Florida State Approved Sessions

NO CLE Credit Available - Free Session. Join in a dialogue led by former ABI Presidents: Richardo I. Kilpatrick Kilpatrick & Associates, PC; Auburn Hills, Mich. Melissa Kibler Knoll Mesirow Financial Consulting, LLC; Chicago Michael P. Richman Hunton & Williams LLP; New York

A detailed analysis of the many aspects of this important bankruptcy court decision.

Fraudulent transfer update (§ 546(e) (Lyondell, Tribune, Boston Generating)); Cortlandt; automatic stay litigation (i.e., requirement to turn over funds (Weber)); § 503(b)(9); aiding and abetting claims (Rural Metro); post-Stern consent to jurisdiction cases (Sixth, Seventh and Ninth Circuits and Supreme Court (Exec. Benefits, Wellness).

Conflicting ethics and professionalism under different jurisdictions; required disclosures; duties to the various courts; duties to your client; different fiduciary duties; the ethics of insolvency planning and COMI-shifting.

Topics may include selection of comparable companies; liquidity and marketability discounts; discounts for size and reorganization risk; determining a discount rate; option-based valuation methodologies (note that the panelists will discuss and highlight different positions that may be taken, but will leave it to you to decide which positions have more merit).

Nortel (two courts simultaneously trying allocation issues); Suntech, Barnet and subsequent bankruptcy court decisions on remand (recognition and § 109(a)); Fairfield Sentry Limited (sale of SIPA claims); enforcement of judgments (Argentina litigation, Madoff); filing of chapter 11 cases by foreign debtors (Alsacia); extraterritoriality issues regarding avoidance actions (Madoff decisions). Do Fairfield, Quimonda, and Madoff represent a retreat from the principle of comity set forth in chapter 15?

Constitutional and bankruptcy law issues raised by post-bankruptcy claims asserted by tort claimants, including finality of § 363 sale orders and due process.

Cramdown interest rate (Momentive); extent of security interest (ResCap); credit-bidding (Fisker, Free Lance-Star Publishing); date of collateral valuation. Will Till and Momentive change future bankruptcies? How will pre-bankruptcy and DIP financing change? What new or different issues will arise at the beginnings and endings of cases? Will contested confirmation become the norm? Will secured lenders be less willing to support a bankruptcy process? Will include discussion of changes proposed in the ABI Commission to Study the Reform of Chapter 11’s Final Report relating to secured creditor rights.

This two-part panel will cover a potpourri of current hot topics being litigated in chapter 7 and 13 cases, with a special focus on LVNV v. Crawford and related litigation, consumer protection (including the basics of credit reporting and regulatory actions), mortgage modifications and post-discharge actions, and the UST’s enforcement activities.

Discussion of EPF bankruptcy process issues. What are the duties of directors and their professionals in complex multi-debtor cases? More generally, when is it necessary to obtain a conflict waiver? Current vs. recent vs. former clients; directly adverse vs. positionally adverse; relatedness to a prior matter; use of confidential information; review of disinterestedness standards under Bankruptcy Code § 101(14) and related disclosure requirements; ABI Report on Standards of Professional Courtesy and Conduct.