This event will be held in the Thomas & Mack Moot Court Facility.
To register for this CLE* program, click here.
*This program has been approved for 5 CLE credits, including 0.5 ethics, and 5 CPE credits.
Fulbright & Jaworski L.L.P.
Lindquist & Vennum
McDonald Carano Wilson LLP
Snell & Wilmer L.L.P.
William S. Boyd School of Law
9:00 - 9:45 a.m.
Bankruptcy Law May Turn Your World Upside Down
The Wacky World of Bankruptcy and the Great Recession:
Entering bankruptcy court is like becoming one of the Alice in Wonderland characters!. Those with the least money have the most leverage. Ordinary transactions become frauds. Executives of failed companies earn large bonuses. Debts are flushed in the twinkling of an eye. The plain language of the law produces crazy results. Big money can be made and huge fortunes lost. To know bankruptcy is to love it! Or die trying!
William J. (Bill) Rochelle, III, Editor-at-large and Bankruptcy Columnist for Bloomberg News
9:45 - 10:30 a.m.
You May Be Held to a Standard That You Find Puzzling and Counterintuitive
As a creditor, you may find that negotiations with a debtor can put you in prison. As a debtor, you may find that actions that you thought were perfectly moral can put you in prison. In addition, officers and directors can be held criminally liable for their intentional or negligent actions. They, too, can end up in prison. And, even if no prison time is involved, missteps may cause you to pay a heavy price financially for actions you thought were perfectly fine.
Nancy B. Rapoport, Gordon Silver Professor of Law, William S. Boyd School of Law
10:45 - 11:30 a.m.
You May Find Bankruptcy Reorganization is the Best Alternative
Pulling It All Together In Bankruptcy Reorganization:
You may find that bankruptcy reorganization is the best possible alternative for your company, giving you the opportunity to have a breathing spell during which you reorganize your debts, clean up your balance sheet, rid yourself of unwanted contracts and pay creditors only what the law requires. Also, you may find that you as a creditor will have a substantial amount of power in a debtor’s bankruptcy reorganization and can use the bankruptcy laws to get the highest possible recovery.
Evelyn H. Biery, Fulbright & Jaworski L.L.P.
11:30 - 12:15 p.m.
You May Be Forced to Stop Performing Your Contracts, or You May Be Prevented from Performing Your Contracts
Contracts In Bankruptcy:
You thought you had a deal, but the bankruptcy debtor can breach the contract if the contract doesn't benefit the estate. Conversely, if your contract benefits the estate, you can be forced to continue to perform, even if you don't want to do business with a debtor in bankruptcy.
Craig A. Christensen, Lindquist, Vennum P.L.L.P.
1:30 - 2:15 p.m.
You May Be Forced to Give Back Property You Purchased From an Insolvent
Voidable Preferences And Fraudulent Transfers:
Your bargain purchase may be set aside as a fraudulent transfer, if the seller was insolvent or certain other factors were present. Also, you may be required to give back the payments you received for your goods and services, even if you charged a fair price.
Donald L. Gaffney, Snell & Wilmer L.L.P.
2:15 - 3:00
A Bankruptcy Filing Will Affect Your Litigation
Litigation In Bankruptcy Cases:
If you are suing someone who files for bankruptcy relief, you may find your lawsuit stayed and the parties changed. If the plaintiff in a lawsuit files for bankruptcy relief, the litigation will probably still proceed. If the defendant in a lawsuit files for bankruptcy relief, the lawsuit may be stayed and may be removed to bankruptcy court. If you have a settlement, it may be undone by a bankruptcy judge.
Kaaran E. Thomas, McDonald Carano Wilson LLP
3:00 - 3:30
Questions and Answers