2014

This panel will explore recent developments with respect to the absolute priority rule using a fact pattern/role-playing approach focused on the “Old San Juan”, a mythical family-owned hotel in Puerto Rico.

Years after the creation of the concept of domestic-support obligations, the panel will discuss how bankruptcy courts have interpreted this concept and how “alimony, maintenance and support” is a key element in BAPCPA cases. The presentation will also highlight the complex relationship between bankruptcy and domestic-relations law, and whether bankruptcy courts are bound by state courts’ determinations when issues of claim classification are raised. This panel will also discuss the criteria for the approval of applications for employment and reimbursement of fees, the role of the different trustees in those processes, the independent role of the bankruptcy judges and the consequences of not filing a timely application. Consideration will be given to the perspectives of debtor’s attorneys, special counsel, other professionals and secured creditors’ attorneys.

In addition to discussing the latest developments and cases under U.S. chapter 15, this panel will also focus on recent decisions dealing with the issues of the “center of main interest” (Fairfield Sentry), individual chapter 15 cases (Kemsley), intellectual property (think3, Inc.) and asset sales (Elpida Memory).

This panel will discuss the source and purpose of the National Chapter 13 Plan Form, explain the concerns surrounding the U.S. Supreme Court case of Espinosa, discuss the Bankruptcy Rules that will accompany the National Form, discuss and explain the National Form’s parts and the provisions contained therein, and cover what the practitioner must consider when the National Form becomes mandatory. The panel will also discuss relevant issues related to properly preparing and filing well-supported proofs of claims, including issues related to transferred and purchased claims. Finally, the panel will address the fairly new Rule 3002.1, which is related to claims secured by a security interest in the debtor's principal residence, including the details and responsibilities that accompany all of that rule's subparts.

Cross-border financings almost always lie at the heart of cross-border insolvency cases, and holding an enforceable lien usually spells the difference between recovery and loss in such cases. This panel will focus on creating, perfecting and enforcing liens on assets held by Caribbean borrowers, as well as on the 2010 amendments to Article 9 of the U.S. Uniform Commercial Code that became effective in July. Topics will include UNCITRAL’s legislative guide on secured transactions, the Organization of American States’ Model Inter-American Law on Secured Transactions, competing forums for resolving disputes over liens on Caribbean assets, Article 9’s choice-of-law rules, and financing concepts peculiar to common law countries in the Caribbean (e.g., the distinction between fixed and floating charges and crystallization).

In 2013, ABI issued its Final Report of the ABI National Ethics Task Force, and the Executive Office for U.S. Trustees set forth new guidelines for reviewing applications for compensation and reimbursement of expenses filed under § 330 of the Bankruptcy Code for attorneys in larger chapter 11 cases. In addition, the Cayman Islands and the Bahamas have experienced developments with respect to retention and compensation of attorneys. This panel will discuss the ethical implications of these developments.