Georgia State Approved Sessions

Three cases in the last year have demonstrated that § 363 does not fix everything. In Dean Foods, § 363 did not protect the purchaser from the Sherman Antitrust Act; the purchaser was forced to divest itself of purchased assets in a U.S. DOJ antitrust action. In GNC, CFIUS interposed (unsuccessfully) to try to prevent the sale of assets to a Chinese company owned by the PRC government. Finally, in Exide, CERCLA rendered four contaminated properties unsalable, resulting in abandonment (arguably in contravention of the SCOTUS Midlantic decision, appeal pending). This panel will discuss these issues and more.

The Small Business Reorganization Act has been in force for over a year, and trustees, debtors, creditors and attorneys have spent the last year trying to work through what subchapter V means for them. This panel will discuss the case law that has developed, as well as the benefits and constraints of subchapter V on debtors and creditors. The panelists, featuring a trustee, judge, and debtors’ and creditors’ attorneys, will also discuss the implications of representing related entities and insiders, as well as navigating uncertainties in the new law.

This plenary will present two exciting debates on timely circuit split topics. Judges will be paired with emerging regional leaders to face off over key bankruptcy issues. Resolved: The automatic stay terminates automatically after a repeat filing only to property of the debtor, and not to estate property. Resolved: A “makewhole” provision may be enforced against a debtor and is not disallowed as “unmatured interest” pursuant to Bankruptcy Code § 502(b)(2).

This panel will address how we deal with the new crop of corporate zombies that have been emerging as a result of the influx of debt to balance sheets during the pandemic. What tools are available to address this phenomenon? When will the Fed’s credit-tightening or other regulatory requirements force regulated lenders and borrowers to address these issues? How will nonbank lenders react? Finally, how will the Main Street Lending Program (and the Fed’s role as lender) play into this discussion?

The panelists will continue the conversation on confirmation by examining judicial vs. market valuation, valuation in light of Speedcast Int’l., equitable mootness, exclusivity termination, and the latest developments in § 363 sales.

This panel will focus on impairment, TransWest issues, third-party releases, horizontal gifting related to Noverra and more.

This session will cover one-day cases and the impact of the extraordinary and unforeseen changes in the economy. Are death-trap plans permissible or bad faith? The panelists will also discuss feasibility in a post-COVID world and RSAs.

This panel will discuss the WARN Act, KERPs and KEIPs, vacation/sick time and the § 507(a)(4) cap, varying state laws on severance claims that are driving the locations of filings, and more.

The panelists will compare the leniency of bankruptcy courts vs. state courts in regard to real estate, including their flexibility on assumption/rejection and delayed rent payments, and the resulting impact on commercial properties and law firms, as well as adequate protection. The implications of the Fulton decision will also be discussed.

NO CLE Lunch with the judges and faculty from the morning’s panels, with new facilitators leading the discussions. Sponsored by BakerHostetler and Pachulski Stang Ziehl & Jones Confirmation: Brave New World? Damian S. Schaible Davis Polk & Wardwell LLP; New York Confirmation: The Rest of the Story Dan T. Moss Jones Day; Washington, D.C. The Changing Real Estate Landscape Lorenzo Marinuzzi Morrison & Foerster LLP; New York