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Vol 14, Num 1 l April 2016

Technology and Intellectual Property

► In This Issue:

Structured Dismissal: Top 5 Reasons for Failure

ABI

Megan W. Murray
Trenam Law
Tampa, Fla

Once a debtor files a chapter 11 bankruptcy proceeding, it must confirm a plan of reorganization or liquidate its assets under a liquidating chapter 11 or chapter 7 case. Confirmation requires compliance with all the provisions of chapter 11, including the absolute priority rule. What happens when a chapter 11 debtor is unable to effectuate the substantial consummation of a plan? In certain rare circumstances, a court may dismiss a bankruptcy case for “cause” as long as dismissal is in the best interest of creditors. Section 1112(b)(4) provides a nonexhaustive list of grounds that constitute “cause” for dismissal or conversion. Dismissal may be appropriate where a debtor’s assets have been liquidated and there is nothing left to reorganize.
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A Brief Overview of the U.S. Trustee Program

ABI

Daniel A. White
Askew & Mazel, LLC
Albuquerque, N.M.

One element of the bankruptcy process that is frequently confusing to new bankruptcy practitioners and nonbankruptcy lawyers is the U.S. Trustee Program. Although it is not infrequently assumed that the U.S. Trustee Program is part of the judicial branch, the U.S. Trustee is a component of the Department of Justice. According to its mission statement, the U.S. Trustee is charged with “promot[ing] the integrity and efficiency of the bankruptcy system for the benefit of all stakeholders – debtors, creditors, and the public.” In more practical terms, the U.S. Trustee is responsible for overseeing the integrity of the bankruptcy system. On a day-to-day level, the Office of the U.S. Trustee is tasked with (1) appointing and supervising bankruptcy trustees, (2) preventing bankruptcy fraud and abuse and otherwise ensuring compliance with the Bankruptcy Code, (3) referring potential criminal matters for investigation and prosecution to other branches of government, (4) appointing creditors’ committees, (5) reviewing employment and fee applications, (6) providing courts with a more “neutral” viewpoint in hotly contested cases, and (7) generally ensuring that the Bankruptcy Code is complied with.
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2016 Annual Spring Meeting Offers a Plethora of Networking and Educational Options

2016 Annual Spring Meeting

Connect with the industry’s thought leaders at the 34th Annual Spring Meeting, featuring dynamic speakers, top education and unparalleled networking. This year’s event boasts streamlined CLE sessions, more networking opportunities than ever before, and ABI’s take on the famous Hollywood Squares game show, the inaugural “Bankruptcy Judge Squares: The Supreme Court Edition.”This year’s final night event will feature "Saturday Night Live" alum, talk show host, and political commentator Dennis Miller!

Click here to register now. Use coupon code SAVE100 at checkout to receive a $100 discount!

Representing the Creditors’ Committee

 

New York City Bankruptcy Conference

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