ABI and the Recovery and Insolvency Specialists Association (RISA) are partnering to bring you the 2019 Caribbean Insolvency Symposium in Grand Cayman! Returning once again to this international financial hub, the educational program has been designed to provide attendees with an interactive learning experience focused on insolvency issues in the Caribbean and beyond. A faculty of prominent bankruptcy judges and experienced practitioners will ensure a top-notch learning experience and ample networking opportunities, all in a beautiful setting. Attendees can earn up to 6.25/9.5 hours of CLE/CPE credit.
Monday, January 7
Opening Reception at KARoo
Sponsored by RISA
Tuesday, January 8
Registration and Continental Breakfast
Welcome and Opening Remarks
Chapter 15 Update: Discovery, Drawbridge, Venue, Parallel Cases and Other Hot Topics in Cross-Border Cases
This panel will discuss recent chapter15 and cross-border cases, including those involving the scope of discovery available to foreign representatives, § 109 eligibility, venue issues and parallel case concerns. The panel will also discuss logistical and practical solutions in running chapter 15 cases.
Hon. Robert A. Mark, Moderator
U.S. Bankruptcy Court (S.D.Fla.); Miami
Gregory S. Grossman
Sequor Law; Miami
Laura R. Hall
Allen & Overy, LLP; New York, NY
RHSW Caribbean; Grand Cayman, Cayman Islands
Contracting Out of Bankruptcy: Domestic and International Considerations
This panel will explore the effectiveness (and, sometimes, lack thereof) of creditor strategies to restrict by contract a borrower’s ability to obtain bankruptcy relief, whether by limiting the ability of a corporate borrower to seek bankruptcy relief without certain stakeholder approvals, limiting the type of available bankruptcy relief, choosing which country’s bankruptcy laws will apply to an insolvency proceeding involving the borrower, bankruptcy-remote structuring techniques, and other means. For example, the U.S. Court of Appeals for the Fifth Circuit recently upheld a “golden share” arrangement whereby a creditor was able to prohibit the debtor limited liability company from filing bankruptcy; and in the international realm, choice of law clauses have at times limited a debtor’s ability to obtain relief under the Model Law for Cross-Border Insolvency. This panel will also explore variations in international public policies with respect to restrictions on a borrower’s ability to seek bankruptcy relief.
Zachary H. Smith, Moderator
Moore & Van Allen PLLC; Charlotte
Cadwalader Wickersham & Taft, LLP; New York
Bast Amron; Miami
Kobre & Kim LLP; Grand Cayman, Cayman Island
Paul J. Keenan, Jr.
Greenberg Traurig, P.A.; Miami
Brian J. Lohan
Arnold & Porter; Chicago
Blockchain, Bitcoin and Beyond: Getting Current on Digital Currency
This panel will discuss blockchain and cryptocurrency, focusing on the basic terminology and how various agencies of the U.S. government treat cryptocurrency, in particular the Internal Revenue Service, the Commodity Futures Trading Commission, and the Securities and Exchange Commission. The panel will then examine how security interests in cryptocurrency are perfected under Article 9, and whether transfers of cryptocurrency can be avoided pursuant to 11 U.S.C. § 548 or clawed back as preferences pursuant to 11 U.S.C. § 547, as well as whether interests in cryptocurrency can be claimed exempt under 11 U.S.C. § 522, with a focus on Florida. The panel will also discuss issues concerning whether initial cryptocurrency coin offerings are dischargeable under 11 U.S.C. § 522, how digital currency is changing the way business is conducted, which industries have been early adopters of digital currency, and whether digital currency is here to stay. Finally, the panel will discuss the Cayman perspective on digital currency, as well as current developments and trends.
Hon. Roberta Colton, Moderator
U.S. Bankruptcy Court (M.D. Fla.)
Cayman Finance; Grand Cayman, Cayman Islands
Alan R. Rosenberg
Markowitz Ringel Trusty & Hartog; Miami
Bryce A. Suzuki
Bryan Cave Leighton Paisner LLP; Phoenix
Patricia Redmond, Moderator
Stearns Weaver Miller Weissler Alhadeff & Sitterson, P.A. Miami, Fl.
Sponsored by FTI Consulting, Inc.
Bar Sponsored by Kozyak Tropin & Throckmorton, LL
Wednesday, January 9
Concurrent Sessions (2)
US Track: ADR in Cross-Border Insolvency Cases
This panel will discuss the role that alternative dispute resolution (ADR) can and does play in bankruptcy, starting with the tension between bankruptcy and ADR, as all ADR processes conflict with bankruptcy’s goal of centralizing estate administration into a single proceeding. In the U.S., this tension is most prevalent when a creditor seeks to enforce a pre-petition arbitration agreement. The panel will next examine the role that mediation plays in U.S. bankruptcy cases by examining the types of issues and disputes that are amenable to resolution via mediation. Finally, the panel will explore the power and potential of ADR in the cross-border arena, looking at models for how cross-border insolvency issues have been handled procedurally and identifying types of disputes that are well-suited to resolution via ADR.
Prof. Andrew Dawson, Moderator
University of Miami School of Law; Coral Gables, Fla.
