Small Business

Join our panel to discuss and analyze the latest bankruptcy issues facing commercial cases today, as well as important bankruptcy and insolvency issues from the Supreme Court, circuit courts of appeals and lower courts, and issues that could be in front of the appellate courts in the year to come.

The long countdown to the Small Business Reorganization Act (SBRA) is over! The law takes effect on February 19. Thousands of struggling small businesses will now have a faster, cheaper and more efficient process for filing Chapter 11. SBRA includes several significant changes to current law. Join our panel to update your legal toolbox so you’ll be ready when businesses come calling. Learn more at: https://www.abi.org/sbra

This session features a panel discussion covering new legislation (Small Business Reorganization Act, HAVEN Act, Family Farmer Reorganization Act, new Rules, new Procedures and new Administrative Orders), as well as proposed changes to PACER and operating programs for electronic filing.

With the legalization of marijuana in many states, there are now large numbers of individuals and businesses that derive their income from growing and selling marijuana and from other business activities related to marijuana. This session addresses the issues that emerge when individuals and businesses in this industry encounter financial problems. What are the sources of governing law (state/federal)? Is bankruptcy an option? How are marijuana-related income and assets treated? What are a bankruptcy trustee’s rights and responsibilities in dealing with a marijuana-related business? What ethical issues arise for attorneys representing individuals and entities in this industry? How does the U.S. Trustee’s Office address these issues in light of the conflict between federal law and some states’ laws? What is the direction of the developing body of bankruptcy case law regarding this industry?

This session will focus on pending legislation that may affect your practice, and on ABI’s latest recommendations regarding personal bankruptcies. What are the latest developments and strategies to address student loans? Is a legislative fix for the student loan crisis really in the works (H.R. 2366)? What would the small business bankruptcy bill do, and where does it stand? Will veterans' benefits become exempt from means testing? The session will also cover other notable legislative actions, as well as the key takeaways from the Final Report of the ABI Commission on Consumer Bankruptcy.

It is difficult to confirm reorganization plans in small business cases and individual chapter 11 cases. This panel will discuss best practices in getting these types of cases across the finish line.

With the legalization of marijuana in many states, there are now large numbers of individuals and businesses that derive their income from growing and selling marijuana and from other business activities related to marijuana. This session addresses the issues that emerge when individuals and businesses in this industry encounter financial problems. What are the sources of governing law (state/federal)? Is bankruptcy an option? How are marijuana-related income and assets treated? What are a bankruptcy trustee’s rights and responsibilities in dealing with a marijuana-related business? What ethical issues arise for attorneys representing individuals and entities in this industry? How does the U.S. Trustee’s Office address these issues in light of the conflict between federal law and some states’ laws? What is the direction of the developing body of bankruptcy case law regarding this industry?

When financial trouble hits the closely held business, a more complicated structure often lurks below the surface. What the “family” views as a single business may actually be several entities with a long history of intercompany transactions. Conversely, one generation may have transitioned out of the business but might still be receiving compensation from the business under the control of the next generation. The problems are heightened when your contact at the client is an individual who wears various “hats,” including president, board chair, CEO and potential defendant. How does the professional deal with the conflicts and consequences of transactions with insiders and affiliates, particularly where the financial resources of the business and individuals are already stretched thin before adding the layer of professionals that come with any bankruptcy proceeding? This panel of experienced restructuring professionals will discuss the legal, ethical and financial issues raised by family conflicts, and provide their unique legal insights and practical advice.

John W. Lucas, Moderator Pachulski Stang Ziehl & Jones LLP; San Francisco Judicial Debate Resolved: Structured dismissals of chapter 11 cases must always follow the Bankruptcy Code's priority structure. Pro: Hon. August B. Landis U.S. Bankruptcy Court (D. Nev.); Las Vegas Con: Hon. Deborah L. Thorne U.S. Bankruptcy Court (N.D. Ill.); Chicago Business Debate Resolved, a company deriving income indirectly from marijuana sales that are legal under state law should be eligible for relief under the Bankruptcy Code. Pro: Daniel J. Garfield McAllister Law Office P.C.; Denver Con: Candace C. Carlyon Morris Polich & Purdy LLP; Henderson, Nev. Consumer Debate Resolved: The filing of a Proof of Claim, for a debt on which the statute of limitations has run, is a violation of the FDCPA. Pro: Stephen E. Berken Berken and Associates; Denver Con: Alane A. Becket Becket & Lee, LLP; Malvern, Pa.