Thursday, May 28
7:30 a.m.
Registration Desk Open
8:00- 8:30 a.m.
Continental Breakfast
8:30-8:45 a.m.
Conference Chairs’ Welcome
8:45-10:00 a.m.
Plenary Session
Judges’ Roundtable: Selected Current Topics
10:00-10:15 a.m.
Refreshment Break
10:15-11:30 a.m.
Concurrent Sessions (6)
Cross-Border Bankruptcy Issues
The panelists will discuss European loan structure developments, including but not limited to a shift in European loan structures to U.S. debt instruments, how these credits will be restructured, whether the existing tools in Europe will work for bond issuers and more. Brexit’s impact on recognition proceedings, as well as COMI-shifting and jurisdiction issues, will also be covered.
Ira L. Herman, Moderator
Blank Rome LLP
Ryan Preston Dahl
Weil, Gotshal & Manges LLP
Douglas E. Deutsch
Clifford Chance
Evan C. Hollander
Orrick Herrington & Sutcliffe LLP
David Hilty
Houlihan Lokey
Rick Morris
HPS Investment Partners, LLC
Maja Zerjal
Proskauer
Recent Confirmation Developments
Join this session for a discussion on plan vs. statutory impairment (Ultra, PG&E), treatment of third-party releases/plan proponents (Millennium (3d Cir.), SunEdison and other recent S.D.N.Y./Del. decisions, Emerge and Cloud Peak (Del.)), and classification (Novinda (10th Cir. BAP, litigation claims against a creditor justifies separate classification from other unsecureds)). Should all similarly situated creditors have the right to participate in rights offerings, financings, etc. (PacDrilling, Peabody)? Panelists will also discuss feasibility in light of the return of debtors to bankruptcy (including in the energy and retail space). Are reorganizations being rubber-stamped too easily?
Edward S. Weisfelner, Moderator
Brown Rudnick LLP
Robert D. Gordon
Jenner & Block
Nicole L. Greenblatt
Kirkland & Ellis LLP
Fred B. Ringel
Robinson Brog Leinwand Greene Genovese & Gluck, P.C.
Roopesh Shah
Evercore
Andrew D. Sorkin
Latham & Watkins
Robin Spigel
Baker Botts L.L.P.
Trends in DIP Financing
This panel will discuss financing orders, milestones and other case management through the DIP facility. What should be allowed for case management by secured creditors via DIP-financing and/or cash-collateral orders, including the case milestones? What terms are and should be acceptable in first-day cash-collateral and DIP-financing orders (Aegean) — too much control, or simply adequate protection? What does it take for a third party to prime? This session will also focus on structural priming, including by taking liens on unencumbered foreign assets (Hexion); using DIP financing as a tool to protect pre-petition debt; the use of roll-ups; the ratio of new money to roll up that is necessary/“market”; justifying a zero-new-money roll-up (EP Energy); providing a secured term loan pre-bankruptcy and using the proceeds as cash collateral; and rolling up pre-filing emergency loans (Westmoreland).
Kathryn A. Coleman, Moderator
Hughes Hubbard & Reed LLP
Alexander V. Rohan
B. Riley FBR, Inc.
Jorian L. Rose
BakerHostetler
Andrew V. Tenzer
Paul Hastings LLP
Brian Trust
Mayer Brown LLP
Robert White
Jefferies
Corporate Governance in Distressed Situations
The panelists will discuss different strategies sponsors are using to retain control (or at least put a stake through) the bankruptcy process. What are the risks to sponsors/litigation issues? The panelists will also discuss fiduciary duties, managing conflicts and retaining separate counsel, the interplay between corporate governance and aggressive sponsor action (e.g., selling or spinning/stripping off assets), sponsor affiliates purchasing debt in the portfolio company’s capital structure, and 10b-5 compliance, as well as negotiating/litigating with a difficult board. This session also includes a discussion of issues that arise when dealing with a challenging board of directors, especially those where some or all directors have been appointed by a controlling shareholder.
Michael H. Torkin, Moderator
Simpson Thacher & Bartlett LLP
Hon. Melanie L. Cyganowski (ret.)
