Claims

Fourth Circuit Says Entireties Property Is Not Exempt from Tax Debt

The lack of perfection of a federal tax lien did not mean that the entireties interest was exempt under Section 522(b)(3).

A Year End Review of the State of The Distressed Investing Market and What Lies Ahead for 2025

The session will review the big deals in distressed investing in 2024 and make some predictions about 2025.
I would envision 3 speakers addressing small, medium and large sized transactions. The panelists would include claims trader, real estate investor, and hard asset (private equity) investor. The moderator could be an attorney that services these constituencies. The distressed investing world provides a significant amount of work for the legal community. I was instrumental in putting together a program for TMA NY that focused on the Private Credit Market which sold out. Debtor Joseph Sarachek joe@saracheklawfirm.com Sarachek Law Firm

Claims Trading: A Renewed Market for Recoveries and Returns

Congress granted creditors a right to an accelerated recovery of their claims through FRBP 3001. This rule is the foundation for selling a bankruptcy claim but, until recently, the integrity and liquidity of the claims market was challenged by an absence of the typical features of modern capital markets. Few creditors were able to identify potential purchasers, conduct price discovery and maximize competition for their claims. Online marketplaces developed, making a global market and rapid price discovery easily accessible, and allowing unrestricted competitive pressures to inform bid/ask price disclosure and immediately actionable supply and demand. Although the market has undergone a significant transformation, a number of recent cases have tested the rules and procedures of bankruptcy courts, clerks and claim administrators to properly manage the tens of millions of claims, and hundreds of billions of dollars owed annually to creditors who enjoy a right to liquidity. • Understanding of the background/context for FRBP 3001
• Understanding of historical market characteristics and functionality
• Understanding of the emergence of online marketplaces
• Discussion of recent cases and the impediments to improved market functionality
• Discussion of opportunities for further market development and improvement
Creditor Suggested Speakers Brian Davidoff bdavidoff@greenbergglusker.com Greenberg Glusker LLP