Visit our website | Click here to view online

Vol 14, Num 4 l July 2015

Business Reorganization An ABI Committee Newsletter - Spnsored by The Wall Street Journal

► In This Issue:

Render unto Caesar the Venue Choice that Is Caesar’s: Venue Transfer and the “Interest of Justice” Standard Examined in In re Caesars Entertainment Operating Co.

Michael Sullivan
University of Georgia
School of Law
Athens, Ga.

Editor’s Note: The following article, “Render unto Caesar the Venue Choice that Is Caesar’s: Venue Transfer and the 'Interest of Justice' Standard Examined in In re Caesars Entertainment Operating Co.,” won the prize for third place in the Seventh Annual ABI Bankruptcy Law Student Writing Competition. Mr. Sullivan is a recent graduate of University of Georgia School of Law in Athens, GA, and a 2015 Medal of Excellence recipient.

Venue selection in bankruptcy cases has been a source of confusion and uncertainty from the enactment of the 1898 Bankruptcy Act through the bankruptcy reforms of 1978. Venue transfer has similarly become an intensely debated topic, particularly in the context of chapter 11 reorganizations. This is due in large part to the nebulous standard for transfer created by the language of the transfer statute, which was recently examined in In re Caesars Entertainment Operating Company.
» Read More

Stretching a Rule 'Till' It Breaks: The Unexamined Inapplicability of Till in Chapter 12 Cases Involving a Debtor’s Primary Residence

ABI

J. Jackson Waste
Baker Manock
& Jensen, PC

Fresno, Calif.

Since chapter 12 is modeled after chapter 13, plus the relative paucity of chapter 12 case law, there is a considerable degree of cross-pollination whereby chapter 13 case law is used to resolve chapter 12 issues.[1] Ordinarily, this is fine. Despite their similarities, however, chapter 12 is unique in certain respects. For example, chapter 12 plan payments may be made annually (instead of monthly), chapter 12 debtors may extend payments on secured claims many years beyond the end of the plan period, and a chapter 12 debtor may modify the rights of a creditor whose claim is secured only by a lien on the debtor’s primary residence.
» Read More

A Note from the Listserve Facilitator: Using the Committee Listserve

ABI

Rob P. Sweeter
Waller Lansden Dortch & Davis, LLP
Nashville, Tenn.

ABI created and offers the committee Listserves as a free service to ABI members to foster discussion of bankruptcy-related topics.

Would you like to start a discussion on recent court opinions, pending legislation or rules? Do you have a question regarding practice, procedures or precedent?   Or maybe you’re looking for insight on a particular topic, including locating professionals for an assignment. There’s an easy way to start useful discussions of bankruptcy-related topics among the members of our committee or announce ABI-related business. 

To post messages to our committee’s Listserve, all you have to do is use this email address: abi_business_reorg@dizzy.abiworld.org.

Don’t be shy; share you observations, questions and inquiries with your fellow committee members. Of course, if you’d prefer to remain anonymous, or you simply want to avoid an inbox full of out-of-office replies, I can circulate your post for you. Just forward it to me using the following link and I will take care of the rest: robert.sweeter@wallerlaw.com.

More information regarding the ABI Listserves, including the rules and guidelines, can be found online. To view past Listserve posts, visit the committee page and click on the "Listserves" tab.

If you have any questions regarding the use of the ABI Listserves, please contact the ABI Support at:
 support@abi.org.

And a special note to any would-be “line crossers,” ABI reserves the right to suspend or terminate usage on all lists for members that violate the rules.

Complimentary Teleseminar this Thursday - Make Whole Provisions

ABI
Jon Pearson
Ballard Spahr LLP
Philadelphia


ABI
Christine Barba
Ballard Spahr LLP
Philadelphia

While lenders have relied on the protections of make-whole provisions in their loan agreements in the voluntary redemption context for years, what happens when a borrower files for bankruptcy and challenges the enforceability of such provisions in the bankruptcy context? What specific language do bankruptcy courts require to ensure enforceability? What effect does the automatic stay have on these provisions in bankruptcy? What strategies have creditors and creditors’ committees employed to challenge these provisions? This teleseminar explores these questions in light of the recent important decisions in Momentive Performance Materials, Inc. and Energy Future HoldingsCorp, et al

Please tune in for this exciting teleseminar on July 16, 2015, at 4 pm ET:

Dial In: (712) 432-1500
PIN: 6 9 2 9 3 3

This complimentary call will be hosted by the Unsecured Trade Creditors Committee. To join this, or any other committees, simply update your profile and use the check boxes listed under the "Committees" tab.

New and Improved! ABI's Committee Website has Moved

You may have noticed a few changes to the committee site over the last week, including a new location. The committees' webpages have now been integrated into the main ABI website. To access these new pages, simply visit abi.org, hover over the "Membership" tab, and click on "Committees." Here, you will be able to access newsletter articles, recent recordings, announcements, listserve activity and contact information for your leadership team.

Not sure of what committees you are a member? Update your profile, select the "Committees" tab and use the check boxes to update your status. While you're here, take a few moments to update your full preferences, including CLE and bar information, contact information, title, and more. Uploading a professional photo is also a great way to make yourself more visible in the directory. Not only will your photo be included in the directory, but ABI staff will also have it available for use with any future article or speaking bylines.

Have comments, questions or concerns? Email us through our new support system: support@abi.org.

2015 Southeast Bankruptcy Workshop - July 23-26 - Amelia Island, FL

 

Bankruptcy Judges Roundtable - 8/4/15

66 Canal Center Plaza, Suite 600, Alexandria, VA 22314
www.abi.org | support@abiworld.org
Tel. (703)-739-0800
Follow ABI on Twitter Follow ABI on Facebook Follow ABI on Linkedin

Copyright © 2015 American Bankruptcy Institute.