Delaware State Approved Sessions

Retail was in the midst of a fundamental shift before the pandemic.  COVID-19 forced retailers to innovate or closes their doors forever.  This panel will discuss bankruptcy case and code developments during the pandemic, but we will also discuss the extent to which we believe the pandemic accelerated retail trends that were already underway or whether the changes reflect true evolution in the retail space.  This panel will ask the audience to share what they are seeing in retail near home, with a hope of gathering a current perspective on retail innovation and survival. 

Hosted by ABI's Commercial Fraud and Young and New Member Committee Hear tips and real-life stories from industry experts on how best to pursue a career path in commercial fraud and fraud litigation. *CLE isn’t available in VA.

First Day by Reorg Midyear Review: 2020 Bankruptcy Boom Subsides; 2021 Real Estate, Hotel Chapter 11s Peak In a presentation moderated by ABI Editor-at-Large Bill Rochelle, the First Day by Reorg Research, Inc. team will provide an overview of its midyear review, detailing chapter 11 filings data and trends during the first half 2021. They will provide industry-level insights across various sectors and highlight key takeaways. Background to the First Day by Reorg Midyear Review 2021 Coming off a record-setting year of chapter 11 filings in 2020 as the COVID-19 pandemic swept the globe and impacted multiple industries, the first half of 2021 trended well below historical averages, with a low point in May. Compared to the busiest second and third quarters of 2020, when consumer discretionary sector cases and, in particular, brick-and-mortar-heavy companies were filing with unprecedented frequency, 2021’s H1’s consumer discretionary chapter 11 cases dropped by almost half. Real estate was the only industry to see an increase in chapter 11 filings, as compared with both H1 2020 and H2 2020, as hotels and commercial real estate struggled.

Chesapeake Energy, an exploration and production company, filed for chapter 11 on June 28, 2020, in the Southern District of Texas and emerged from bankruptcy on Feb. 9, 2021. This session’s panelists, all of whom were involved in the bankruptcy court hearings, will contrast (in a non-advocating fashion) the different valuation methodologies used by the debtors’ and UCC’s valuation experts with the primary legal arguments raised by the debtors’ and UCC’s legal teams.

This panel will focus on the impact of government funding and other recovery programs on valuation in health care, life sciences and other industries. The panelists also will discuss how traditional methods of valuation are being challenged by the current situation, and the programs that have emerged to address the resulting distress.

This panel will focus on the impact of government funding and other recovery programs on valuation in health care, life sciences and other industries. The panelists also will discuss how traditional methods of valuation are being challenged by the current situation, and the programs that have emerged to address the resulting distress.

Short- and long-term governmental goals linked to zero-carbon electricity-generation have fostered the increased deployment of renewable energy sources and improved transmission and storage distribution. In turn, renewable and alternative energy sources — in tandem with systemic lower natural gas prices and lower electricity demand — have and will continue to cause distress in the merchant power sector, notwithstanding random black swan events like February’s storm in Texas. No doubt the road ahead will be ridden by complexity, not just in relation to market, environmental and economic dynamics, but because of the outsized role Federal law plays in the industry, including the Committee on Foreign Investment in the United States, the Energy Policy Act of 1992, the Federal Power Act and the Bankruptcy Code. This session’s panelists, all of whom have experience in the renewable energy and power sectors, will discuss valuation and other relevant issues in the context of expanding alternative and renewable energy sources, and the pressures this expansion will have on the merchant power sector.

Join us for a robust discussion concerning Ethics in Healthcare Insolvencies, where the panel will explore a myriad of issues, including: ethical implications in the context of valuing healthcare companies or providers in the age of COVID-19 (where we were, where we are, where we may be going); the concomitant impact on valuation of healthcare companies or providers vis-à-vis increasing the minimum wage and providing the required level of care; capital allocation between patients’ medical needs and fiscal responsibility and management as healthcare companies or providers face restructuring or liquidity issues; steps directors and officers of healthcare companies or providers should consider when they are insolvent (e.g., deciding whether to restructure or file bankruptcy; to whom do the fiduciary duties flow (e.g., to creditors, still to patients, etc.); duty to transfer patients of closing healthcare business and restrictions on transfers; termination of provider agreements or assumption and assignment; and lender issues.

While COVID-19 has led to a substantial increase in the number of bankruptcy filings, its impact on valuation issues in the context of chapter 11 cases is less clear. Employing their differing perspectives, the panelists will explore how the uncertainty created by COVID-19 has affected the analysis of issues like plan feasibility, cost of capital, the pricing of risk, and the application of valuation methodologies in chapter 11 proceedings, with a particular emphasis on retail cases.

It's no secret that large-chain entertainment companies such as theaters and theme parks have been suffering through the pandemic. This panel will discuss restructuring options, hurdles and prospects for a broad array of these entities. The panelists will also discuss and debate the dynamics related to the fact that company projections and capital markets have priced in substantial recoveries for these entities in the second half of 2021.