Angela L. Baglanzis
Obermayer Rebmann Maxwell & Hippel LLP; Philadelphia
CB Insolvency, LLC; Swampscott, MA
American Bankruptcy Institute; New York
Caribbean Track: Insolvency Remedies for Offshore Fraud: Closing the Net on the Bad Guys
Recent developments in offshore law have increased the effectiveness of the tools available to trace and recover assets through the offshore insolvency process. This panel will be conducted in a formal debate style, using the format of first proposition followed by first opposition, then second proposition followed by second opposition. The debates will look at the illegality defense, clawback claims, the dishonesty test and foreign officeholder recognition, among other issues. Each debate will be seven minutes with a four-minute closing, followed by a vote.
Laura Hatfield, Moderator
Solomon Harris; Grand Cayman, Cayman Islands
Walkers Global; Grand Cayman, Cayman Islands
Grant Thornton LLP; Grand Cayman
Scott M. Berman
Friedman Kaplan Seiler & Adelman LLP; New York
Squire Patton Boggs; New York
Concurrent Sessions (2)
US Track: Issues Facing Community and Critical-Access Hospitals: What Is the Answer, and When Is It Too Good to Be True?
What are critical-access hospitals, and why are they important? This panel will discuss alternative solutions to producing additional cash flow for failing hospitals, which need to be closely scrutinized by health care professionals familiar with licensing, reimbursement, anti-kickbacks and patient-brokering limitations. The panel will also cover violations of the False Claims Act, Stark Law and Anti-Kickback Statute, as well as state law cases on patient-brokering and the questioning of medical necessity, clinical laboratory outreach programs, physician employment arrangements involving telemedicine, prescription programs and compounding, criminal statutes and DOJ/state regulator issues, how to reorganize legally, dealing with CMS (Medicare/Medicaid), nongovernmental and third-party commercial payers during a restructuring, and general rules on pass-through billing for outreach programs.
Frank P. Terzo
Nelson Mullins Broad and Cassel LLP; Ft. Lauderdale, Fla.
Carol L. Fox
GlassRatner Advisory & Capital Group LLC; Ft. Lauderdale, Fla.
Elizabeth A. Green
Baker Hostetler; Orlando, Fla.
Baker Donelson Bearman, Caldwell & Berkowitz PA; Nashville, Tenn.
Change Healthcare, Indianapolis
Caribbean Track: Strategic Use of Independent Directors in Multi-Jurisdictional Insolvency Proceedings
This panel will explore the roles, responsibilities, benefits and liabilities in using independent directors through multi-jurisdictional insolvency proceedings and will discuss using directors strategically throughout the life of a company. The panelists will explain the three typical stages of a company where directors could be instructed — going concern, insolvency and emergence from a restructuring — then explain the roles and responsibilities at each of these appointments. The session would also overlay the jurisdictional distinctions among various administrative proceedings, including offshore liquidations, U.S. bankruptcy, U.S. receiverships and common law receiverships. The panelists will offer real world examples to show the differences and how the role of the director is utilized, as well as what is at stake for them, the company, the creditors and the investors.
Katherine R. Catanese, Moderator
Foley & Lardner; New York
Joel E. Cohen
Stout Risius Ross, LLC; New York
Calderwood, Grand Cayman, Cayman Islands
FFP (Cayman) Limited, Grand Cayman, Cayman Islands
Ogier; Grand Cayman, Cayman Islands
Concurrent Sessions (2)
US Track: Professional Disclosures in Bankruptcy Cases: The Ethics Face-Off of the Century (Jay Alix v. McKinsey & Co., Inc.)
The duty of complete and candid disclosures by professionals seeking employment in bankruptcy cases goes to the heart of the integrity of the bankruptcy system. After presenting an overview of the disclosure requirements of bankruptcy professionals practicing in the BVI, Cayman Islands and the U.S., two panelists will argue the merits of the key positions being asserted in Jay Alix v. McKinsey & Co., Inc., the high-stakes, disclosure-related lawsuit currently pending in the United States District Court for the Southern District of New York. One hour of Ethics CLE will be provided to attendees.
Christopher A. Jarvinen, Moderator
Richards Kibbe & Orbe, LLP.; New York
Genovese, Joblove & Battista P.A.; Ft. Lauderdale, Fla.
James C. Tecce
Quinn Emanuel Urquhart & Sullivan, LLP; New York
Kobre & Kim LLP; BVI and Grand Cayman
Caribbean Track: Recent Opinions and Orders Under PROMESA and Their Impact on Puerto Rico’s Future
This panel will examine the effects thus far of the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA), as well as Puerto Rico’s economy, including where it came from, where it is now and where it is going.
Hon. Enrique S. Lamoutte, Moderator
U.S. Bankruptcy Court (D.P.R.); San Juan
Hon. Brian K. Tester, Moderator
U.S. Bankruptcy Court (D.P.R.) San Juan
Ferraiuoli, LLC; Orlando, Fla. and San Juan
Puerto Rico Clearing House, New York
Luisa S. Valle-Castro
C. Conde & Associates; San Juan
Infrastructure Revitalization Coordinator for Puerto Rico; San Juan