International Insolvency

ABI Past-Presidents Panel on Current Developments in the News

This panel will discuss how to examine and cross-examine an expert witness and respond to judges. Through a fact pattern/role-playing approach, the panel will cover issues related to valuation and plan confirmation.

This panel is devoted to four interrelated topics in Ponzi scheme cases, including (1) distribution methodology issues; (2) criminal vs. civil forfeiture; (3) the tension between U.S. and non-U.S. distribution schemes; and (4) additional issues, including collateral source recovery and the ability to assert personal jurisdiction over extraterritorial plaintiffs to enjoin proceedings that, if brought in the U.S., would violate the automatic stay.

This panel will discuss practice tips during the pre-trial discovery period, as well as during the trial itself, related to the handling of evidence and objections thereto; discuss the proper use of post-judgment motions related to reconsideration and requests to amend findings of fact and conclusions of law; explain the appeals process, including motions for stay pending appeal; and explain certain important local rules, as well as updates that have occurred and those that will be coming.

This panel will explore the ethical considerations and best practices available to attorneys and financial advisors to financially distressed businesses looking to eschew their home court in favor of a U.S. court and the chapter 11 remedy. On the flip side, this panel will also explore the ethical considerations and best practices available to attorneys and financial advisors to creditor constituencies who are trying to keep a case at home and as far away as possible from a U.S. court administering chapter 11. In our age of globalization, where a case is administered can make all the difference; consequently, forum-shopping is often a major consideration for advisors. Advisors to financially distressed companies must ask themselves which practices are ethically appropriate and which are not, as well as which practices “work” to create U.S. jurisdiction and which are not as effective. Conversely, advisors to creditor constituencies must ask themselves what practices are ethically appropriate and most effective to keep a case at home and away from chapter 11.

This panel will explore recent developments with respect to the absolute priority rule using a fact pattern/role-playing approach focused on the “Old San Juan”, a mythical family-owned hotel in Puerto Rico.

Years after the creation of the concept of domestic-support obligations, the panel will discuss how bankruptcy courts have interpreted this concept and how “alimony, maintenance and support” is a key element in BAPCPA cases. The presentation will also highlight the complex relationship between bankruptcy and domestic-relations law, and whether bankruptcy courts are bound by state courts’ determinations when issues of claim classification are raised. This panel will also discuss the criteria for the approval of applications for employment and reimbursement of fees, the role of the different trustees in those processes, the independent role of the bankruptcy judges and the consequences of not filing a timely application. Consideration will be given to the perspectives of debtor’s attorneys, special counsel, other professionals and secured creditors’ attorneys.

In addition to discussing the latest developments and cases under U.S. chapter 15, this panel will also focus on recent decisions dealing with the issues of the “center of main interest” (Fairfield Sentry), individual chapter 15 cases (Kemsley), intellectual property (think3, Inc.) and asset sales (Elpida Memory).