The ABI Northeast Bankruptcy Conference and the Northeast Consumer Forum, held at the Ocean Edge Resort in Brewster, MA, included a great lineup of hot topics and speakers. Over 400 attended the conferences and enjoyed a variety of programming on topics including cross-border issues, advocacy skills, a BAPCPA update, the mortgage crisis, hot topics in claims purchasing, and more!
One of these great panels, "Gaining Support From All Of Your Constituencies," discussed legal and practical issues that must be considered when dealing with the numerous parties involved in a bankruptcy, including the pros and cons of using local professionals and how to identify and respond to the factors that motivate these parties. Thomas O. Bean of McDermott Will & Emery, LLP in Boston, moderated the panel which included Hon. Judith K. Fitzgerald, U.S. Bankruptcy Court, Western District of Pennsylvania, Martha E.M. Kopacz of Grant Thornton LLP in New York and Daniel J. Callaghan of Devine Millimet & Branch in Manchester, NH. Included in the materials was a paper by Mr. Bean and Peter M. Acton, both of McDermott Will & Emery, LLP, which focuses on working with government agencies in chapter 11 cases. Click below to review the paper.
Gaining the Government's Support in Bankruptcy Cases - Thomas O. Bean and Peter M. Acton (pdf)
The ABI recently concluded the 13th Annual Southeast Bankruptcy Workshop, held again at the stunning Ritz-Carlton, Amelia Island, FL. Over 300 attendees enjoyed some Southern hospitality and a great lineup of CLE sessions. Several of the sessions included information of interest to business reorganization professionals. See below for session summaries and relevant materials.
The panel for the first session, "Adequate Protection In Chapter 11 and Chapter 13 Cases," focused on key adequate protection issues and was moderated by Paul Orshan of Paul L. Orshan, PA in Miami, and included panelists Hon. Robert A. Mark, U.S. Bankruptcy Court, Southern District of Florida, Peter D. Russin of Meland Russin & Budwick, PA in Miami and Mark P. Williams of Norman, Wood, Kendrick & Turner of Birmingham, AL. Included in the materials was an interesting paper by Mr. Russin and Richard S. Lubliner, both of Meland Russin & Budwick, PA, entitled Selected Chapter 11 Adequate Protection Issues. Click the link below to review the paper.
Selected Chapter 11 Adequate Protection Issues – Peter D. Russin & Richard S. Lubliner (pdf)
The Friday morning plenary session "Business Bankruptcy Update," covered a number of topics including Rule 6003-Employing CROs, Section 1104-Appointment of chapter 11 trustees, and new KERP provisions, among others. Presenting the update was Susan H. Seabury of BDO Seidman, LLP in Atlanta, Prof. Jack F. Williams, ABI Resident Scholar, and Hon. Michael G. Williamson, U.S. Bankruptcy Court, Middle District of Florida. Click below to review the materials from the session.
Business Bankruptcy Update Materials (pdf)
The panel for the conference's second plenary session, "Subprime Fallout," reviewed the progression of the subprime crisis, discussed key current issues, and looked ahead to emerging challenges. Jonathan W. Jordan of King & Spalding LLP in Atlanta moderated the panel which included Joseph Blaylock of Navigant Consulting in New York, Prof. Anthony Sanders of Arizona State University's W.P. Carey School of Business in Tempe, AZ, Dr. Faten Sabry of NERA Economic Consulting in New York and Jason H. Watson of Alston & Bird LLP in Atlanta. The paper below by Mr. Jordan follows the early casualties of the subprime crisis and seeks to use this experience as a roadmap for future industries that go through the restructuring and bankruptcy process.
A Farewell to ARMs: Bankruptcy Lessons from the Subprime Origination Meltdown - Jonathan W. Jordan (pdf)
The American Bankruptcy Institute Law Review, published twice a year by Thomson West, is among the most respected scholarly publications in the bankruptcy community. Free to ABI members, the ABI Law Review has the largest circulation of any bankruptcy law review. The Law Review is edited by top students at St. John's University School of Law under the direction of Prof. G. Ray Warner, an ABI director, former member of the ABI Executive Committee and the director of the LL.M. program at St. John's. The Spring 2008 issue contains seven articles and one LL.M. thesis on topics such as due process and nationwide service, trends in distressed debt investing, wage priorities in bankruptcy, valuation practice and Daubert, Delaware's "irrelevance," consumers' post-discharge finances and non-assignable contracts in bankruptcy.
Of particular interest to the committee is the article entitled "Report to the American Bankruptcy Institute: Prevalence of Substantive Consolidation in Large Public Company Bankruptcies from 2000 to 2005," written by William H. Widen, a professor at the University of Miami School of Law. His report highlights the importance of the substantive consolidation doctrine to large public company bankruptcies, pointing out that it is hard to gage the doctrine's significance based merely upon published opinions, which often do not approve the procedure. The report measures the extent to which large public company reorganizations use the procedure and the degree to which negotiations take place in the shadow of the doctrine. The report reveals that the substantive consolidation "technique" is dominant in large public company bankruptcies. Please click below to read the full article.
Prevalence Of Substantive Consolidation In Large Public Company Bankruptcies From 2000 to 2005 - William H. Widen (pdf)
Currently, the Listserve Moderator position is available. Please contact one of your co-chairs to express your interest. Serving on a committee is the first step toward a greater leadership role in the association, in addition to providing excellent business development opportunities through member contact. For complete descriptions of each position click here.