Otterbourg P.C.
Scott J. Greenberg
Gibson, Dunn & Crutcher LLP
Daniel B. Kamensky
Marble Ridge Capital LLP
Marc D. Puntus
Centerview Partners LLC
Albert J. Togut
Togut, Segal & Segal LLP
§ 363 Sale Issues
Are there limits to “free and clear” (GM)? This panel will discuss sales free and clear of leasehold interests, restrictive covenants and override royalties; conflicts between §§ 365 and 363(f) (lease- or license-stripping); assets free and clear of successorship in CBAs; selling free and clear of environmental liabilities (La Paloma, Exide); loan-to-own strategies; and the treatment of breakup fees (C&K Market, EFH).
Lisa M. Schweitzer, Moderator
Cleary Gottlieb Steen & Hamilton LLP
Robert Albergotti
AlixPartners, LLP
Samuel S. Kohn
Norton Rose Fulbright US LLP
Paul D. Leake
Skadden, Arps, Slate, Meagher & Flom LLP
Richard G. Mason
Wachtell, Lipton, Rosen & Katz
Michael O’Hara
PJT Partners Inc.
William P. Weintraub
Goodwin Procter LLP
Liquidating Plans
What do attorneys and other professionals need to know when preparing chapter 11 liquidation plans? This panel will include discussions on selecting a trust, LLC, plan administrator or other vehicle; ensuring that affirmative claims are preserved post-confirmation; searching for unencumbered assets; negotiating carve-outs; establishing a value/tax basis in litigation claims and other assets transferred to a trust or LLC; key plan provisions, such as preserving 2004 discovery rights, creditor oversight, continuing court oversight, required reporting and retention/transfer of attorney/client privilege; trading of interests; provisions for closing the case; and structured dismissals following asset sales as an alternative to a liquidating plan.
Jeffrey S. Sabin, Moderator
Venable LLP
Michael Baumkirchner
Ankura Consulting Group, LLC
Kenneth Epstein
Omni Bridgeway
Jonathan L. Flaxer
Golenbock Eiseman Assor Bell & Peskoe LLP
Christopher J. Kearns
Berkeley Research Group, LLC
Daniel A. Lowenthal
Patterson Belknap Webb & Tyler LLP
Rachel C. Strickland
Willkie Farr & Gallagher LLP
11:30-11:45 a.m.
Refreshment Break
11:45 a.m.-1:00 p.m.
Repeat Concurrent Sessions (6)
Cross-Border Bankruptcy Issues
Recent Confirmation Developments
Trends in DIP Financing
Corporate Governance in Distressed Situations
§ 363 Sale Issues
Liquidating Plans
1:00-1:30 p.m.
Buffet Lunch
1:30-2:30 p.m.
Plenary Session
The Opioid Crisis
The Nation is in the midst of an unprecedented opioid epidemic. More than 130 people die every day from opioid-related drug overdoses. The legal battle over who’s at fault will be fought for a very long time. At least two significant chapter 11 filings have occurred with potentially more to come. Developments in these bankruptcy cases will have a significant impact on the development of crucial public health initiatives seeking to address the crisis as well as wide-ranging implications for future mass tort situations. A panel of participants in these situations will discuss legal, social and political implications of these cases.
Hon. Kevin J. Carey (ret.)
Hogan Lovells US LLP; Philadelphia, PA
Lara Fogel
Deputy Attorney General; New Jersey
Hon. Kevin Gross
Chief Judge; U.S. Bankruptcy Court (D. Del.); Wilmington
David Molton
Brown Rudnick
Arik Preis
Akin Gump Strauss Hauer & Feld LLP
Andrew Troop
Pillsbury Winthrop Shaw Pittman LLP
2:45-4:00 p.m.
