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2015 was a busy year for the Business Reorganization Committee. We have an active and involved membership base, and took part in multiple panels, newsletters, publications and networking. We have terrific plans for 2016 and beyond in support of you, our members, in the arena of business reorganizations.
It is no secret that the coal industry is struggling. As coal producers face mounting challenges attributable to restrictive environmental regulations, reduced demand for coal, lower spot prices and significant legacy costs, they are compelled to explore cost-cutting measures and restructuring options.
The Business Reorganization Committee has conducted its first formal survey of the members, and the results are in. To no one’s surprise--but to our gratification--the survey confirms that the members of the Committee consist of a geographically diverse group of restructuring-focused professionals from a cross-section of firms as well as academics and bankruptcy judges. The results have been informative to the Committee’s leadership who continue to take steps to ensure the participants’ feedback is considered and that specific emphasis is focused on continuing and expanding the
The holiday season is fast approaching and it would not surprise me if many of you reading this article receive a gift card at some point during the next couple of months. As you look at that gift card, however, you may find your heart sinking as you recall the numerous retail stores that recently filed for bankruptcy. American Apparel, RadioShack, The Wet Seal, Brookstone, Quicksilver, Ashley Stewart and Delia’s – just to name a few! One issue that all retailers face when filing for bankruptcy is how to deal with claims that arise from outstanding gift cards.
The Asset Sales Committee will host John Hutton and Henry Jaffe as they discuss the GM successor liability decision, now on appeal in the Second Circuit, describing the arguments and positions taken by different parties on key issues in the case and discussing the potential impact of the ruling on appeal.
One of the themes of the Final Report and Recommendations released by the ABI’s Commission to Study the Reform of Chapter 11 is the shift in the balance of power between a distressed company and its creditors, as well as the introduction of perceived inequities among creditor constituencies.
