Materials From The 2008 New York City Bankruptcy Conference
The 10th Annual New York City Bankruptcy Conference, held May 12, featured a great mix of hot topics in bankruptcy including subprime issues, the ABI fee study, rights offerings, the changing players in chapter 11, and more. One such session, "Hot Topics in Financings and Asset Dispositions," discussed developments in financing, the use of PIK and toggle provisions, the treatment of make-whole and noncall provisions and the implications of the Piccadilly Cafeterias case. Michael Luskin of Luskin, Stern & Eisler LLP moderated the panel which included William Q. Derrough of Jefferies & Company, Inc., Marcia L. Goldstein of Weil, Gotshal & Manges LLP, Hon. Allan L. Gropper, U.S. Bankruptcy Court, Southern District of New York and Brian Trust of Mayer Brown LLP. The materials included a paper written by Ms. Goldstein and John W. Lucas, both of Weil, Gotshal & Manges LLP, entitled "Single Asset Real Estate - Bankruptcy & Recent Developments," which gives a brief overview on the topic and summarizes recent case law.
Single Asset Real Estate-Bankruptcy & Recent Developments - Marcia L. Goldstein and John W. Lucas (pdf)
Materials From The 2008 Northeast Bankruptcy Conference
The ABI Northeast Bankruptcy Conference and the Northeast Consumer Forum, held at the Ocean Edge Resort in Brewster, MA, included another 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! Below are summaries and materials from two particular sessions of interest, "Current Issues In Commercial Leasing" and "Avoiding Administrative Insolvency."
The panel on "Current Issues In Commercial Leasing" explored an array of issues, including the split of authority as to the limits of a commercial landlord's claim for damages, the impact of letters of credit and third party sources of recovery in bankruptcy, how BAPCPA's limitations on lease assumption have affected retail chapter 11 cases, and the treatment of claims for the rejection of previously assumed leases under section 503(b)(7). Michael J. Goldberg of Cohn, Whitesell & Goldberg LLP in Boston moderated the panel which included Paul W. Carey of Mirick O'Connell DeMallie & Lougee, LLP in Worcester, MA, Andy Graiser of DJM Realty LLC in Melville, NY, and Hon. Brian K. Tester, U.S. Bankruptcy Court, District of Puerto Rico. Below are links to several of the materials written by members of the panel. Click on the links below to review the materials.
El Toro Has Debtors Seeing Red - Michael J. Goldberg and Christopher M. Candon (pdf)
Assumption In Part? The Impact Of Master Leases On The Assumption and Rejection Of Leases - Paul W. Carey (pdf)
Lease Recharacterization In Bankruptcy: Finding A Way Around Section 365 – Paul W. Carey (pdf)
The panel on "Avoiding Administrative Insolvency" discussed current developments in case law concerning the competing roles and duties of parties in interest in chapter 11 cases where the estate's available unencumbered assets are insufficient to pay administrative claims in full. Adrienne Walker of Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC in Boston moderated the panel that included John P. Fitzgerald from the U.S. Trustee's Office in Boston, Hon. Robert E. Gerber, U.S. Bankruptcy Court, Southern District of New York, and Pamela Harbeson of Looney & Grossman LLP in Boston. The materials from the session included a paper by Ms. Harbeson entitled Selected Issues In Administrative Insolvency, which includes a section regarding the issue of whether commercial landlords are entitled to super priority administrative claims.
Selected issues in administrative insolvency - Pamela A. Harbeson, Esq. (pdf)
