Seminar  Program

Bankruptcy & Reorganizations 2018: Current Developments


Select a Location:

Staying abreast of the current developments in restructuring, bankruptcy and reorganizations is essential, and this advanced conference assembles a remarkable faculty of bankruptcy judges and leading practitioners who will provide you with a thorough review and analysis of hot topics and recent decisions in diverse industries, including energy. They will also cover the Supreme Court’s decisions on jurisdiction and Jevic. The faculty will review recent cases and trends that affect your practice on behalf of debtors, vendors, bondholders, lenders, diverse groups of creditors, hedge funds, committees, labor, and parties to executory contracts, structured finance deals, sales and other transactions and there will be special focus on valuation, gifting, and structured dismissals. Equip yourself with strategies, litigation tactics, and mediation and negotiation skills you can use daily.

This program is designed for a wide range of restructuring, bankruptcy, reorganization and other transactional practitioners, litigators, in-house counsel and others who are involved in restructurings and insolvency cases. A basic knowledge of defaults, the Bankruptcy Code, rules and procedures is necessary. This program will help transactional, litigation, and IP lawyers prepare for and deal with defaults, restructurings, and sales of distressed assets, and experienced lawyers will benefit greatly.

Topics Include

  • Current legal and marketplace developments
  • Wellness Int’l, Stern v. Marshall, Bellingham, and subsequent appellate cases
  • Mediation best practices; arbitration and bankruptcy conflicts
  • Jevic, Radio Shack, Caesar’s, Lehman, General Motors, Madoff, Bayou, Tousa
  • Structured and complex finance developments
  • Corporate governance and the powers and duties of DIPs and of their boards; SPEs; D&O liability, insurance and damage issues — Deepening Insolvency
  • Ethics and civility in practice
  • Controversies on sales of assets free and clear under Sections 363 and 1129 and bid procedures and protections; credit bidding (Fisker et al) - successor liability (General Motors)
  • New developments regarding unsecured and secured claims and types of interest, make whole premiums, Momentive, fee allowance, and labor and pension issues and claims
  • Professional firm bankruptcies - "Unfinished Business" case developments; Heller; Coudert
  • Defenses to voidable preference attacks, including paid and unpaid new value and § 546(e)
  • Fraudulent conveyances, LBOs and safe harbors and conduits; section 546(e), "good faith," valuation issues; in pari delicto and Ponzi issues and defenses - Tribune, Lyondell and Madoff developments
  • Executory contracts, leases and IP transactional issues — § 365(n), structuring, assumption, rejection and “ride-through”; Sunbeam; drafting for success
  • Enforcing intercreditor agreements, subordination, voting, distribution and litigation issues (Momentive)
  • International and cross-border insolvencies, inbound and outbound; Vitro

Special Feature

  • Earn one hour of Ethics credit

PLI Group Discounts

Groups of 4-14 from the same organization, all registering at the same time, for a PLI program scheduled for presentation at the same site, are entitled to receive a group discount. For further discount information, please contact membership@pli.edu or call (800) 260-4PLI.

PLI Can Arrange Group Viewing to Your Firm

Contact the Groupcasts Department via email at groupcasts@pli.edu for more details.

Cancellations

All cancellations received 3 business days prior to the program will be refunded 100%. If you do not cancel within the allotted time period, payment is due in full. You may substitute another individual to attend the program at any time.

Day One: 9:00 a.m. - 5:00 p.m.

9:00 Opening Remarks

Joseph Samet



9:15 Potpourri of Current Market Developments in Chapter 7 and 11 Business Cases –  Energy Future Holdings, Momentive, Caesars, ResCap, Jevic, Madoff, et al. and Mediation

  • Overview of program
  • Legislative winds of change – Code and Rules; key bankruptcy reform issues
  • Amendments to the Federal Rules of Bankruptcy Procedure, forms, and key local rules
  • Marketplace changes and speed of cases; Retail issues
  • Drafting pre-bankruptcy documents for success, preservation of rights and limits; risk management
  • Structured finance developments under §§ 555-562 – credit default swaps; derivatives in bankruptcy – Lehman, Dante, Metavante, Detroit
  • Mediation best practices in bankruptcy cases

Peter Borowitz, Hon. Robert D. Drain, Lewis Kruger, Joseph Samet



10:15 Current Jurisdictional and Procedural Issues – Wellness Int’l, Stern v. Marshall, Madoff, et al.

  • Exclusive and non-exclusive jurisdiction—Wellness Int’l, Stern v. Marshall, Bellingham and progeny; local rules
  • Withdrawal of the reference; abstention, remand and removal; jury trials
  • Appeals to the U.S. District Court, the BAP, and the Circuit Court of Appeals
  • Abstention
  • Remand and removal
  • Litigation in the Bankruptcy and District Courts; class certification
  • Post-confirmation jurisdiction
  • Issues involving enforceability of arbitration clauses; class certification

Hon. Robert D. Drain, Benjamin Rosenblum



11:15 Networking Break

11:30 DIP Financing and Other Lending Issues; First Day Orders                 
  • First day orders; disclosure; local rules
  • DIP financing, first lien, priming and super priority lending
  •  “Loan to Own” strategy
  • Use of cash collateral and surcharge
  • Expense of administration priority for post-petition trade debt
  • Contested issues and mootness; TMT Procurement, Atlas IT Export Corp.

Michael L. Cook



12:30 Lunch

1:45 Acquiring Assets from the Debtor Estate, Corporate Governance and D&O Duties and Liability                                                      
  • Process, procedures and litigation—scope and extent of break-up and topping fees
  • Structuring and negotiating bids; assignment of contracts— G.M., Fisker, RML, and small and medium cases
  • Sales free and clear and grounds for objections—cf. Clear Channel and progeny; restrictive covenants—Heatherwood Holdings
  • Bidding in during a 363 sale and plan confirmation- River Road; Innkeepers; Fisker; Free Lance-Star Publishing; cf. RML Development
  • Successor liability and future claims; GM; Emoral
  • Licenses, trademarks and patents in sales
  • Valuations in sales
  • Hearings, appeals and mootness—GM, Global Energies, New Energy Corp., CW Mining
  • Corporate governance issues and bankruptcy; state and international law; LLCs
  • Liability, insurance and fiduciary duties of officers and directors of insolvent debtors; Lyondell; conflicting deepening insolvency liability and damages law cf. Lemington Homes; Business judgment—Quadrant
  • D & O claims held by the estate and third parties

Kathryn Coleman, Joseph Samet



2:45 The Automatic Stay and Avoiding Powers                             
  • Current cases on scope of stay and exceptions—extraterritoriality (Lyondell); Fairfield
  • Relief from stay; criteria and litigation
  • Standing of creditors and committees to avoid transfers
  • Valuation disputes in stay and avoidance litigation
  • Voidable preferences; the ordinary course, paid and unpaid new value, subsequent advance and earmarking defenses; § 546(e);
  • Fraudulent transfers—Bankruptcy Code Sections 544(b) and 548, UFTA; Madoff, Ponzi cases; Janvey v. Brown; § 546(e); "antecedent debt" and "good faith defenses"; Tousa appellate decisions
(CFE Field of Study: Fraud)

Michael L. Cook



3:45 Networking Break

4:00 Treatment of Claims: Allowance and Priority                                  
  • Labor, severance and employee claims
  • Collective bargaining agreements; American, Hostess; Patriot Coal et al.
  • Class claims and class certification; tort claims; CERCLA; Section 502(d)—KB Toys
  • Oversecured and unsecured creditors' attorney and other professional fees—Ogle v. Fidelity, SNTL

 Richard M. Seltzer



5:00 Adjourn

Day Two: 9:00 a.m. - 4:45 p.m.

