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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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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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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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 is pleased to announce the redesign of the Online Bookstore. This updated site provides users with a 
streamlined 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!