Concurrent Sessions (6)
Bankruptcy Litigation Panel
The panelists will tackle jurisdictional issues in Relativity; debt recharacterization, circuit splits and the Supreme Court’s withdrawal of certiorari in PEM v. Levin; avoidance actions and the application of avoidance powers extraterritorially (Ampal-American, Emerald, Madoff, Puerto Rico); fraudulent transfers; the trustee’s use of the IRS look-back for fraudulent transfers; Lyondell (reinstatement of unsecured creditors’ intentional fraudulent-conveyance claim, ruling that the intent of the CEO can be imputed to the company); § 546(e) safe harbors (Tribune (2d Cir.)); discovery in bankruptcy courts; and venue selection.
Susheel Kirpalani, Moderator
Quinn Emanuel Urquhart & Sullivan, LLP
Robert J. Feinstein
Pachulski Stang Ziehl & Jones
David MacGreevey
AlixPartners, LLP
Alec P. Ostrow
Becker, Glynn, Muffly, Chassin & Hosinski LLP
Barbra R. Parlin
Holland & Knight LLP
Andrew Scruton
FTI Consulting, Inc.
Valuation Developments and Disputes: Where Are We Now?
This panel will discuss common valuation challenges and responses, and provide insight into piecing together multiple valuation techniques. The panelists will also touch upon identifying reasonable comps for similar companies and precedent transactions, reliance on/restating projections, and where valuation and liquidation analysis blend together, including non-cash-flowing assets.
Madlyn Gleich Primoff, Moderator
Freshfields Bruckhaus Deringer LLP
Philip Bentley
Kramer Levin Naftalis & Frankel LLP
Eric B. Fisher
Binder & Schwartz LLP
David M. Posner
Kilpatrick Townsend & Stockton LLP
Dr. Faten Sabry
NERA Economic Consulting
Christopher K. Wu
Teneo
Liquidation Outside Chapter 11: Considerations for Cannabis Insolvencies
This panel will compare and contrast liquidating chapter 11 plans and certain state receiverships, ABCs and judicial dissolutions, and will discuss the tools available in and the risks attendant to each, as well as which companies are more appropriate for which type of liquidation option.
Gerard DiConza, Moderator
Archer & Greiner
William A. Brandt
Development Specialists, Inc.
Frank Grese
Baker & McKenzie LLP
Marc Hirschfield
Royer Cooper Cohen Braunfeld LLC
Post-Restructuring
This panel will discuss the disposition of restructured equity, including § 1145 and other limitations and exemptions; selecting and managing post-restructured boards and how to assemble a new board with a view toward maximizing value; issues attendant to the recruitment of pertinent and qualified directors; departures from rent-a-director; use of independent directors on a new board; granting of observer rights; perspectives of being a member of a well-run post-restructured board; shareholder voting and control considerations, including minority rights; incentivizing management through MIPs, KEIPs/KERPs and employment agreement considerations (e.g., CoC/severance); fostering long-term shareholder value; antitrust issues; and public vs. private emergence.
Paul H. Zumbro, Moderator
Cravath, Swaine & Moore LLP
Lisa G. Beckerman
Akin Gump Strauss Hauer & Feld LLP
Kristopher M. Hansen
Stroock & Stroock & Lavan LLP
William H. Henrich
Getzler Henrich & Associates LLC
Intercreditor Disputes
This session will examine what happens following a successful credit bid (Allied), including the scope of § 363 sale orders and whether they should or can address intercreditor issues; intercreditor agreements and the application of post-petition interest (EFH); equal and ratable lien-trigger clauses (iHeart); de facto claim subordination (La Paloma); and the rights preserved for junior creditors under intercreditor agreements, and whether the exceptions swallow the rule (Claires, Momentive).
Brian M. Resnick, Moderator
Davis Polk & Wardwell LLP
Dennis F. Dunne
Milbank LLP
Marc J. Heimowitz
Coda Advisory Group LLC
Michael Luskin
Luskin, Stern & Eisler LLP
J. Soren Reynertson
GLC Advisors & Co.