9:00 Executory Contracts; Energy Case Issues
  • Current cases; Interstate Bakeries, Sunbeam; cf. Lubrizol; Hostess, Qimonda, Physiotherapy; oil and gas contracts
  • Enforceability, if any, of post-petition performance
  • Leases as disguised security agreements
  • Retroactive lease rejections; landlord claims
  • Treatment of IP, internet license and franchise agreements; §365(n) cases
  • Assumption or rejection (Catapult fallout)

Kyle J. Kimpler



10:00 Intercreditor and Subordination Agreements; Make Whole Premium
  • Intercreditor agreements—recent decisions and pending appeals; current issues; agreements among lenders
  • Make-whole premiums— circuit split regarding voluntary redemptions following automatic acceleration; unmatured interest or liquidated damages; Ultra appeal

Kathryn Coleman, Joseph Samet, My Chi To



11:00 Networking Break

11:15 Cross-Border Insolvencies and Chapter 15 
  • Chapters 11 and 15—Vitro, Fairfield Sentry, Qimonda, et al
  • Concurrent, same entity, cross-border cases
  • Foreign main and non-main proceedings; Section 109 eligibility and the foreign debtor
  • Challenging recognition and enforcing controversial foreign plans; In re Barnet; ABC Learning
  • Current cases

Hon. Allan L. Gropper, Joseph Samet, Lisa M. Schweitzer



12:15 Lunch

1:30 Ethics in Diverse Bankruptcy Practice Areas
  • Ethics on critical issues in Chapter 11 cases, including retentions, conflicts, solicitations, civil behavior and Fee Guidelines
  • Committee, CRO and examiner functions and selection processes, Rule 2019
  • Duties and powers—scope of disclosure to creditors—Refco
  • Compensation; liability and exculpatory provisions for professionals

Lewis Kruger, Michael Richman



2:30 Plan Formulation and Negotiation      
  • Pre-packaged plans, SEC and bankruptcy disclosure rules
  • Lockups and exit financing
  • Classification of claims
  • Structural dismissals, “gifting” and “death trap”; Jevic; DBSD
  • Post-petition interest issues; make whole and prepayment premiums—Energy Future Holdings, Momentive; American Airlines
  • Reinstatement of debt—Charter
  • New value plans—LaSalle and progeny; Castleton Plaza
  • Debt for equity swaps
  • Trust Indenture Act Issues; §316(b) and cases
  • Tax considerations
  • Valuation issues
  • Third-party releases, exculpations, contribution and injunctions; related objections

Martin J. Bienenstock, Rachel C. Strickland



3:30 Networking Break

3:45 Disclosure Statements and Plan Confirmation           
  • Required disclosures, Rule 2019 objections, and Rule 3016
  • Trading claims—DBSD, KB Toys
  • Voting claims—designating claims—DBSD; soliciting votes
  • MAC clauses
  • Objections to confirmation—DBSD, Momentive
  • Appeals and mootness
  • Post-confirmation defaults, litigation and jurisdiction

Martin J. Bienenstock, Rachel C. Strickland



4:45 Adjourn

Chairperson(s)
Joseph Samet ~ Baker & McKenzie LLP (Ret.)
Speaker(s)
Martin J. Bienenstock ~ Proskauer Rose LLP
Peter L. Borowitz ~ Mediator - Partner in Law Firm, Debevoise & Plimpton (Ret.)
Kathryn A. Coleman ~ Hughes Hubbard & Reed LLP
Michael L. Cook ~ Schulte Roth & Zabel LLP
Hon. Robert D. Drain ~ U.S. Bankruptcy Court, Southern District of New York
Hon. Allan L. Gropper ~ Retired Judge, U.S. Bankruptcy Court, Southern District of New York , U.S. Bankruptcy Court Southern District of New York
Kyle J. Kimpler ~ Paul Weiss Rifkind Wharton & Garrison LLP
Lewis Kruger ~ Stroock & Stroock & Lavan LLP
Michael P. Richman ~ Hunton & Williams LLP
Benjamin Rosenblum ~ Jones Day
Lisa M. Schweitzer ~ Cleary Gottlieb Steen & Hamilton LLP
Richard M. Seltzer ~ Cohen Weiss & Simon LLP
Rachel C. Strickland ~ Willkie Farr & Gallagher LLP
My Chi To ~ Debevoise & Plimpton LLP
Program Attorney(s)
Seema Lal Meehan ~ Director, Special Projects and Senior Program Attorney , Practising Law Institute

New York City Seminar Location

PLI New York Center
, 1177 Avenue of the Americas, (2nd floor), entrance on 45th Street, New York, New York 10036. (800) 260-4754.

New York City Hotel Accommodations

Crowne Plaza Times Square Manhattan, 1605 Broadway (48th Street), New York, NY 10019 (212) 977-4000. When calling, mention Practising Law Institute. You can also make reservations online to access PLI's rates.

The Muse, 130 West 46th Street, New York, NY 10036. Please call reservations at 1-800-546-7866. When calling, please mention Practising Law Institute and Corporate Rate ID 786839408. In addition, you can book online at PLI Muse Hotel

Millennium Broadway Hotel, 145 West 44th Street, New York, NY 10036. Please call reservations at 1-800-622-5569. When calling, please mention Practising Law Institute. In addition, you can book online at PLI Millennium Hotel .

 Hyatt Times Square, 135 W. 45th Street, New York, NY 10036. For reservations, please call (646) 364-1234. When calling mention rate code CR56218 or Practising Law Institute.

General credit information about this format appears below. For credit information specific to this program, please choose your jurisdiction(s) in the Credit Information box on the right-hand side of this page.


U.S. MCLE States

Alabama: PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Alaska:  All PLI products can fulfill Alaska’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Arizona:  PLI’s live seminars qualify as “interactive CLE” credit. There is no limit to the number of credits an attorney can earn via interactive CLE programs.

Arkansas:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

California:  PLI’s live seminars qualify as “participatory” credit. There is no limit to the number of credits an attorney can earn via participatory programs.

Colorado:  All PLI products can fulfill Colorado’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Connecticut: Effective January 1, 2017, all PLI products can fulfill Connecticut’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Delaware:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Florida:  All PLI products can fulfill Florida’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Georgia:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Hawaii:  All PLI products can fulfill Hawaii’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Idaho:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Illinois: All PLI products can fulfill Illinois' CLE requirements for experienced attorneys. There is no limit to the number of credits an attorney can earn via PLI products.

Indiana:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Iowa:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Kansas:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live programs.

Kentucky:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Louisiana:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Maine:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Minnesota:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Mississippi:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Missouri:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Montana:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Nebraska:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Nevada:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

New Hampshire:  All PLI products can fulfill New Hampshire’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

New Jersey:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

New Mexico:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

New York

Experienced Attorneys:  All PLI products can fulfill New York’s CLE requirements for experienced attorneys. There is no limit to the number of credits an attorney can earn via PLI products.

Newly Admitted Attorneys:  PLI’s transitional live seminars can be used to fulfill the requirements for newly admitted attorneys. All credit categories may be earned via transitional live seminars.

North Carolina:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars

North Dakota:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Ohio:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Oklahoma:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Oregon:  All PLI products can fulfill Oregon’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Pennsylvania: PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Puerto Rico:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Rhode Island:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

South Carolina:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Tennessee:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Texas:  All PLI products can fulfill Texas’ CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Utah:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Vermont:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Virgin Islands:  All PLI products can fulfill the Virgin Islands’ CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Virginia:  PLI’s live seminars qualify as “live interactive” credit. There is no limit to the number of credits an attorney can earn via live interactive programs.

Washington:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

West Virginia:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Wisconsin:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Wyoming:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

CPD Jurisdictions

British Columbia (CPD-BC):  PLI’s live seminars qualify as “real-time” credit. There is no limit to the number of credits an attorney can earn via real-time programs.

Ontario (CPD-ON):  PLI’s live seminars qualify as “interactive” credit. There is no limit to the number of credits an attorney can earn via interactive programs.

Quebec (CPD-QC): PLI’s live seminars can fulfill Quebec’s CPD requirements.

Hong Kong (CPD-HK):  PLI’s live seminars qualify as “live” credit. There is no limit to the number of points an attorney can earn via live seminars.

United Kingdom (CPD-UK):  PLI’s live seminars can fulfill the United Kingdom’s CPD requirements.

Australia (CPD-AUS):  PLI’s live seminars qualify as “live” credit in all Australian jurisdictions. There is no limit to the number of credits an attorney can earn via live seminars.

Other Credit Types

CPE Credit (NASBA): PLI’s live seminars qualify as “Group-Live delivery” credit.

IRS Continuing Education (IRS-CE): PLI’s live seminars may fulfill IRS-CE requirements. To request IRS-CE credit, please notify PLI at plicredits@pli.edu of your request and include your Preparer Tax Identification Number (PTIN).

Certified Fraud Examiner CPE:  PLI’s live seminars may fulfill Certified Fraud Examiner CPE requirements. To request CPE credit or find out which programs offer CPE, please contact PLI at plicredits@pli.edu.

IAPP Continuing Privacy Credit (CPE):  PLI’s live seminars may fulfill Privacy CPE credit requirements.

HR Recertification (HRCI):  PLI’s live seminars may fulfill HR credit requirements.

SHRM Recertification (SHRM):  PLI’s live seminars qualify as "instructor-led" credit. There is no limit to the number of credits an SHRM professional can earn via instructor-led programs.

Compliance Certification Board (CCB):  PLI’s live seminars qualify as “live” training events. There is no limit to the number of credits a candidate or certification holder can earn via live programs.

Certified Anti-Money Laundering Specialists (CAMS):  PLI’s live seminars may fulfill CAMS credit requirements.

New York State Social Worker Continuing Education (SW CPE):  PLI’s live seminars may fulfill SW CPE credit requirements.

American Bankers Association Professional Certification (ABA):  PLI’s live seminars may fulfill ABA credit requirements.

Certified Financial Planners (CFP):  PLI’s live seminars may fulfill CFP credit requirements.

