Business Reorganization

A chapter 11 case can present a host of ethical pitfalls for unsuspecting attorney. Whether you represent debtors or creditors, this panel will discuss common ethical issues facing practitioners in a chapter 11 case.

Learn the various successor liabilities rules and considerations both under common law and specialized statutes, such as ERISA, and how those successor liabilities rules may be impacted by and impact a bankruptcy proceeding.

Resolved: Third-party releases should never be permitted. Resolved: Jevic does not apply to gifting.

This panel will discuss the viability of bankruptcy remote LLC structures after Intervention Energy Holdings and Lake Michigan Beach Pottawattamie Resort, and the fiduciary duties of members. The panel will also explore derivative claims, special concerns regarding single-member LLCs, and sales of LLC interests.

This session will highlight particularly interesting case law developments to date in 2017 and their impact on bankruptcy law and practice.

This panel features leading professionals in the chapter 11 practice area who were directly involved in the Jevic chapter 11 case, as well as a distinguished retired bankruptcy judge. This session will cover the underlying Jevic chapter 11 case, the Supreme Court’s opinion in Jevic and its impact on chapter 11 practice, and strategic alternatives in light of the decision.

Do you know and understand what’s in your DIP order? This panel will break down some examples of issues that create frustration for bankruptcy judges through inconsistent language, overreaching requirements, misinterpretation or fundamental flaws. Panelists will navigate the typical DIP motion through drafting to final order.

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.

This interactive nuts-and-bolts panel will discuss three phases of settlements in the context of a bankruptcy case: (1) negotiating a settlement, including evaluating the benefits of settlement versus litigation risk and expense, negotiating tactics and strategies, and the role of the mediator; (2) drafting term sheets and settlement agreements, an overview of the law on the enforceability of term sheets and settlement agreements (both pre- and post-court approval), and the components of the settlement agreement; and (3) consummating the settlement, with an emphasis on Federal Rule of Bankruptcy Procedure 9019 standards, the necessary components of a motion to approve compromise, presentation to the bankruptcy court, the bankruptcy court’s role in evaluating the settlement and the court’s order approving the settlement, the nonbankruptcy aspects of a settlement, and post-settlement actions.

This panel will feature a wide-ranging discussion of bankruptcy and other issues affecting the transportation and shipping industries, as well as the current and future financial stresses in the industries. Lessons from the Hanjin Shipping case will also be discussed.