North Carolina State Approved Sessions

This program will cover recent developments in distressed-asset sales. Topics will include successor liability, finality of sales and adherence to procedures, the interplay between §§ 363 and 365(h), intellectual property sale issues, break-up fees, collusive bidding issues and other topical issues.

An issue consistently raised during the course of the Consumer Bankruptcy Fee Study was the effect of higher bankruptcy costs and the cumbersome and time-consuming bankruptcy process on distributions to unsecured creditors. Given that increasing creditor distributions was a reason for BAPCPA’s enactment, that this question was ripe for exploration. Prof. Lupica will present the findings of her study and the panel will discuss.

This first session of a new “skills” seminar series will examine documents that are often used to restructure debt outside of bankruptcy. Learn the purpose and legal underpinnings of the various component parts of frequently used workout documents such as forbearance agreements, intercreditor agreements and restructuring/override agreements. The panel will focus on real-world examples of good and bad provisions of workout documents and will provide drafting tips.

"Past President's Debate: Resolved: The chapter 11 model is no longer viable for middle-market businesses. Consumer Debate: Resolved: Section 523(a)(8) should be repealed or amended to allow for the discharge of all student loan debts. Judicial Debate: Resolved: Section 546(e) does not apply to each and every link in a chain of transactions resulting in a ""settlement payment"" that is protected by the safe harbor provisions."

Real Estate Short Sales and Carve-Outs

Being a debtor isn’t a crime, but some debtors are criminals. This panel will discuss various ethical, civil and criminal issues that can arise in a bankruptcy case, including an attorney's duties following the discovery of possible criminal acts by a current/prospective client, how to get paid and not go to prison, the scope of the Fifth Amendment privilege, and obligations arising from a criminal subpoena.

This year’s installment of the Boris Badenough ethics play centers primarily around Boris’s romantic problems, rather than his traditional financial woes. Boris’s latest wife, Sophia “Sting” Shire, an up-and-coming photo artist, has just filed for divorce and is seeking to void her prenuptial agreement with Boris so she can get the $100,000 per week in support she believes she is entitled to. Boris isn’t distressed about the loss of his sixth (or is it seventh?) wife, but the fact she wants money and half of his massive snowglobe collection enrages him. However, Boris has a plan to put Sting into an involuntary bankruptcy with two other creditors, have a trustee appointed (Boris does know how to dig up dirt!) and settle any claims that Sting may have with her trustee for a small amount of his hoard. Unfortunately for Boris, Sting and her counsel, Bill “Bo” Baggins, have a few tricks of their own up their sleeves, including the discovery of Boris’s deepest and perhaps most profitable secrets in Hidden Hoard LLC, a company Sting owns 1% of (through Boris’s attempt to make her a minority contractor). Will Baggins and Sting be able to discover the secret Hidden Hoard, or will Boris’s counsel, Tom “Bomber” Dill, prevail and save his client’s “preeciousss”?

You'll have to join us to find out what this one is about. Have lunch with several of the judges at the conference; have your questions and comments ready. If you would like to include a boxed lunch ($50/person), please check the appropriate box on the registration form. You may also bring your own lunch, but don't be late!!!!

Discussion on the chapter 7 trustees’ powers to do a carve-out, the new use of short sales in chapter 7, and the most effective way to sell assets in today’s economic environment. Does the creditor have a say in the trustee’s course of action?

We will explore the nuts and bolts of motions, scheduling and transcript review of a 2004 examination and the differences between a 2004 examination and a deposition. Learn techniques on prepping a witness for examination, how to handle the hostile witness, which objections should be preserved during the examination, and other tips and pointers to ensure that your examination is successful.