Section 503(b)(9) of the Bankruptcy Code added by BAPCPA[1] provides administrative priority status for “the value of any goods received by the debtor within 20 days” of the petition date that were “sold to the debtor in the ordinary course of such debtor’s business.” (hereinafter referred to as “Twenty-Day Claims”). Already this provision has raised controversial issues, such as how to define “value” for purposes of the statute, how to define “goods” and determine when they are “received,” what constitutes the “ordinary course of the debtor’s business,” when the Twenty-Day Claims have to be filed, and when they are to be paid. For preference litigants, another critical issue is what effect will the expanded administrative status for Twenty-Day Claims have on the subsequent new value defense?[2]
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ABI's 28th Annual Spring Meeting will be held April 29-May 2 at the expansive Gaylord National Resort and Convention Center, just moments from Washington, D.C. Nestled in a harbor on the banks of the Potomac with views of our Nation's Capitol, this hotel offers the best in the meetings industry with high-end guest rooms, fine and casual dining and a spa. Several of the sessions will be of great interest to the committee.
The great debate, "Resolved: Too Big to Fail - Federal Resolution Authority should replace bankruptcy for failing businesses that pose 'systematic risk,'" will present arguments for and against using resolution authority as an alternative to chapter 11. James T. Markus of Markus Williams Young & Zimmerman LLC in Denver will moderate the debate. Prof. Adam J. Levitin of Georgetown University Law Center in Washington, D.C. will argue in favor of resolution authority and Prof. Juliet M. Moringiello, ABI Robert M. Zinman Resident Scholar from the Widener University School of Law in Harrisburg, Pa. will argue against. Please click the link below to view the materials.
Resolved: Too Big to Fail - Federal Resolution Authority should replace bankruptcy for failing businesses that pose "systematic risk"
Participants in the great debate "Resolved: Congress should eliminate the special BAPCPA protections for lessors and providers of goods" will debate whether certain provisions in BAPCPA should be rolled back to better accomodate retail reorganizations. Lawrence C. Gottlieb of Cooley Godward Kronish LLP in New York will argue in favor of rolling back provisions and Bruce S. Nathan of Lowenstein Sandler PC in New York will argue against. James T. Markus of Markus Williams Young & Zimmerman LLC in Denver will moderate. Please click the links below to view the panelists' materials.
Restructuing The Bankruptcy Code: Remedying BAPCPA's Retail Missteps
BAPCPA Rollback As A Cure For Unsuccessful Reorganizations? Not So Fast!
Case Law Developments On Critical BAPCPA Provisions
The session "Bankruptcy Transformed: Are Reorganizations a Thing of the Past?" will explore the recent trend in chapter 11 cases to liquidate companies instead of reorganizing them. Panelists will include Marc Liebman of Alvarez & Marsal in Phoenix, Keith J. Shapiro of Greenberg Traurig LLP in Chicago and Paul S. Singerman of Berger Singerman PA in Miami. Lorie R. Beers of Seabury Group LLC in New York will moderate. Please click the link below to view the materials.
Bankruptcy Transformed: Are Reorganizations a Thing of the Past?
Panelists in the session "Prearranged Bankruptcy Plans, Class-Skipping, Creditor Classification and Other Plan Confirmation Issues" will discuss how difficult it is to appease any one group of constituents without hurting another when confirming a chapter 11. Mark E. Andrews of Cox Smith Matthews Incorporated in San Antonio will moderate. Panelists will include Lisa G. Beckerman of Akin Gump Strauss Hauer & Feld LLP in New York, James S. Carr of Kelly Drye LLP in New York, Larry Lattig of Mesirow Financial Consulting LLC in Dallas and Hon. Brendan L. Shannon of the U.S. Bankruptcy Court in Wilmington, Del. Please click the link below to view the materials.
Lockups, Deathtraps and the Gifting Doctrine: A Discussion of Plan Confirmation Issues
Panelists in the session "Small Business Bankruptcies: Getting Them Through the Process" will discuss differences in filing a small business chapter 11 post-BAPCPA. Panelists will include Hon. Elizabeth E. Brown of the U.S. Bankruptcy Court in Denver, Franklind Davis Lea of Tactical Financial Consulting, LLC in Alpharetta, Ga. and Lenard E. Schwartzer of Schwartzer & McPherson in Las Vegas. Faye Knowles of Fredrickson & Byron in Minneapolis will moderate. Please click the link below to view the materials.
The Small Business In Chapter 11 After BAPCPA
The Business Reorganization committee will partner with the Ethics committee to present a session entitled "Directors of Insolvent or Near Insolvent Companies: Do the Duties Shift, or Is It Just the Recent Case Law that Has Been Shifting?" Panelists will discuss the duties of the board of directors in an insolvent or nearly insolvent company both before and after filing bankruptcy as well as corresponding case law. Prof. David A. Skeel of the University of Pennsylvania Law School in Philadelphia will moderate. Panelists will include Martin J. Bienenstock of Dewey & LeBoeuf LLP in New York, Anthony Grillo of American Securities Advisors, LLC in New York and Louis E. Kempinsky of Peitzman, Weg & Kempinsky LLP in Los Angeles. Please click below to view the materials.
Advising Directors of Insolvent and Near Insolvent Companies
