COVER STORY
Bankruptcy Update - While Chapter 11 filings in 2019 were about half of the peak reached in 2005, there were significant filings by iconic companies. The American Bankruptcy Institute monitors the bankruptcy landscape and lobbies to pass key legislation, like the Small Business Reorganization Act of 2019. Amy Quackenboss and Ed Flynn provide an overview of significant bankruptcy actions in 2019 and look ahead to 2020.
FEATURES
Amy Quackenboss Takes The Reins at ABI - As a new decade dawns, a changing of the guard brings new leadership to the American Bankruptcy Institute. Longtime deputy director Amy Quackenboss has taken the reins upon the retirement of Sam Gerdano.
Multiple Choice Test: Make-Whole Claims in Bankruptcy Are (A) Enforceable, (B) Not Enforceable, (C) Maybe Enforceable - Conflicting decisions by the 2nd, 3rd and 5th Circuit courts have created confusion over the status of make-whole claims in bankruptcy. Stephen Selbst analyzes the controversial cases and calls for a resolution either by a Supreme Court ruling or an amendment to the Bankruptcy Code.
The Right Approach… Have We Lost Our Way? - As the New Year begins, I am becoming more enlightened than ever about the growing proportion of arrogance in our profession. Walking out of some meetings, I feel like I have entered the Twilight Zone, where I am not sure I understand the thinking and logic of the others at the meeting or how conclusions may have been reached. Despite that situation, I have come across a few others that give us the greatest feelings of hope, fulfillment and satisfaction. To kick off 2020, here is a taste of both outcomes.
LEGAL LINES
What’s Next For LIBOR Transition in 2020? - The 2012 LIBOR scandal, in which a group of bankers manipulated the global interbank rate, rocked the financial world. LIBOR, long used to establish interest rates on commercial and consumer loans, is scheduled to sunset in 2021. The question “what will replace LIBOR?” has persisted. Oscar Stephens provides an overview of the current situation and offers a preview of SOFR, the top contender for LIBOR’s replacement.