Significant Liquidating Trusts & Post Confirmation Issues in Bankruptcies in 2017
Post-confirmation liquidation and litigation trusts prove to be effective tools in working out certain issues in a Chapter 11 Case. Section 1123(b)(3)(B) of the Bankruptcy Code authorizes the creation of such trusts, given that there had been a well-devised reorganization plan that clearly identifies the claims and interests of both parties. The primary purpose, of course, is to make even distribution of trusts to beneficiaries.
Liquidating trusts are organizations made to liquidate assets transferred for distribution to the beneficiaries. These are effective in winding down businesses included in a Chapter 11 case, and enterprises that dissolve outside of bankruptcy. In sum, may it be a product of a bankruptcy plan or not, there are factors that must be considered in liquidating trusts. In addition, because of the increasing frequency, certain aspects may not be given emphasis and due attention in an imminent Chapter 11 case, resulting to issues in post-confirmation of the plan.
The Knowledge Group has assembled a panel of key thought leaders to provide the audience with an in-depth analysis of significant liquidating trusts and post confirmation issues in bankruptcies. In this two-hour LIVE Webcast, a panel of distinguished professionals and thought leaders will help trusts beneficiaries understand the important aspects of this significant topic. Speakers will also offer best practices in establishing and structuring trusts agreements and bankruptcy disclosures to aid in a better establishment of trusts.
This one-hour webcast will discuss the following key provisions:
- Definition of Post Confirmation and Liquidation Trusts
- Overview of the Section 1123(b)(3)(B) of the Bankruptcy Code
- Refresher on Chapter 11
- How it is started and how it works
- Structuring Trusts Agreement
- Why are Trusts Necessary?
- Importance of Creating Liquidating Trust
- Significant Post Confirmation Issues
- Effective Date
- Post-Confirmation Jurisdiction
- Post-Confirmation Litigation Vehicles
Robert N. Michaelson, Partner
Rich Michaelson Magaliff Moser, LLP
Eric Moser, Partner
Rich Michaelson Magaliff Moser, LLP
- Overview of Liquidating Trusts and the Evolution of Chapter 11 cases
- Extent of Court oversight of Liquidating Trusts
- Access to the traditional powers of a bankruptcy trustee: (i) 505 tax determinations; (ii) 2004 examinations; (iii) jurisdictional issues.
- Drafting tips: (i) conflicts of interest; (ii) compensation and indemnification; (iii) the role of advisory committees; (iv) the retention and compensation of professionals.
- Potential liability of trustees and advisory committee members.
SEGMENT 2: Ronald R. Peterson, Partner
Jenner & Block LLP
- Tax implications
- The Bankruptcy ?Court’s retained subject matter jurisdiction
- The Liquidating trust’s standing to bring avoidance actions
- Can the statutory trustee by the contract trustee, a Sentimental problem
SEGMENT 3: Henry Jaffe, Partner
Pepper Hamilton LLP
- Preference Actions
- Fraudulent Transfer Actions
- 549 Actions
- Setoff Avoidance
- Unperfected Lien Avoidance and Actions to Determine Validity, Perfection and Priority of Liens
- Breach of Fiduciary Duty Actions
- Claims Objections
- Discharge Injunction Litigation
Who Should Attend:
- Bankruptcy Lawyers and Practitioners
- Bankruptcy Professionals
- Litigation and Liquidation Officers
- Attorneys, Practice Area: Litigation
- Practitioners (representing post-confirmation trusts)
- Legal Counsel
- Legal Advisers
- Other related/interested Professionals
Robert has 35 years of experience as a bankruptcy, creditors' rights and restructuring attorney. His practice also includes general commercial litigation in both the state and federal courts as well as corporate matters. Over the course of his career he has had significant involvement in some of the largest and most complex bankruptcy proceedings representing debtors, creditors, trustees and creditors' committees, and has also represented small and medium sized businesses and individuals. In addition, he has served as a post-confirmation litigation trustee. He is also am the author of a number of professional articles on bankruptcy and related topics and enjoys a peer rating of AV from Martin-Hubbell, the highest ranking for legal skill and professional ethics.
Robert has 35 years of experience as a bankruptcy, creditors' rights and restructuring attorney. His practice also includes general commercial …
Eric T. Moser focus his practice in the areas of bankruptcy, commercial litigation and arbitration, financial restructuring, and creditors' rights. He has more than 17 years of experience representing debtors, creditors, shareholders, committees, and trustees in all manner of bankruptcy and creditors'-rights related matters. He was a former partner in a major international law firm, and his experience includes mediation, arbitration, and litigation in the bankruptcy and other federal and state courts, as well as various appellate forums, including the Second, Third and Sixth Circuits.