 

Staying abreast of the current developments in restructuring, bankruptcy and reorganizations is essential, and this advanced conference assembles a remarkable faculty of bankruptcy judges and leading practitioners who will provide you with a thorough review and analysis of hot topics and recent decisions in diverse industries, including energy. They will also cover the Supreme Court’s decisions on jurisdiction and Jevic. The faculty will review recent cases and trends that affect your practice on behalf of debtors, vendors, bondholders, lenders, diverse groups of creditors, hedge funds, committees, labor, and parties to executory contracts, structured finance deals, sales and other transactions and there will be special focus on valuation, gifting, and structured dismissals. Equip yourself with strategies, litigation tactics, and mediation and negotiation skills you can use daily.

This program is designed for a wide range of restructuring, bankruptcy, reorganization and other transactional practitioners, litigators, in-house counsel and others who are involved in restructurings and insolvency cases. A basic knowledge of defaults, the Bankruptcy Code, rules and procedures is necessary. This program will help transactional, litigation, and IP lawyers prepare for and deal with defaults, restructurings, and sales of distressed assets, and experienced lawyers will benefit greatly.

Topics Include

  • Current legal and marketplace developments
  • Wellness Int’l, Stern v. Marshall, Bellingham, and subsequent appellate cases
  • Mediation best practices; arbitration and bankruptcy conflicts
  • Jevic, Radio Shack, Caesar’s, Lehman, General Motors, Madoff, Bayou, Tousa
  • Structured and complex finance developments
  • Corporate governance and the powers and duties of DIPs and of their boards; SPEs; D&O liability, insurance and damage issues — Deepening Insolvency
  • Ethics and civility in practice
  • Controversies on sales of assets free and clear under Sections 363 and 1129 and bid procedures and protections; credit bidding (Fisker et al) - successor liability (General Motors)
  • New developments regarding unsecured and secured claims and types of interest, make whole premiums, Momentive, fee allowance, and labor and pension issues and claims
  • Professional firm bankruptcies - "Unfinished Business" case developments; Heller; Coudert
  • Defenses to voidable preference attacks, including paid and unpaid new value and § 546(e)
  • Fraudulent conveyances, LBOs and safe harbors and conduits; section 546(e), "good faith," valuation issues; in pari delicto and Ponzi issues and defenses - Tribune, Lyondell and Madoff developments
  • Executory contracts, leases and IP transactional issues — § 365(n), structuring, assumption, rejection and “ride-through”; Sunbeam; drafting for success
  • Enforcing intercreditor agreements, subordination, voting, distribution and litigation issues (Momentive)
  • International and cross-border insolvencies, inbound and outbound; Vitro

Special Feature

  • Earn one hour of Ethics credit

PLI Group Discounts

Groups of 4-14 from the same organization, all registering at the same time, for a PLI program scheduled for presentation at the same site, are entitled to receive a group discount. For further discount information, please contact membership@pli.edu or call (800) 260-4PLI.

PLI Can Arrange Group Viewing to Your Firm

Contact the Groupcasts Department via email at groupcasts@pli.edu for more details.

Cancellations

All cancellations received 3 business days prior to the program will be refunded 100%. If you do not cancel within the allotted time period, payment is due in full. You may substitute another individual to attend the program at any time.

Day One: 9:00 a.m. - 5:00 p.m.

9:00 Opening Remarks

Joseph Samet



9:15 Potpourri of Current Market Developments in Chapter 7 and 11 Business Cases –  Energy Future Holdings, Momentive, Caesars, ResCap, Jevic, Madoff, et al. and Mediation

  • Overview of program
  • Legislative winds of change – Code and Rules; key bankruptcy reform issues
  • Amendments to the Federal Rules of Bankruptcy Procedure, forms, and key local rules
  • Marketplace changes and speed of cases; Retail issues
  • Drafting pre-bankruptcy documents for success, preservation of rights and limits; risk management
  • Structured finance developments under §§ 555-562 – credit default swaps; derivatives in bankruptcy – Lehman, Dante, Metavante, Detroit
  • Mediation best practices in bankruptcy cases

Peter Borowitz, Hon. Robert D. Drain, Lewis Kruger, Joseph Samet



10:15 Current Jurisdictional and Procedural Issues – Wellness Int’l, Stern v. Marshall, Madoff, et al.

  • Exclusive and non-exclusive jurisdiction—Wellness Int’l, Stern v. Marshall, Bellingham and progeny; local rules
  • Withdrawal of the reference; abstention, remand and removal; jury trials
  • Appeals to the U.S. District Court, the BAP, and the Circuit Court of Appeals
  • Abstention
  • Remand and removal
  • Litigation in the Bankruptcy and District Courts; class certification
  • Post-confirmation jurisdiction
  • Issues involving enforceability of arbitration clauses; class certification

Hon. Robert D. Drain, Benjamin Rosenblum



11:15 Networking Break

11:30 DIP Financing and Other Lending Issues; First Day Orders                 
  • First day orders; disclosure; local rules
  • DIP financing, first lien, priming and super priority lending
  •  “Loan to Own” strategy
  • Use of cash collateral and surcharge
  • Expense of administration priority for post-petition trade debt
  • Contested issues and mootness; TMT Procurement, Atlas IT Export Corp.

Michael L. Cook



12:30 Lunch

1:45 Acquiring Assets from the Debtor Estate, Corporate Governance and D&O Duties and Liability                                                      
  • Process, procedures and litigation—scope and extent of break-up and topping fees
  • Structuring and negotiating bids; assignment of contracts— G.M., Fisker, RML, and small and medium cases
  • Sales free and clear and grounds for objections—cf. Clear Channel and progeny; restrictive covenants—Heatherwood Holdings
  • Bidding in during a 363 sale and plan confirmation- River Road; Innkeepers; Fisker; Free Lance-Star Publishing; cf. RML Development
  • Successor liability and future claims; GM; Emoral
  • Licenses, trademarks and patents in sales
  • Valuations in sales
  • Hearings, appeals and mootness—GM, Global Energies, New Energy Corp., CW Mining
  • Corporate governance issues and bankruptcy; state and international law; LLCs
  • Liability, insurance and fiduciary duties of officers and directors of insolvent debtors; Lyondell; conflicting deepening insolvency liability and damages law cf. Lemington Homes; Business judgment—Quadrant
  • D & O claims held by the estate and third parties

Kathryn Coleman, Joseph Samet



2:45 The Automatic Stay and Avoiding Powers                             
  • Current cases on scope of stay and exceptions—extraterritoriality (Lyondell); Fairfield
  • Relief from stay; criteria and litigation
  • Standing of creditors and committees to avoid transfers
  • Valuation disputes in stay and avoidance litigation
  • Voidable preferences; the ordinary course, paid and unpaid new value, subsequent advance and earmarking defenses; § 546(e);
  • Fraudulent transfers—Bankruptcy Code Sections 544(b) and 548, UFTA; Madoff, Ponzi cases; Janvey v. Brown; § 546(e); "antecedent debt" and "good faith defenses"; Tousa appellate decisions
(CFE Field of Study: Fraud)

Michael L. Cook



3:45 Networking Break

4:00 Treatment of Claims: Allowance and Priority                                  
  • Labor, severance and employee claims
  • Collective bargaining agreements; American, Hostess; Patriot Coal et al.
  • Class claims and class certification; tort claims; CERCLA; Section 502(d)—KB Toys
  • Oversecured and unsecured creditors' attorney and other professional fees—Ogle v. Fidelity, SNTL

 Richard M. Seltzer



5:00 Adjourn

Day Two: 9:00 a.m. - 4:45 p.m.

