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What are bankruptcy crimes, what are the duties of the various parties in a case to investigate and report them, and what are the protections for those who do? The panelists will discuss actual-intent fraudulent transfers and the crime/fraud exception; recent cases suggest that a “fraud” that may trigger the crime/fraud exception to attorney/client privilege and that the work-product doctrine may not be limited to crimes and serious frauds, but rather may include transactions exhibiting only some “badges of fraud,” such as fraudulent transfers (Fragin, Husky International).

This panel will visit controlling the time and expense of bankruptcy litigation; how bankruptcy’s Code, Rules and process affect the relationship between the parties’ incentives and duties to their constituencies; the continuing viability of unsecured creditors’ committees; claims trading and the increased role of hedge funds in chapter 11 cases; and other topics covered in the Final Report of the ABI Commission to Study the Reform of Chapter 11.

This panel will discuss current trends in energy, from gas production to the coal market to alternative forms. What will the industry look like 10 years from now? Do we need coal? Updates of current markets, as well as recent bankruptcy cases and issues, will be addressed, including the rejection of gathering agreements and the upward trend in requests for equity committees in commodity cases (Breitburn, Penn Virginia, Energy XXI, Horsehead, SandRidge, C&J, Peabody).

This session will focus on the current state of the doctrine and recent criticisms, especially from the Third Circuit (Philadelphia Newspapers, SemCrude, One2One Communications), and its applications (City of Detroit (invoking the doctrine to reject the attempted restoration of pension benefits in the city’s bankruptcy)).

This session will discuss (1) selecting a trust, LLC, plan administrator or other vehicle; (2) ensuring that affirmative claims are preserved post-confirmation; (c) establishing a value/tax basis in litigation claims and other assets transferred to a trust or LLC; (d) key plan provisions such as preserving 2004 discovery rights, creditor oversight, continuing court oversight, required reporting and the retention/transfer of the attorney/client privilege; (e) the trading of interests; (f) provisions for closing the case; and (g) structured dismissals following asset sales as an alternative to a liquidating plan (Jevic). Is it preferable to liquidate outside of chapter 11?

This panel will present a fraudulent transfer update and discussion regarding the split over § 546(e) safe harbors (Physiotherapy, Tribune, Madoff, Meritt Management), 10-year reach-back periods (Kipnis), the reinstatement of unsecured creditors’ intentional fraudulent conveyance claims and the ruling that the intent of the CEO can be imputed to the company (Lyondell), the finding that substantive consolidation does not augment the trustee’s § 544(b) avoiding powers by allowing the trustee to rely on predicate creditors from another estate (Petters), and the ruling that access to a credit line rebuts unreasonably small capital claims (SemCrude). The session will also feature an update on the Trust Indenture Act, including discussion of the recent Second Circuit decision in Chesapeake Energy and its implications regarding the finality of bankruptcy court orders, and an update on the litigation of feasibility issues (Paragon).

This panel will discuss the domestic reach of the foreign stay (Sanjel) and recognition of judgments/rulings in cross-border cases, including offshore bankruptcies, as well as non-U.S. companies filing for chapter 11 and the consequences thereof (Ocean Fisheries, Hanjin and Abengoa)

This panel will focus on issues that can arise during an LLC bankruptcy, such as what happens when parties contract out of fiduciary duties and the effect that bankruptcy has on key provisions in an LLC operating agreement, including management and ownership rights and remedies, as well as what happens when a bankruptcy proceeding is initiated against the LLC or one or more of its members. The panel will also discuss Intervention Energy and Lake Michigan, in which the bankruptcy courts refused to enforce LLC agreement provisions requiring the respective LLCs to obtain the unanimous consent of their members in order to seek bankruptcy relief.

Hosted by the Business Reorganization and Unsecured Trade Creditors Committees This session will focus on recent case law developments in the area of executory contracts. The panelists will discuss issues concerning gathering agreements and the Sabine Oil decision, collective bargaining agreements, telecommunication agreements and more.

Join this leading panel of experts as they discuss the most recent important consumer bankruptcy decisions.