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Hosted by the Consumer Bankruptcy and Legislation Committees A fresh start is now becoming less attainable for many debtors because the traditional "all-up-front" attorney fee approach discourages filing for chapter 7. Some attorneys are solving this problem by splitting pre-petition and post-petition services into separate agreements to allow post-petition payments for post-petition work. The panel will discuss the practical need for this type of fee arrangement, the nuts and bolts of this payment arrangement, the pros and cons of such a system, where it is and where it is not allowed under existing law, a discussion of the current case law concerning such a system, and various policy considerations under review by ABI's Consumer Bankruptcy Commission.

Hosted by the Asset Sales and the Financial Advisors & Investment Banking Committees This panel will focus their discussion on the need for disinterested independent directors to employ their own counsel/FAs/IBs in connection with the sale of assets. The main topic will be based on the facts in the Toys “R” Us case, where six groups of independent managers and directors have their own separate counsel and advisors. The panelists believe that similar facts exist in other recent cases, and more cases will reflect this in the future. The panel will discuss such topics as the need for this type of representation, the costs associated and how such costs are accounted for in the case, and what other legal and ethical implications all of this can have on the sale of a debtor’s assets.

Join leading bankruptcy scholars Professor Ronald J. Mann (Columbia), Professor Margaret Howard (Washington & Lee) and Professor Ralph Brubaker (University of Illinois) as they discuss Professor Mann's recent book, Bankruptcy and the U.S. Supreme Court. The presentation will not only focus on the most important bankruptcy decisions by the Supreme Court but also on the decision-making process that the Justices undertake to reach their conclusions. This session should not be missed!

Hosted by the Bankruptcy Litigation and the Commercial & Regulatory Law Committees Breaking stories on blockchain or cryptocurrency seem to hit the news daily. Litigating issues involving this new area presents challenges, as there is no central issuing or regulatory authority. There are no official clearinghouses or oversight by financial institutions, and users act autonomously in transactions. This panel will discuss the various measures of protection for cryptocurrency players in the financial industry and how to litigate the complex issues.

This panel will discuss recent ethics opinions and modern issues facing consumer practitioners.

This panel of experienced professionals will discuss and analyze what it takes to maximize results for unsecured creditors in today’s chapter 11 cases.

Limited liability companies did not exist when the Bankruptcy Code was enacted. Case law related to LLCs and bankruptcy is conflicting and sometimes confusing. This panel will discuss the unique issues related to LLCs and bankruptcy law.

The way that we practice law is changing, as the legal industry is going through a dramatic digital transformation. Cybercriminals are increasingly seeing law firms as targets for cybercrime, and clients are putting pressure on professionals to create and maintain appropriate security programs to keep their data secure. This panel of experts will discuss the current state of cybersecurity, as well as best practices for how to protect yourself from and respond to a cybersecurity attack. We will also explore how blockchain technology may be the tool of the future to keep data secure.

This year the conference opens with ABI Talks, one of our highest-rated programs ever! Based on the incredibly popular “TED Talks” format, ABI Talks address diverse and interesting bankruptcy topics. If you consider yourself a bankruptcy guru, or just want to be one, you will not want to miss this featured session! DID THAT REALLY HAPPEN IN COURT TODAY? Judge Carey will take a reminiscent trip through a typical day in court by recounting the successful presentations and skill sets employed by lawyers that work really well for him, as well as the ones that don’t — all in an entertaining and informative way. #METOO: WHERE I’VE BEEN, AND WHERE BANKRUPTCY PROFESSIONALS ARE GOING Cathy Hershcopf graduated from law school in 1985 and entered into “big law” restructuring practice immediately — a world where women were rarely found. Her personal journey is one that will resonate, especially in today’s environment. Her impactful talk will also present, in an interactive format, several challenging fact scenarios from the legal workplace for the audience to consider. SOVEREIGN CITIZENS MOVEMENT (BEST MID-ATLANTIC BANKRUPTCY WORKSHOP PROGRAM) Tom Horan will introduce everyone to the beliefs of sovereign citizens — a loose collection of individuals who contend that the U.S. government is illegitimate and who seek to transform American society into one where government plays a minimal role. Find out what happens when their belief system collides with the Bankruptcy Code and the courts. A ROSE IS A ROSE IS A ROSE — OR IS IT? Is a deposit in a bank a transfer of the debtor’s assets? Ron Peterson will discuss this and more, as well as review appellate court decisions of the Fourth, Sixth, Seventh and Ninth Circuits. THE JAY ALIX/MCKINSEY DISPUTE: "SOUR GRAPES" TEMPEST IN A TEAPOT, OR THE NEW NORMAL? Tom Salerno will explore the dynamics of the extraordinary pending litigation involving retention disclosures between McKinsey & Co. and Jay Alix, and will discuss the potentially far-reaching legal, political and practical ramifications of that dispute for the restructuring community on all sides of the industry. Is this a tipping point for the bankruptcy world that will create a new industry order, or just a “sour grapes,” spurned advisor’s tempest in a teapot?

The Tax Cuts and Jobs Act significantly changed many aspects of business taxation, especially for distressed companies. The way net operating losses work has fundamentally changed. The ability to deduct interest expense is now significantly limited and, as a result, distressed companies may have very different tax profiles than they previously have had. Changes to several rules impact the decision on whether to structure a reorganization as a tax-free transaction or a “Bruno’s” taxable transaction. The international tax regime has been fundamentally altered, both with respect to normal operations and with respect to long-standing issues regarding the appropriate scope of pledges and guarantees that can be provided in connection with DIP financing and cash collateral packages. All of these rules remain subject to an active and very much ongoing regulatory process that places a significant degree of uncertainty around tax outcomes. The panel will highlight and contextualize these key issues so that restructuring specialists can be aware of their potential impact.