Ethics

This panel will focus on the irrational biases for decision-making in bankruptcy. The essence of bankruptcy is deciding how to divide the debtor's metaphorical shrinking economic pie among qualified creditors. At its optimum, bankruptcy decision-making is efficient and rational. However, at other times even the most skilled bankruptcy practitioners are stymied by the inability of bankruptcy participants to make seemingly rational business decisions. Why can't everyone be rational? Decision-making is not a rational process. Behavioral economic scholars such as Daniel Ariely and Daniel Kahneman explain that we all have psychological biases that interfere with our ability to make objectively rational decisions. Bankruptcy practitioners who understand these biases learn strategies to influence them and thus enhance optimal bankruptcy decisionmaking.

Financial Advisors Track: Current Issues for Financial Advisors in Bankruptcy Cases This panel will discuss the various governance, operational and quasi-legal issues that financial advisors deal with on a day-to-day basis before, during and after the commencement of a chapter 11 case. Topics will include addressing management fraud, dealing with ERISA/labor/WARN Act/union issues, navigating corporate governance issues, Dodd-Frank compliance, and the state of the law on pursuit of accounting and securities fraud claims.

Financial Advisors Track: The Ethical Compass: Multiple Ethical Schemes Applicable to Financial Advisors This panel will focus on the variety of rules, statutes and codes that govern the conduct of financial advisors, including the Bankruptcy Code and Rules, TMA and AIRA Codes of Ethics, Licensure rules (e.g., for CPAs), state law governing trustee roles, etc.

Professional Development Track: The Dos and Don’ts of Effective Oral Advocacy

Featuring the Judges of the 18th Annual Rocky Mountain Bankruptcy Conference

This panel will focus on the ethics of limiting the scope of employment as well as attorney's fees in Chapter 7 and how they get paid.

Professional Development Track - "I'm Shocked-Shocked!-to Find that Unethical Conduct Is Going On in Here!": A Tale of Ethics in Bankruptcy Our play will address the ethical pitfalls faced by the attorneys in the chapter 11 bankruptcy of Casablanca Snow Globes, Inc., a once-thriving manufacturer of world-class snow globes that has fallen on hard times due to cheap foreign competition, changes in consumer taste and unfair TSA regulations. Watch debtor's counsel struggle with whether she represents the debtor or its owner, as well as possible secret connections with the evil empire owned by Boris Badenough. Thrill to Boris's lawyer's problems with his various clients in this case, who are not always aligned (or sane). Our panel of experts will provide commentary on these critical issues, such as (a) who is your client; (b) what to do when clients don't tell the truth; (c) how to fulfill your obligations to be candid with the court; (d) how to avoid sharp lawyering practices; (e) best billing/fee application practices; and (f) conflicts of interest.

In today's society, many people use social networking (Facebook, LinkedIn, Twitter) as a communication tool on a constant basis. Some of these social networking tools can test ethical boundaries for all legal professionals. Social networking presents unique and sometimes complex ethical issues for bankruptcy professionals. For example, what happens if you're a chapter 7 trustee and you receive a friend request from one of your debtors or a judge? Can a chapter 7 trustee use Facebook as an investigation tool? Can or should a bankruptcy professional tweet about a chapter 11 case he or she is involved with? Earn ethics credits while you learn and discuss social networking issues in bankruptcy.