2020

Members of ABI's Commercial Fraud Committee will discuss hot topics related to COVID-19, particularly fraudulent schemes likely expected due to the pandemic and schemes that may be revealed as a result of the pandemic's economic repercussions. The panelists will also address the coronavirus relief bill and resulting potential fraudulent schemes, as well as the international impact of the pandemic.

Join us for a discussion on the key features of the Paycheck Protection Program (PPP) and the current legal landscape regarding the eligibility of companies in bankruptcy to receive PPP Loans, including an overview of SBA guidance and recent court decisions.

The novel coronavirus has certainly induced many systemic changes around the world, and the bankruptcy and restructuring industry is no exception. What once worked in a pre-COVID-19 world might not work anymore, so parties must adapt quickly, often with no precedence upon which to rely. This panel will discuss the idiosyncrasies and novel ways bankruptcy practice is operating, restructuring and adapting to a “new normal,” and how constituencies on all sides of the table are approaching its unique aspects.

This session will focus on professional retention issues in chapter 11 cases, starting with a brief primer on applicable Bankruptcy Code sections. The panelists will then delve into recent case law on such hot topics as disclosures, conflicts and retroactive relief.

This panel will provide an analysis of the current levels of financial distress across the hospital, skilled-nursing and home-health sectors using various measurements, including distributions by state.

This panel will discuss recent bankruptcy court decisions addressing the Delaware Court of Chancery’s decision in CML V LLC v. Bax, and how these decisions impact a creditors’ committee’s or any other creditor’s ability to bring derivative claims against third parties. The panelists will also provide examples of how committees and judges are solving this issue through financing orders and other methods.

The panel will briefly address the historical use of cannabis in America for medicinal purposes and the subsequent criminalization of cannabis, which was racially motivated. The panel will then discuss the challenges faced by corporate entities that seek to obtain bankruptcy protection when at least a portion of their income is derived from the sale or cultivation of cannabis, the lease of space to cannabis companies, or the sale or manufacture of products used in connection with a cannabis business. The panel also will discuss the nonbankruptcy options for these entities, as well as the financial hurdles faced by such entities. Finally, a representative from a community bank in Maryland will discuss the services that her bank is able to provide to cannabis dispensaries.

Based on the TED Talks format, this year’s ABI Talks will focus on three discrete issues: (1) the coronavirus, namely the reaction of the market, what industries have been/are going to be hurt the most, and the potential short-term and long-term financial implications of the outbreak, including bringing otherwise-healthy industries into the bankruptcy discussion (such as airlines, oil companies, cruise lines, etc.); (2) the changing public perceptions of bankruptcy, looking at the way history has moved from imprisoning debtors to bankruptcy being such a commonly accepted tool to address debts that even the President has used it; and (3) social issues in bankruptcy, such as the #MeToo movement and the Catholic priest and Boy Scouts scandals.

More than 14 years after Congress amended the Bankruptcy Code to provide special rules and procedures for “small business debtors,” it enacted the Small Business Reorganization Act of 2019. In the wake of the economic damage caused by COVID-19 and the necessary governmental response, Congress then amended the SBRA in the CARES Act to raise the debt limit to $7.5 million (subject to a possible one-year sunset). How will the SBRA change your practice? With a $7.5 million debt limit, standing trustees, a streamlined reorganization process, the elimination of the absolute priority rule and § 1129(a)(10), and the possible modification of certain mortgages, the SBRA presents new opportunities for small business debtors and their stakeholders. This panel will take a look at cases under the new law in its early days, as well as how it impacts eligible individual debtors (and their creditors).

As Bankruptcy Courts hold hearings across a variety of remote platforms, how can attorneys and other bankruptcy professionals ensure they are most effectively representing their clients? This expert panel will discuss best practices for appearing remotely, offering tips on preparing witnesses for testimony, presenting an effective “virtual” courtroom presence, and maintaining proper courtroom etiquette in the new normal, and will also address several ethics considerations in our new "Virtual" reality. These include: Coaching the witness (or not!) Maintaining privilege/confidentiality when dealing with co-counsel and clients over a remote platform in real time