Glenn E. Siegel
Morgan, Lewis & Bockius LLP
Arthur J. Steinberg
King & Spalding LLP
Ethics Panel
Join the panelists in this discussion on a plethora of current ethical issues, including disclosure obligations as a retained advisor (Alix v. McKinsey); obtaining a conflict waiver and the disinterestedness standards of debtor’s counsel (Caesars); use of confidential information as a party in interest, including MNPI and trading and disclosure issues (e.g., appropriateness of filing under seal vs. reconciling differing cleansing demands of debt-holders); compensation of professionals (Baker Botts v. ASARCO); fee-litigation; a recent Ninth Circuit decision on the potential implications of exceeding fee caps; directly adverse vs. positionally adverse; relatedness to a prior matter; ABI’s Report on Standards of Professional Courtesy and Conduct; and litigation financing in the liquidating trust context.
John D. Penn, Moderator
Perkins Coie LLP
Christopher R. Donoho
Hogan Lovells US LLP
Jonathan E. Goldin
Goldin Associates, LLC
Abbey Walsh
Schulte Roth & Zabel LLP
4:00-4:15 p.m.
Refreshment Break
4:15-5:30 p.m.
Repeat Concurrent Sessions (6)
Bankruptcy Litigation Panel
Valuation Developments and Disputes: Where Are We Now?
Liquidation Outside Chapter 11: Considerations for Cannabis Insolvencies
Gerard DiConza, Moderator
Archer & Greiner
Peter Hartheimer
Sherwood Partners, Inc.
Jennifer Rodburg
Fried, Frank, Harris, Shriver & Jacobson LLP
Suzanne Uhland
O’Melveny & Myers LLP
Post-Restructuring
Paul H. Zumbro, Moderator
Cravath, Swaine & Moore LLP
Michael Epstein
Deloitte CRG
Brett H. Miller
Morrison & Foerster LLP
Steven A. Seiden
Seiden Krieger Recuiters, Inc.
Intercreditor Disputes
Ethics Panel
John D. Penn, Moderator
Perkins Coie LLP
Jasmine Ball
Debevoise & Plimpton LLP
Edward E. Neiger
ASK LLP
5:30-7:00 p.m.
Networking Reception
Conference Chairs
Hon. Sean H. Lane, Judicial Chair
U.S. Bankruptcy Court (S.D.N.Y.)
Sandeep Qusba, Co-Chair
Simpson Thacher & Bartlett LLP
Leon Szlezinger, Co-Chair
Jefferies
Conference Advisory Board
Elizabeth Abrams
Guggenheim Partners
Jasmine Ball
Debevoise & Plimpton LLP
Lisa G. Beckerman
Akin Gump Strauss Hauer & Feld LLP
Philip Bentley
Kramer Levin Naftalis & Frankel LLP
Martin J. Bienenstock
Proskauer
Jessica C. K. Boelter
Sidley Austin LLP
Ronen A. Bojmel
Guggenheim Securities
William A. Brandt, Jr.
Development Specialists, Inc.
Kathryn A. Coleman
Hughes Hubbard & Reed LLP
Hon. Melanie L. Cyganowski (ret.)
Otterbourg P.C.
Ryan Preston Dahl
Weil, Gotshal & Manges LLP
Debra A. Dandeneau
Baker McKenzie
Douglas E. Deutsch
Clifford Chance
Gerard DiConza
Archer Law
Christopher R. Donoho, III
Hogan Lovells
Andrew Dove
Citi
Dennis F. Dunne
Milbank LLP
Daniel J. Ehrmann
Kingstreet Capital Management
Michael J. Epstein
Deloitte Transactions & Business Analytics LLP
Robert J. Feinstein
Pachulski Stang Ziehl & Jones
Eric B. Fisher
Binder & Schwartz LLP
Jonathan L. Flaxer
Golenbock Eiseman Assor Bell & Peskoe LLP
Jonathan E. Goldin
Goldin Associates, LLC
Robert D. Gordon
Jenner & Block
Nicole L. Greenblatt
Kirkland & Ellis LLP
Sean A. Gumbs
FTI Consulting, Inc.
