NO CLE - The Outer Limits (of U.S. Bankruptcy Court Jurisdiction)

This panel will explore the ethical considerations and best practices available to attorneys and financial advisors to financially distressed businesses looking to eschew their home court in favor of a U.S. court and the chapter 11 remedy. On the flip side, this panel will also explore the ethical considerations and best practices available to attorneys and financial advisors to creditor constituencies who are trying to keep a case at home and as far away as possible from a U.S. court administering chapter 11. In our age of globalization, where a case is administered can make all the difference; consequently, forum-shopping is often a major consideration for advisors. Advisors to financially distressed companies must ask themselves which practices are ethically appropriate and which are not, as well as which practices “work” to create U.S. jurisdiction and which are not as effective. Conversely, advisors to creditor constituencies must ask themselves what practices are ethically appropriate and most effective to keep a case at home and away from chapter 11.