2015 Northeast Bankruptcy Conference, 2015

Young lawyers frequently learn that they will be working on a new chapter 11 case when they are directed to start drafting pleadings. This session, spearheaded by members of ABI’s Young & New Members Committee, is geared toward gaining an understanding of what precedes that moment by (1) advising and educating the new(er) generation of bankruptcy professionals on the background and “big picture” of a chapter 11 case, and (2) advising and educating the newest generation of bankruptcy professionals on pre-filing strategies.

This program will explore techniques and issues in the drafting of effective settlement agreements both before and after a bankruptcy filing. Pre-filing drafting issues will include such “bankruptcy-proofing” matters as the risk of a paying party’s filing, including a preference or fraudulent transfer attack, the running of a statute of limitations, “bad-boy guarantees,” and the preservation of nondischargeability.

In the technology field, “Moore’s law” states that capacity doubles approximately every two years. This pace of change, the reduction in the use of paper and the corresponding increase in electronic data and “cloud storage” have given rise to a multitude of issues that significantly impact the everyday practice of law and must be considered by both law firms and lawyers. This session will cover best practices to minimize risks to clients and minimize malpractice risks to lawyers.

No business chapter 11 case gets resolved without some determination of value. This panel of valuation experts and lawyers will discuss complex commercial valuation issues, including: (1) the multiple approaches to value (i.e., discounted cash flow, comparable company) and how to reconcile those values; (2) how the purpose of valuation affects the selection of the valuation methodology; (3) the most common places to probe when challenging a valuation; and (4) standard of value (fair market value, investment value or something else) and premise of value (going concern vs.

This program will address the ethical challenges to practitioners when dealing with difficult clients, ranging from the bully client to a client with a questionable background or a client that is being less than truthful. In a tough legal market when work is needed, client selection sometimes gets overlooked. This program will address what to do with a difficult client once engaged — and when it’s time to part company and how to do so. Finally, the program will also cover the ethical boundaries that sometimes get blurred by overzealous clients.