2020

This session will discuss the impact of extraordinary and unforeseen changes in the economy; feasibility in a COVID-19 world; the split between § 1141 analysis and traditional opt-in/opt-out provisions for third-party releases; the best-interest test in connection with third-party releases; the fate of Till and cramdown; valuation issues such as what happens when projections are totally wrong; exclusivity termination; attempts to put assets beyond the reach of lenders; plan voting/§ 1129(a)(10) and artificial impairment; and estimation for voting purposes.

Should § 363 sales occur early in a case? Should the Federal Foreclosure Act be invoked? The panelists will discuss these issues, as well as sales in confirmation; circumstances under which a court may preclude or limit credit bidding under § 363(k); whether to push for dismissal, conversion, or a liquidating trust; mootness and appeals; Rule 9019 settlements combined with sales to make them harder to appeal; whether Fulton will further increase the power of secured creditors; and extraordinary changes in the economy (delay or convert?).

This panel will focus on the removal and consolidation of tort claims, including those against nondebtors (e.g., Imerys); the aggressive estimation of tort claims for voting purposes (e.g., PG&E and the one-dollar estimation effort); third-party releases (e.g., the effort we are likely to see in BSA to get releases for local councils); channeling injunctions outside of the asbestos context (being used increasingly, but will the bench eventually push back?); the impact of criminal proceedings on a mass tort debtor’s ability to reorganize (e.g., PG&E and some of the pharma cases); the need for multiple committees (e.g., creditors + victims in BSA; the UCC and TCC in PG&E; and the failed effort to appoint a public entities committee in cases); notice and due process issues (e.g., notice to fire victims in PG&E); proposed trust structures; class actions in chapter 11; and Garlock.

Listen in on 2 Debates argued by bankruptcy judges and experts in the industry on the following topics: Debate 1: Resolved - Trustees can claw back transfers by and between foreign transferees. Debate 2: Resolved that the current Code provisions regarding Committees preclude true parties in interest and largest constituents from participating

Is the committee’s role shrinking? This session will cover statutory vs. ad hoc committees; challenging exclusivity; judicial reactions to the use of ad hoc committees; whether all committees have a fiduciary duty, and if so, to whom; how far committees can go in representing different unsecured creditor groups (divergent interests, or multiple committees?); ad hoc lender groups; whether gifting has survived; and the risk of extinction by examining Constellation and the problem of sudden death to committee by conversion on demand.

This session will highlight several of the Rules of Professional Conduct, including RPC 1.5 (Fees); the Alix/McKinsey litigation; RPC 3.3 (Candor to Tribunal); RPC 4.1 (Truthfulness to Others); the U.S. Trustee guidelines concerning retainers; RPC 7.1 (Communications Concerning a Lawyer’s Services); overbilling, RPC 8.4 (Misconduct); fee examiners, RPC 1.3 (Diligence); disclosures, Bankruptcy Rule 2014; RPC 1.7 (Conflict of Interest); and RPC 7.3 (Solicitation of Clients).

A panel of experts in agriculture bankruptcy insolvency matters will discuss the unique issues and legal strategies facing professionals in these cases, such as problems facing family operations, the nature and benefits of chapter 12 proceedings, plan strategies in chapter 11 and 12 cases, and traps for the unwary in dealing with the different constituencies in a farm case. As these cases become more prevalent, well-prepared practitioners will need a working knowledge of the issues confronting the agricultural sector. This panel will give you expert insights into the tools you need to manage these types of cases.

Come join our experienced panelists as they share practical applications of mindfulness that you can use every day at work and home. Areas include being less reactive in challenging situations, listening more effectively and gathering more useful data, more skillfully entertaining uncertainty, and feeling less stressed in general. You'll learn basic mindfulness and relaxation exercises and tips for incorporating them into your day.

Do the safe harbor provisions of 11 U.S.C. § 546(e) also provide shelter to transferees from state law fraudulent transfer actions in nonbankruptcy courts? Does the doctrine of pre-emption apply to impact litigation outside of bankruptcy court? This panel will review § 546(e) after the U.S. Supreme Court’s decision in Merit Management Corp. LP v. FTI Consulting Inc. After the Merit decision, the Supreme Court sent back the case of In re Tribune Co., fraudulent conveyance litigation that was also pending before the Supreme Court, to the Second Circuit Court of Appeals. What did the appeals court do in Tribune II, and what impact does the court’s decision have on fraudulent transfer litigation by private litigants under nonbankruptcy law?

IWIRC sponsored this October 14, 2020, session as part of the Insolvency 2020 Summit. The expert panel discusses trustees' powers in various foreign courts and the challenges they face. The panlists also provide tips for hiring foreign counsel and recovering offshore assets.