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This panel provides an in-depth, dynamic discussion on (1) forensic analyses employed to identify and untangle fraud and maximize recoveries; (2) standing to bring certain claims in fraud cases; (3) claims often pursued in Ponzi and other fraud cases, including aiding and abetting fraud, aiding and abetting breach of fiduciary duty, and conspiracy; (4) the Ponzi scheme presumption, clawback and defenses; and (5) in pari delicto and its applicability, along with other potential defenses.
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.
In 2024, the Secured Credit Committee assisted with ABI’s educational programming by teaming up with the Business Reorganization Committee and the Unsecured Trade Creditors Committee at ABI’s 2024 Annual Spring Meeting for a session titled, “Working Together: Collaboration Between Secured Creditors and Unsecured Constituents.” This panel discussed the history of secured and unsecured creditors’ relationships in bankruptcy cases, and provided examples of recent cases where parties were able to work together.
This panel will discuss the historical relationship between secured and unsecured creditors in reorganization cases, and explore recent instances where the groups have worked together to create value for their constituents. The panelists will include an overview of the key positions taken by each group, and will provide first-hand descriptions of how the constituents were able to achieve consensus.
Under § 506(a)(1) of the Bankruptcy Code, a secured creditor’s claim is secured only to the extent of the collateral’s value. Any amount over that value is bifurcated into a separate unsecured claim [1].
We can hardly believe that 2023 is coming to an end.
This year, the Secured Credit Committee has been involved with programming for ABI’s conferences. The Secured Credit Committee co-sponsored a session at the ABI’s 2023 Annual Spring Meeting with the Commercial Fraud Committee titled, “Oh No, We Have a Fraud — What Now?” This panel — comprised of lawyers in private practice and consultants that serve as CROs and trustees, as well as a U.S. Trustee — compared and contrasted the roles of various fiduciaries when there is evidence of fraud in a bankruptcy case.
This panel will delve into issues involving digital accounts, cryptocurrency and NFTs, including how to getsecured and perfected, how to liquidate, and bankruptcy-specific considerations. The panelists also will discuss UCC Article 12 and its impact on the digital-asset world for secured parties, and help practitioners better understand the considerations and issues they should be spotting when advising their constituents on dealing with digital assets.