Kristopher M. Hansen
Stroock & Stroock & Lavan LLP
Dion W. Hayes
McGuireWoods LLP
Nathan A. Haynes
Greenberg Traurig, LLP
Marc J. Heimowitz
Coda Advisory Group LLC
William H. Henrich
Getzler Henrich & Associates LLC
Ira L. Herman
Blank Rome LLP
David Hilty
Houlihan Lokey
Marc E. Hirschfield
Royer Cooper Cohen Braunfeld LLC
Evan C. Hollander
Orrick Herrington & Sutcliffe LLP
Zul Jamal
Moelis & Company
Christopher A. Jarvinen
Berger Singerman LLP
Denise Kaloudis
Stretto
Daniel B. Kamensky
Marble Ridge Capital LLP
Susheel Kirpalani
Quinn Emanuel Urquhart & Sullivan, LLP
Samuel S. Kohn
Norton Rose Fulbright US LLP
Alan W. Kornberg
Paul, Weiss, Rifkind, Wharton & Garrison LLP
Mark P. Kronfeld
BlackRock
Paul D. Leake
Skadden, Arps, Slate, Meagher & Flom LLP
Daniel A. Lowenthal
Patterson Belknap Webb & Tyler LLP
Michael Luskin
Luskin, Stern & Eisler LLP
Kristine G. Manoukian
Schulte Roth & Zabel LLP
Richard G. Mason
Wachtell, Lipton, Rosen & Katz
Vivek Melwani
Centerbridge Partners
Brett H. Miller
Morrison & Foerster LLP
Dave Miller
Elliott Management Corporation
Rick Morris
HPS Investment Partners, LLC
Deirdre A. O’Connor
Epiq A
lec P. Ostrow
Becker, Glynn, Muffly, Chassin & Hosinski LLP
Barbra R. Parlin
Holland & Knight LLP
John D. Penn
Perkins Coie LLP
Irving H. Picard
BakerHostetler
David M. Posner
Kilpatrick Townsend & Stockton LLP
Madlyn Gleich Primoff
Freshfields Bruckhaus Deringer LLP
Marc D. Puntus
Centerview Partners LLC
Steven J. Reisman
Katten Muchin Rosenman LLP
Brian M. Resnick
Davis Polk & Wardwell LLP
J. Soren Reynertson
GLC Advisors & Co.
Briana Richards
EY
Deborah C. Rieger-Paganis
AlixPartners, LLP
Fred B. Ringel
Robinson Brog Leinwand Greene Genovese & Gluck, P.C.
Alexander V. Rohan
B. Riley FBR, Inc.
Jeffrey S. Sabin
Venable LLP
Dr. Faten Sabry
NERA Economic Consulting
Chérie Schaible
Ankura Consulting Group, LLC
Brad E. Scheler
Fried, Frank, Harris, Shriver & Jacobson LLP
Lisa M. Schweitzer
Cleary Gottlieb Steen & Hamilton LLP
Glenn E. Siegel
Morgan, Lewis & Bockius LLP
Andrew D. Sorkin
Latham & Watkins
Arthur J. Steinberg
King & Spalding LLP
Rachel C. Strickland
Willkie Farr & Gallagher LLP
Andrew V. Tenzer
Paul Hastings LLP
Albert J. Togut
Togut, Segal & Segal LLP
Brian Trust
Mayer Brown LLP
Suzzanne Uhland
O'Melveny & Myers LLP
William P. Weintraub
Goodwin Procter LLP
Edward S. Weisfelner
Brown Rudnick LLP
Christopher K. Wu
Teneo
Kenneth S. Ziman
Lazard
Paul H. Zumbro
Cravath, Swaine & Moore LLP
Sponsors |
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agencyIP |
Kramer Levin Naftalis & Frankel LLP |
Conference Information
Hotel Accommodations
Located in Midtown Manhattan within blocks of Central Park, Times Square, the Theatre District, Fifth Avenue shopping, MOMA and so much more, the New York Hilton Midtown is the perfect host hotel for this program. ABI has negotiated a special conference rate of $315 single/double per night from May 27-28, 2020, at the New York Hilton Midtown (reservations must be made by April 25, 2020, to secure this special rate). Please call (212) 586-7000 to make your reservations. Reservations may be made only once you have registered with ABI. Be sure to identify yourself with the conference to obtain the special conference rate. Rooms are held on a first-come, first-served basis. ABI cannot guarantee anyone a room after the specially rated ABI block is filled.
