Committees
A financially troubled corporation confronts many issues, including those raised by federal income tax law. While relevant income tax law is based on a few policies that are relatively simple to summarize, implementation of these policies drives significant complexity.
“It’s like déjà vu all over again.”
— Yogi Berra
Part One of this two-part article reviewed custodially held crypto assets as part of the bankruptcy estate. This installment discusses intrinsic value as a proper valuation method for crypto assets held in exchange custody, factors to consider when calculating the intrinsic value of custodially held crypto assets, and risk-mitigation approaches to preserve asset value.
As we enter the final days of 2022, we are pleased to step back and highlight the work performed by the Young and New Members Committee over the past year. We have loved working with our committee leaders and are truly grateful for their time and commitment to ABI.
We are privileged to have observed many talented predecessors with years of dedicated service to ABI and the Mediation Committee during our time as co-chairs. We also have had the good fortune to work with very competent subcommittee directors. Several of our directors are seasoned hands, while others are relative newcomers.
On April 29, 2022, the ABI Asset Sales Committee announced that the 2021 Asset Sale of the Year was awarded to In re Lighthouse Resources, Inc., et al. (Bankr. D. Del. Consol. Case No. 20-bk-13056- JTD), for the sale of its Wyoming real property assets.
We hope this newsletter finds you well. We welcome our new members and look forward to seeing all of you at our upcoming events.
California faces a common, unfortunate and alarming reality: wildfires. So far in 2022, California has faced approximately 6,739 fires covering almost 365,895 acres. [1] Beyond and often as a consequence of damaging property, land and wilderness, wildfires can also lead to bankruptcy.
Though hints of a digital reality first surfaced as early as 2003 when Second Life made its debut, Facebook’s fall 2021 rebranding — to “Meta” — brought the metaverse to the center stage. That Facebook CEO Mark Zuckerberg would go so far as to change the iconic name of our favorite friend-finding app surely signaled a sense of inevitability that the metaverse would soon pervade our lives.
Fri, 2017-04-21
This panel hosted by the Commercial Fraud and Secured Credit Committees will take a fresh look at secured creditor rights and unique solvency issues in fraud and Ponzi cases. Learn how to avoid being trumped in federal forfeiture proceedings or paying on bankruptcy clawback claims by treading in the safe harbor of § 546(e) — and learn how to navigate the shoals of receivership.
Tue, 2017-04-04
In 2010, at the height of the last economic downturn, there were almost three million foreclosure filings nationwide. It therefore is not surprising that almost all insolvency professionals will confront foreclosure at some point, either representing a lender considering a foreclosure filing or whose claim is affected by one, or a borrower facing threats of foreclosure. This Webinar will provide experienced and novice practitioners alike with the tools needed to advise on these situations.
Thu, 2017-03-09
The Asset Sales Committee will host a webinar on the roles of secured, undersecured and unsecured creditors and committees in asset sales and bidding processes involving complex capital structures. The discussion will focus on the challenges and complications that can arise in seeking an expedited sale free and clear of claims and liens and means by which creditors and committees can use the sale process to their advantage.
Tue, 2017-03-07
Authors of the most recent Real Estate Committee newsletter recently held a committee call to discuss their respective articles and take participant questions. Topics included: application of section 363(h) of the Bankruptcy Code, “surrender” of collateral in Chapter 7 and 13 cases, and attorneys’ fees as “cure costs".
Mon, 2017-02-27
This panel will explore the nuts and bolts of bankruptcy appeals, taking into account the needs of one’s clients, examining the do’s and don’ts for an effective appeal, discussing the differences of appealing to the Bankruptcy Appellate Panel versus electing to proceed before the district court, the limits of appellate jurisdiction over interlocutory appeals, and addressing strategies for a successful appeal.
Thu, 2017-02-23
The ABI Unsecured Trade Creditors’ Committee (UTC) hosted a Tips of the Trade Call titledInvoluntary Petitions – Issues to Consider before Pulling the Trigger. The panel covered issues from why to commence an involuntary case, to what are the requirements to avoid dismissal, to what are the risks to the petitioning creditors. The speakers were Ashley McDow of BakerHostetler in California and Kathleen DiSanto of Bush Ross in Florida. Mark Felger, a co-chair of the UTC, moderated.
Wed, 2017-02-22
This panel will explore the nuts and bolts of bankruptcy appeals, taking into account the needs of one’s clients, examining the do’s and don’ts for an effective appeal, discussing the differences of appealing to the Bankruptcy Appellate Panel versus electing to proceed before the district court, the limits of appellate jurisdiction over interlocutory appeals, and addressing strategies for a successful appeal.
Wed, 2017-02-08
The Bankruptcy Litigation Committee recently hosted a conference call discussing the latest articles in their newsletter (which primarily focus on electronic discovery issues). Authors of the Newsletter articles were available to discuss their articles and a wide range of topics, including the increasing role of metadata in bankruptcy and e-discovery obligations that may arise in connection with asset purchases.
Thu, 2017-02-02
This program will provide an introduction to the most common types of intercreditor and subordination agreements involved in transactions today and will highlight drafting considerations and points of negotiation involved in each. Additionally, the panelists will provide an overview of important bankruptcy court decisions involving the interpretation and enforceability of intercreditor agreements and subordination agreements and will provide insight about how intercreditor and subordination agreements have changed (or should change) in response.
Thu, 2017-02-02
This program will provide an introduction to the most common types of intercreditor and subordination agreements involved in transactions today and will highlight drafting considerations and points of negotiation involved in each. Additionally, the panelists will provide an overview of important bankruptcy court decisions involving the interpretation and enforceability of intercreditor agreements and subordination agreements and will provide insight about how intercreditor and subordination agreements have changed (or should change) in response.
