Disclosure statements are generally longer than the plan and also contain the exact same provisions in the plan and do not really provide any more information to a creditor to help him/her/it make an informed choice when deciding to vote to accept or reject a plan. Do disclosure statement need to restate the entire case? Can't they be simplified so that they are easier to understand. In the end, creditors want to know the following: (a) how much am I getting; (b) when am I getting it; and (c) what are conditions are before my distribution is received.
Creditor
John
Lucas
jlucas@pszjlaw.com
Pachulski Stang Ziehl & Jones
This panel would discuss the basic ins and outs of privilege to set the table. However, the more interesting issues arise in the following context: (i) do Members of an LLC have access to privileged info; (ii) do former board members have rights to privileged info; (iii) does a trustee of an individual have right to an individual debtor's privileged information; (iv) is a trustee required to turnover his/her privileged information to a debtor after it retakes possession; (v) can a mediation privilege be used to cloak an entire bankruptcy cases so that all information is immune from discovery from non-mediation parties or its adversaries.
Business
John
Lucas
jlucas@pszjlaw.com
Pachulski Stang Ziehl & Jones
Committee Chairs: Connor Bifferato and Edward Schnitzer
Communications: Mo Bauer and Emily Wall
Education: Sylvia Mayer and Steve Sather
Member Relations: Annmarie Chiarello and Kevin McCarrell
Newsletter: Joseph Orbach and Kara Casteel
Special Projects: Hon. Christopher Sontchi (ret.) and Frank Monaco
Planning Meetings
When a judge takes the bench, he/she leaves part of his/her life behind because judges generally feel they must insulate themselves from ex parte contact. This panel would focus on how practitioners and judges can and should: interact inside the courtroom (standing at podium v. sitting at counsel table), communicate with chambers (emails or telephone calls with courtroom deputy, law clerk, or judge), interact and collaborate at educational events (jointly preparing educational materials, attending public but semi-private luncheons/dinners that are paid by law firms), and interact in both public and private settings (dinners, entertainment (sporting events), general social interaction).
There is a lot to talk about. Perhaps a plenary session that runs longer (1.5 hours); three judges and three lawyers; no financial advisory professionals.
Business
Suggested Speakers
John
Lucas
jlucas@pszjlaw.com
John
Lucas
jlucas@pszjlaw.com
Pachulski Stang Ziehl & Jones
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.
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]
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. Well-established federal law protects certain contracts (commonly IP contracts) from being assigned in a chapter 11 or other bankruptcy proceeding without counterparty consent.
Following decisions in 2021 from both the Delaware District Court and the Southern District of New York rejecting the Ninth Circuit’s controversial Sherwood Partners decision, [1] it appears that rumors of ABC state preference actions’ deaths have been greatly exaggerated. [2] State preference actions are indeed alive and well.
