The days are getting longer, flowers and trees are blooming, and temperatures are rising. Spring is in the air, which also means it’s Annual Spring Meeting time in Washington, D.C. We were excited to see many of you at the conference April 18-20. Below is a summary of what our committee has been up to and the great things we have planned.
In February, the committee hosted two webinars. The first, on Feb. 14, was the second in the planned webinar series “Directors Duties Across Borders in the Insolvency Zone.” The focus of this webinar was on the Americas. Debra Grassgreen (Pachulski Stang Ziehl & Jones) moderated the discussion. The panelists were The Hon.
The English Supreme Court has dismissed an equitable personal claim in knowing receipt brought by Saad Investments Co. Ltd.
Courts administering India’s insolvency and restructuring law, the Insolvency and Bankruptcy Code 2016 (IBC), have been grappling with the challenges posed by corporate group insolvencies.
Recently, in In re Pack Liquidating LLC,[1] Hon. Craig T. Goldblatt of the U.S. Bankruptcy Court for the District of Delaware granted derivative standing to the official committee of unsecured creditors to pursue breach-of-fiduciary-duty claims against the company’s founders on behalf of the debtors’ estates.
Spring is here, and the Unsecured Trade Creditors Committee looks back on an eventful 2023 and a busy start to 2024 (for both the committee and the restructuring space as a whole).
The Third Circuit Court of Appeals’ recent ruling in the FTX bankruptcy case severely limits a bankruptcy court’s discretion to deny the appointment of an examiner in a bankruptcy case.[1] In FTX, the U.S. Trustee filed a motion to appoint an examiner. The bankruptcy court denied the motion.
Our committee’s leadership has been hard at work, organizing educational programming and social events to keep our members engaged. Here are some highlights of recent events.
The Bankruptcy Code, in its current form, anticipates the inclusion of intellectual property (IP) within the property of an estate.
How do you show that a legal entity acted with intent to defraud its creditors for purposes of an avoidance action asserted under Bankruptcy Code § 548(a)(1)(A)? After all, legal entities themselves cannot form an intent; they can only act through their officers, directors or agents.
This panel will explore the basics of blockchain — which is quickly becoming a major sector of the insolvency world — and its inevitable impact on bankruptcy cases.
The steep rise in student loan debt is one of the most pressing issues our country faces as it strives to create a more just and equitable society. Getting a college degree has become steadily more expensive, and graduates are often left with overwhelming debt burdens that sometimes take decades to repay. Coupled with the nondischargeability of student debt under the Bankruptcy Code, the “student debt problem” has become one of the most pressing issues of our time.
Recent large bankruptcies like NRA, Boy Scouts of America, Roman Catholic Archdiocese, Purdue Pharma and J&J have invigorated debate over the longstanding issues of venue and bad faith in bankruptcy. This panel will explore matters surrounding venue and bad-faith filings, related ethics considerations, and the newest wave of reform initiatives.
Based on his distinguished 45-year career dealing with stress and human health, Dr. Bruce Rabin will present a timely program identifying the mental and physical effects of stress, and will introduce skills that can be used to minimize those effects. He will explore the concepts of isolation, changes in behavior and health due to the pandemic, and how negotiation strategies for in-person or remote mediations, client relations and decision-making are affected by stress.
This panel will focus on covering lenders’ perspectives on chapter 11 strategy and options, such as note sales, out-of-court restructurings or formal bankruptcy sales, and will discuss lenders’ and borrowers’ perspectives on regulatory challenges and procedural issues, such as anti-trust and environmental concerns, that are sometimes raised during a bankruptcy case, as well as issues with § 363 sales, DIP milestones and restructuring support agreements.
Three cryptocurrency industry experts — a lawyer, a technical consultant and an investment banker — will cover the complexity of valuing cryptocurrency and provide their expert views on the cryptomarket’s volatility, both currently and going forward. The presenters will also offer their insights into the adoption of cryptocurrency in the U.S. and globally, and will address regulatory changes in banking as they relate to cryptocurrencies.
Marijuana-related businesses are being denied access to bankruptcy relief in all but a tiny handful of cases. This webinar will discuss prospects for success in bankruptcy court, available alternative methods of affording relief to troubled cannabis businesses, and possibilities for changes in the regulatory climate.
This webinar will discuss how new Bankruptcy Student Loan Management Programs are helping debtors solve their student loan issues. The webinar will cover the issues affecting debtors and their student loans as well as the solutions and tools the courts are implementing.
The webinar panel, comprised of bankruptcy lawyers, a panel bankruptcy trustee and a financial advisor, will delve into what occurs when an individual debtor files bankruptcy and fails to properly disclose their assets. The discussion will include methods of investigating and discovering hidden assets and the means by which a trustee can successfully recover the assets for the bankruptcy estate. The panel will also address defenses that a debtor may raise, including exemptions, tenants by the entirety, or business assets transferred to trusts.
Panelists will discuss ethical issues relating to due diligence and debtor and creditor actions online as well as practice pointers for engaging in social media.