COMING UP AT THE SPRING MEETING
APRIL 10 - 12, 2014
LOS ANGELES, CALIFORNIA
Programs Sponsored by the Business Bankruptcy Committee at the 2014 Spring Section Meeting in Los Angeles, CA
JARGONY - Insurance Basics for Business Lawyers
Thursday, April 10, 2014, 8:00 AM - 10:00 AM
Sponsored by the Insurance Subcommittee and Mass Tort and Environmental Claims Subcommittee of the Business Bankruptcy Committee of the ABA Section of
Program Chair/Co-chairs: Robert B. Millner, SNR Denton, Chicago, IL; Margaret M. Anderson, Fox, Swibel, Levin & Carroll, LLP, Chicago, IL.
Moderator: Margaret M. Anderson, Fox, Swibel, Levin & Carroll, LLP, Chicago, IL
Speakers: Peter J. Benvenutti, Keller & Benvenutti, LLP, San Francisco, CA; Leslie A. Davis, Crowell & Moring, LLP, Washington, DC; Jeffrey A. Liesemer,
Caplin & Drysdale Chartered, Washington, DC; Wendy M. Simkulak, Duane Morris, LLP, Philadelphia, PA.
Meeting Materials Coordinator: Margaret M. Anderson, Fox, Swibel, Levin & Carroll, LLP, Chicago, IL
"I will have 'Terms Only an Underwriter Would Know' for $400." Match wits with our panelists as they explore the basic, and the not so basic, insurance
issues every business lawyer should be able to identify. Root for your favorite panelist, learn more about insurance, and its impact on business.
PROGRAM: CHAPTER 11 SUBCOMMITTEE LUNCH:
Winning Strategies in Chapter 11 Bankruptcy Sales: Getting the Most Out of the Section 363 Sales Process.
Thursday, April 10, 2014, 12:30PM - 2:30PM
Sponsored by the Chapter 11 Subcommittee of the Business Bankruptcy Committee
Program Co-Chairs: Sheryl Seigel, McMillan LLP, Toronto, ON; Corinne Ball, Jones Day, New York, NY
Moderator: Hon. Sheri Bluebond, United States Bankruptcy Court for the Central District of California, Los Angeles, CA
Speakers: Mette H. Kurth, Arent Fox LLP, Los Angeles, CA; Richard Pachulski, Pachulski Stang Ziehl Jones, Los Angeles, CA; Joshua S. Scherer, Perella Weinberg
Partners, New York, NY; Mark G. Stingley, Bryan Cave LLP, Kansas City, MO; Teri Stratton, Piper Jaffray & Co., Los Angeles, CA.
Meeting Materials Coordinator: W. Adam Coady, Foster Pepper PLLC, Seattle, WA.
While the disposition of a business in a chapter 11 bankruptcy case has become fairly routine, there are many legal, practical and logistical issues and
challenges that can impede the sale process or create unexpected detours, road blocks or distractions. If you have questions regarding the merits and
ramifications of selecting a stalking horse bidder or allowing a lenders to credit bid, concerns and queries regarding purchase agreements or bid
procedures, doubts or reservations about the merits of hiring an investment banker, crave tips and strategies to facilitate a robust auction or simply wish
to stay current on developing issues and trends, this is THE program for you to attend.
The dynamic and indefatigable Judge Sheri Bluebond will moderate a program populated by seasoned attorneys, Mette Kurth, Richard Pachulski and Mark
Stingley, and well regarded investment bankers, Josh Scherer and Teri Stratton. Our panel will canvass key issues and challenges critical to successfully
navigating the section 363 sales process from the motion to approve bid procedures through to the entry of a final order approving the sale, all the while
providing legal and strategic insights that bankruptcy and business law lawyers will find invaluable.
PROGRAM: SECURED CREDITORS SUBCOMMITTEE LUNCH:
Loan to Own: Distress M&A: How Distressed Debt Investors Utilize the Acquisition of Secured Debt as a Means to Acquire a Target Company in
Thursday, April 10, 2014, 12:30 PM - 2:30 PM
Sponsored by the Secured Creditors Subcommittee of the Business Bankruptcy Committee, as well as the Private Equity and Venture Capital Committee
Program Co-chairs: Susan M. Freeman, Lewis Roca Rothgerber LLP, Phoenix, AZ; Michael H. Reed, Pepper Hamilton LLP, Philadelphia, PA
Moderator: Todd Feinsmith, Pepper Hamilton LLP, Boston, MA
Speakers: Janet E. Bostwick, Janet E. Bostwick, PC, Boston, MA; Ronit Berkovich, Weil Gotshal & Manges LLP, New York, NY; Michael Epstein,
Deloitte CRG, Deloitte Financial Advisory Services LLP, Boston, MA; Larry Klaff, Gordon Brothers Credit Partners, Boston, MA
Meeting Materials Coordinator: Lesley S. Welwarth, Pepper Hamilton LLP, Southfield, MI
The distressed company market has become an increasing fertile market place for distressed investors (Hedge and PE Funds) seeking "buy" opportunities.
