| |
| |
| vol 17, num 2 | August 2021 |
| |
|
|
| |
|
|
|
|
|
| |
| Committee Happenings |
| During the Annual Spring Meeting, our committee partnered with the International Committee and hosted a fascinating panel titled Insolvencies of Cannabis-Producers and Their Cross-Border Implications. Perkins Coie generously sponsored the panel, which featured Patrick Shea, Gavin Finlayson, Keri Riley and Vanessa Allen as speakers.
The panel reviewed the regulatory environment both in Canada and the U.S. and explored the legal challenges that a cannabis company may face when in need of a liquidation or reorganization. The panelists also engaged in a lively debate on creative cross-border solutions, including the possibility of using chapter 15 and exploring the aspects (and pitfalls) of using a receivership vehicle versus an assignment for the benefit of creditors. Special thanks go to Patrick Shea with Gowling WLG in Toronto for moderating the panel, for fielding several questions from the attendees, and for having the most notable Zoom background. By all accounts, the session was very well attended and produced an engaging chat discussion throughout the panel.
Our committee is already looking ahead to the Winter Leadership Conference, set for December 9-11, 2021, in Rancho Palos Verdes, Calif., where we will partner with the Ethics Committee to discuss a fascinating topic that every practitioner should watch. Details will follow in the coming months, along with the rest of the agenda, so stay tuned! |
| |
|
|
|
|
| |
|
| |
| Former Cred Inc. Executive Held in Contempt for Violating Bankruptcy Court Order in Furtherance of Cryptotracing Effort |
| Readers of this newsletter will note our regular interest in the chapter 11 proceedings of Cred Inc. and its affiliates. In March 2021, we reported on the confirmation of a liquidating plan in the Cred bankruptcy cases — a milestone that represented “the first instance where a major U.S.-based cryptocurrency operation sought relief and eventually confirmed a plan under chapter 11.” At the time, we noted that notwithstanding confirmation of the liquidating plan, many matters in the Cred bankruptcy cases remained unresolved, including potential criminal and civil claims against the company’s former management. |
| |
|
|
|
|
| |
|
| |
| Privilege in the Hands of Estate Fiduciaries, and Not Former Executives |
| A recent decision in the criminal case against the founder of a now-defunct-but-once-cutting-edge life science start-up affirmed that corporate attorney/client privilege lies in the hands of estate fiduciaries, not the company or its executives. The decision should also serve as a reminder to executives that to ensure that their communications remain privileged, they should delineate their personal interests in contrast to those of their company.
Background on Theranos and Elizabeth Holmes
Elizabeth Holmes was the founder and chief executive officer of Theranos, Inc., a once-promising health technology company that offered rapid pinprick blood testing. At its peak, Theranos was valued at $9 billion.
|
| |
|
|
|
|
| |
|
| |
| ABI's "Industry Viewpoints" |
| Want to learn more about the different industries that bankruptcy affects?
ABI’s got you covered! Check out our “Industry Viewpoints” video series, featuring ABI Editor-at-Large Bill Rochelle discussing various industries with prominent bankruptcy professionals. The first four conversations have been previously posted on our social media platforms (Facebook, Twitter, LinkedIn and YouTube).
Make sure to check out Bill’s most recent conversation with Scott A. Wolfson of Wolfson Bolton PLLC (Troy, Mich.) on the auto industry.
|
|
|
| Previous guests of “#IndustryViewpoints” have included:
Be sure to view the ABI YouTube Channel and follow ABI on social media (twitter.abi.org, facebook.abi.org or linked.abi.org) to be notified of upcoming episodes!
|
| |
| |
|
|
|
|
|
|
|
|
|
| |