9:00 Executory Contracts; Energy Case Issues
  • Current cases; Interstate Bakeries, Sunbeam; cf. Lubrizol; Hostess, Qimonda, Physiotherapy; oil and gas contracts
  • Enforceability, if any, of post-petition performance
  • Leases as disguised security agreements
  • Retroactive lease rejections; landlord claims
  • Treatment of IP, internet license and franchise agreements; §365(n) cases
  • Assumption or rejection (Catapult fallout)

Kyle J. Kimpler



10:00 Intercreditor and Subordination Agreements; Make Whole Premium
  • Intercreditor agreements—recent decisions and pending appeals; current issues; agreements among lenders
  • Make-whole premiums— circuit split regarding voluntary redemptions following automatic acceleration; unmatured interest or liquidated damages; Ultra appeal

Kathryn Coleman, Joseph Samet, My Chi To



11:00 Networking Break

11:15 Cross-Border Insolvencies and Chapter 15 
  • Chapters 11 and 15—Vitro, Fairfield Sentry, Qimonda, et al
  • Concurrent, same entity, cross-border cases
  • Foreign main and non-main proceedings; Section 109 eligibility and the foreign debtor
  • Challenging recognition and enforcing controversial foreign plans; In re Barnet; ABC Learning
  • Current cases

Hon. Allan L. Gropper, Joseph Samet, Lisa M. Schweitzer



12:15 Lunch

1:30 Ethics in Diverse Bankruptcy Practice Areas
  • Ethics on critical issues in Chapter 11 cases, including retentions, conflicts, solicitations, civil behavior and Fee Guidelines
  • Committee, CRO and examiner functions and selection processes, Rule 2019
  • Duties and powers—scope of disclosure to creditors—Refco
  • Compensation; liability and exculpatory provisions for professionals

Lewis Kruger, Michael Richman



2:30 Plan Formulation and Negotiation      
  • Pre-packaged plans, SEC and bankruptcy disclosure rules
  • Lockups and exit financing
  • Classification of claims
  • Structural dismissals, “gifting” and “death trap”; Jevic; DBSD
  • Post-petition interest issues; make whole and prepayment premiums—Energy Future Holdings, Momentive; American Airlines
  • Reinstatement of debt—Charter
  • New value plans—LaSalle and progeny; Castleton Plaza
  • Debt for equity swaps
  • Trust Indenture Act Issues; §316(b) and cases
  • Tax considerations
  • Valuation issues
  • Third-party releases, exculpations, contribution and injunctions; related objections

Martin J. Bienenstock, Rachel C. Strickland



3:30 Networking Break

3:45 Disclosure Statements and Plan Confirmation           
  • Required disclosures, Rule 2019 objections, and Rule 3016
  • Trading claims—DBSD, KB Toys
  • Voting claims—designating claims—DBSD; soliciting votes
  • MAC clauses
  • Objections to confirmation—DBSD, Momentive
  • Appeals and mootness
  • Post-confirmation defaults, litigation and jurisdiction

Martin J. Bienenstock, Rachel C. Strickland



4:45 Adjourn

Chairperson(s)
Joseph Samet ~ Baker & McKenzie LLP (Ret.)
Speaker(s)
Martin J. Bienenstock ~ Proskauer Rose LLP
Peter L. Borowitz ~ Mediator - Partner in Law Firm, Debevoise & Plimpton (Ret.)
Kathryn A. Coleman ~ Hughes Hubbard & Reed LLP
Michael L. Cook ~ Schulte Roth & Zabel LLP
Hon. Robert D. Drain ~ U.S. Bankruptcy Court, Southern District of New York
Hon. Allan L. Gropper ~ Retired Judge, U.S. Bankruptcy Court, Southern District of New York , U.S. Bankruptcy Court Southern District of New York
Kyle J. Kimpler ~ Paul Weiss Rifkind Wharton & Garrison LLP
Lewis Kruger ~ Stroock & Stroock & Lavan LLP
Michael P. Richman ~ Hunton & Williams LLP
Benjamin Rosenblum ~ Jones Day
Lisa M. Schweitzer ~ Cleary Gottlieb Steen & Hamilton LLP
Richard M. Seltzer ~ Cohen Weiss & Simon LLP
Rachel C. Strickland ~ Willkie Farr & Gallagher LLP
My Chi To ~ Debevoise & Plimpton LLP
Program Attorney(s)
Seema Lal Meehan ~ Director, Special Projects and Senior Program Attorney , Practising Law Institute
General credit information about this format appears below. For credit information specific to this program, please choose your jurisdiction(s) in the Credit Information box on the right-hand side of this page.

PLI’s live and on-demand webcasts are single-user license products intended for an individual registrant only. Credit will be issued only to the individual registered. If two or more individuals wish to participate in a webcast and receive credit, PLI would be happy to provide a Groupcast – group viewing of a webcast. To schedule a Groupcast, please contact PLI at groupcasts@pli.edu.


U.S. MCLE States

Alabama:  PLI’s live webcasts qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live webcasts.

Alaska:  All PLI products can fulfill Alaska’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Arizona:  PLI’s live webcasts qualify as “interactive CLE” credit. There is no limit to the number of credits an attorney can earn via interactive CLE programs.

Arkansas:  PLI’s live webcasts qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live webcasts.

California:  PLI’s live webcasts qualify as “participatory” credit. There is no limit to the number of credits an attorney can earn via participatory programs.

Colorado:  All PLI products can fulfill Colorado’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Connecticut: Effective January 1, 2017, all PLI products can fulfill Connecticut’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Delaware:  PLI’s live webcasts qualify as “eCLE” credit. Attorneys are limited to 12 credits of eCLE per reporting period.

Florida:  All PLI products can fulfill Florida’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Georgia:  PLI’s live webcasts qualify as “in-house” credit. Attorneys are limited to 6 in-house credits per reporting period.

Hawaii:  All PLI products can fulfill Hawaii’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Idaho:  PLI’s live webcasts qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live webcasts.

Illinois:  All PLI products can fulfill Illinois' CLE requirements for experienced attorneys. There is no limit to the number of credits an attorney can earn via PLI products.

Indiana:  PLI’s live webcasts qualify as “distance education” credit. Attorneys are limited to 9 credits of distance education per reporting period.

Iowa:  PLI’s live webcasts qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live webcasts.

Kansas:  PLI’s live webcasts qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live webcasts.

Kentucky:  PLI’s live webcasts qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live webcasts.

Louisiana:  PLI’s live webcasts qualify as “self-study” credit. Attorneys are limited to 4 credits of self-study per reporting period.

Maine:  PLI’s live webcasts qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live webcasts.

Minnesota:  PLI’s live webcasts qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live webcasts.

Mississippi:  PLI’s live webcasts qualify as “distance learning” credit. Attorneys are limited to 6 credits of distance learning per reporting period.

Missouri:  PLI’s live webcasts qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live webcasts.

Montana:  PLI’s live webcasts qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live webcasts.

Nebraska:  PLI’s live webcasts qualify as “computer-based learning” credit. Attorneys are limited to 5 credits of computer-based learning per reporting period.

Nevada:  PLI’s live webcasts qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live webcasts.

New Hampshire:  All PLI products can fulfill New Hampshire’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

New Jersey:  PLI’s live webcasts qualify as “alternative verifiable learning formats” credit. Attorneys are limited to 12 credits of alternative verifiable learning formats per reporting period.

New Mexico:  PLI’s live webcasts qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live webcasts.

New York

Experienced Attorneys:  All PLI products can fulfill New York’s CLE requirements for experienced attorneys. There is no limit to the number of credits an attorney can earn via PLI products.

Newly Admitted Attorneys:  PLI’s transitional live webcasts can be used to fulfill the requirements for New York newly admitted attorneys. Ethics credit, professional practice credit, and law practice management credit may be earned via transitional live webcasts. Skills credits may not be earned via live webcasts.

North Carolina:  PLI’s live webcasts qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live webcasts.

North Dakota:  PLI’s live webcasts qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live webcasts.

Ohio:  PLI’s live webcasts qualify as “self-study” credit. Attorneys are limited to 12 credits of self-study per reporting period.

Oklahoma:  PLI’s live webcasts qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live webcasts.

Oregon:  All PLI products can fulfill Oregon’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Pennsylvania:  PLI’s live webcasts qualify as “distance learning” credit. Attorneys are limited to 6 credits of distance learning per reporting period.

Puerto Rico:  PLI’s live webcasts qualify as “non-traditional” credit. Attorneys are limited to 8 credits of non-traditional programs per reporting period.

Rhode Island:  PLI’s live webcasts qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live webcasts.

South Carolina:  PLI’s live webcasts qualify as “alternatively delivered” credit. Attorneys are limited to 6 credits of alternatively delivered programs per reporting period.

Tennessee:  PLI’s live webcasts qualify as “distance learning” credit. Attorneys are limited to 8 credits of distance learning per reporting period.

Texas:  All PLI products can fulfill Texas’ CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Utah:  PLI’s live webcasts qualify as “self-study” credit. Attorneys are limited to 12 credits of self-study per reporting period.

Vermont:  PLI’s live webcasts qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live webcasts.

Virgin Islands:  All PLI products can fulfill the Virgin Islands’ CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Virginia:  PLI’s live webcasts qualify as “live interactive” credit. There is no limit to the number of credits an attorney can earn via live interactive programs.

Washington:  PLI’s live webcasts qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live webcasts.

West Virginia:  PLI’s live webcasts qualify as “online” credit. Attorneys are limited to 12 credits of online instruction per reporting period.

Wisconsin:  PLI’s live webcasts qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live webcasts.

Wyoming:  PLI’s live webcasts qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live webcasts.

CPD Jurisdictions

British Columbia (CPD-BC):  PLI’s live webcasts qualify as “real-time” credit. There is no limit to the number of credits an attorney can earn via real-time programs.

Ontario (CPD-ON):  PLI’s live webcasts qualify as “interactive” credit. There is no limit to the number of credits an attorney can earn via interactive programs.

Quebec (CPD-QC):  PLI’s live webcasts can fulfill Quebec’s CPD requirements.

