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?
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.
These overviews from ABI committee experts will arm you with vital information you can use in your practice well into the new year.
“It’s like déjà vu all over again.”
— Yogi Berra
I’m a creature of habit, to be sure. It wouldn’t be the holidays without talking about a classic holiday movie: Frank Capra’s 1946 classic It’s a Wonderful Life. It’s the story of George Bailey, who inherits the Bailey Building & Loan Association founded by his father in the 1940s, and who forgoes his dreams of traveling the world to instead help the multicultural residents of fictional Bedford Falls, N.Y., realize the dream of home ownership.
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 ... and close such estate as expeditiously as is compatible with the best interests of parties in interest.” [1] Chapter 7 trustees must also investigate the financial affairs of the debtor and evaluate any potential assets. [2]
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. However, in addition to creating subchapter V and making it easier for small businesses to reorganize, the SBRA also revised § 547(b) of the Bankruptcy Code with little fanfare associated with the change.