vol 18, num 1 | March 2020
 
 
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Young & New Members
 
AN ABI COMMITTEE NEWSLETTER
 
Visit the Young & New Members Committee page
 
 
► IN this issue:
 
 
 
Young & New Members Committee Annual Report
Brendan Gage
 
Brendan Gage
Paul Hastings LLP
Chicago
 
Evan T. Miller
 
Evan T. Miller
Bayard, P.A.
Wilmington, Del.
 
 

At ABI's Annual Spring Meeting in April 2019, the committee hosted a panel that discussed the ins and outs of choosing a venue in which to file, including circuit splits on pertinent areas of law, variations in local rules, and the amorphous “comfort” level that some practitioners have with some jurisdictions over others.

During the Winter Leadership Conference last December, our panel, "Recent Trends in the Credit Bidding of Assets and Cross-Border Issues," focused on credit bidding in chapter 11 cases, as well as on recent decisions and limitations courts have applied to a secured creditor’s right to credit bid in bankruptcy cases. 

In addition to this excellent programming, committee volunteers submitted a dozen original articles that were published in our e-newsletter in 2019. Interested in writing for the newsletter? Touch base with one of our Newsletter Editors, Prof. Laura Napoli Coordes of Arizona State College of Law or Christina Sanfelippo of Fox Rothschild, to coordinate your submission.

 
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Shifting Tides: Missing the Deadline to Object to the Discharge of Debt
Jacqueline Pham
 
Jacqueline Pham
Hughes Watters Askanase LLP
Houston
 
 
Imagine this scenario: A judgment is won, the defendant filed for bankruptcy, but the judgment creditor missed the deadline to file a complaint objecting to the discharge of the debt. Normally, this means that the judgment will be discharged unless the court is convinced to accept a late-filed complaint. This is a high hurdle typically requiring the creditor to raise a constitutional issue of fraud by the debtor.

Yet two recent decisions might provide an alternative argument to creditors. Courts may now accept a late-filed complaint if the debtor was put on notice of the creditor’s intent to object to the discharge of the debt prior to the deadline expiring. These decisions expand the previously restrictive use of the relation-back doctrine to something much broader, and may signal a departure from the traditional adherence to strict deadlines.

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A Somewhat Formal Introduction to Informal Proofs of Claim
Daniel E. Vaknin
 
Daniel E. Vaknin
Macdonald Fernandez LLP
San Francisco
 
 
The Bankruptcy Code addresses competing claims of creditors against the assets of a debtor. Indeed, Congress crafted the far-reaching definition of “claim,” as the legislative history shows, to ensure that “all legal obligations of the debtor, no matter how remote or contingent, will be able to be dealt with in the bankruptcy case.” For a creditor to participate in the distribution of a bankruptcy case, it must have an allowable claim, which, generally speaking, requires filing a proof of claim by a specified deadline.

The failure to timely file a proof of claim has serious consequences. Under § 502(b)(9) of the Bankruptcy Code, an untimely filed proof of claim is a ground for the disallowance of that claim except to the degree permitted under § 726(a)(1), (2) or (3) of the Bankruptcy Code or the Federal Rules of Bankruptcy Procedure.

 
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Annual Spring Meeting Registration is Now Open!
Join the Young & New Members Committee April 23-25 in Washington, D.C., at ABI's Annual Spring Meeting — one of the biggest insolvency events of the year! Mix professional development and networking at a variety of timely educational sessions, networking events and optional programs — all in the heart of our nation's capital.

This year, the committee will be pairing with the Bankruptcy Litigation Committee to host a session titled, "Litigating Against Directors and Officers in Bankruptcy."

Speakers for this session include:
  • Alicia Bendana - Lowe, Stein, Hoffman, Allweiss & Hauver LLP; New Orleans
  • Vincent Lazar - Jenner & Block; Chicago
  • Leo Oppenheimer - Reid Collins & Tsai LLP; Dallas
  • Shane Ramsey - Nelson Mullins Riley & Scarborough, LLP; Nashville, Tenn.
 
REGISTER TODAY
 
 
 
 
ABI Annual Spring Meeting
 
 
 
New York City Bankruptcy Conference
 
 
 
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