Illinois

Insurance carriers are now permitted to participate in the plan-confirmation process, even when a plan is “insurance neutral.” How do recent Supreme Court rulings change the confirmation process, or will the Bankruptcy Code permit debtors to alter the rights of insurance carriers over their objection of insurance and bind them to the terms of the plan? Finally, there are no circuit splits, no nonconsensual third-party releases under a plan — or is the issue still unsettled when the plan “pays claims in full,” and what does it mean to “consent” to a release?

This plenary will consist of small group huddles with judges and fellow attendees to work through case problems.

In this session, trustees of all types — chapter 7, subchapter V, chapter 12 and chapter 13, together with an attorney for court-appointed fiduciaries and liquidating trustees — share their perspectives on the commonalities and differences under each chapter. The panelists discuss how to avoid common mistakes and offer tips for success for counsel to debtors and creditors. Is the trustee a friend or foe? What if a case converts from one chapter to another? Can a subchapter V trustee act as a mediator? What happens if a trustee suspects fraud? Do trustees have any discretionary powers?

This panel helps attendees avoid the landmines of a franchisee chapter 11 filing and better understand the current law on leasehold issues, critical vendor considerations, pre-petition termination of franchise agreements and a potpourri of pointers from multiple perspectives. The session also includes a hypothetical with practical solutions and considerations based on recent cases (published and nonpublished opinions) to the hypothetical.

This panel will present an overview of the statutory groundwork for, methodology for pursuing, and latest case law on avoidance action claims, including the impact of Purdue Pharma on the sale of these claims.