Hong Kong (CPD-HK):  PLI’s live webcasts qualify as “distance learning” credit. Attorneys are limited to 15 points of distance learning programs per reporting period.

United Kingdom (CPD-UK):  PLI’s live webcasts can fulfill the United Kingdom’s CPD requirements.

Australia (CPD-AUS):  PLI’s live webcasts may fulfill Australia’s CPD requirements. Credit limits for live webcasts vary according to jurisdiction. Please refer to your jurisdiction’s CPD information page for specifics.

Other Credit Types

CPE Credit (NASBA):  PLI’s live webcasts qualify as “Group-Internet-Based” (GIB) credit.

IRS Continuing Education (IRS-CE):  PLI’s live webcasts may fulfill IRS-CE requirements. To request IRS-CE credit, please notify PLI at plicredits@pli.edu of your request and include your Preparer Tax Identification Number (PTIN).

Certified Fraud Examiner CPE:  PLI’s live webcasts may fulfill Certified Fraud Examiner CPE requirements. To request CPE credit or find out which programs offer CPE, please contact PLI at plicredits@pli.edu.

IAPP Continuing Privacy Credit (CPE):  PLI’s live webcasts may fulfill Privacy CPE credit requirements.

HR Recertification (HRCI):  PLI’s live webcasts may fulfill HR credit requirements.

SHRM Recertification (SHRM):  PLI’s live webcasts qualify as "instructor-led" credit. There is no limit to the number of credits an SHRM professional can earn via instructor-led programs.

Compliance Certification Board (CCB):  PLI’s live webcasts qualify as “live” training events. There is no limit to the number of credits a candidate or certification holder can earn via live programs.

Certified Anti-Money Laundering Specialists (CAMS):  PLI’s live webcasts may fulfill CAMS credit requirements.

New York State Social Worker Continuing Education (SW CPE):  PLI’s live webcasts may fulfill SW CPE credit requirements.

American Bankers Association Professional Certification (ABA):  PLI’s live webcasts may fulfill ABA credit requirements.

Certified Financial Planners (CFP):  PLI’s live webcasts may fulfill CFP credit requirements.

 

Staying abreast of the current developments in restructuring, bankruptcy and reorganizations is essential, and this advanced conference assembles a remarkable faculty of bankruptcy judges and leading practitioners who will provide you with a thorough review and analysis of hot topics and recent decisions in diverse industries, including energy. They will also cover the Supreme Court’s decisions on jurisdiction and Jevic. The faculty will review recent cases and trends that affect your practice on behalf of debtors, vendors, bondholders, lenders, diverse groups of creditors, hedge funds, committees, labor, and parties to executory contracts, structured finance deals, sales and other transactions and there will be special focus on valuation, gifting, and structured dismissals. Equip yourself with strategies, litigation tactics, and mediation and negotiation skills you can use daily.

This program is designed for a wide range of restructuring, bankruptcy, reorganization and other transactional practitioners, litigators, in-house counsel and others who are involved in restructurings and insolvency cases. A basic knowledge of defaults, the Bankruptcy Code, rules and procedures is necessary. This program will help transactional, litigation, and IP lawyers prepare for and deal with defaults, restructurings, and sales of distressed assets, and experienced lawyers will benefit greatly.

Topics Include

  • Current legal and marketplace developments
  • Wellness Int’l, Stern v. Marshall, Bellingham, and subsequent appellate cases
  • Mediation best practices; arbitration and bankruptcy conflicts
  • Jevic, Radio Shack, Caesar’s, Lehman, General Motors, Madoff, Bayou, Tousa
  • Structured and complex finance developments
  • Corporate governance and the powers and duties of DIPs and of their boards; SPEs; D&O liability, insurance and damage issues — Deepening Insolvency
  • Ethics and civility in practice
  • Controversies on sales of assets free and clear under Sections 363 and 1129 and bid procedures and protections; credit bidding (Fisker et al) - successor liability (General Motors)
  • New developments regarding unsecured and secured claims and types of interest, make whole premiums, Momentive, fee allowance, and labor and pension issues and claims
  • Professional firm bankruptcies - "Unfinished Business" case developments; Heller; Coudert
  • Defenses to voidable preference attacks, including paid and unpaid new value and § 546(e)
  • Fraudulent conveyances, LBOs and safe harbors and conduits; section 546(e), "good faith," valuation issues; in pari delicto and Ponzi issues and defenses - Tribune, Lyondell and Madoff developments
  • Executory contracts, leases and IP transactional issues — § 365(n), structuring, assumption, rejection and “ride-through”; Sunbeam; drafting for success
  • Enforcing intercreditor agreements, subordination, voting, distribution and litigation issues (Momentive)
  • International and cross-border insolvencies, inbound and outbound; Vitro

Special Feature

  • Earn one hour of Ethics credit

PLI Group Discounts

Groups of 4-14 from the same organization, all registering at the same time, for a PLI program scheduled for presentation at the same site, are entitled to receive a group discount. For further discount information, please contact membership@pli.edu or call (800) 260-4PLI.

PLI Can Arrange Group Viewing to Your Firm

Contact the Groupcasts Department via email at groupcasts@pli.edu for more details.

Cancellations

All cancellations received 3 business days prior to the program will be refunded 100%. If you do not cancel within the allotted time period, payment is due in full. You may substitute another individual to attend the program at any time.

Day One: 9:00 a.m. - 5:00 p.m.

9:00 Opening Remarks

Joseph Samet



9:15 Potpourri of Current Market Developments in Chapter 7 and 11 Business Cases –  Energy Future Holdings, Momentive, Caesars, ResCap, Jevic, Madoff, et al. and Mediation

  • Overview of program
  • Legislative winds of change – Code and Rules; key bankruptcy reform issues
  • Amendments to the Federal Rules of Bankruptcy Procedure, forms, and key local rules
  • Marketplace changes and speed of cases; Retail issues
  • Drafting pre-bankruptcy documents for success, preservation of rights and limits; risk management
  • Structured finance developments under §§ 555-562 – credit default swaps; derivatives in bankruptcy – Lehman, Dante, Metavante, Detroit
  • Mediation best practices in bankruptcy cases

Peter Borowitz, Hon. Robert D. Drain, Lewis Kruger, Joseph Samet



10:15 Current Jurisdictional and Procedural Issues – Wellness Int’l, Stern v. Marshall, Madoff, et al.

  • Exclusive and non-exclusive jurisdiction—Wellness Int’l, Stern v. Marshall, Bellingham and progeny; local rules
  • Withdrawal of the reference; abstention, remand and removal; jury trials
  • Appeals to the U.S. District Court, the BAP, and the Circuit Court of Appeals
  • Abstention
  • Remand and removal
  • Litigation in the Bankruptcy and District Courts; class certification
  • Post-confirmation jurisdiction
  • Issues involving enforceability of arbitration clauses; class certification

Hon. Robert D. Drain, Benjamin Rosenblum



11:15 Networking Break

11:30 DIP Financing and Other Lending Issues; First Day Orders                 
  • First day orders; disclosure; local rules
  • DIP financing, first lien, priming and super priority lending
  •  “Loan to Own” strategy
  • Use of cash collateral and surcharge
  • Expense of administration priority for post-petition trade debt
  • Contested issues and mootness; TMT Procurement, Atlas IT Export Corp.

Michael L. Cook



12:30 Lunch

1:45 Acquiring Assets from the Debtor Estate, Corporate Governance and D&O Duties and Liability                                                      
  • Process, procedures and litigation—scope and extent of break-up and topping fees
  • Structuring and negotiating bids; assignment of contracts— G.M., Fisker, RML, and small and medium cases
  • Sales free and clear and grounds for objections—cf. Clear Channel and progeny; restrictive covenants—Heatherwood Holdings
  • Bidding in during a 363 sale and plan confirmation- River Road; Innkeepers; Fisker; Free Lance-Star Publishing; cf. RML Development
  • Successor liability and future claims; GM; Emoral
  • Licenses, trademarks and patents in sales
  • Valuations in sales
  • Hearings, appeals and mootness—GM, Global Energies, New Energy Corp., CW Mining
  • Corporate governance issues and bankruptcy; state and international law; LLCs
  • Liability, insurance and fiduciary duties of officers and directors of insolvent debtors; Lyondell; conflicting deepening insolvency liability and damages law cf. Lemington Homes; Business judgment—Quadrant
  • D & O claims held by the estate and third parties

Kathryn Coleman, Joseph Samet



2:45 The Automatic Stay and Avoiding Powers                             
  • Current cases on scope of stay and exceptions—extraterritoriality (Lyondell); Fairfield
  • Relief from stay; criteria and litigation
  • Standing of creditors and committees to avoid transfers
  • Valuation disputes in stay and avoidance litigation
  • Voidable preferences; the ordinary course, paid and unpaid new value, subsequent advance and earmarking defenses; § 546(e);
  • Fraudulent transfers—Bankruptcy Code Sections 544(b) and 548, UFTA; Madoff, Ponzi cases; Janvey v. Brown; § 546(e); "antecedent debt" and "good faith defenses"; Tousa appellate decisions
(CFE Field of Study: Fraud)

Michael L. Cook



3:45 Networking Break

4:00 Treatment of Claims: Allowance and Priority                                  
  • Labor, severance and employee claims
  • Collective bargaining agreements; American, Hostess; Patriot Coal et al.
  • Class claims and class certification; tort claims; CERCLA; Section 502(d)—KB Toys
  • Oversecured and unsecured creditors' attorney and other professional fees—Ogle v. Fidelity, SNTL

 Richard M. Seltzer



5:00 Adjourn

Day Two: 9:00 a.m. - 4:45 p.m.