Investors utilize a variety of strategies, including acquisition of secured debt, DIP Financing, plan sponsorship and "stalking horse" agreements in
Section 363 sales, to achieve their objectives.
PROGRAM: No More Ad Lib: The Nuts and Bolts of Ad Hoc Committees
Thursday, April 10, 2014, 3:00 PM - 4:00 PM
Sponsored by the Bankruptcy Committees Subcommittee of the Business Bankruptcy Committee
Program Co-chair: Henry Kevane, Pachulski Stang Ziehl & Jones, LLP, San Francisco, CA
Moderator: Hon. Margaret Mann, United States Bankruptcy Court for the Southern District of California, San Diego, CA
Speakers: William K. Harrington, U.S. Trustee for Massachusetts, New Hampshire, Maine and Rhode Island (Region 1), and New York, Connecticut and Vermont (Region
2); Edward S. Weisfelner, Brown Rudnick LLP, New York, NY; Andrew I. Silfen, Arent Fox LLP, New York, NY; Mark Shinderman, Milbank, Tweed, Hadley &
McCloy LLP, Los Angeles, CA
Program Materials Coordinators: Jeffrey T. Kucera, K&L Gates LLP, Miami, FL and Matthew J. Ochs, Holland & Hart LLP, Denver, CO
Creditors or equity holders routinely organize as unofficial or "ad hoc" committees in chapter 11 bankruptcy cases. Rule 2007 contemplates that the
members of a committee organized by creditors before the commencement of a case may later qualify for appointment as a statutory committee but, often, such
committees choose to remain separate. Unlike their counterparts under Section 1102 of the Bankruptcy Code, ad hoc committees are largely unregulated
and, as a result, their purpose, composition and influence remain a regular source of scrutiny and debate. Recent decisions, however, have started to more
closely monitor the role and function of an ad hoc committee in cases with otherwise active official committees. This program will discuss the nuts
and bolts of ad hoc committees and focus on the organization, management, costs, disclosure and ethical issues confronting courts and practitioners.
Particular attention will be given to recent developments in governance, fiduciary duties and compensation. The panelists will provide a core understanding
of these issues and also discuss how evolving views and practices may affect the role of ad hoc committees in the future.
UNCITRAL Projects: A Model Law for Recognition of Insolvency Judgments & Other Recent Developments
Thursday, April 10, 2014, 3:00 PM - 4:30 PM
Sponsored by the Business Bankruptcy Committee Task Force on UNCITRAL and the International Bankruptcy Sub-Committee of the Business Bankruptcy Committee
Program Co-chairs: Christopher Redmond, Husch Blackwell, Kansas City, MO; Charles D. Booth, Professor, Richardson School of Law, University of Hawaii at Manoa, Honolulu, HI
Speakers: Hon. Elizabeth Stong, United States Bankruptcy Court for the Eastern District of New York, Brooklyn, NY; Susan Johnston, Weinstein, Pinson & Riley
P.S., Larchmont, NY; Edward J. Janger, Professor, Brooklyn Law School, Brooklyn, NY
At the Fourth Colloquium held by UNCITRAL in Vienna, Austria, in December 2013, ongoing and future projects were discussed. The UNCITRAL Working Group V
(Insolvency) closed meeting, which followed, held similar discussions. At our joint ABA meeting, we will discuss the results and rankings of projects at
these meetings, including a Model Law for Recognition of Insolvency Judgments.
CEDC Prepack Case Study: Using Chapter 11 to Reorganize a Non-U.S. Business
Friday, April 11, 2014, 9:30 AM -11:00 AM
Sponsored by the Chapter 11 Business Transactions Subcommittee of the Business Bankruptcy Committee
Program Chair/Co-chairs: Mark S. Chehi, Skadden, Arps, Slate, Meagher & Flom, LLP, Wilmington, DE
Moderator: Mark S. Chehi, Skadden, Arps, Slate, Meagher & Flom, LLP, Wilmington, DE
Speakers: Mark A. McDermott, Skadden, Arps, Slate, Meaher & Flom, LLP, New York, NY; Surbhi Gupta, Houlihan Lokey, New York, NY
Meeting Materials Coordinator: Matthew J. Ochs, Holland & Hart LLP, Denver, CO
The meeting panel will describe and discuss the innovative recent prepackaged Chapter 11 reorganization of Central European Distribution Corp., a vodka
distribution business centered in Moscow. This prepackaged financial restructuring transaction included a "reverse Dutch auction" process.
