Affiliate Education Programs – Current Chicago Programs

ABI Sessions

Assignments for the Benefit of Creditors May Soon Go Uniform

As an alternative tool for liquidating a business, the rules for an assignment for the benefit of creditors (ABC) vary widely from state to state, including whether the ABC is judicial or nonjudicial, and with respect to customs and practices. A Committee of the Uniform Law Commission has considered (1) the various state ABC laws’ interactions with bankruptcy and other state and federal laws; (2) assignor eligibility and choice of law rules, including when an ABC should be treated as a security interest; (3) court involvement in the ABC process; and (4) transparency, due process, conflicts of interest, and adequate notice procedures, particularly with respect to duties of assignees. In the summer of 2025, the Uniform Law Commission intends to publish the final version of a uniform or model act for ABCs. The Committee’s chair, Edwin Smith of Morgan Lewis, will moderate a lively discussion including select members of the Committee to provide an overview of the ABC Act and when it might be considered for enactment in your state.

Moderator: Edwin E. Smith, Esq.
Panelists: Patricia Ann Redmond, Esq.; Geoffrey L. Berman; Robert M. Saunders, Esq.; Laura Coordes, Esq.

Swimming in the Deep End of the Privilege Pool

Most lawyers, judges, litigants, and even clients have a solid working knowledge of the key attributes of the attorney-client privilege and work product privilege – i.e., the shallow end of the pool. But most of us struggle with the scope and limitations of privileged communications within the shifting dynamic of a bankruptcy case, including joint defense, common interest, mediation discussions, Fifth Amendment, former employees, and directors or officers of a debtor (including if a Chapter 7 or Chapter 11 trustee is appointed), expert communications, and transfer of the privilege through an asset sale. This panel of experts will dive into the deep end of the privilege pool to explore these complex privilege topics. Life jackets may be required.

Moderator: Hon. Hannah Blumenstiel (U.S. Bankr N.D.CA)
Panelists: Mark Moore, Esq.; Robert Eisenbach, Esq.; Christina Sanfelippo, Esq.; Kaitlin Walsh, Esq.

Top [10] Rochelle Daily Wire’s No One is Talking Enough About

Bill Rochelle is known for keeping us informed on all the cutting-edge developments in bankruptcy law.  But sometimes the most important developments in bankruptcy law fail to have their viral moment.  Bill will moderate a panel of esteemed “judicial influencers” that will attempt to break through the Daily Wire algorithm and highlight a few key legal developments from the past year that need a second chance for their viral moment. 

Moderator: Bill Rochelle
Panelists: Hon. Bruce Harwood, N.H. (Ret.); Hon. Thomas M. Horan, D. Del.; Hon. Benjamin A. Kahn, M.D. N.C.; Hon. William Lafferty, W.D. Cal.; Hon. J. Kate Stickles, D. Del.

Collapsing the Single Member/Stockholder Entity

A small business incorporated as a single member managed LLC, as an S corporation, or similar structure may face legal challenges from a chapter 13 or SubV trustee seeking to collapse or “disincorporate” the corporate form to reach assets the debtor anticipated would be beyond the reach of its creditors. This panel will explore the potential challenges to certain corporate forms when an individual that is the sole member or stockholder of a business attempts to restructure through chapter 13 or SubV, including whether there should be renewed focus on potential substantive consolidation of these entities/owners. 

Moderator: Hon. Christopher Panos, D. MA
Panelists: Kellie Fisher, Esq., Drummond Woodsum; Hannah Hutman, Esq., Hoover Penrod, Esq., PLC, Janice Seyedin, Esq., Ch. 11 Sub V Trustee, Region 11

CLLA Programs

Luncheon and Education Program — Detecting Corporate Psychopaths

Psychopaths make up 1% to 4% of the population. While serial killers tend to get the most press, psychopaths in the workplace are a common and pervasive problem, especially when in leadership positions. This presentation will discuss the unique characteristics of corporate psychopaths and how frequently psychopaths infiltrate the corporate world. The discussion will highlight the personality traits of psychopaths, how to identify those most likely to deceive and manipulate victims, and what professions have the highest percentages of psychopaths. Learn specific interview techniques designed to detect psychopaths, whether evaluating a potential new hire, investigating workplace complaints, or even meeting with a new client. Tips will be provided on how best to interview individuals to try to detect lying and withstand the manipulation.

