Bankruptcy Process and Procedure

the Pitfalls of Merchant Cash Advances

Describing the nature of the loans, how they are marketed and the scope of their usage in the marketplace. Addressing legal strategies on how to debtor's and other creditors can use the bankruptcy process to curb the abuses of these lenders. Debtor Suggested Speakers Scott Williams swilliams@rumberger.com RumbergerKirk

Article 9 Sales

Because bankruptcy attorneys are being asked to find non-bankruptcy solutions more and more, to avoid the expense of full-blown bankruptcy, I would love to develop competencies in areas just adjacent to our normal practice area.

Article 9 sales are one area that are so close. I would love to know more. From understanding the goals of private equity/private finance to understanding the nuts and bolts of service requirements, potential litigation tactics that may come in to play after the fact with creditors, to traps for the unwary, I think there is a lot to cover here. Business Jennifer McLemore jmclemore@williamsmullen.com Williams Mullen

Drafting orders: Best practices

We use lots of court approved “form” orders in the Central District of California. But here is a wide variance of opinion among the judges and the attorneys about the proper form of custom orders.

As a side note, many folks still stick “findings of fact and conclusions of law” into orders. That’s a bad habit.

If you need some help, I could put together a program with three judges. Maybe the Hon. Dan Collins, a judge from the Central District of California (maybe Hon. S. Bluebond, Hon. S. Klein, or the Hon. V. Zurzolo), and a judge to be named later. Judge Zurzolo is not often on panels, but he has strong opinions about procedure. I have done panels will all of the named judges.

Blocking and tackling, but well suited to the winter leadership format. Business Suggested Speakers J. Scott Bovitz bovitz@bovitz-spitzer.com Bovitz & Spitzer

The Perils of Late Filed Claims (or even worse, when no claim filed at all)

Many creditors are not filing claims by the claims bar date. This puts debtors in a tough situation especially if the claim filed late (or not filed at all) is for a secured claim such as a house or car. Some courts are reluctant to allow a late filed claim citing limitations of rule 9006. So what can a debtor or creditor do to get a late filed claim (or no filed claim) paid? To discuss why in the post Covid era many creditors are not filing proofs of claims timely and discuss possible solutions. Creditor Suggested Speakers Keith Rucinski Krucinski@ch13akron.com Office of the Chapter 13 Trustee (Akron, Ohio)

History of Rule Making: Restyling Project and How to be a Changemaker

I think to flush this out, I need to speak with someone so explain the angle. The bankruptcy rules have just been restyled and the history and process are very interesting. Also it could be discussed how rulemaking works and how to submit your suggestions for rule changes and the time line etc. It could also be discussed what is currently in the pipeline and maybe even do some polling. I am currently on the Advisory Committee on Bankruptcy Rules and some interesting things are going on. The topic would be a good plenary session and apply to both consumer and business. While it does not fit a particular practice area, the conversation could directed to all practictioners. Other Suggested Speakers Nancy Whaley nwhaley@njwtrustee.com Nancy Whaley Chapter 12 and 13 Trustee

Valuable topics on meaningful themes for legal professionals that all enhance staff engagement, performance, and well-being as well as effective collaboration with the wide variety of stakeholders that legal professionals have to partner with- see below

Mindfulness and stress-reduction
The power of positivity and mental fitness
Understanding, reducing, and managing bias
Effectively managing change and uncertainty
Keys to strengthen your emotional intelligence
Conflict management in the workplace and beyond
Performance management conversations and feedback
Facilitating meaningful conversations on sensitive topics
Understanding and strengthening strategic thinking skills
Appreciating differences – building a neuro-inclusive workplace
Understanding and handling self-doubt and imposter phenomenon All the suggested topics enhance staff engagement, performance, and well-being as well as effective collaboration with the wide variety of stakeholders that legal professionals have to partner with. I'd be honored and happy to send specific learning outcomes for specific topics that are of interest to ABI. Business Suggested Speakers Carolien Moors cpmoors@gmail.com HardTalk Biz Coaching

Health Care Bankruptcy & Restructuring for Creditors

This session will focus on key issues in a health care restructuring or bankruptcy from a creditor's point of view. It will address issues pertaining to both secured and unsecured creditors. Possible topics include: (1) understanding ways health care businesses are financed (receivables financing, municipal bond financing); (2) bankruptcy alternatives (receiverships, ABC, workouts); (3) DIP financing for health care businesses; (4) anticipating regulatory review; (5) issues concerning health care 363 sales; (6) issues facing committees in health care bankruptcy cases; and more. The session will help attorneys who represent creditors understand some of the main issues their clients face with respect to distressed health care businesses and strategies for protecting their interests as the debtor goes through a Chapter 11 case. Creditor Suggested Speakers Jeffrey Fuller jfuller@bloombergindustry.com Bloomberg Industry Group

