2018

Blockchain technology has the tech and business sectors abuzz. Legislators, regulators and the judiciary struggle to keep up with the breakneck pace of development. Much of the initial focus has been on Bitcoin, the virtual currency that was the first major blockchain-based application, but interest and activity by both industry and policymakers is quickly shifting toward broader uses of blockchains. A blockchain, also sometimes called a distributed ledger, is essentially an online database that, instead of being controlled by a central authority, is created, managed and used in a decentralized way by its users on a peer-to-peer network. The shared, transparent and unalterable nature of a blockchain creates the perfect environment for the transfer of assets (physical, informational or financial). A blockchain network eliminates the need for a central record system or intermediary to establish ownership and trust, allowing individuals with no previous relationship to exchange such assets in a secure manner. This technology is still in its infancy, but it is fast giving rise to “initial coin offerings” as a new form of raising capital, massive (and wildly speculative) investment in various virtual currencies, and other transformative technologies. Although blockchains’ possibilities are exciting, the uncertainty and instability surrounding many blockchain applications, certainly including cryptocurrencies, is likely to result in significant distressed scenarios requiring specialized knowledge of both this extraordinary technology and insolvency law.

This panel will cover the effects of the recent Supreme Court decision under § 546(e) of the Bankruptcy Code, valuation of avoidance actions, pre-bankruptcy planning, creditor intervention, and conflicts preventing individual debtors from pursuing claims.

This panel will discuss the process of developing and implementing post-confirmation trusts, including the transfer of litigation claims to a trust, claimant direct claims vs. company claims, trustee with discretion vs. board with veto power, voting by beneficiaries, reporting, distribution issues, funding, post-confirmation jurisdiction and involvement of the bankruptcy court, trustee liability, quasi-judicial immunity and indemnification, and interim and final distributions and tax considerations.

This panel will cover issues relating to the discharge of tax claims, objecting to tax claims and the utility of § 505, the consequences of not having tax returns on file as of the petition date, and other tax-related issues that impact debtors.

This panel will discuss alternatives to formal bankruptcy, including assignments for the benefit of creditors, abstention of a bankruptcy case under § 305, receiverships, state law dissolution and out-of-court workouts.

This panel will discuss (a) interactions with clients who have mental health problems, lying clients and unreasonable clients; and (b) spousal conflicts, joint individual and business case conflicts, conflicts that arise when changing firms, and multiple-owner business case conflicts.

This session will provide an overview of the requirements to file an involuntary bankruptcy case and the advantages and pitfalls that arise from these filings, including petitioner liabilities.

This panel will discuss automatic stay and discharge injunction violations arising from withholding property to collect, statutes of limitations, and exceptions to discharge after Husky.

Three avenues for appellate courts to dismiss bankruptcy appeals are sale, plan and constitutional mootness. This panel will discuss the strengths and limitations of these three approaches, which appellate courts are increasingly gravitating toward and departing from, and steps and arguments parties can make to improve their chances of success in obtaining (or avoiding) dismissal of a bankruptcy appeal as moot.