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| vol 15, num 2 | May, 2017 |
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| Res Judicata and Claim Objections |
One of my very favorite things about bankruptcy practice is that it seems that for every decision from any particular court, you can usually find another decision from another court holding to the contrary. Divergent bankruptcy decisions often result from nuanced facts particular to the specific case. The differences between bankruptcy decisions, therefore, are sometimes more accurately characterized as “superficial” differences.
A recent and interesting case out of the Fifth Circuit, Kipp Flores Architects LLC v. Midwest-Continent, addresses the impact of uncontested proofs of claim with regard to the doctrine of res judicata as to third parties in no-asset chapter 7 cases. |
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| Delaware Bankruptcy Court Issues Latest Decision Approving Plan with “Death Trap” |
| One of a plan proponent’s primary tasks in the confirmation process is seeking the acceptance of creditors whose claims would be impaired under the proposed plan. The Bankruptcy Code’s list of prerequisites for confirmation includes the requirement that each class of claims either “has accepted the plan” or “is not impaired under the plan.” The Bankruptcy Code contains one exception to this requirement: The court may confirm a plan over the dissent of one or more impaired classes if the plan meets the cramdown requirements of § 1129(b). But even in a cramdown scenario, the Bankruptcy Code still requires that “at least one
class of claims that is impaired under the plan has accepted the plan.” |
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At this year's Annual Spring Meeting, Paul Hage, immediate Co-chair of the Unsecured Trade Creditors Committee, was given the "Committee Leader of the Year" award for his continued efforts with the committee. With the help of his leadership team, Paul led the UTC to a successful year that included publishing 5 newsletters and a “Representing the Creditors' Committee: A Guide for Practitioners”, opening the first committee LinkedIn group, and hosting bi-monthly committee calls and two webinars. Paul will now join the Technology & Intellectual Property Committee as Education Director. Congratulations, Paul!
The Commercial Fraud Committee was recognized as "Committee of the Year" for all the work that was completed in 2016. During 2016, the Commercial Fraud Committee was able to publish a total of 8 newsletters, co-host a networking reception at the Winter Leadership Conference, host two
webinars, and hold several committee calls on a variety of topics.
In the photo above at left, Rick Rein (Education Director, Commercial Fraud) and Paul Hage (right - Co-chair, UTC) receive their leadership awards from Scott Williams (center), ABI's immediate Vice President of Membership. |
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| Nobody Likes to Face Rejection: Recent Issues Regarding Executory Contracts |
The Financial Advisors and Investment Banking and Real Estate Committees recently held a session at this year's Annual Spring Meeting titled "Nobody Likes to Face Rejection: Recent Issues Regarding Executory Contracts." This session focused on recent case law developments in the area of executory contracts. The panelists discussed issues concerning gathering agreements and the Sabine Oil decision, collective bargaining agreements, telecommunication agreements and more.
Speakers for this panel included:
- Sharon L. Levine - Saul Ewing LLP; Newark, NJ
- Shane G. Ramsey (Moderator) - Nelson Mullins Riley & Scarborough, LLP; Nashville, TN
- Sarah A. Schultz - Akin Gump Strauss Hauer & Feld LLP; Dallas
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ABI is looking for innovators, disruptors and risk-takers who are creating change in our industry. Candidates will be distinguished by professional achievements and service, and will be selected by a group of experienced professionals from ABI’s leadership. The person does not have to be an ABI member to apply or to be nominated. Submissions are due July 31.
Help us find the future leaders of our industry - nominate a rising star! |
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©2017 American Bankruptcy Institute . All rights reserved.
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