Using and Challenging Expert Witness Testimony in Bankruptcy Litigation: Winning Strategies
Bankruptcy litigation is different from other types of lawsuits in several aspects. These differences, including the less formal setting, the fact that cases are non-jury bench trials and hearings, and the different procedural rules for contested matters, affect how a bankruptcy court handles expert witnesses as well as how litigators handle their experts throughout discovery and at trial.
In using or challenging an expert’s testimony, litigators need to be well versed about the applicability of the Daubert Rule in bankruptcy litigation as well as requirements for expert disclosures.
In this Webcast, The Knowledge Group brought together a team of distinguished thought leaders and professionals to help the audience understand effective and proper handling of expert witnesses in bankruptcy litigation. Speakers will also provide the best strategies on how attorneys can use or challenge an expert’s testimony.
Some of the major topics that will be covered in this course are:
- Expert Witness Testimony in Bankruptcy Litigation: Fundamentals
- Recent Judicial Trends and Developments
- The client/expert perspective
- Common Pitfalls
- Using or Challenging an Expert Testimony: Best Strategies
- What Lies Ahead
- Determine important facts about expert testimony such as its necessity in bankruptcy litigation, related discovery, and common challenges
- Recognize various issues in proving solvency in fraudulent transfer cases
- Identify the legal and practical considerations in using expert witness testimony in bankruptcy
Mark N. Parry, Partner
Moses & Singer LLP
John Morris, Partner
Pachulski Stang Ziehl & Jones LLP
James Feltman, Managing Director
Duff & Phelps
- General Discussion of Daubert and rules applicable to the admission of expert testimony
- The view from the client/expert side with case studies
- Brief background for JSF BKC trustee 7 and 11’s; plaintiff in over 1000 adversary proceedings; and Serve as a consulting and expert witness for >30 yrs.
- Standards for CPA/CFE and Valuation experts AICPA statement on consulting services-litigation CFE-prof standards and ethics USPPAP valuation principals
- Looking Beyond Daubert Touching briefly on the basics, and Understanding how courts look to apply the Daubert principal to the experts report
- Case Study I- Basell/Lyondell opinion; USBC SDNY Judge Glenn How the Court approached evaluating the various experts reports in pre-trial rulings in the order following trial, and Why I find this opinion so instructive-lessons learned
- Case Study II- UCC in Iridium v. Motorola ; USBC SDNY Judge Peck How the Court evaluated the capital markets, expert reports and theories advanced by the Experts Themes and lessons learned from this opinion
- Practice Tips, including:
- Differences between contested matters and adversary proceedings in bankruptcy cases
- Considerations in deciding whether to challenge an expert’s qualifications or opinions prior to trial
- Addressing the client/expert divide in bankruptcy cases (to the extent I can build on Jim’s presentation)
- Attacking qualifications and methodologies in deposition and at trial
Who Should Attend:
- Trial Attorneys
- Legal Counsel
- Bankruptcy Lawyers and Practitioners
- Bankruptcy Professionals
- Senior Management
Mark N. Parry is Chair of Moses & Singer's Dispute Resolution Practice Group and a partner in the Business Reorganization, Bankruptcy and Creditors' Rights practice group.
Mark has over thirty years of experience in bankruptcy, insolvency and creditors' rights matters. He has represented numerous clients before various United States District Courts and Bankruptcy Courts in connection with proceedings under both Chapter 7 and Chapter 11 of the Bankruptcy Code. His experience includes the representation of secured and unsecured creditors, holders of public debt, indenture trustees and official committees of unsecured creditors. Mark also has substantial experience in Chapter 15 proceedings and cross-border insolvency proceedings.
Mark has participated in a wide variety of litigation in federal and state courts involving fraudulent conveyance actions, breaches of fiduciary duty, secured and unsecured financings, letters of credit, foreclosures and the enforcement of guaranties. He has successfully represented both plaintiffs and defendants in litigation arising from failed leveraged buyouts. Mark has substantial experience in inter-creditor disputes and the laws governing in fiduciary duties of directors of insolvent corporations. He also has significant experience with regard to the duties of corporate directors under Delaware law. Mark has actively represented defendants in litigation arising from the Madoff ponzi scheme, including direct investors in BLMIS and indirect investors in feeder funds, such as Fairfield Sentry Limited.
Mark has been appointed to the Mediation Panel of the United States Bankruptcy Courts for the Southern District of New York and the District of Delaware. While serving as the mediator, Mark has successfully resolved numerous disputes.
He is recognized as an AV® Preeminent™ Rated lawyer and one of New York's Top Rated Lawyers by Martindale-Hubbell.