9:00 Executory Contracts; Energy Case Issues
  • Current cases; Interstate Bakeries, Sunbeam; cf. Lubrizol; Hostess, Qimonda, Physiotherapy; oil and gas contracts
  • Enforceability, if any, of post-petition performance
  • Leases as disguised security agreements
  • Retroactive lease rejections; landlord claims
  • Treatment of IP, internet license and franchise agreements; §365(n) cases
  • Assumption or rejection (Catapult fallout)

Kyle J. Kimpler



10:00 Intercreditor and Subordination Agreements; Make Whole Premium
  • Intercreditor agreements—recent decisions and pending appeals; current issues; agreements among lenders
  • Make-whole premiums— circuit split regarding voluntary redemptions following automatic acceleration; unmatured interest or liquidated damages; Ultra appeal

Kathryn Coleman, Joseph Samet, My Chi To



11:00 Networking Break

11:15 Cross-Border Insolvencies and Chapter 15 
  • Chapters 11 and 15—Vitro, Fairfield Sentry, Qimonda, et al
  • Concurrent, same entity, cross-border cases
  • Foreign main and non-main proceedings; Section 109 eligibility and the foreign debtor
  • Challenging recognition and enforcing controversial foreign plans; In re Barnet; ABC Learning
  • Current cases

Hon. Allan L. Gropper, Joseph Samet, Lisa M. Schweitzer



12:15 Lunch

1:30 Ethics in Diverse Bankruptcy Practice Areas
  • Ethics on critical issues in Chapter 11 cases, including retentions, conflicts, solicitations, civil behavior and Fee Guidelines
  • Committee, CRO and examiner functions and selection processes, Rule 2019
  • Duties and powers—scope of disclosure to creditors—Refco
  • Compensation; liability and exculpatory provisions for professionals

Lewis Kruger, Michael Richman



2:30 Plan Formulation and Negotiation      
  • Pre-packaged plans, SEC and bankruptcy disclosure rules
  • Lockups and exit financing
  • Classification of claims
  • Structural dismissals, “gifting” and “death trap”; Jevic; DBSD
  • Post-petition interest issues; make whole and prepayment premiums—Energy Future Holdings, Momentive; American Airlines
  • Reinstatement of debt—Charter
  • New value plans—LaSalle and progeny; Castleton Plaza
  • Debt for equity swaps
  • Trust Indenture Act Issues; §316(b) and cases
  • Tax considerations
  • Valuation issues
  • Third-party releases, exculpations, contribution and injunctions; related objections

Martin J. Bienenstock, Rachel C. Strickland



3:30 Networking Break

3:45 Disclosure Statements and Plan Confirmation           
  • Required disclosures, Rule 2019 objections, and Rule 3016
  • Trading claims—DBSD, KB Toys
  • Voting claims—designating claims—DBSD; soliciting votes
  • MAC clauses
  • Objections to confirmation—DBSD, Momentive
  • Appeals and mootness
  • Post-confirmation defaults, litigation and jurisdiction

Martin J. Bienenstock, Rachel C. Strickland



4:45 Adjourn

Chairperson(s)
Joseph Samet ~ Baker & McKenzie LLP (Ret.)
Speaker(s)
Martin J. Bienenstock ~ Proskauer Rose LLP
Peter L. Borowitz ~ Mediator - Partner in Law Firm, Debevoise & Plimpton (Ret.)
Kathryn A. Coleman ~ Hughes Hubbard & Reed LLP
Michael L. Cook ~ Schulte Roth & Zabel LLP
Hon. Robert D. Drain ~ U.S. Bankruptcy Court, Southern District of New York
Hon. Allan L. Gropper ~ Retired Judge, U.S. Bankruptcy Court, Southern District of New York , U.S. Bankruptcy Court Southern District of New York
Kyle J. Kimpler ~ Paul Weiss Rifkind Wharton & Garrison LLP
Lewis Kruger ~ Stroock & Stroock & Lavan LLP
Michael P. Richman ~ Hunton & Williams LLP
Benjamin Rosenblum ~ Jones Day
Lisa M. Schweitzer ~ Cleary Gottlieb Steen & Hamilton LLP
Richard M. Seltzer ~ Cohen Weiss & Simon LLP
Rachel C. Strickland ~ Willkie Farr & Gallagher LLP
My Chi To ~ Debevoise & Plimpton LLP
Program Attorney(s)
Seema Lal Meehan ~ Director, Special Projects and Senior Program Attorney , Practising Law Institute
Ice Miller LLP, One American Square, Suite 2900, Indianapolis, IN 46282

General credit information about this format appears below. For credit information specific to this program, please choose your jurisdiction(s) in the Credit Information box on the right-hand side of this page.


U.S. MCLE States

Alabama:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Alaska:  All PLI products can fulfill Alaska’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Arizona:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “interactive CLE” credit. There is no limit to the number of credits an attorney can earn via interactive CLE programs.

Arkansas:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

California:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “participatory” credit. There is no limit to the number of credits an attorney can earn via participatory programs.

Colorado:  All PLI products can fulfill Colorado’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Connecticut: Effective January 1, 2017, all PLI products can fulfill Connecticut’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Delaware:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Florida:  All PLI products can fulfill Florida’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Georgia:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Hawaii:  All PLI products can fulfill Hawaii’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Idaho:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Illinois:  All PLI products can fulfill Illinois' CLE requirements for experienced attorneys. There is no limit to the number of credits an attorney can earn via PLI products.

Indiana:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Iowa:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Kansas:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live programs.

Kentucky:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Louisiana:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Maine:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Minnesota:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Mississippi:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “distance learning” credit. Attorneys are limited to 6 credits of distance learning per reporting period.

Missouri:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Montana:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Nebraska:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Nevada:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

New Hampshire:  All PLI products can fulfill New Hampshire’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

New Jersey:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “alternative verifiable learning formats” credit. Attorneys are limited to 12 credits of alternative verifiable learning formats per reporting period.

New Mexico:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

New York

Experienced Attorneys:  All PLI products can fulfill New York’s CLE requirements for experienced attorneys. There is no limit to the number of credits an attorney can earn via PLI products.

Newly Admitted Attorneys:  PLI’s transitional live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) can be used to fulfill the requirements for New York newly admitted attorneys. Ethics credit, professional practice credit, and law practice management credit may be earned via transitional live groupcasts. Skills credits may not be earned via live groupcasts.

North Carolina:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

North Dakota:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Ohio:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Oklahoma:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Oregon:  All PLI products can fulfill Oregon’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Pennsylvania:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Puerto Rico:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Rhode Island:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

South Carolina:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Tennessee:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Texas:  All PLI products can fulfill Texas’ CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Utah:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “self-study” credit. Attorneys are limited to 12 credits of self-study per reporting period.

Vermont:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Virgin Islands:  All PLI products can fulfill the Virgin Islands’ CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Virginia:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live interactive” credit. There is no limit to the number of credits an attorney can earn via live interactive programs.

Washington:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

West Virginia:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Wisconsin:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Wyoming:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.


CPD Jurisdictions

British Columbia (CPD-BC):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “real-time” credit. There is no limit to the number of credits an attorney can earn via real-time programs.

Ontario (CPD-ON):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “interactive” credit. There is no limit to the number of credits an attorney can earn via interactive programs.

Quebec (CPD-QC):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) can fulfill Quebec’s CPD requirements.

Hong Kong (CPD-HK):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of points an attorney can earn via live groupcasts.

United Kingdom (CPD-UK):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) can fulfill the United Kingdom’s CPD requirements.

Australia (CPD-AUS):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) may fulfill Australia’s CPD requirements. Credit limits for live groupcasts vary according to jurisdiction. Please refer to your jurisdiction’s CPD information page for specifics.


Other Credit Types

CPE Credit (NASBA):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “Group-Live delivery” credit.

IRS Continuing Education (IRS-CE):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) may fulfill IRS-CE requirements. To request IRS-CE credit, please notify PLI at plicredits@pli.edu of your request and include your Preparer Tax Identification Number (PTIN).

