“It’s like déjà vu all over again.”
— Yogi Berra
Committees
Part One of this two-part article reviewed custodially held crypto assets as part of the bankruptcy estate. This installment discusses intrinsic value as a proper valuation method for crypto assets held in exchange custody, factors to consider when calculating the intrinsic value of custodially held crypto assets, and risk-mitigation approaches to preserve asset value.
As we enter the final days of 2022, we are pleased to step back and highlight the work performed by the Young and New Members Committee over the past year. We have loved working with our committee leaders and are truly grateful for their time and commitment to ABI.
Chapter 7 panel trustees play an integral role in the bankruptcy system and perform a number of duties to effectively liquidate an estate for a debtor’s discharge. One of the trustee’s most important duties is to “collect and reduce to money the property of the estate ...
The Small Business Reorganization Act of 2019 (SBRA), Pub. L. No. 116-54 § 3(a), is probably the largest wholesale change to the Bankruptcy Code since BAPCA in 2005. Enacted in February 2020, the SBRA essentially created subchapter V of chapter 11 and made it easier for small business owners to keep their equity without having to liquidate and sell the remainder of their assets.
In August 2001, after two state trial court clerkships, a short stay at a small, matrimonial law firm, and then a position as a staff attorney with a committee of our state supreme court, I declined an offer to work for Legal Services (the goal that had been the sole purpose of my entering law school in 1989) and accepted a one-year position as a shared (“swing) law clerk with the U.S.
Popular cryptocurrency exchange Coinbase surprised many in its first 2022 quarterly report when it informed customers that “custodially held crypto assets may be considered to be the property of a bankruptcy estate, in the event of a bankruptcy,...
The Hawaii Bankruptcy Court’s ruling in In re Minesen Co. [1] is a cautionary tale of how seemingly innocuous contract language can have unintended consequences — effectively waiving applicable nonbankruptcy law and overriding contract language to allow assignment without counterparty consent.
Now more than ever, companies have been in distress and facing financial troubles since the COVID-19 pandemic struck the globe.
Mon, 2023-04-24
This panel will focus on disputes regarding engagement as counsel and payment of fees. The panel will cover such issues as unbundling of services, bifurcated fee arrangements and conflicts of interest. The panelists also will discuss a number of ethical issues that have arisen in recent cases.
Wed, 2023-01-11
These overviews from ABI committee experts will arm you with vital information you can use in your practice well into the new year.
Fri, 2022-12-09
This panel will discuss the § 1111(b) election in modern times. It’s not the rule against perpetuities, but it’s also not as simple as your basic loan default. Do you know how to analyze whether making the election makes sense? Perhaps more importantly, do you know how to counsel your client through the process?
Sat, 2022-04-30
Section 506(c) and 552(b) waivers have become a staple in the pre-petition-lender-turned-DIP-lender toolbox. But what are the unsecured creditor’s tools for pushing back, and the arguments for why value that accrued post-petition might properly be reserved for junior creditors?
Tue, 2017-05-30
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.
Tue, 2017-05-30
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.
Sat, 2017-04-22
This session hosted by the Bankruptcy Litigation and Young and New Member Committees will focus on the limits of avoidance actions by bankruptcy trustees in Ponzi scheme cases, including arguments about the expansion of the look-back period to 10 years, trustee standing, clawbacks from noninvestor sources, in pari delicto and how trustees decide whom to sue.
Tue, 2016-11-29
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.
Tue, 2016-05-03
Crossing the Digital Divide: How to Use Social Media to Augment Your Practice
Wed, 2016-03-30
The Unsecured Trade Creditors' Committee's call discussed “gifting” and other recent developments regarding application of the absolute priority rule. In In re ICL Holding, the Third Circuit Court of Appeals recently held that “gifting” is permissible in section 363 sales. Conversely, in prior opinions, both the Second and Third Circuits have held that “gifting” is not permissible in the context of a chapter 11 plan.
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Ms. Bodie B. Colwell
Co-Chair
Preti Flaherty, LLP
Portland, ME
(207) 791-3000
Co-Chair
Preti Flaherty, LLP
Portland, ME
(207) 791-3000
Ms. Christina M. Sanfelippo
Co-Chair
Cozen O'Connor
Chicago, IL
(312) 474-4455
Co-Chair
Cozen O'Connor
Chicago, IL
(312) 474-4455
Mr. Jon Schlotterback
Communications Manager
Mayer Brown LLP
Charlotte, NC
(319) 202-8180
Communications Manager
Mayer Brown LLP
Charlotte, NC
(319) 202-8180
Mr. John T. Baxter
Education Director
Shackelford Bowen McKinley & Norton LLP
Nashville, TN
(615) 329-4440
Education Director
Shackelford Bowen McKinley & Norton LLP
Nashville, TN
(615) 329-4440
Ms. Amber M. Carson
Education Director
Gray Reed
Dallas, TX
(469) 320-6199
Education Director
Gray Reed
Dallas, TX
(469) 320-6199
Mrs. Letson Douglass Boots
Membership Relations Director
Bernstein Shur
Portland, ME
(207) 774-1200
Membership Relations Director
Bernstein Shur
Portland, ME
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Mrs. Christian A. Conway
Membership Relations Director
Neal and Leroy, LLC
Chicago, IL
(708) 250-8120
Membership Relations Director
Neal and Leroy, LLC
Chicago, IL
(708) 250-8120
Ms. Joy D. Kleisinger
Newsletter Editor
Frost Brown Todd, LLC
Cincinnati, OH
(513) 651-6800
Newsletter Editor
Frost Brown Todd, LLC
Cincinnati, OH
(513) 651-6800
Mr. John Richard O'Connor
Newsletter Editor
Levenfeld Pearlstein LLC
Chicago, IL
(630) 308-2487
Newsletter Editor
Levenfeld Pearlstein LLC
Chicago, IL
(630) 308-2487
Ms. Gabrielle G. Palmer
Special Projects Leader
Onsager | Fletcher | Johnson | Palmer LLC
Denver, CO
(720) 457-7059
Special Projects Leader
Onsager | Fletcher | Johnson | Palmer LLC
Denver, CO
(720) 457-7059