Public Companies & Claims Trading Committee

ABI Committee News

Central States Bankruptcy Workshop Materials

The Central States Bankruptcy Workshop, held June 12-15, 2008, attracted nearly 400 insolvency professionals to beautiful Traverse City, Michigan.  The conference featured the “Jaunty Judicial Debates,” where leading judges squared off on the hot bankruptcy topics of the day.  It also featured the highly informative and entertaining ABI Presidents’ Panel and the popular Breakfast with a Judge - an opportunity to sit down and discuss insolvency law one-on-one with key decision makers from your district.

One of the Friday morning sessions, “Claims Trading: Profits, Pitfalls and Strategies in Chapter 11-Do I hear A Higher Bid?” discussed a number of issues including the inherent risks of claims trading, best practices when selling a claim, as well as an overview of the claims trading process.  The panel for the session included Ronald S. Barliant of Goldberg Kohn Bell Black Rosenbloom & Moritz, Ltd. in Chicago, Carrianne Basler of AlixPartners in Chicago, David Distel of O’Keefe & Associates in Grand Rapids, MI, Brian A. Jarmain of Silver Point Capital in Greenwich, CT, and Hon. Jack Schmetterer of the U.S. Bankruptcy Court, Northern District of IL.

Procedures For Claims Trading In Chapter 11: Orderly System Or Unregulated Wild Card - Prepared by Anders J. Watson, Law Clerk to Judge Schmetterer

Selling a Claim in Bankruptcy Can Provide Liquidity, But “Let the Seller Beware” - Written by David J. Distel, CPA

Risks Of Claims Trading - Written by Ronald Barliant and Kimberly A. Bacher (also of Goldberg Kohn Bell Black Rosenbloom & Moritz, Ltd. in Chicago)

 

New York City Bankruptcy Conference Materials

The 10th Annual New York City Bankruptcy Conference, held May 12, featured a great mix of hot topics in bankruptcy including subprime issues, the ABI fee study, rights offerings, the changing players in chapter 11, and more.  The materials from the session “Rights Offerings” included a paper prepared by Lisa Beckerman of Akin Gump Strauss Hauer & Feld LLP (also a panelist), entitled “The Basics Of Rights Offerings.”  It is a great introduction to the practice and includes a beginner’s vocabulary as well as specific information on rights offerings in chapter 11 situations.  In addition to Ms. Beckerman, the panelists included D.J. “Jan” Baker of Skadden Arps Slate Meagher & Flom LLP, David L. Resnick of Rothschild, Inc., Glen E. Siegel of Dechert LLP, and Hon. Elizabeth S. Stong of the U.S. Bankruptcy Court, Eastern District of New York.

The Basics of a Rights Offering - Prepared by Lisa Beckerman