No Online CLE Available

Private credit has rapidly grown into a multi-trillion-dollar market, reshaping the landscape of corporate finance and restructuring. With global private credit expected to rise from nearly US$2 trillion in 2023 to US$3 trillion by 2028, the influence of private credit funds as key creditors is undeniable. But questions remain as to how these funds will behave in the next major downturn, given their limited experience in workouts and restructuring. This panel will explore the evolving dynamics among private credit funds, banks, private equity and ratings agencies, and consider whether the growth of “private” markets reflects innovation or regulatory arbitrage. Attendees will gain practical insights into what restructuring professionals need to know as private credit cements its role at the center of future distressed situations.

This panel will explore how tariffs, geopolitical tensions and macroeconomic pressures are reshaping the restructuring landscape. The panelists will examine the impact of these forces on such sectors as real estate, energy and retail, highlighting emerging distressed assets and strategies for navigating complex cross-border and domestic restructuring challenges. Attendees will gain practical insights into mitigating risk and identifying opportunities in an increasingly volatile environment.

In recent years, the life sciences sector has faced mounting pressures from capital market volatility, regulatory scrutiny and evolving patient data standards. With a noticeable uptick in financial distress and a decline in successful bankruptcy resolutions, stakeholders are grappling with existential questions about sustainability, compliance, and trust. Bringing together finance, legal, operational and regulatory perspectives, this session will provide attendees with practical insights into how companies can manage risk, preserve value and protect trust – even under duress.

This panel will examine key regulatory developments affecting the health care sector, including recent policy changes, enforcement trends, compliance challenges and stakeholder decision-making, as well as how shifting regulations are influencing restructuring strategies and creditor recoveries.

This keynote will discuss how a health care futures market could help stabilize costs for payers and providers, and will explore various financial tools and incentives that could help make health care more predictable and investable. This in-depth talk also will examine the convergence of biology and technology into investable frontiers in medicine — and steps that practitioners can take now to preserve innovation while helping to fix broken balance sheets.

The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) was implemented on Oct. 17, 2005. This panel of experts will provide their perspectives on the impacts of the law on consumer and business bankruptcies in the 20 years since the law went into effect. John Penn of Perkins Coie (Dallas), who served as ABI's president when BAPCPA became law, will be joined by two former bankruptcy judges who were on the bench at the time of the law's implementation to discuss the developments brought about by BAPCPA, and to share their views on potential bankruptcy law reforms moving forward.

This session will explore key ethical issues facing bankruptcy practitioners and judges, including professional responsibility, conflicts of interest, confidentiality, and duties to clients, creditors and the court. The panelists will examine recent case law, evolving ethical standards, and practical guidance for navigating complex situations in bankruptcy practice.

This panel will provide an update on today’s retail restructuring landscape by discussing hot topics in retail bankruptcy cases, administrative solvency challenges, the “billing vs. accrual” approach in leases (Avianca Holdings), nondebtor releases and injunctions in sale orders, and chapter 15 and sales of U.S. assets “free and clear” (Goli). How far have we come over the years? What out-of-court solutions might work best?

CLE credit is not available for this session.This panel will review various macro issues that will likely impact the restructuring community in 2026, including trends associated with the private credit markets and the health care, retail and real estate sectors.

Resolved: The doctrine of in pari delicto should bar a trustee from recovering solely for the benefit of creditors.Resolved: The above transaction is an avoidable fraudulent conveyance, and the original lenders may recover more than via a general unsecured claim.A debtor engaged in an LME transaction in which the debtor received substantial liquidity by subordinating a debt secured by a first lien on the debtor’s principal assets to a new, more senior first lien. The debtor received desperately needed liquidity, but the subordination substantially impaired the recoveries received by the original first-lien lenders. A subsequent bankruptcy was filed within 18 months. Unsecured creditor recoveries will be 2%. The court determined that the subordination agreement violated the terms of the original loan agreements.