The Changing Face of Chapter 11 and the "Ice Cube Bond" Solution
Friday, April 11, 2014, 2:30PM - 3:30PM
Sponsored by the Administration & Courts Subcommittee of the Business Bankruptcy Committee
Program Chair and Moderator: Sandra A. Riemer, Phillips Nizer LLP, New York, NY; Sidney P. Levinson, Jones Day, Los Angeles, CA
Speakers: Hon. Elizabeth Stong, United States Bankruptcy Court for the Eastern District of New York, Brooklyn, NY; Jonathan M. Landers, Scarola Malone &
Zubatov LLP, New York, NY; Gary E. Klausner, Stutman Treister & Glatt, Los Angeles, CA
The program explores the many changes that have taken place in Chapter 11 cases over the years, with particular emphasis on the growing use of Section 363
sales in lieu of true reorganization, and discusses the "Ice Cube Bond," a proposed method of mitigating the resulting losses to unsecured creditors.
PROGRAM: Current Developments
Friday, April 11, 2014, 2:30 PM - 4:00 PM
Sponsored by the Task Force on Current Developments of the Business Bankruptcy Committee
Program Co-chairs: Martin J. Bienenstock, Proskauer Rose LLP, New York, NY; Judith Ross, Law Offices of Judith Ross, Dallas, TX
Moderator: Martin J. Bienenstock, Proskauer Rose LLP, New York, NY
Speakers: Martin J. Bienenstock, Proskauer Rose LLP, New York, NY; Michael R. Enright, Robinson & Cole, LLP, Hartford, CT; Christopher Combest, Quarles &
Brady LLP, Chicago, IL; Monique D. Hayes, Genovese Joblove & Battista PA, Miami, FL; Robert B. Millner, SNR Denton, Chicago, IL
Meeting Materials Coordinator: Judith Ross, Law Offices of Judith Ross, Dallas, TX
In this highly popular program, Martin Bienenstock will lead a panel discussion of case law developments in Chapter 11 and other cases in the last six
The Appointment of Independent Directors on the Eve of Bankruptcy: Why the Growing Trend?
Saturday, April 12, 2014, 11:00 AM – 1:00 PM
Sponsored by the Corporate Governance, Examiners & Trustees, and the Avoiding Powers Subcommittees of the Business Bankruptcy Committee
Program Co-chairs: Regina Stango Kelbon, Blank Rome, LLP, Philadelphia, PA; Rafael X. Zahralddin-Aravena, Elliott Greenleaf, Wilmington, DE; David Waguespack, Carver,
Darden, Koretzky, Tessier, Finn, Blossman & Areaux LLC, New Orleans, LA; Judith Ross, Law Offices of Judith Ross, Dallas, TX; Bruce Borrus, Riddell
Williams, Seattle, WA
Moderator: Regina Stango Kelbon, Blank Rome, LLP, Philadelphia, PA
Speakers: Former Chief Justice Myron T. Steele, Potter Anderson & Corroon LLP, Wilmington, DE; Mary E. McCutcheon, Farella Braun + Martel LLP, San Francisco,
CA; Keith Maib, Mackinac Partners LLC, Bloomfield Hills, MI; Martin Sosland, Weil, Gotshal & Manges LLP, Dallas, TX;
Program Materials Coordinators: Jeffrey T. Kucera, K&L Gates LLP, Miami, FL and Matthew J. Ochs, Holland & Hart LLP, Denver, CO
The panel will focus on corporate governance issues with respect to struggling companies, and then examine the growing trend in which companies - near or
at the time of insolvency - appoint independent directors to help them navigate difficult situations.
Programs Presented in conjunction with the Young Lawyer Institute and Sponsored or Co-Sponsored by the Business Bankruptcy Committee
INSTITUTE PROGRAM: What Every Business Lawyer Should Know About Avoidance Actions in Bankruptcy
Saturday, April 12, 2014, 2:00 AM - 3:30 PM
Sponsored by the Business Bankruptcy Committee
Program chair: Monique D. Hayes, Genovese Joblove & Battista PA, Miami, FL
One of the goals of bankruptcy is to ensure that similarly situated creditors are treated alike and share in the distribution of debtor assets. Yet,
oftentimes we find that prior to (or even after filing of a bankruptcy petition) the debtor may have transferred assets to third parties and/or select
creditors. This intermediate level program will examine and discuss the bankruptcy trustee's power to avoid such transfers under chapter 5 of the United
States Bankruptcy Code. Among the issues to be discussed are hypothetical lien creditor and bonafide purchaser rights; fraudulent transfers and
for a brochure of all presentations and meetings of subcommittees and task forces of the Business Bankruptcy Committee that will take place at the Business
Law Section Spring Meeting.