Friday, March 4, 2005
8:30–9:00 am
Registration/Breakfast
9:00–9:15 am
Introductory Remarks
Hon. Mitchel R. Goldberg (U.S. Bankruptcy Court, C.D. of Calif.,
Riverside), Judicial Chair
9:15–10:30 am
The New Squeeze—Coming Second Lien Issues
The Panel will consider the likely effects and future issues
generated by the explosion of “second lien” deals that have
been closed since 2003. Among other issues, the panel will examine
likely developments regarding: (i) remedy standstills; (ii)
enforceability of voting agreements; (iii) advance consent to cash
collateral, DIP financings and asset sales; (iv) release of liens in
connection with asset sales; (v) adequate protection; (vi) reservation
of rights of to make arguments that would be available to unsecured
creditors; and (vii) rights of second lien holders as residual value
holders.
- Moderator: Peter M. Gilhuly (Latham & Watkins LLP, Los
Angeles)
- Ben H. Logan, (O’Melveny & Myers LLP, Los Angeles)
- David A. Hollander (Tennenbaum Capital Partners LLC, Santa
Monica)
- William A. Shpall (Credit Suisse First Boston, Los Angeles)
10:30–10:45 am
Coffee Break
10:45 am–12:00
noon
Inside the Judicial Mind
Get inside the minds of legal decisionmakers: judges, lawyers and
litigants. This program will address recent empirical scholarship
demonstrating the manner in which human psychology can influence or
distort judicial decisionmaking, and discuss the implications of these
findings for bankruptcy judges, lawyers and litigants. Applying this
scholarship to the everyday experience of law practice, the panel will
discuss: (i) the manner in which factors unrelated to the merits of a
dispute may affect the decisionmaking of judges, lawyers and litigants;
(ii) the strategies that advocates employ to maximize the impact of
these psychological influences, as well as strategies opposing advocates
may use to minimize that impact; (iii) the role that these psychological
mechanisms play in negotiation and/or mediation between attorneys and
litigants; and (iv) the systemic issues that these findings pose for the
modern bankruptcy system.
- Moderator: Lisa Hill Fenning (Dewey Ballantine LLP, Los
Angeles)
- Hon. Mitchel R. Goldberg—(U.S. Bankruptcy Court, C.D. of
Calif., Riverside) Judicial Chair
- Prof. Russell Korobkin (UCLA School of Law, Los Angeles)
- David M. Stern (Klee, Tuchin, Bogdanoff & Stern LLP, Los
Angeles)
12:00 noon–1:15 pm
Luncheon Presentation
“The Coming Federal Regulation of the Insurance
Industry”
Speaker: John Garamendi, Insurance Commissioner of the State of
California
1:30–2:45 pm
“Faith”-Based Initiatives in Chapter 11: Bad-Faith
Dismissals in Integrated Telecom Express, Inc. and Liberate
Technologies.
Recent rulings in the 3rd and 9th Circuits by a Circuit Court and
Bankruptcy Court, respectively, have approved and required that chapter
11 cases be dismissed due to an absence of “good faith.” In
each case, arguably solvent debtors elected to use bankruptcy to cap
creditor claims. The Panel includes attorneys for litigants on each side
of the issue in these cases and in a prior “good faith”
case. They will discuss these rulings, their own “opinions”
of them, and what, if anything, the rulings portend for the expansion of
this imprecise measure of “cause” for dismissal.
- Moderator: Robert B. Orgel (Pachulski, Stang, Ziehl, Young, Jones
& Weintraub, PC, Los Angeles)
- James R. Stillman (Ellman, Burke, Hoffman & Johnson, San
Francisco)
- Ali M. M. Mojdehi (Baker & McKenzie LLP, San Diego)
- Bennett L. Spiegel (Kirkland & Ellis LLP, Los Angeles)
2:45–3:00 pm
Coffee Break
3:00–4:15 pm
Deepening Insolvency Issues
The British courts have recognized the concept for decades as
“Shadow Directorship Liability.” Now it’s showing up
on our shores described as the act or tort of “Deepening
Insolvency.” This panel will explain the concept, as well as
current trends in the law and the very practical and startlingly new (at
least new to us) potential forms of liability possible as against
Debtors and their Directors and Officers under this fast-evolving
theory.
- Moderator: William A. Brandt (Development Specialists, Inc.,
Chicago)
- Scott F. Gautier (Peitzman, Weg & Kempinsky LLP, Los
Angeles)
- Victor A. Sahn (Sulmeyer Kupetz PC, Los Angeles)
- Francis J. Lawall (Pepper Hamilton LLP, Philadelphia)
4:15 pm
Adjourn
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