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| vol 15, num 4 | December, 2017 |
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| A Year-End Letter from Your Co-chairs |
This has been another great year for ABI’s Young and New Members Committee. First, as co-chairs we would like to thank our committee members and leadership for their support and continued participation over the last year. Our committee would not be able to accomplish what it accomplishes without your support and contributions. Our committee is always looking for contributions to the newsletter, suggestions for presentation topics and help producing webinar content. If you are interested in contributing to the committee, please reach out to any of the committee leaders. Their contact information can be found on
the Young & New Members Committee webpage.
Here are a few highlights from the committee’s activities over the last year:
Newsletter
With contributions from our committee members, we published nine original newsletter articles in 2017. These articles were helpful to, and well received by, our young and new members and we thank everyone who submitted articles. We are always looking for articles that provide up-to-date analysis of the emerging hot topics in the restructuring world, and we welcome your submissions. The committee’s newsletters can be found on the Young & New Members Committee page.
Committee Education Sessions
At the 2017 Annual Spring Meeting, we paired with the Litigation Committee to present Long Claw of the Law: The Limits of Clawback Actions which discussed recent developments in Ponzi scheme litigation. Our panelists were Melissa Davis, CPA, CIRA, CFE (KapilaMukamal, LLP; Ft. Lauderdale, FL), Richard Milin (DiConza Traurig and Kadish; New York, NY), Peter Russin (Meland Russin & Budwick PA; Miami, FL) and Robert Wing (Office of Attorney General; Salt Lake City, UT).
For Winter Leadership Conference 2017 we paired with the Consumer Bankruptcy Committee to present Thorny Issues in an Individual Chapter 11 Case for a discussion around challenging issues in individual chapter 11 cases such as the absolute priority rule, conflicts of interest, appointment of a trustee and plan feasibility. Our panelists were the Honorable Scott C. Clarkson (Moderator)(U.S. Bankruptcy Court for the Central District of California; Santa Ana, CA), Steven Finestone (Finestone Hayes LLP; San Francisco, CA), Charlie M. Forman (FormanLaw, LLC; Paramus, NJ), Gary M. Kaplan (Farella Braun + Martel LLP; San Francisco, CA), and the Honorable Deborah J. Saltzman (U.S Bankruptcy Court for the Central District of California; Los Angeles, CA).
Both panels provided an insightful discussion and we thank all of our panelists for the time and contributions to successful committee education sessions.
2017 Special Projects
On February 2, 2017, the committee partnered with the Secured Credit Committee to present a webinar exploring various issues arising in connection with intercreditor agreements, including issues concerning standing and jurisdiction, enforceability in bankruptcy, and state court remedies. We had a great turnout from our committee for the webinar.
Planning for 2018
The committee is already at work planning for 2018. The committee is hosting a webinar in the spring on professional fee issues under ASARCO and more recent case law. Stay tuned for more details about the exact webinar date. The committee will be pairing with the Litigation Committee at the 2018 Annual Spring Meeting for a discussion revisiting the Stern decision in light of In re Millennium Lab Holdings and other recent case law. Looking further ahead, the committee will be pairing with the International Committee for a primer on cross-border insolvencies at Winter Leadership Conference 2018.
Over the course of the coming year, we will continue to identify ways for our committee members to get involved. Newsletter articles are a great way to become involved, so please contact our Newsletter Editor, Brendan Gage, with your ideas and submissions. We also invite you to share with us any other questions or thoughts that you may have regarding the Young and New Members Committee or ABI in general.
We look forward to meeting and working with more of you in the future. If we can be of help to you, please do not hesitate to reach out to us. |
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| Hanjin Sends Emergency S.O.S: Provisional Relief in § 1519(a) of the U.S. Bankruptcy Code |
| International companies are increasingly using chapter 15 of the U.S. Bankruptcy Code to implement cross-border restructurings. In many of these cases, debtors have sought provisional relief pursuant to § 1519(a) of the Bankruptcy Code to stabilize their business operations during the first days and weeks of a chapter 15 bankruptcy case. Section 1519(a) provides that “the court may, at the request of the foreign representative, where relief is urgently needed to protect the assets of the debtor or the interests of the creditors, grant relief of a provisional nature.” For young practitioners, the recent chapter 15 case
of Hanjin Shipping Co. Ltd. demonstrates the effectiveness of obtaining provisional relief under § 1519(a) when creditors are aggressively pursuing assets of the debtor in multiple jurisdictions. |
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Is there a way you can quickly peruse the Bankruptcy Code, Rules and local rules? Indeed, there is: ABI’s new and improved law.abi.org site! ABI's Law site has always been the most reliable, up-to-date online Code and Rules, but now it has a new look and brand new features.
As before, ABI members can access, annotate and bookmark the Code and Rules from any device, and Law contains all of the new amendments effective December 1. The newly designed site now also allows members to:
- view local rules for all 50 states and territories (new!);
- read corresponding pertinent Collier case updates (from LexisNexis), Rochelle’s Daily Wire analyses and cross-references from ABI’s Volo site (new!); and,
- cut and paste sections easily into documents and e-mails (new!).
Best of all, Law is portable and always current, so you can reference it whenever and wherever you need it! Visit law.abi.org today! |
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ABI is pleased to announce the inaugural class of its “40 Under40” initiative. The honorees were recognized at a special luncheon during ABI’s 2017 Winter Leadership Conference. Candidates were chosen from both large and small firms from every region of the country, and represent diverse practice areas such as law, finance, consulting, academia, government and more.
A special congratulations to ourABI member committee leaders who were part of the inaugural class!
Take a look at our full list of outstanding honorees!
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| Year-End Giving: ABI Offers Two Ways to Give Back |
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ABI has two great opportunities for those who are looking to give back to their communities. We invite you to offer your year-end giving to one of the tax deductible organizations below.
 The ABI Endowment Fund was created in 1989 to provide resources for research and education. Named to honor late Vice President of Development Tony Schnelling, the Endowment has awarded more than $3 million in grants, prizes and scholarships since its first award in 1990. For more information on the Endowment, click here. To donate now, click here.
 Credit Abuse Resistance Education (CARE) is a national 501(c)3 non-profit that connects bankruptcy and other professionals with young people to teach basic personal finance and encourage smart credit decisions. Founded in 2002, by now-retired U.S. Bankruptcy Court Judge John C. Ninfo II, CARE has grown exponentially and has doubled its chapter presence in the last year.
Financial literacy is crucial to the success of the next generation and your financial support of CARE goes a long way to preparing our future leaders. Donating is easy at www.care4yourfuture.org/care-support.
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| ABI has a new publication aimed at business practitioners and their clients. A Business Creditor’s Guide to Distressed Vendors, Debt Collection and Bankruptcy provides an insider’s look into the options available to help screen a business’s customers, plan for worst-case scenarios, and, if the situation does arrive, efficiently handle the fallout. This book offers background and insight into such matters as why businesses
fail, the Fair Debt Collection Practices Act and other statutes that affect a business’s relationship with its vendors, relevant chapters of the Bankruptcy Code that affect debt settlement, out-of-court alternatives to bankruptcy that might come into play, and several other concepts that business owners should be aware of when dealing with distressed vendors. The book is available for pre-order now, and ships at the end of December. |
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©2017 American Bankruptcy Institute . All rights reserved.
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