South Carolina

A better understanding of what trustees do in their day-to-day work can help debtors and credit and finance professionals appreciate some of the complexities of the bankruptcy process. Bankruptcy trustees are often painted as the bad guys: Creditors sometimes think that trustees sell assets at bargain-basement prices for a quick result, or that they're only in it for the fees, and debtors may view the trustee as their arch enemy. But the role of bankruptcy trustees is very challenging, involving and rewarding — not to mention highly regulated.

Join us for a discussion on the key features of the Paycheck Protection Program (PPP) and the current legal landscape regarding the eligibility of companies in bankruptcy to receive PPP Loans, including an overview of SBA guidance and recent court decisions.

This session will focus on professional retention issues in chapter 11 cases, starting with a brief primer on applicable Bankruptcy Code sections. The panelists will then delve into recent case law on such hot topics as disclosures, conflicts and retroactive relief.

This panel will discuss recent bankruptcy court decisions addressing the Delaware Court of Chancery’s decision in CML V LLC v. Bax, and how these decisions impact a creditors’ committee’s or any other creditor’s ability to bring derivative claims against third parties. The panelists will also provide examples of how committees and judges are solving this issue through financing orders and other methods.

Based on the TED Talks format, this year’s ABI Talks will focus on three discrete issues: (1) the coronavirus, namely the reaction of the market, what industries have been/are going to be hurt the most, and the potential short-term and long-term financial implications of the outbreak, including bringing otherwise-healthy industries into the bankruptcy discussion (such as airlines, oil companies, cruise lines, etc.); (2) the changing public perceptions of bankruptcy, looking at the way history has moved from imprisoning debtors to bankruptcy being such a commonly accepted tool to address debts