He also has substantial experience providing clients with advice and counsel regarding a wide variety of commercial transactions, including issues arising under the Uniform Commercial Code involving the purchase and sale of goods, consignments, negotiable instruments, bank deposits and collections, letters of credit, warehouse receipts and bills of lading, and secured transactions. In addition, he have substantial transactional experience, having represented parties in connection with out-of-court workouts and restructurings, distressed asset acquisitions and sales, securitizations, and the use of bankruptcy-remote entities.
He has authored numerous articles and chapters in legal treatises regarding bankruptcy and creditors' rights issues, and am a frequent speaker at professional conferences.
Eric T. Moser focus his practice in the areas of bankruptcy, commercial litigation and arbitration, financial restructuring, and creditors' rights. He …
Mr. Peterson concentrates his practice in the areas of commercial, insolvency and bankruptcy law. He is the Vice President of the National Association of Bankruptcy Trustees and a fellow of the American College of Bankruptcy.
Mr. Peterson has been a member of the panel of Chapter 7 Trustees for the Northern District of Illinois, Eastern Division, since 1987. He has presided over numerous complex commercial cases, including Stotler & Co., the country’s 10th largest commodities house, and Lancelot Investment, a $1.7 billion Ponzi scheme. Mr. Peterson has also served as examiner in Robert Lund, a large real estate developer and is the Chairman of the Creditors’ Committee in Thomas J. Petters, a $3.5 billion Ponzi scheme. Mr. Peterson is a member of the American Bankruptcy Institute, Commercial Law League of America and the Business Bankruptcy Committee of the Business Law Section and the Bankruptcy Litigation Committee of the Litigation Section of the American Bar Association. He is a Director of the National Association of Bankruptcy Trustees and is also a member of INSOL (International Association of Restructuring, Insolvency & Bankruptcy Professionals).
Mr. Peterson concentrates his practice in the areas of commercial, insolvency and bankruptcy law. He is the Vice President of …
Henry Jaffe is a partner in the Corporate Restructuring and Bankruptcy Practice Group of Pepper Hamilton LLP, resident in the Wilmington office.
Mr. Jaffe represents various types of clients in bankruptcy matters, including debtors, trustees, creditors’ committees, as well as secured, unsecured and administrative claimants. He has defended and prosecuted numerous avoidance actions throughout the country and assisted creditors with various issues including complex executory contracts and leases. Mr. Jaffe has also been counsel for receivers in federal and state receivership actions,
Mr. Jaffe is a frequent author and lecturer. For over a decade he has co-authored the article covering recent case developments on preferences for Norton’s Annual Survey of Bankruptcy Law. He also published feature articles in Law 360 and authored the chapter on Delaware state court receiverships in the treatise Strategic Alternatives For and Against Distressed Businesses. Mr. Jaffe is a frequent author and lecturer for The Knowledge Group on a broad range of topics of interest to creditors and parties in bankruptcy cases.
Henry Jaffe is a partner in the Corporate Restructuring and Bankruptcy Practice Group of Pepper Hamilton LLP, resident in the Wilmington …
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Method of Presentation:
Experience in bankruptcy
NASBA Field of Study:
Finance - Technical
NY Category of CLE Credit:
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About Rich Michaelson Magaliff Moser, LLP
Rich Michaelson Magaliff Moser, LLP, located in New York City, focuses on various aspects of commercial law, with specific concentrations that include commercial litigation and transactions, financial restructuring and bankruptcy, asset-based lending and equipment leasing. Its clients include corporate and other business entities, lenders, asset acquirers, investors, creditors, trustees and board members. It also serves as outsourced general counsel for companies in diverse sectors and works collaboratively with other law firms.
About Jenner & Block LLP
Jenner & Block is a law firm with global reach, with more than 500 lawyers and offices in Chicago, London, Los Angeles, New York and Washington, DC. The firm is known for its prominent and successful litigation practice and experience handling sophisticated and high-profile corporate transactions. Firm clients include Fortune 100 companies, large privately held corporations, financial services institutions, emerging companies and venture capital and private equity investors. In 2016, The American Lawyer named Jenner & Block to the A-List, which recognizes the top 20 US law firms. The American Lawyer also recognized the firm as the #1 pro bono firm in the United States six of the past nine years; the firm has been ranked among the top 10 in this category every year since 1990.
About Pepper Hamilton LLP
Pepper Hamilton LLP is a multi-practice law firm with more than 500 lawyers nationally. The firm provides corporate, litigation and regulatory legal services to leading businesses, governmental entities, nonprofit organizations and individuals throughout the nation and the world.
Pepper’s Corporate Restructuring and Bankruptcy Group is an integrated network of more than 35 professionals and support personnel who focus exclusively on all aspects of reorganizations, bankruptcies, restructurings, workouts and buyouts. Our team is national in focus, appearing regularly in bankruptcy courts throughout the country. We are experienced in insolvency matters involving a wide range of industries, with particularly notable experience in the food, asbestos, energy, construction, manufacturing, health care and automotive industries. Our clients include large national and international public and privately held corporations, as well as governmental entities, small businesses and individuals.