Asset Sales

Speakers: Roy S. Kobert, Moderator GrayRobinson; Orlando 1. Unbundling the Sticks: Can Debtor Counsel Limit Scope of Representation? PRO: James H. Cossitt James H. Cossitt, PC; Kalispell, Mont. CON: Guy G. Gebhardt Office of the U.S. Trustee; Atlanta 2. Eat Dirt! Can Secured Lenders be Forced to Take Title? CON: Lynn Welter Sherman Adams and Reese LLP; Tampa PRO: Harley E. Riedel Stichter, Riedel, Blain & Prosser, PA; Tampa 3. Welcome to the Laundromat! Can 363 Orders Scrub all Future Claims? PRO: John A. Anthony Anthony and Partners; Tampa CON: Elizabeth A. Green BakerHostetler; Orlando

This panel will present an in-depth discussion as to what rights and obligations a licensor and/or licensee has in a bankruptcy case. Section 365(c)(1), (g) and (n) will be highlighted, as well as the impact that the Sunbeam decision will have on the courts.

Resolved: The absolute priority rule should be eliminated in multi-debtor cases. Speakers: Pro: Hon. James M. Peck (ret.) Morrison & Foerster LLP; New York Con:Hon. Mary F. Walrath U.S. Bankruptcy Court (D. Del.); Wilmington Resolved: The provisions in 11 U.S.C. § 363 prime and take precedence over the rights that 11 U.S.C. § 365(h) grants to lessees, so accordingly trustees/debtors in possession can sell real estate free and clear of any lease rights a tenant might have in the sold real estate. Speakers: Pro: Carren B. Shulman Sheppard, Mullin, Richter & Hampton LLP; New York Con: Paul S. Singerman Berger Singerman, LLP; Miami Resolved: Creating mandatory claim mediation in mega-cases for all creditors should not be permitted as an unnecessary and inappropriate cost on smaller creditors. Speakers: Pro: Brian L. Shaw Shaw Fishman Glantz & Towbin LLC; Chicago Con: Jay M. Goffman Skadden, Arps, Slate, Meagher & Flom LLP; New York

Asset Sales/Secured Credit Committees: This panel will debate the controversial proposal being considered by the ABI Commission to Study the Reform of Chapter 11 to assess a charge or hold-back on secured lenders for a § 363 asset sale, including the pros and cons, mechanics, application in various circumstances, consequences and policy issues.

Ethics & Professional Compensation/Real Estate Committees: This panel will explore various ethical issues that often arise in a single asset real estate bankruptcy case from the perspectives of the debtor, secured creditor and bankruptcy judge — via an entertaining and interactive fictional case study.

This nuts-and-bolts panel will cover the mechanics of § 363 sales, featuring discussions on pros and cons, current trends and recent cases, with a particular focus on credit-bidding (Fisker, Philly News and Free Lance-Star) and challenges to free-and-clear-sales (GM, Chrysler, Energytec).

Do new opnions suggest doubt about the right of a lender to bid the full value of claims in Chapter 11?

Selling financially distressed hospitals, nursing homes, senior living centers and other health care providers, including acute care hospitals, critical-access hospitals and continuing care retirement centers, presents many unique challenges not found in most “typical” bankruptcy cases. Identifying these important differences, and executing plans to deal with them, can make the difference between preserving the enterprise and being forced to liquidate. Legal, financial, political and regulatory traps abound. This panel will provide an overview of these considerations and highlight how to address these matters in relation to their particular significance within the Midwest region.