Kathy Bazoian Phelps has been a lawyer since 1991 and is currently a partner at Raines Feldman Littrell LLP in the Los Angeles office. In addition to serving as a fiduciary, Kathy focuses her law practice in the areas of insolvency law, fiduciary representation, and fraud litigation, frequently representing federal equity receivers, state court receivers, and bankruptcy trustees. Kathy also serves as special litigation counsel for fiduciaries and interested parties in fraud-related litigation cases arising out of receivership and bankruptcy cases. She is particularly knowledgeable about the administration of Ponzi scheme cases and has extensive litigation experience in claims arising in these types of cases.

Kathy has lectured widely and written on bankruptcy and receivership matters, with a focus on Ponzi schemes. Her book entitled The Ponzi Book: A Legal Resource for Unraveling Ponzi Schemes, co-authored with Hon. Steven Rhodes, has garnered national and international attention as the authoritative work on Ponzi scheme law. Kathy is also the author of The Ponzi Scheme Blog and Ponzi-Proof Your Investments: An Investor’s Guide to Avoiding Ponzi Schemes and Other Fraudulent Scams.

In addition to her roles as lawyer, fiduciary, speaker, and author, Kathy also serves as a mediator and is currently on the mediation and arbitration rosters for the Financial Industry Regulatory Authority, as well as the Bankruptcy Mediation Panel for the Central District of California and the Bankruptcy Mediation Panel for the District of Arizona.

Frank Koger Memorial Education Program: “Crime and Punishment: Ethical Quandaries in Insolvency Proceedings“

This program will explore what issues exist and may arise for professionals in matters involving criminal, fraudulent, or negligent conduct related to insolvency cases. The panel will examine red flags and appropriate and inappropriate responses to criminal or unethical conduct. The panel will also analyze a professional’s ethical responsibility using fact scenarios drawn from infamous cases over the past few decades, such as FTX, Neiman Marcus, and Le-Natures.

Moderator: Prof. Nancy B. Rapoport (UNLV)

Panelists: Prof. Veronica J. Finkelstein (WilmU); Robert J. Cleary, Esq.

AIRA Program

AIRA Luncheon and Education Program: Other Roles in the Bankruptcy Process – Trustees, Examiners, Why Not Special Masters?

The learning objectives of this luncheon session are to review how the bankruptcy process is facilitated by individuals serving as trustees and examiners, discuss the use of special masters in other federal proceedings, and consider how the availability of the special master role would enhance the efficiency of the bankruptcy process.

Panelists: Hon. Michael B. Kaplan (U.S. Bankr. D.NJ); Hon. Craig Goldblatt (U.S. Bankr. D.DE); Hon. Frank J. Bailey (U.S. Bankr. D.MA.)(Ret.); Angela Shortall; Katherine R. Catanese, Esq.

ABA Program

ABA Luncheon & Education Program: Liabilities Managed! – The Evolution of Liability Management Exercises and Their Treatment in Bankruptcy

Panelists will discuss the evolution of liability management exercises and the development of strategies to encourage and countermand them, as well as how they have played out in bankruptcy. Panelists will also consider recent issues relating to cooperation agreements, participations, restrictions on voting rights, and more. This session will feature experts with firsthand experience from all sides of the liability management spectrum, ensuring a multifaceted perspective on the challenges and opportunities these transactions present. Attendees will have an opportunity to engage directly with panelists during an interactive Q&A session.

Panelists: Rachel Albanese, DLA Piper (Moderator); Kelly Dybala, Sidley Austin LLP; Scott Greenburg, Gibson Dunn; Hon. Marvin Isgur, U.S. Bankruptcy Court for the Southern District of Texas; Michael Handler, King & Spalding; Adam Keil, Moelis

