ABI’s Cross-Border Insolvency Program, hosted by ABI’s International Committee, will be held at Davis Polk & Wardwell’s conference center in midtown Manhattan. The program features a unique gathering of speakers from several nations discussing today’s most relevant cross-border cases and topics.
Monday, November 14
Registration and Coffee/Tea
Morning Presiding Officer
Davis Polk & Wardwell LLP; New York
Welcome by Conference Leadership
Christopher R. Mirick, Program Co-Chair
Pillsbury Winthrop Shaw Pittman LLP; New York
E. Patrick Shea, Program Co-Chair
Gowling WLG (Canada); Toronto
Canada/US – Montreal Maine and Atlantic Railway
The Montreal, Maine and Atlantic Railway (MMA) was a freight railroad that operated in the States of Maine and Vermont, and the Province of Quebec. In August of 2013, MMA commenced insolvency proceedings as a direct result of the runaway train that resulted in the deaths of 47 people. The panel will explore the issues involved in developing a plan to address mass tort claims. The discussion will include the approaches taken in Canada and the United States to the grant of “third party” releases and the grant of fee premiums to professionals.
Aubrey E. Kauffman, Moderator
Fasken Martineau DuMoulin LLP; Toronto
Andrew H. Adessky
Debra A. Dandeneau
Baker & McKenzie LLP; New York
Robert J. Keach
Bernstein Shur; Portland, Maine
Sponsored by Elliott Greenleaf
Caribbean – Resort Insolvencies
The economic downturn has a significant impact on resort properties in the Caribbean. The Baha Mar Resort was supposed to add 12% to the GDP of the Bahamas, but it has turned into the world's biggest white elephant and the investors have gone to war and the Nikki Beach Resort & Spa in the Turks and Caicos Islands, one the 21 Hottest Caribbean Escapes, has been placed into receivership. This panel will explore the unique challenges faced by the creditors and other stakeholder involved in resort insolvencies in the Caribbean Region.
Rafael X. Zahralddin-Aravena, Moderator
Elliott Greenleaf; Wilmington, Del.
Aird & Berlis LLP; Toronto
Hon. Robert D. Drain
U.S. Bankruptcy Court (S.D.N.Y); White Plains
LennoxPaton; Nassau, Bahamas
KRyS Global; Hamilton, Bermuda
Sponsored by EisnerAmper
Afternoon Presiding Officer
FTI Consulting, Inc.; New York
Latin and South America Energy and Resources
Beginning in Brazil in 2013 with OSX/OGX and stretching into Mexico with Oceanografia in 2014, Latin America has not been immune to the contagion of depressed oil & gas prices. This panel will compare and contrast key issues in these cross border, and sometimes multi-jurisdictional restructurings, bringing both a financial and legal perspective from advisors and creditors.
FTI Consulting, Inc.; Toronto
Gilberto Deon Correa, Jr.
Souto, Correa, Cesa, Lummertz & Amaral Advogados; Porto Alegre, Brazil
Ryan P. Dahl
Kirkland & Ellis LLP; Chicago
Floris B. Iking
Alvarez & Marsal Mexico; Mexico City
Ankura Consulting Group; New York
Jurisdictional Issues in Cross-border Fraud
In 2009, the Securities Exchange Commission (SEC) filed a complaint in the Northern District of Texas against Stanford International Bank Limited (SIB) and the Financial Services Regulatory Commission in Antigua appointed its own receivers over the assets of SIB. This initiated a cross-border jurisdictional battle as each sought to control the international assets of SIB. This panel will explore the practical and legal issues encountered in cross-border fraud involving assets, and creditors, in multiple jurisdictions with a focus on SIB.
Ronald J. Silverman, Moderator
Hogan Lovells US LLP; New York
Langlois lawyers, LLP; Montreal, Canada
Kobre & Kim LLP; Grand Cayman, Cayman Islands
Laura Davis Jones
Pachulski Stang Ziehl & Jones LLP; Wilmington, Del.
Restructuring a Nation - Jamaica
For decades, Jamaica struggled with low growth, high public debt and external shocks that further weakened the economy. To reverse this trajectory, the Government of Jamaica embarked on a comprehensive and ambitious program of reforms for which it has garnered national and international support. The reform program is beginning to bear fruit. Bill Brandt Jr will, through a Q&A format, explore the challenges faced in restructuring Jamaica including how Jamaica approached the issues with which they were faced, how it dealt with the IMF and the IAB.
William A. Brandt, Jr., Moderator
Development Specialists, Inc.; New York
Senator and Former Minister of Justice Hon. Mark Golding
Ministry of Justice; Kingston, Jamaica
Sponsored by Alvarez & Marsal