Certified Fraud Examiner CPE:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) may fulfill Certified Fraud Examiner CPE requirements. To request CPE credit or find out which programs offer CPE, please contact PLI at plicredits@pli.edu.

IAPP Continuing Privacy Credit (CPE):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) may fulfill Privacy CPE credit requirements.

HR Recertification (HRCI):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) may fulfill HR credit requirements.

SHRM Recertification (SHRM):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as "instructor-led" credit. There is no limit to the number of credits an SHRM professional can earn via instructor-led programs.

Compliance Certification Board (CCB):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” training events. There is no limit to the number of credits a candidate or certification holder can earn via live groupcasts.

Certified Anti-Money Laundering Specialists (CAMS):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) may fulfill CAMS credit requirements.

New York State Social Worker Continuing Education (SW CPE):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) may fulfill SW CPE credit requirements.

American Bankers Association Professional Certification (ABA):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) may fulfill ABA credit requirements.

Certified Financial Planners (CFP):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) may fulfill CFP credit requirements.

 

Staying abreast of the current developments in restructuring, bankruptcy and reorganizations is essential, and this advanced conference assembles a remarkable faculty of bankruptcy judges and leading practitioners who will provide you with a thorough review and analysis of hot topics and recent decisions in diverse industries, including energy. They will also cover the Supreme Court’s decisions on jurisdiction and Jevic. The faculty will review recent cases and trends that affect your practice on behalf of debtors, vendors, bondholders, lenders, diverse groups of creditors, hedge funds, committees, labor, and parties to executory contracts, structured finance deals, sales and other transactions and there will be special focus on valuation, gifting, and structured dismissals. Equip yourself with strategies, litigation tactics, and mediation and negotiation skills you can use daily.

This program is designed for a wide range of restructuring, bankruptcy, reorganization and other transactional practitioners, litigators, in-house counsel and others who are involved in restructurings and insolvency cases. A basic knowledge of defaults, the Bankruptcy Code, rules and procedures is necessary. This program will help transactional, litigation, and IP lawyers prepare for and deal with defaults, restructurings, and sales of distressed assets, and experienced lawyers will benefit greatly.

Topics Include

  • Current legal and marketplace developments
  • Wellness Int’l, Stern v. Marshall, Bellingham, and subsequent appellate cases
  • Mediation best practices; arbitration and bankruptcy conflicts
  • Jevic, Radio Shack, Caesar’s, Lehman, General Motors, Madoff, Bayou, Tousa
  • Structured and complex finance developments
  • Corporate governance and the powers and duties of DIPs and of their boards; SPEs; D&O liability, insurance and damage issues — Deepening Insolvency
  • Ethics and civility in practice
  • Controversies on sales of assets free and clear under Sections 363 and 1129 and bid procedures and protections; credit bidding (Fisker et al) - successor liability (General Motors)
  • New developments regarding unsecured and secured claims and types of interest, make whole premiums, Momentive, fee allowance, and labor and pension issues and claims
  • Professional firm bankruptcies - "Unfinished Business" case developments; Heller; Coudert
  • Defenses to voidable preference attacks, including paid and unpaid new value and § 546(e)
  • Fraudulent conveyances, LBOs and safe harbors and conduits; section 546(e), "good faith," valuation issues; in pari delicto and Ponzi issues and defenses - Tribune, Lyondell and Madoff developments
  • Executory contracts, leases and IP transactional issues — § 365(n), structuring, assumption, rejection and “ride-through”; Sunbeam; drafting for success
  • Enforcing intercreditor agreements, subordination, voting, distribution and litigation issues (Momentive)
  • International and cross-border insolvencies, inbound and outbound; Vitro

Special Feature

  • Earn one hour of Ethics credit

PLI Group Discounts

Groups of 4-14 from the same organization, all registering at the same time, for a PLI program scheduled for presentation at the same site, are entitled to receive a group discount. For further discount information, please contact membership@pli.edu or call (800) 260-4PLI.

PLI Can Arrange Group Viewing to Your Firm

Contact the Groupcasts Department via email at groupcasts@pli.edu for more details.

Cancellations

All cancellations received 3 business days prior to the program will be refunded 100%. If you do not cancel within the allotted time period, payment is due in full. You may substitute another individual to attend the program at any time.

Day One: 9:00 a.m. - 5:00 p.m.

9:00 Opening Remarks

Joseph Samet



9:15 Potpourri of Current Market Developments in Chapter 7 and 11 Business Cases –  Energy Future Holdings, Momentive, Caesars, ResCap, Jevic, Madoff, et al. and Mediation

  • Overview of program
  • Legislative winds of change – Code and Rules; key bankruptcy reform issues
  • Amendments to the Federal Rules of Bankruptcy Procedure, forms, and key local rules
  • Marketplace changes and speed of cases; Retail issues
  • Drafting pre-bankruptcy documents for success, preservation of rights and limits; risk management
  • Structured finance developments under §§ 555-562 – credit default swaps; derivatives in bankruptcy – Lehman, Dante, Metavante, Detroit
  • Mediation best practices in bankruptcy cases

Peter Borowitz, Hon. Robert D. Drain, Lewis Kruger, Joseph Samet



10:15 Current Jurisdictional and Procedural Issues – Wellness Int’l, Stern v. Marshall, Madoff, et al.

  • Exclusive and non-exclusive jurisdiction—Wellness Int’l, Stern v. Marshall, Bellingham and progeny; local rules
  • Withdrawal of the reference; abstention, remand and removal; jury trials
  • Appeals to the U.S. District Court, the BAP, and the Circuit Court of Appeals
  • Abstention
  • Remand and removal
  • Litigation in the Bankruptcy and District Courts; class certification
  • Post-confirmation jurisdiction
  • Issues involving enforceability of arbitration clauses; class certification

Hon. Robert D. Drain, Benjamin Rosenblum



11:15 Networking Break

11:30 DIP Financing and Other Lending Issues; First Day Orders                 
  • First day orders; disclosure; local rules
  • DIP financing, first lien, priming and super priority lending
  •  “Loan to Own” strategy
  • Use of cash collateral and surcharge
  • Expense of administration priority for post-petition trade debt
  • Contested issues and mootness; TMT Procurement, Atlas IT Export Corp.

Michael L. Cook



12:30 Lunch

1:45 Acquiring Assets from the Debtor Estate, Corporate Governance and D&O Duties and Liability                                                      
  • Process, procedures and litigation—scope and extent of break-up and topping fees
  • Structuring and negotiating bids; assignment of contracts— G.M., Fisker, RML, and small and medium cases
  • Sales free and clear and grounds for objections—cf. Clear Channel and progeny; restrictive covenants—Heatherwood Holdings
  • Bidding in during a 363 sale and plan confirmation- River Road; Innkeepers; Fisker; Free Lance-Star Publishing; cf. RML Development
  • Successor liability and future claims; GM; Emoral
  • Licenses, trademarks and patents in sales
  • Valuations in sales
  • Hearings, appeals and mootness—GM, Global Energies, New Energy Corp., CW Mining
  • Corporate governance issues and bankruptcy; state and international law; LLCs
  • Liability, insurance and fiduciary duties of officers and directors of insolvent debtors; Lyondell; conflicting deepening insolvency liability and damages law cf. Lemington Homes; Business judgment—Quadrant
  • D & O claims held by the estate and third parties

Kathryn Coleman, Joseph Samet



2:45 The Automatic Stay and Avoiding Powers                             
  • Current cases on scope of stay and exceptions—extraterritoriality (Lyondell); Fairfield
  • Relief from stay; criteria and litigation
  • Standing of creditors and committees to avoid transfers
  • Valuation disputes in stay and avoidance litigation
  • Voidable preferences; the ordinary course, paid and unpaid new value, subsequent advance and earmarking defenses; § 546(e);
  • Fraudulent transfers—Bankruptcy Code Sections 544(b) and 548, UFTA; Madoff, Ponzi cases; Janvey v. Brown; § 546(e); "antecedent debt" and "good faith defenses"; Tousa appellate decisions
(CFE Field of Study: Fraud)

Michael L. Cook



3:45 Networking Break

4:00 Treatment of Claims: Allowance and Priority                                  
  • Labor, severance and employee claims
  • Collective bargaining agreements; American, Hostess; Patriot Coal et al.
  • Class claims and class certification; tort claims; CERCLA; Section 502(d)—KB Toys
  • Oversecured and unsecured creditors' attorney and other professional fees—Ogle v. Fidelity, SNTL

 Richard M. Seltzer



5:00 Adjourn

Day Two: 9:00 a.m. - 4:45 p.m.