Conference Attire
Professional business attire is requested throughout the conference.
Continuing Education
7.5 hours of CLE credit, including 1.25 hours of ethics, are pending in 60-minute-hour states, and 9 hours of CLE credit, including 1.5 hours of ethics, are pending in 50-minute-hour states. Credit hours are estimated and are subject to each state’s approval and credit-rounding rules. California MCLE: ABI certifies that this activity has been approved for MCLE credit in the amount of 7.5 hours, of which 1.25 hours will apply to ethics. New York MCLE: This course or program has been approved in accordance with the requirements of the New York State Continuing Legal Education Board for a maximum of 9 credit hours, of which 9 credit hours can be applied toward the professional practice requirement and 1.5 credit hours can be applied toward the ethics requirement.
9 hours of CPE credit, including 1.5 hours of ethics, are also available.
*ABI offers intermediate-level courses, which assume that attendees will have at least some detailed knowledge of insolvency matters (pursuant to the “Statement on Standards for CPE Programs” established by AICPA and NASBA). ABI is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State Boards of Accountancy have the final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website, www.nasbaregistry.org.
ABI acknowledges that in some instances there will be persons who need to attend an educational seminar for CLE credit who are not able to pay full registration fees. ABI will handle such instances on a case-by-case basis and will work with the individual on alternative solutions. For persons who cannot meet the full registration rate, ABI will offer a reduced rate based on what the individual can reasonably afford to cover the cost of meals and materials. For persons unable to pay a reduced rate, we may allow the individual to work at our registration area for a few hours during attendee check-in, or assist in conference set-up. ABI also has reduced rates for government employees, professors, law clerks, and students. For information on tuition assistance, send an e-mail to [email protected].
Rates
Registration Rates | Early (by 3/27/20) |
Regular (3/28/20-5/8/20) |
Late (after 5/8/20) |
ABI Member |
$695
|
$795 |
$895
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Join ABI and Save!* |
$1,045
|
$1,145 |
$1,245
|
Non-Member |
$1,120
|
$1,220 |
$1,320
|
Gov’t./Aca./Nonprofit ABI Member |
$400
|
$450 |
$500
|
Gov’t./Aca./Nonprofit New ABI Member* |
$525
|
$575 |
$625
|
Registration rates include all sessions, continental breakfast, luncheon presentation, all refreshment breaks and educational materials.
* Includes a one-year membership for first-time members only — a $375 value! Membership is individual and nonrefundable. Expired members should select the member rate and add in the membership-renewal fee on the registration page.
ABI Member Exhibitor**:
|
$1,600
|
ABI Member Secondary Exhibitor:
|
$500
|
New ABI Member Exhibitor***:
|
$1,950
|
New ABI Member Secondary Exhibitor***:
|
$850
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** Includes one 6’ table and full registration for one booth representative.
*** Includes one 6’ table, full registration for one booth representative AND a one-year membership for first-time members only — a $375 value! Membership is individual and nonrefundable. Expired members should select the member rate and add in the membership-renewal fee on the online form.
Cancellation Policy
All fees, except a $75 handling fee, will be refunded if written notice of cancellation is received by May 7, 2020. No refunds will be granted after May 7, although substitutions will be allowed. After May 7, upon written request, a coupon for 20% off the registration fee (not including optional events) will be issued, which can be used (by the canceling registrant only) for any ABI educational program up to one year after this conference, or for this same conference next year.
Anti-Harassment Policy
The American Bankruptcy Institute is dedicated to providing a harassment-free conference experience for everyone, regardless of gender, gender identity and expression, sexual orientation, disability, physical appearance, body size, race, age or religion. We do not tolerate harassment of conference participants in any form. Sexual language and imagery is not appropriate for any conference venue, including talks. Conference participants violating these rules may be sanctioned or expelled from the conference without a refund at the discretion of the conference organizers.
Our anti-harassment policy can be found at: https://www.abi.org/about-us/bylaws-and-policies.