2024

In this candid and dynamic discussion, experienced bankruptcy judges will address the importance of adhering to the Bankruptcy Code as the foundation for successful practice and decision-making. As practitioners become increasingly reliant on precedent, creative arguments and procedural shortcuts, this session will serve as a reminder of the Code’s fundamental role in guiding bankruptcy proceedings. This discussion is designed for attorneys, trustees, and other restructuring professionals who seek to enhance their understanding of the Bankruptcy Code and its application in everyday practice. Expect lively discussion, practical advice, and a renewed appreciation for the importance of the Code in bankruptcy law.

Every now and then, a reviewing court issues a decision that seems contrary to the statutory language or underlying policy of the Bankruptcy Code. Perhaps it was a decision based on bad or unusual facts; perhaps it was a decision that focused on the text more than the policy of the Code. Regardless, practitioners and bankruptcy judges must work with these decisions in cases before them. This panel will talk about the appellate decision-making process.

Insurance carriers are now permitted to participate in the plan-confirmation process, even when a plan is “insurance neutral.” How do recent Supreme Court rulings change the confirmation process, or will the Bankruptcy Code permit debtors to alter the rights of insurance carriers over their objection of insurance and bind them to the terms of the plan? Finally, there are no circuit splits, no nonconsensual third-party releases under a plan — or is the issue still unsettled when the plan “pays claims in full,” and what does it mean to “consent” to a release? Opt-in, opt-out, negative notice: What works? This panel will provide an overview of the U.S. Supreme Court’s decisions in Truck Insurance Exchange v. Kaiser Gypsum Co. Inc., et al. and Harrington v. Purdue Pharma L.P., et al. and how they impact a debtor’s ability to confirm a plan. The panelists will discuss how debtors and insurance carriers will need to work to address their competing needs. The panelists also will discuss how debtors will address mass-tort bankruptcies without the third-party-release tool or workarounds, and will look to the case law and confirmed plans in circuits where nonconsensual releases are not permitted.

Hosted by Financial Advisors and Investment Banking & Unsecured Trade Creditors Committees This panel will discuss the strategic use of valuation evidence throughout the life of a chapter 11 case, from financing and sale process to confirmation and fraudulent conveyance/other litigation.

Hosted by Commercial Fraud & Ethics and Professional Compensation Committees This session will provide an overview of recent high-profile cases, including those of FTX, Kenneth Chesebro, Rudy Giuliani and Judge David R. Jones, and discuss the ethical issues raised, including the limits of advocacy, responsibility of the profession, duty of candor and truthfulness, prohibition on assisting in criminal activity, and the duty to report professional misconduct.

This panel will explore how good faith and bad faith are used in the Code and when it matters, how “developed” these notions are in the case law, and balancing the debtor’s right to dismiss when facing a motion to convert for cause under § 1307 for bad faith. The panelists will consider Marrama v. Citizens Bank of Massachusetts and Law v. Siegel, the effect on property of the estate in a converted case under § 348 when converted in “in bad faith,” when a plan is not considered proposed in good faith under § 325, § 707(b)(3) dismissals when there is no presumption of abuse, avoiding a dismissal under § 521 related to document production, and filing a “repeat” debtor in a 7 when a 13 was filed less than six years prior under the “70% claims paid/plan proposed in good faith” exception.

This panel will provide an in-depth examination of the claims-allowance process in bankruptcy, focusing on the latest developments and contentious issues that are shaping this critical area of practice. As bankruptcy courts continue to address complex claims-related disputes, understanding the nuances of standing, timing and calculations has become more important than ever for practitioners.

Everyone knows that estate professionals must be disinterested and able to represent the debtor free of conflicts. But what happens when the professional represents a related nondebtor party — for example, the private-equity sponsor or the sole member/shareholder? What if the professional has relationships with others in the case? The professional may bring significant experience and value to the table, some being derived from its prior representation of the debtor, creditors or others involved in the case. When do these considerations outweigh the interests of the estate and the integrity of the system? Is disclosure of the potential conflicts and relationships enough? This panel will explore these and related issues to help guide professionals and judges alike.

Hosted by Bankruptcy Litigation & Real Estate Committees Fraud is an ever-present concern in bankruptcy cases, manifesting in various forms from False Claims Act violations to Ponzi schemes. This panel will provide practical tips and strategies for identifying, addressing and litigating fraud in the bankruptcy context.

Hosted by International & Asset Sales Committees Several U.S. bankruptcy courts recently have recognized CCAA reverse vesting orders in chapter 15 cases, but not without some reservations as to their breadth and effect. This panel will discuss the use of reverse vesting orders to effect asset sales in cross-border transactions.