Investing in litigation finance: A growing alternative asset class

Litigation poses a unique challenge for insolvent, distressed or cash-poor claimants—but high-value claims can be among their most valuable assets. Legal finance allows stakeholders to pursue valuable claims that otherwise may have to be abandoned or settled—thus maximizing recoveries for debtors and for creditors. A legal finance provider can monetize claims for companies in reorganization, fund liquidations or litigation trusts, provide capital to law firms or insolvency practitioners to pursue matters taken on risk and finance inter-creditor disputes.

Litigation finance has become a common and integral aspect of discussions surrounding corporate restructuring. It enables the financing and monetization of litigation rights, treating them as valuable assets that can unlock the value of estate assets for creditors and shareholders. As a result, litigation finance deals are now recognized as a significant alternative investment asset class, offering relatively high and uncorrelated rates of returns. However, it is important to note that investing in legal finance carries its own set of risks.
Presentation provides an overview as well as a deeper dive into current trends and considerations in the litigation finance field, including different forms of funding, what funders look for when evaluating a case for investment and key consideration for those seeking funding. Business Suggested Speakers Christina Madden cmadden@burfordcapital.com Burford Capital

Unlocking incremental value in bankruptcy estates with legal finance

In 2024, as corporate bankruptcies surge in the US, an increasing number of companies are entering bankruptcy with existing litigation assets in addition to avoidance and other claims that arise post-filing. Debtors and creditors should not overlook a tool to generate incremental value for bankruptcy estates: Selling or substantially monetizing large litigations—valuable collateral that has historically been overlooked as a source of incremental value for a debtor.
In this session we will outline some real-life case studies which illustrate the value of legal finance for recovering value for bankruptcy estates.
MagCorp: A mining firm had been involved in a long-standing lawsuit against its former holding company, accusing them of driving them into bankruptcy. After winning a $213 million judgment, MagCorp's bankruptcy trustee faced a shortage of funds to continue pursuing the case. To address this cash flow issue, the trustee and their attorney organized a groundbreaking public auction to sell an interest in the right to receive litigation recoveries from the $213 million judgment on appeal. The sale, which amounted to $26.2 million, allowed the estate to liquidate a portion of its contingent asset, mitigate the risk of the appeal, and ensure a minimum recovery for MagCorp's creditors.
Maines: A large food service distributor filed for voluntary bankruptcy following increased business pressures due to Covid-19 restaurant closures and was acquired by another company. The main assets in the estate were a portfolio of various food antitrust claims that would be hard for the company to pursue due to a lack of personnel and time constraints. The appointed trustees were able to distribute the cash proceeds from the sale of the litigation assets directly to creditors—generating liquidity that they would otherwise not have been able to access and delivering an accelerated and guaranteed financial result ahead of case resolution.
Cox Operating LLC: The recent 363 auction process run by the debtor and its advisor Moelis & Company in the In re: MLCJR LLC Chapter 11 bankruptcy for MLCJR’s subsidiary Cox Operating LLC’s pre-filing litigation claim generated substantial incremental liquidity for the debtor from a litigation claim that in the past may have been overlooked as an independent source of value.
Making various parties of interests to a particular bankruptcy aware of their optionality around unlocking the value of litigation assets through monetization or sale of those assets. Other Suggested Speakers Christina Madden cmadden@burfordcapital.com Burford Capital

Disclosure: What are our obligations to disclose when we know?

The ethical issues involving Judge David Jones in Texas are in the news all over the world. What lessons to we learn? What obligations do professionals -- both practitioners and judges have to question "connections"? How do we protect our industry which is built on transparency, notice and fairness? What happens when we fail to protect it? Does the public shrug their shoulders and figure that none of it is fair and only the powerful benefit? The mistrust hurts us all and especially in a court system that sees more businesses and individuals than any other. Are we destroying ourselves by regarding this as more of a game and forgetting that this is a profession that is built on trust? What should professionals and judges consider for disclosure of "connections"?
How do we determine what should be disclosed?
How do we live within our ethical obligations while providing the best representation of our clients? Business Suggested Speakers Deborah Thorne deborah_thorne@ilnb.uscourts.gov United States Bankruptcy Court NDIL