Young & New Members Committee

ABI Committee News

The Need for Uniform Bankruptcy Legal Ethics Provisions

by Shane Johnson
University of Texas School of Law; Austin, Texas

Editor's note: The ABI National Ethics Task Force was formed by ABI President Geoff Berman in 2011. The mission of the Task Force is to consider ethics issues in bankruptcy practice and make recommendations for uniform standards where appropriate.

Courts have struggled to develop consistent case law for attorney representations of a debtor in possession (DIP) because of the DIP’s unique status within bankruptcy law.[1] In particular, courts have held the DIP’s counsel acts for the benefit of itself, equityholders and creditors[2] because the attorney represents the client’s bankrupt estate and not the client in its individual capacity.[3]

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Does § 1129(a)(10) Impose a Per Debtor or Per Plan Requirement?

by Shane G. Ramsey
Kilpatrick Townsend & Stockton LLP; Atlanta

Matthew R. Hindman
Kilpatrick Townsend & Stockton LLP; Atlanta

In In re Tribune Co.,[1] the U.S. Bankruptcy Court for the District of Delaware considered, among other confirmation issues, whether under § 1129(a)(10) of the Bankruptcy Code, a multi-debtor plan must be accepted by at least one impaired class for each debtor (i.e., does § 1129(a)(10) evidence a per debtor or per plan requirement?).

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Exploring the Limits of the In Pari Delicto Defense

by Clarissa M. Raney
Holland & Hart LLP; Denver

In pari delicto stands for the proposition that in a case of mutual fault, the position of the defending party is the better one.[1] The doctrine is “grounded on two premises: first, that courts should not lend their good offices to mediating disputes among wrongdoers; and second, that denying judicial relief to an admitted wrongdoer is an effective means of deterring illegality.”[2] As a result, a plaintiff’s recovery may be barred by his or her own wrongful conduct.[3]

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Courts Critical of Critical-Vendor Motions

by Veronique A. Urban
Farrell Fritz, P.C.; Uniondale, New York

The recent decision by Eastman Kodak Company to reschedule the hearing on its critical vendor motion provides a good reminder to bankruptcy practitioners that such motions are not treated lightly by bankruptcy judges.[1] At its core, the Bankruptcy Code strives to ensure that all creditors that are similarly situated are treated equally. The Code accomplishes this, in part, by providing a specific priority scheme for the payment of creditor claims. Such scheme establishes the basic principle that, upon the commencement of a bankruptcy case, a debtor may not make any payments to creditors on account of pre-petition debts without a bankruptcy court order authorizing such payment, unless such payments are made as a result of a confirmed plan.

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ABI's Next Discover Webinar to be Held on March 15th - Register Now!

We want to make it as easy as possible for our members to quickly familiarize themselves with our products. But where to start? There are dozens of products and services that you could start with. Because of this, we've created several ways for you to get up to speed right away. First, we suggest visiting our Discover ABI website; here you'll be able to read about, launch to and explore a plethora of our hottest features.

Still unsure of where to begin? Join us each month for a free 30 minute webinar designed to guide new members through some of our best features. Click here to join us for the next webinar on March 15th.

 

Download Now: Business and Consumer "Best of ABI" Publications Are Available in Kindle and Nook Format

ABI is pleased to announce the redesign of the Online Bookstore. This updated site provides users with a Best of booksstreamlined layout that incorporates new features, such as ABI books in Amazon Kindle and Barnes and Noble Nook formats. The Bookstore allows you to search titles and book bundles by categories, browse descriptions and the table of contents for each publication, provides a "peek inside" each book, and features "Kindle Book" and "Nook Book" categories that show all ABI titles available for purchase in the Kindle or Nook format. Check back regularly for newly available Kindle and Nook books!

Published in early December, two of our newest books, "Best of ABI: The Year in Business Bankruptcy 2011" and "Best of ABI: The Year in Consumer Bankruptcy 2011", compile the year's best Journal articles and educational materials on a variety of topics. These books are available for purchase in the bookstore separately or as a bundle. All members are eligible for free ground shipping. Order now to have your copies sent directly to your home or office, or downloaded to your Kindle or Nook!

 




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