Mark N. Parry is Chair of Moses & Singer's Dispute Resolution Practice Group and a partner in the Business Reorganization, …
John Morris, Partner at Pachulski Stang Ziehl & Jones, has considerable experience litigating complex business, commercial, and bankruptcy-related matters, including contested sale motions, breach of contract and breach of fiduciary duty cases, valuation disputes, fraudulent transfer and preference cases, and claim objections. As lead trial counsel, Mr. Morris has tried numerous cases in bankruptcy, federal, and state courts, and has arbitrated and mediated numerous matters. In addition, Mr. Morris has been actively involved in several matters originating from the Cayman Islands, including the representation of liquidators of certain investment funds in substantial commercial litigation in the United States, as well as several cases arising under chapter 15 of the Bankruptcy Code.
John Morris, Partner at Pachulski Stang Ziehl & Jones, has considerable experience litigating complex business, commercial, and bankruptcy-related matters, including …
James “Jim” Feltman, CPA, CFE, CFF, is a managing director in the Disputes and Investigations practice. He has over 30 years of experience providing a broad range of litigation, forensic and investigative services. Recently, Jim was named a Top 25 Consultant in the “Excellence in Client Service” category for 2015 by Consulting Magazine.
Jim provides both consulting and expert testimony specializing in the areas of money laundering, Ponzi schemes, asset tracing and recovery, accounting and financial statement reporting issues, causes of action against officers, directors and third parties, securities fraud, misrepresentation, hedging and trading in complex securities schemes and bankruptcy and insolvency issues. He has substantial experience leading cross-border forensic and investigative engagements on behalf of U.S. and foreign government agencies and is an established expert in determining the underlying fact pattern, establishing liability and determining damages in myriad engagements.
Jim has served as an appointee with a branch of the United States Department of Justice for over a decade. He has been appointed as an advisor by both Federal (U.S. District and U.S. Bankruptcy) and State Courts, served as an arbitrator and mediator and has been appointed as a Monitor by the U.S. Federal Trade Commission (FTC). Mr. Feltman has worked extensively in Latin America, on behalf of sovereign authorities in Venezuela, Chile and Peru as well as for private parties in both investigations and disputes.
Jim is an author and frequent speaker on a variety of litigation topics relating to bankruptcy, restructuring, securities and regulatory. He has been interviewed and quoted by various media outlets including The Wall Street Journal, Bloomberg, NPR, CNN, CNBC, and Bankruptcy Law360. Jim co-authored a chapter entitled "How to Write an Effective Report" in the 2015 Fraud and Forensic book published by the American Bankruptcy Institute "ABI".
Jim has over two decades of experience with Big 4 Accounting firms, and was previously a partner at Mesirow Financial, Arthur Andersen LLP and KPMG LLP. He is a Fellow of the American College of Bankruptcy, a member of the American Institute of Certified Public Accountants and Florida Institute of Certified Public Accountants. He is a Certified Public Accountant in the State of Florida and a former member of the Board of Directors of the American Bankruptcy Institute. Jim holds a M.P.S. from Cornell University and a B.A. from the University of Wisconsin, Madison.
James “Jim” Feltman, CPA, CFE, CFF, is a managing director in the Disputes and Investigations practice. He has over 30 …
Print and review course materials
Method of Presentation:
On-demand Webcast (CLE); Group-Internet Based
General knowledge of bankruptcy litigation
NY Category of CLE Credit:
Areas of Professional Practice
NASBA Field of Study:
Specialized Knowledge - Technical
2.0 CPE (Not eligible for QAS (On-demand) CPE credits)
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About Moses & Singer LLP
Moses & Singer provides legal services to prominent companies, individuals and families. Among our broad array of clients are leaders in banking and finance, entertainment, media, real estate, healthcare, advertising, technology and the hotel and hospitality industry. We represent entrepreneurial clients as well as established businesses in financing and corporate transactions. The firm has unique strength in the areas of intellectual property and commercial litigation, and in connection with corporate reorganizations and bankruptcies.
About Pachulski Stang Ziehl & Jones LLP
Pachulski Stang Ziehl & Jones LLP (PSZJ) is the nation’s leading corporate restructuring boutique, with offices in Los Angeles, San Francisco, Wilmington (DE), New York and Costa Mesa. PSZJ attorneys are experienced in representing all major constituencies in bankruptcy proceedings and out-of-court workouts, including debtors, committees, trustees, bondholders, asset-purchasers and third-party plan proponents. PSZJ also handles sophisticated business litigation and transactional matters as part of its renowned U.S. News & World Report “Tier One” Restructuring Practice.
About Duff & Phelps
Duff & Phelps is the global advisor that protects, restores and maximizes value for clients in the areas of valuation, corporate finance, investigations, disputes, cyber security, compliance and regulatory matters, and other governance-related issues. We work with clients across diverse sectors, mitigating risk to assets, operations and people. With Kroll, a division of Duff & Phelps since 2018, our firm has nearly 3,500 professionals in 28 countries around the world. For more information, visit www.duffandphelps.com.