate Resolved: Limited-scope representation should be allowed in consumer bankruptcy cases. Brian T. Fenimore 102536, Moderator Lathrop & Gage LLP; Kansas City PRO: Theresa V. Brown-Edwards 211813 DARBY | BROWN-EDWARDS LLC; Wilmington, Del. CON: Hon. Robert D. Berger 185770 U.S. Bankruptcy Court (D. Kan.); Kansas City Business Debate Resolved: Bankruptcy judges are authorized to do structured dismissals in chapter 11 bankruptcies. Brian T. Fenimore 102536, Moderator Lathrop & Gage LLP; Kansas City PRO: G. David Dean, II 222886 Cole, Schotz, Meisel, Forman & Leonard, PA; Baltimore CON: T. Patrick Tinker 545420 Office of the U.S. Trustee; Wilmington, Del. Judicial Debate Resolved: A debtor can force a secured creditor to accept title to its collateral pursuant to a plan that provides for its surrender or vesting in that creditor. Brian T. Fenimore, Moderator Lathrop & Gage LLP; Kansas City PRO: Hon. Robert E. Nugent 105973 U.S. Bankruptcy Court (D. Kan.); Wichita CON: Hon. Arthur B. Federman 102540 U.S. Bankruptcy Court (W.D. Mo.); Kansas City

Resolved: The absolute priority rule should be eliminated in multi-debtor cases. Speakers: Pro: Hon. James M. Peck (ret.) Morrison & Foerster LLP; New York Con:Hon. Mary F. Walrath U.S. Bankruptcy Court (D. Del.); Wilmington Resolved: The provisions in 11 U.S.C. § 363 prime and take precedence over the rights that 11 U.S.C. § 365(h) grants to lessees, so accordingly trustees/debtors in possession can sell real estate free and clear of any lease rights a tenant might have in the sold real estate. Speakers: Pro: Carren B. Shulman Sheppard, Mullin, Richter & Hampton LLP; New York Con: Paul S. Singerman Berger Singerman, LLP; Miami Resolved: Creating mandatory claim mediation in mega-cases for all creditors should not be permitted as an unnecessary and inappropriate cost on smaller creditors. Speakers: Pro: Brian L. Shaw Shaw Fishman Glantz & Towbin LLC; Chicago Con: Jay M. Goffman Skadden, Arps, Slate, Meagher & Flom LLP; New York

Review of GSC case (bankruptcy court decision pending); what are the lessons of GSC for practitioners regarding disclosure, fee sharing, disinterestedness and conflicts, etc?; review of disinterestedness standards under § 101(14) and related disclosure requirements; additional ethics topic might include conflicts waivers (when is it necessary to obtain a waiver? Distinctions may be drawn based on current vs. recent vs. former clients, directly adverse vs. positionally adverse, relatedness to a prior matter, use of confidential information); Brown Publishing

This panel will feature a roundtable discussion with bankruptcy judges from the Ninth Circuit and across the country. The judges will share their thoughts and perspectives, as well as take questions from the audience, on topics of current interest in both business and consumer cases.

ABI has embarked on a significant review of the Bankruptcy Code of 1978. It has been more than 30 years since the Code was enacted, and a consensus has emerged that the current law needs an overhaul. The world has changed, including the financial environment and the operation of the markets, and the Code even as amended was not designed to deal with many of these changes. The ABI Commission to Study the Reform of Chapter 11 will study and propose reforms to chapter 11 and related statutory provisions that will better balance the goals of effectuating the effective reorganization of business debtors, with the attendant preservation and expansion of jobs and the maximization and realization of asset values for all creditors and stakeholders. Presenters will outline the work that the Commission has conducted to date, its mission and its findings. Further discussion will map out a way forward and perhaps include some crystal ball work to see what reforms might — ahem — emerge from Congress.

This panel will explain how to critically review tax returns and financial statements and address the issues and items a bankruptcy lawyer representing a debtor or creditor (both for consumer and business cases) should look for when reviewing financial statements and tax returns.