9:00 Executory Contracts; Energy Case Issues
  • Current cases; Interstate Bakeries, Sunbeam; cf. Lubrizol; Hostess, Qimonda, Physiotherapy; oil and gas contracts
  • Enforceability, if any, of post-petition performance
  • Leases as disguised security agreements
  • Retroactive lease rejections; landlord claims
  • Treatment of IP, internet license and franchise agreements; §365(n) cases
  • Assumption or rejection (Catapult fallout)

Kyle J. Kimpler



10:00 Intercreditor and Subordination Agreements; Make Whole Premium
  • Intercreditor agreements—recent decisions and pending appeals; current issues; agreements among lenders
  • Make-whole premiums— circuit split regarding voluntary redemptions following automatic acceleration; unmatured interest or liquidated damages; Ultra appeal

Kathryn Coleman, Joseph Samet, My Chi To



11:00 Networking Break

11:15 Cross-Border Insolvencies and Chapter 15 
  • Chapters 11 and 15—Vitro, Fairfield Sentry, Qimonda, et al
  • Concurrent, same entity, cross-border cases
  • Foreign main and non-main proceedings; Section 109 eligibility and the foreign debtor
  • Challenging recognition and enforcing controversial foreign plans; In re Barnet; ABC Learning
  • Current cases

Hon. Allan L. Gropper, Joseph Samet, Lisa M. Schweitzer



12:15 Lunch

1:30 Ethics in Diverse Bankruptcy Practice Areas
  • Ethics on critical issues in Chapter 11 cases, including retentions, conflicts, solicitations, civil behavior and Fee Guidelines
  • Committee, CRO and examiner functions and selection processes, Rule 2019
  • Duties and powers—scope of disclosure to creditors—Refco
  • Compensation; liability and exculpatory provisions for professionals

Lewis Kruger, Michael Richman



2:30 Plan Formulation and Negotiation      
  • Pre-packaged plans, SEC and bankruptcy disclosure rules
  • Lockups and exit financing
  • Classification of claims
  • Structural dismissals, “gifting” and “death trap”; Jevic; DBSD
  • Post-petition interest issues; make whole and prepayment premiums—Energy Future Holdings, Momentive; American Airlines
  • Reinstatement of debt—Charter
  • New value plans—LaSalle and progeny; Castleton Plaza
  • Debt for equity swaps
  • Trust Indenture Act Issues; §316(b) and cases
  • Tax considerations
  • Valuation issues
  • Third-party releases, exculpations, contribution and injunctions; related objections

Martin J. Bienenstock, Rachel C. Strickland



3:30 Networking Break

3:45 Disclosure Statements and Plan Confirmation           
  • Required disclosures, Rule 2019 objections, and Rule 3016
  • Trading claims—DBSD, KB Toys
  • Voting claims—designating claims—DBSD; soliciting votes
  • MAC clauses
  • Objections to confirmation—DBSD, Momentive
  • Appeals and mootness
  • Post-confirmation defaults, litigation and jurisdiction

Martin J. Bienenstock, Rachel C. Strickland



4:45 Adjourn

Chairperson(s)
Joseph Samet ~ Baker & McKenzie LLP (Ret.)
Speaker(s)
Martin J. Bienenstock ~ Proskauer Rose LLP
Peter L. Borowitz ~ Mediator - Partner in Law Firm, Debevoise & Plimpton (Ret.)
Kathryn A. Coleman ~ Hughes Hubbard & Reed LLP
Michael L. Cook ~ Schulte Roth & Zabel LLP
Hon. Robert D. Drain ~ U.S. Bankruptcy Court, Southern District of New York
Hon. Allan L. Gropper ~ Retired Judge, U.S. Bankruptcy Court, Southern District of New York , U.S. Bankruptcy Court Southern District of New York
Kyle J. Kimpler ~ Paul Weiss Rifkind Wharton & Garrison LLP
Lewis Kruger ~ Stroock & Stroock & Lavan LLP
Michael P. Richman ~ Hunton & Williams LLP
Benjamin Rosenblum ~ Jones Day
Lisa M. Schweitzer ~ Cleary Gottlieb Steen & Hamilton LLP
Richard M. Seltzer ~ Cohen Weiss & Simon LLP
Rachel C. Strickland ~ Willkie Farr & Gallagher LLP
My Chi To ~ Debevoise & Plimpton LLP
Program Attorney(s)
Seema Lal Meehan ~ Director, Special Projects and Senior Program Attorney , Practising Law Institute
New Jersey Groupcast Location

New Jersey Institute for Continuing Legal Education, One Constitution Square, New Brunswick, NJ 08901-1520. 732-249-5100.

General credit information about this format appears below. For credit information specific to this program, please choose your jurisdiction(s) in the Credit Information box on the right-hand side of this page.


U.S. MCLE States

Alabama:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Alaska:  All PLI products can fulfill Alaska’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Arizona:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “interactive CLE” credit. There is no limit to the number of credits an attorney can earn via interactive CLE programs.

Arkansas:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

California:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “participatory” credit. There is no limit to the number of credits an attorney can earn via participatory programs.

Colorado:  All PLI products can fulfill Colorado’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Connecticut: Effective January 1, 2017, all PLI products can fulfill Connecticut’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Delaware:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Florida:  All PLI products can fulfill Florida’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Georgia:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Hawaii:  All PLI products can fulfill Hawaii’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Idaho:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Illinois:  All PLI products can fulfill Illinois' CLE requirements for experienced attorneys. There is no limit to the number of credits an attorney can earn via PLI products.

Indiana:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Iowa:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Kansas:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live programs.

Kentucky:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Louisiana:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Maine:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Minnesota:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Mississippi:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “distance learning” credit. Attorneys are limited to 6 credits of distance learning per reporting period.

Missouri:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Montana:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Nebraska:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Nevada:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

New Hampshire:  All PLI products can fulfill New Hampshire’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

New Jersey:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “alternative verifiable learning formats” credit. Attorneys are limited to 12 credits of alternative verifiable learning formats per reporting period.

New Mexico:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

New York

Experienced Attorneys:  All PLI products can fulfill New York’s CLE requirements for experienced attorneys. There is no limit to the number of credits an attorney can earn via PLI products.

Newly Admitted Attorneys:  PLI’s transitional live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) can be used to fulfill the requirements for New York newly admitted attorneys. Ethics credit, professional practice credit, and law practice management credit may be earned via transitional live groupcasts. Skills credits may not be earned via live groupcasts.

North Carolina:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

North Dakota:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Ohio:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Oklahoma:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Oregon:  All PLI products can fulfill Oregon’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Pennsylvania:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Puerto Rico:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Rhode Island:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

South Carolina:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Tennessee:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Texas:  All PLI products can fulfill Texas’ CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Utah:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “self-study” credit. Attorneys are limited to 12 credits of self-study per reporting period.

Vermont:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Virgin Islands:  All PLI products can fulfill the Virgin Islands’ CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Virginia:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live interactive” credit. There is no limit to the number of credits an attorney can earn via live interactive programs.

Washington:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

West Virginia:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Wisconsin:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Wyoming:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.


CPD Jurisdictions

British Columbia (CPD-BC):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “real-time” credit. There is no limit to the number of credits an attorney can earn via real-time programs.

Ontario (CPD-ON):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “interactive” credit. There is no limit to the number of credits an attorney can earn via interactive programs.

Quebec (CPD-QC):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) can fulfill Quebec’s CPD requirements.

Hong Kong (CPD-HK):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of points an attorney can earn via live groupcasts.

United Kingdom (CPD-UK):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) can fulfill the United Kingdom’s CPD requirements.

Australia (CPD-AUS):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) may fulfill Australia’s CPD requirements. Credit limits for live groupcasts vary according to jurisdiction. Please refer to your jurisdiction’s CPD information page for specifics.


Other Credit Types

CPE Credit (NASBA):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “Group-Live delivery” credit.

IRS Continuing Education (IRS-CE):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) may fulfill IRS-CE requirements. To request IRS-CE credit, please notify PLI at plicredits@pli.edu of your request and include your Preparer Tax Identification Number (PTIN).

Certified Fraud Examiner CPE:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) may fulfill Certified Fraud Examiner CPE requirements. To request CPE credit or find out which programs offer CPE, please contact PLI at plicredits@pli.edu.

IAPP Continuing Privacy Credit (CPE):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) may fulfill Privacy CPE credit requirements.

HR Recertification (HRCI):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) may fulfill HR credit requirements.

SHRM Recertification (SHRM):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as "instructor-led" credit. There is no limit to the number of credits an SHRM professional can earn via instructor-led programs.

Compliance Certification Board (CCB):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” training events. There is no limit to the number of credits a candidate or certification holder can earn via live groupcasts.

Certified Anti-Money Laundering Specialists (CAMS):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) may fulfill CAMS credit requirements.

New York State Social Worker Continuing Education (SW CPE):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) may fulfill SW CPE credit requirements.

American Bankers Association Professional Certification (ABA):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) may fulfill ABA credit requirements.

Certified Financial Planners (CFP):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) may fulfill CFP credit requirements.

 

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