2012

Let's Make It Clear: Federal Rules of Bankruptcy Procedure 3001 and 3002 and Lien-stripping in a Distressed Real Estate Market On Dec. 1, 2011, Federal Bankruptcy Rules of Bankruptcy Procedure 3001 and 3002 were amended to provide increased transparency in proofs of claim and costs assessed during chapter 13 cases. This panel will focus on the effects of these changes on debtors, secured lenders and chapter 13 trustees. We will also review recent lien-stripping litigation, including the latest “chapter 20” case developments.

This panel will discuss domestic support obligation (DSO) and alimony/property settlement dischargability issues. When does the automatic stay apply and not apply? Should a bankruptcy be considered before, during or after the divorce? What about exemptions? In addition, the panel will discuss the threshold amount that a trustee is likely to pursue, as well as locating real estate assets and checklists for managing a real estate asset. The panel will also examine procrastination as the greatest enemy of a chapter 7 trustee, and pushing an asset liquidation to closing as quickly as possible.

When is an individual Chapter 11 a better fit for your client? Think through an individual Chapter 11 plan and spot critical issues that can lead to success. A panel of experienced individual Chapter 11 practitioners will guide you, step by step, through a successful individual Chapter 11 case, and discuss problematic issues and solutions you can implement in your individual Chapter 11. Topics include: · Creating a budget on your schedules · Calculating your plan · Working with the US Trustee’s office · Tax issues · Application of the absolute priority rule · “Deemed” voting · “Reasonable and necessary” expenses · Addressing secured mortgage debts in the plan

ABI Labor and Employment Committee Webinar – a panel discussion of recent developments in several large complex bankruptcy cases, including Hostess, Kodak, Nortel and American Airlines.

Do “Out-of-the-Money” Creditors Have Standing? There are many chapter 11’s filed primarily to sell the collateral for undersecured creditors—meaning that there isn’t any value generated for unsecured creditors or equity. This panel will explore the various issues that result such as basic standing and the appropriateness of forming and maintaining a creditors committee and an equity committee. The panel will also discuss the various arguments put forth to justify a carveout or “gift” for unsecured creditors and the often used “pay-to-play” rule occasionally asserted by out-of-the-money creditor groups. It will also examine ways to identify unencumbered assets early in the case and the possible benefits of keeping them free from post-petition liens granted to DIP Lenders. Lastly, the panel will discuss ways to maximize the Chapter 5 claims and the use of liquidating assets.

Sharing a Piece of the Pie: Gift Plans, Structured Dismissals and Carve-Outs Often bankruptcy is the best way for under-secured creditors to optimize collateral recoveries. But the price for bankruptcy relief is that secured creditors must share their recoveries with out-of-the money constituencies. This panel will explore such sharing arrangements in a variety of contexts–carve outs, gift plans and structured dismissals.