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Clearing the Last Hurdle in Chapter 11 (Web)

Clearing the Last Hurdle in Chapter 11 – Evolving Confirmation Issues That May Trip the Unwary
Tuesday, June 22, 2021 | 12:30 pm - 2:00 pm

Program Fee:

$79 for Members | $149 for Nonmembers
Members who are Law Students, Recent Law Graduates, Newly Admitted Lawyers (admitted for the first time in any state or country 2019-2021), In-House/Corporate Counsel, Judges, and attorney members who practice within the Government, Academic or Not-for-Profit sectors attend this program for free.

CLE Credit:
New York: 1.5 Professional Practice
New Jersey: 1.8 General
California: 1.5 General
Pennsylvania: 1.5 General
Connecticut: Available to Licensed Attorneys

This program provides transitional/non-transitional credit to all attorneys

This CLE webinar presentation will cover certain timely chapter 11 plan confirmation issues relevant to both large and small firm practitioners representing debtors, creditors, and estate fiduciaries.    The topics include: 

(i) Third-party releases in plans.  Courts generally agree that third-party releases are permissible if creditors consent, but disagree about what constitutes “consent” (for impaired, unimpaired, and non-voting creditors), and whether non-consensual releases are permissible under the Bankruptcy Code.  We will discuss the various approaches, and offer predictions on where the trends are headed;

(ii) “Effective date” is a term used but not defined in the Bankruptcy Code and is often left to lawyers to delineate in plan documents.  There is surprisingly little authority regarding when it actually occurs and what impact it has on debtors and creditors.  This portion of the program will explore a variety of issues this uncertainty may raise;

(iii) The meaning of “impair” sounds simple — to damage or weaken something.  But is it really so simple for the purpose of bankruptcy law?  Most definitely not!  This part of the program will cover the meaning and effect of impairment under section 1124 of the Bankruptcy Code, and how the concept is used, misused or even abused; and  

(iv) With respect to joint chapter 11 plans for multiple debtors, courts have split on the question of whether a plan can be confirmed if only one impaired class of claims within the entire plan has accepted (even if no class of claims against one or more of the debtors has accepted the plan), or whether a consenting class of claims with respect to each debtor is required.  This is the “per plan” vs. “per debtor” debate.  We will discuss the recent case law regarding this debate.

Click Here to View Program Agenda & Faculty

Program Co-Chairs:
Sheryl P. Giugliano, Ruskin Moscou Faltischek, P.C.
Kenneth M. Lewis, Whiteford, Taylor & Preston LLP

Sponsoring Committee:
Bankruptcy & Corporate Reorganization, Ana Maria Alfonso, Chair

New York City Bar 42 West 44th St New York, NY 10036

Tuesday, 22 June 2021


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