The ABI International Committee is actively soliciting nominations for the First Annual ABI International Committee Matter of the Year Award. The details are set forth below.
Nomination Deadline: September 15, 2022.
Each submission should address how the matter (the “Matter”) satisfies the following criteria:
Everyone is feeling the impacts of the highest rate of inflation in decades, with the Consumer Price Index (CPI) still reporting a 8.3% year-over-year rate of inflation. Many pundits are blaming the impact of the Russian sanctions as a primary driver. This month, U.S. companies reporting earnings are repeating the same mantra.
Creditors that file motions to dismiss or convert pursuant to 11 U.S.C. § 1112 [1] to reduce delay by debtors must generally avoid continued hearings in subchapter V cases.
If a mortgage is ambiguous or contains a mistake, a lender may generally reform the mortgage under state law. [1] But what if a borrower files a bankruptcy petition before a lender does so? In a divided opinion, the U.S. Court of Appeals for the Fifth Circuit confirmed that a lender may not reform a mortgage post-petition.
Our committee has been quite active during the last few months!
Retired Bankruptcy Judge Louis Kornreich has been a mainstay for the ABI Mediation Committee for many years and now serves as a co-chair. As a U.S. Bankruptcy Judge, he was respected for his innovative approach to solving problems that crop up in cases by employing mediation-like skills to help parties resolve their disputes without using the full panoply of litigation tools.
As bankruptcy cases of all types continue to be filed in record numbers, the use of mediation is increasing. This trend is likely to continue. This article focuses on the concepts that a lawyer must know and actions that he/she should take to avoid or overcome an impasse in mediation. The obstacles to reaching a settlement vary with each case.
In an opinion issued on January 13, 2022, Judge David Novak of the United States District Court for the Eastern District of Virginia struck down non-consensual third-party releases [2] from a plan confirmed by the bankruptcy court.
In bankruptcy, a debtor-in-possession’s chief goal is to get its plan of reorganization confirmed by the bankruptcy court.
Seeking relief under the Bankruptcy Code is a common method of restructuring a business pushed into insolvency by tort claims. Under current law, filing a petition under chapter 11 of the Bankruptcy Code allows a business to stay all litigation against it and propose a plan of reorganization that channels tort claims to a settlement trust for valuation and payment.
Hemorrhaging Hospitals: Labor Issues in the Healthcare Insolvency E.R.
Using Technology Effectively: Strategies for Courtroom Success
Trustee Selection in Commercial Bankruptcy Cases: Who Wins the Battle to Control the Estate?
Secured Credit Under the Code and Commission Report
Don’t Restrict My Sale: The Enforceability of Restrictive Covenants and Easements in Assets Sales in Bankruptcy
The Unsecured Trade Creditors Committee's most recent committee call was titled "Tricks of the Trade in Dealing with Executory Contracts," and was moderated by committee Co-chair, Lisa Gretchko. Speakers for this call included David Neumann of Two By Foresight LLC in Cleveland, Ohio, and Shirley Cho of Pachulski Stang Ziehl & Jones LLP in Los Angeles. Please review the attached excerpt from the ABI Commission to Study the Reform of Chapter 11's final report. The full report can be found online at http://commission.abi.org/.
The Asset Sales Committee hosted their most recent committee call on Wednesday, November 12. This call was titled "Bankruptcy Reform Commission’s Consideration of a Proposal to Surcharge Secured Lenders for 363 Asset Sales" and worked to more broadly inform and engage bankruptcy and restructuring professionals about the proposal being considered by the Bankruptcy Reform Commission to assess a charge on secured lenders for 363 asset sales in Chapter 11. Ms. Kathryn A. Coleman of Hughes Hubbard & Reed LLP and Mr. Gregory A.
The ABI’s Unsecured Trade Creditors’ Committee and the ABI’s Secured Credit Committee hosted a joint call featuring Mark Gittelman, Chief Practice Counsel - Asset Recovery at PNC. Mark led a discussion regarding the Bank Secrecy Act and Anti-Money Laundering procedures being utilized by financial institutions.
The Unsecured Trade Creditors Committee hosted their most recent bi-monthly committee call on Thursday, October 23rd. Eric J. Haber of Cooley LLP in New York, led a discussion regarding developing strategies in preference cases. Brent Weisenberg of Ballard Spahr in New York moderated the discussion. Please review the attached FAQ and materials that Eric provided attendees.
The October 2nd conference call for ABI's Asset Sales Committee provided a brief overview of the Fisker Automotive opinions, as well as their progeny, including Free-Lance Star. The discussion also explored the practical implications of those decisions for practitioners representing different constituents in a restructuring. The call was led by Oscar N. Pinkas of Dentons US LLP in New York, and Justin F. Paget of Hunton & Williams LLP in Richmond, Virginia.
