2015 New York City Bankruptcy Conference, 2013

“Group Privileges”: What are the limits of the attorney-client and work-product privileges that can be asserted by official committees and their members? Ad hoc committees and their members? Bank syndicates and their members; Conflicts: Latest developments in disclosure and disqualification, the use of conflicts counsel, UST Guidelines, etc.; The New U.S. Trustee Guidelines: What ethical concerns are raised by the new UST Guidelines on professional retention and fee applications (including issues relating to attorney/client privilege)?

Selection of CRO and establishment of a scope and chain of command; role of CRO and other officers in intercompany disputes in multi-debtor cases; negotiating pre- and post-confirmation equity/incentives for officers and directors; selecting a post-confirmation board of directors; issues and actions constituting “cause” for appointment of trustee or examiner motion; appointment and role of examiner in recent cases (Rescap, Dewey, Dynegy)

Equitable mootness, releases, resuscitation of discharged claims, etc. (Owens Corning); § 1129(a)(10) in multi-debtor nonconsolidated cases (Charter, Tribune); treatment of make-whole provisions in a plan (Chemtura); facial nonconfirmability; vote designation; post-filing lock-up agreements

Fraudulent conveyance post-TOUSA; direct/indirect benefit; § 550(d); update on in pari delicto; clearing firm as initial transferee in Ponzi scheme (Goldman Sachs v. Bayou); update on case law (e.g., Stern v. Marshall and Madoff); pre-emption (TOUSA, Tribune, Lyondell); safe harbors; insurance issues (sequencing of claims in litigation, policy exclusions, DIP/committee same as pre-petition insured?); venue (Patriot, HMH)

Much has changed in the world of corporate restructuring since the Bankruptcy Code was passed in 1978. ABI's review commission has been operating since last April, gathering information about whether and how corporate bankruptcy law could be reformed to make the process more effective and result in greater maximization of values for all stakeholders. Hear about the process, and the policies under review, from the Commission co-chair and three others from the 20-member Commission.