Merchant Cash Advances in Bankruptcy: the Good, the Bad, the Ugly

In recent years, small and medium sized companies that are struggling financially have increasingly turned to different sources of funding when traditional financing avenues are unavailable. Known as Merchant Cash Advances, this type of revenue-based financing provides much needed relief for companies by providing fast, upfront cash without the stringent requirements of traditional bank loans. Merchant Cash Advances differ from traditional lending or factoring agreements by utilizing a model that contemplates the outright sale of accounts receivable. However as with other funding of last resort, the funders typically charge a steep price for the funding, which has led to increased scrutiny from courts and attorney generals across the country. In bankruptcy, whether a Merchant Cash Advance is categorized as a sale or a loan will have profound consequences on many aspects of the case, including property of the estate, cash collateral, and preference exposure to name a few. These issues continue to develop considering the prevalence of Merchant Cash Advances and the evolving legal landscape surrounding them. Our experienced panel, comprised of a bankruptcy judge, an attorney who regularly represents the funders, and an attorney who has represented debtors and trustees, will discuss the problems that arise. 

Panelists: Hon. Elisabetta Gasparini, U.S. Bankruptcy Court, District of South Carolina; Ryan Richmond, Sternberg Naccari, White, Baton Rouge, LA; Patricia Fugée, FisherBroyles, Cleveland, OH

Your non-bankruptcy regulator wants to impose conditions on your bankruptcy sale, transaction or plan…When is the Bankruptcy Code not enough to limit that exercise of regulatory power?

So, your non-bankruptcy regulator wants to impose conditions on your bankruptcy sale, transaction or plan. When is the Bankruptcy Code not enough to limit that exercise of regulatory power?” Parties often are under the impression that a Bankruptcy Court can authorize sales, transactions, financings, plans and more without significant concern about state regulatory approvals. This issue, which has manifested itself in different ways over the years, has again come in focus as regulated healthcare enterprises, airlines, power/energy companies, retailers, nonprofits and others are making today’s chapter 11 headlines. The panel will provide diverse perspectives, based on case experience, on how far bankruptcy courts should defer to regulatory authorities and concurrently how far regulatory authorities can insist on conditions to various proposed bankruptcy conduct. The panel welcomes attendee participation as they explore this challenging intersection of bankruptcy and non-bankruptcy law.

Panelists: Hon. Meredith Grabill, U.S. Bankruptcy Court, Eastern District of Louisiana; Adi Goldstein, Deputy Attorney General for the State of Rhode Island; Candace Arthur, Latham & Watkins, New York, New, York; Anne Wallice, Sidley & Austin, New York, New York; Andrew Troop, Pillsbury Winthrop Shaw Pittman, New York, New York (Moderator)

With a Little Help from My Friends: The Nuts and Bolts of Amicus Briefs in Bankruptcy Cases

Bankruptcy cases and decisions often have consequences outside the four corners of the case in which they are entered. And parties that will be affected may have much to offer the trial or appellate court. But when, really, is it helpful to have an amicus brief in support of your position?  Who are the audiences, and do they make a difference? Is the answer different if the question is before the bankruptcy court or on appeal? A panel of distinguished practitioners, scholars, and judges discuss these issues and offer both high-level perspectives and practical advice.  

Panelists: Hon. Elizabeth Stong, U.S. Bankruptcy Court for the Eastern District of New York, Brooklyn, NY; Hon. Frank Bailey (Ret.), Pioneer Public Interest Law Center, Boston, MA; Professor Nancy Rapoport, UNLV William S. Boyd School of Law, Las Vegas, NV; Professor Bruce Markell, Northwestern University Pritzker School of Law, Chicago, IL

Bankruptcy Exceptionalism? Limits on Bankruptcy Court Equity Powers and Jury Trial Rights

Bankruptcy courts are courts of equity that provide flexible solutions to many difficult financial problems. As bankruptcy lawyers we view the efficiency and predictability that can be achieved through the bankruptcy courts as powerful and superior when compared to other potential remedies. However, the Supreme Court has repeated suggested our perceived “bankruptcy exceptionalism” may overstated, particularly given several recent rulings. Our panel will discuss the limits of bankruptcy court powers and how practitioners can use the bankruptcy process while staying within the guardrails established by the Supreme Court.

Panelists: Hon. Cathleen D. Parker, U.S. Bankruptcy Judge, District of Wyoming; J. Mark Fisher, ArentFox Schiff, Chicago, IL; Jeffrey M. Sklarz, Green & Sklarz LLC, New Haven, CT