New Jersey State Approved Sessions

This roundtable will provide updates from the Eastern and Southern Districts of New York (and surrounding areas) about court rules and practices, and discuss topics of general interest to the bar.

This panel will first discuss lessons learned from the extensive litigation over the past few years on “drop-down” and “up-tier” restructuring transactions in such cases as Murray Energy, Serta Simmons, TriMark, Boardriders, iHeart, La Paloma and White Box v. Trans Ocean. Next, we will examine some recent developments in fraudulent conveyance litigation, including challenges to transfers made in “Texas two-step” mergers (e.g., J&J); establishing fraudulent intent (Tribune); and recovering from subsequent transferees (e.g., Giant Gray; Madoff). Finally, we will discuss developments on equitable mootness, which continues to be litigated with differing results around the country.

This panel will cover makewholes, including an examination of Hertz and Ultra, a comparison of Second, Third and Fifth Circuit precedents and the recent makewhole premium dispute in Mallinckrodt; and structured dismissals in bankruptcy post-Jevic, including In re KG Winddown, Forever 21, Basic Energy and more.

This panel will discuss Code impairment and post-petition interest, provide an update on gerrymandering (including a examination of Consolidated Land Holdings LLC), and review third-party releases and the different outcomes that have occurred in different circuits.

This panel will cover convertible DIPs (LatAm, AeroMexico and Avianca) and sub rosa plans through DIPs. The panel will also discuss post-petition financing issues and protections for secured lenders, including how adequate protection is meant to work, and the ways in which judges are deploying it.

This panel will look at ethical issues that arise in the context of bankruptcy proceedings, including protecting common interest privilege and retaining and compensating professionals. Panelists will discuss recent cases and share best practices.

This panel will cover developments in cross-border restructurings, including the increasing trend in chapter 11 filings by international companies and resulting jurisdictional issues, the rollout of the EU directive and its impact on the international restructuring landscape, and potential challenges to recognition of a U.K. Part 26(A) “Super Scheme" in the U.S. Additional developments in chapter 15 case law will also be discussed.

The petition is filed. At the § 341 meeting, the trustee asks the debtor whether there have been any personal-injury actions, whether the debtor has the right to sue someone, and whether the debtor inherited any assets 180 days prior to the petition date or within 180 days after the petition date. However, debtor clients often intentionally or inadvertently fail to disclose an asset. This panel will explore best practices for dealing with these and other post-filing litigation pitfalls, and for handling cases where there are undisclosed or undiscovered assets.

Which contract counterparty rights survive rejection, and what can be done when negotiating a contract at the front end to plan for or defend against the rule of Tempnology? This panel will discuss these issues and more.