Practice and Procedure

This October 22, 2020 session from the Insolvency 2020 Summit addresses the use of technology by bankruptcy professionals inside and outside of the courtroom. The panel covers practicing in court in a pandemic, lawyers behaving badly, use of technology, lawyers and law firms as bankruptcy debtors, and best practices in fee applications.

Come join our experienced panelists as they share practical applications of mindfulness that you can use every day at work and home. Areas include being less reactive in challenging situations, listening more effectively and gathering more useful data, more skillfully entertaining uncertainty, and feeling less stressed in general. You'll learn basic mindfulness and relaxation exercises and tips for incorporating them into your day.

A better understanding of what trustees do in their day-to-day work can help debtors and credit and finance professionals appreciate some of the complexities of the bankruptcy process. Bankruptcy trustees are often painted as the bad guys: Creditors sometimes think that trustees sell assets at bargain-basement prices for a quick result, or that they're only in it for the fees, and debtors may view the trustee as their arch enemy. But the role of bankruptcy trustees is very challenging, involving and rewarding — not to mention highly regulated. Their work has been further complicated by the emergence this year of subchapter V trustees. This session will provide a better understanding of what trustees do, and will compare the roles of chapter 7 trustees versus the newly minted subchapter V trustees to help debtors and credit and finance professionals appreciate some of the complexities of the bankruptcy process, primarily when it comes to (1) appointment processes; (2) roles; (3) day-to-day duties; (4) fiduciary duties; (5) compliance obligations; (6) immunity, liability and court supervision; and (7) the steps to take to make the trustee happy.

The novel coronavirus has certainly induced many systemic changes around the world, and the bankruptcy and restructuring industry is no exception. What once worked in a pre-COVID-19 world might not work anymore, so parties must adapt quickly, often with no precedence upon which to rely. This panel will discuss the idiosyncrasies and novel ways bankruptcy practice is operating, restructuring and adapting to a “new normal,” and how constituencies on all sides of the table are approaching its unique aspects.

As Bankruptcy Courts hold hearings across a variety of remote platforms, how can attorneys and other bankruptcy professionals ensure they are most effectively representing their clients? This expert panel will discuss best practices for appearing remotely, offering tips on preparing witnesses for testimony, presenting an effective “virtual” courtroom presence, and maintaining proper courtroom etiquette in the new normal, and will also address several ethics considerations in our new "Virtual" reality. These include: Coaching the witness (or not!) Maintaining privilege/confidentiality when dealing with co-counsel and clients over a remote platform in real time

The panel, featuring a judge, opposing expert witnesses and opposing counsel will present a role play type discussion on valuation testimony in bankruptcy court. The focus of the discussion will be on best practices in attacking and defending expert witness testimony and will also touch on recent pandemic issues impacting valuations.

Alix v. McKinsey Resolved: A financial advisor is required to disclose all connections, including the connections of its affiliates, when filing an application to be employed with the Court. The Ethical Response to Client Misconduct Resolved: If a client either refuses to comply with an obligation imposed by the Bankruptcy Code or Rules, or insists on taking action prohibited by the Code or Rules, the client’s attorney must file a motion to withdraw from representing the client and must disclose the disagreement regarding the client’s legal obligations.

Sponsored by The Consumer Bankruptcy Committee The panel will explore the new requirements for filing and confirming a small business case under the new Subchapter V of Chapter 11 of the Bankruptcy Code, which became effective on February 19, 2020, and will address the potential issues you and your clients are likely to confront in seeking to successfully effectuate a reorganization thereunder. The new small business Subchapter V presents a more efficient way to facilitate a reorganization of a small business debtor by reducing the requirements and eliminating other impediments that previously hampered such cases.

“Burnout” is officially classified as a legitimate medical diagnosis by the World Health Organization in its International Classification of Diseases handbook, which guides medical providers in diagnosing diseases. According to the handbook, a stressed-out, unhappy attorney who does not want to practice law any longer can be “officially” diagnosed with burnout if he or she meets certain symptoms. Burnout is a syndrome conceptualized as resulting from chronic workplace stress that has not been successfully managed, and it is characterized by three dimensions: feelings of energy depletion or exhaustion; increased mental distance from one’s job, or feelings of negativism or cynicism related to one's job; and reduced professional efficacy. This session will shine a spotlight on practitioner mental health and coping with burnout and stress.