Throughout 2017 and continuing into 2018, the Young and New Members Committee (the “Y&NM Committee”) leadership produced a variety of helpful materials and programs, and continued to encourage new and young ABI members to become more active in the organization. Just some of those highlights are discussed below.
Conference Programs
Like their for-profit counterparts, nonprofit corporations face a variety of challenges throughout their corporate life cycles, some of which may lead an organization to pursue reorganization under chapter 11 of the Bankruptcy Code.[1] One of the issues that arises during a nonprofit’s reorganization is whether its board of directors m
The Bernie Madoff investment scandal unleashed a slew of lawsuits, and at first glance, SPV OSUS Ltd. v. UBS AG[1] may seem like just another drop in the bucket. However, this case is notable for its expression of the Second Circuit’s rather extraordinary view of “related to” bankruptcy jurisdiction.
[1]Fee applications are an inescapable aspect of bankruptcy practice.
The Seventh Circuit’s recent decision in Secure Leverage put to bed nearly five years of litigation on the question of what contracts are sufficiently “similar to” futures contracts under § 761(4) of the Bankruptcy Code to receive the highest priority of repayment in a commodity broker liquidation.[1] The court held that in or
Part I of this article identified several important issues that arise when crowdfunded companies file for bankruptcy. Among the most foreseeable dilemmas is that only a handful of crowdfunding backers would file a proof of claim, allowing equity-holders to recover an unduly high share of the debtor’s assets.
In April of 2017, the Consumer Financial Protection Bureau (CFPB) sued Ocwen Financial Corporation (Ocwen) and its affiliates for supposed systematic deficiencies in their mortgage servicing business.
Editor's note: Part I of this article was published in the July 2017 edition of the Young and New Members Committee newsletter, and can be found on the committee's website.
First-day orders in U.S. chapter 11 proceedings deal with a wide range of pressing issues within a limited timeframe. Moreover, foreign recognition of first-day orders in cross-border insolvencies, particularly in Canada-U.S. ones, have been dealt with in a context of a high degree of mutual deference and collaboration between jurisdictions.
On May 3, 2017, the Financial Oversight and Management Board of Puerto Rico launched an unprecedented restructuring proceeding under Title III of the Puerto Rico Oversight, Management, and Economic Stability Act (“PROMESA” or the “Act”).
The Unsecured Trade Creditors Committee's May Tips of the Trade call featured Neil Steinkamp of Stout Risius Ross, LLC, who discussed the ordinary course of business defense in the context of preference analysis.
This May edition of the ABI Bankruptcy Litigation Committee Newsletter focused on bankruptcy litigation issues in energy sector restructurings. The newsletter featured an article exploring assumption and rejection of oil and gas conveyances, and an article discussing CERCLA liabilities in energy-related cases. Following publication of this newsletter, both authors hosted a call to discuss the issues explored in their articles. Click here to review the articles.
The topic of the most recent Commercial Fraud Committee call, discussed the Uniform Voidable Transactions Act (UVTA), formerly named the Uniform Fraudulent Transfer Act (UFTA), which was amended (and retitled) in 2014 for the first time since its creation in 1984. According to the Uniform Law Commission, the amended Act, which strengthens creditor protections by providing remedies for certain transactions by a debtor that are unfair to the debtor’s creditors, addresses a small number of narrowly-defined issues and is not a comprehensive revision of the Act.
Crossing the Digital Divide: How to Use Social Media to Augment Your Practice
The Unsecured Trade Creditors' Committee's call discussed “gifting” and other recent developments regarding application of the absolute priority rule.
The ABI Bankruptcy Litigation Committee recently published a newsletter with articles focusing on IP matters in bankruptcy litigation. Following publication of the newsletter, authors invited members to dial in for further discussion of the topic and articles.
The Asset Sales Committee will host John Hutton and Henry Jaffe as they discuss the GM successor liability decision, now on appeal in the Second Circuit, describing the arguments and positions taken by different parties on key issues in the case and discussing the potential impact of the ruling on appeal.
The ABI Commission Report proposes some significant changes to the Bankruptcy Code, and the preferential transfer statute in Section 547 is no exception.This webinar explores the rationale behind the recommendations, such as the good faith belief for filing a demand letter or preference complaint, the increase in the statutory minimum to bring a preference action, and more.
Tax-Sharing Agreements in Bankruptcy that Have Been the Subject of Recent Appeals Courts Decisions
