The Commercial and Regulatory Committee produced a variety of programs, articles and materials throughout 2024.
Commercial And Regulatory Law Committee
Committees
Subchapter V of the Bankruptcy Code provides an affordable and efficient means of financial rehabilitation to the owners of small businesses. In service of these ends, “[t]he debtor has the opportunity to use new, powerful tools to reorganize and save its business; but it must do so quickly.” [1]
Winter Leadership Conference Panel
At the upcoming Winter Leadership Conference, taking place Dec. 12-14 in Scottsdale, Ariz., the Commercial and Regulatory Law and Secured Credit Committees are hosting a joint panel, “Remote Control: Not Just for Toys Anymore,” on Dec. 13 at 9:30 a.m. with the participation of the following speakers:
The Third Circuit Court of Appeals’ recent ruling in the FTX bankruptcy case severely limits a bankruptcy court’s discretion to deny the appointment of an examiner in a bankruptcy case.[1] In FTX, the U.S. Trustee filed a motion to appoint an examiner. The bankruptcy court denied the motion.
Our committee’s leadership has been hard at work, organizing educational programming and social events to keep our members engaged. Here are some highlights of recent events.
The Commercial and Regulatory Committee produced a variety of programs, articles and materials throughout 2023.
A Periodic Discussion of Tax Topics for Bankruptcy Attorneys
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
This panel will discuss various issues arising from the development of a new class of collateral: that which is remotely controllable. The concept of a secured creditor controlling its collateral is of course not a new or novel concept. However, the ability of secured creditors to control their collateral remotely is growing rapidly as new technology and new types of assets are developed.
This panel of bankruptcy practitioners will discuss all facets of merchant cash advance (MCA) funding, its history, and its interplay with bankruptcy. The panelists will provide different perspectives — MCA company, debtor and subchapter V trustee — on the legal implications of merchant cash advances in chapter 11 bankruptcy proceedings, as well as practical solutions for dealing with MCAs in chapter 11 cases.
The bankruptcy process requires the management of the bankruptcy estate’s bank accounts, client accounts and business records, in addition to the management and processing of claims, claim distributions, adequate assurance deposit accounts, asset recovery, and many other financial and legal demands. Each one of these is a point of business email compromise (BEC) vulnerability. BEC attacks are the most costly form of cyberfraud for all businesses. This session will focus on best practices to use to protect your clients and yourself from this pervasive fraud.
This panel focuses on material tax issues that every bankruptcy attorney should know that can impact both estate administration and bankruptcy plans. The panelists highlight issues that should be considered when a company is considering filing for bankruptcy or is in bankruptcy, such as tax attribute planning and preservation, management of COD income in connection with liability management transactions, “significant modification” of debt and how to minimize consequences, the considerations if the debtor is a partnership or a corporation, associated state tax issues, and key tax return compliance implications.
This panel of experts will discuss the latest trends in the wind, coal, and oil and gas industries that have dominated the headlines, with special emphasis on new regulatory issues and changes in the energy market.
In today’s bankruptcy world, most major cases involve at least one pre-petition class action. This panel will focus on the distinction between mass tort claims and other types of class actions, recent case law addressing the proper procedures for asserting class claims, the allowance of class claims and compensation of class counsel, and the final resolutions of class claims, either by way of settlement or pursuant to plans. Other cutting-edge issues surrounding class claims also will be discussed.
Hosted by the Ethics and Professional Compensation and Commercial and Regulatory Law Committees Social media and privacy are areas of opportunity — and concern. Today’s law practice requires that care be taken in both areas. This panel will explore the impact of privacy and social media issues on security, ethics and compensation.
Labor Issues in 363 Sales: Things You Need to Know
Hospitality and the Tax Man: Historical Hospitality Tax Issues in Distress
Tax-Sharing Agreements in Bankruptcy that Have Been the Subject of Recent Appeals Courts Decisions
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Co-Chair
Markowitz, Ringel, Trusty & Hartog, PA
Ft. Lauderdale, FL
(954) 767-0030
Co-Chair
Dentons
Louisville, KY
(502) 587-3719
Communications Manager
U.S. Bankruptcy Court for the District of Arizona, Phoenix Division
Phoenix, AZ
(602) 682-4144
Education Director
Hodgson Russ LLP
East Aurora, NY
(716) 848-1598
Education Director
Simmons Legal PLLC
Dallas, TX
(214) 643-6192
Membership Relations Director
Womble Bond Dickinson (US) LLP
Wilmington, DE
(302) 252-4326
Newsletter Editor
Quinn Emanuel Urquhart & Sullivan, LLP
Houston, TX
(713) 221-7000
Special Projects Leader
Lessne Law
Fort Lauderdale, FL
(954) 372-5759