BUSINESS LAW SECTION SPRING MEETING
May 13, 2016 | New York, NY
Keep current on the inner workings of business law and connect with colleagues in your field!
Harvard Club of New York City
35 West 44th Street (btw. 5th & 6th Ave)
New York, NY 10036
Business Law Section Members: Committee Programs: Free (registration required) | Section Luncheon: $35
Non-Section members: Committee Programs: $30 each | Section Luncheon: $75
or call the Member Resource Center at 800-582-2452 (M-F, 8am-5pm) with event code BUSSP16.
For questions, contact firstname.lastname@example.org or call Kathy Plog at (518) 487-5681.
First-time attendee? If you are not a member and have never attended a Business Law Section Committee event before, we invite you to attend your first time as our guest. Committee programs will be free for first-time attendees, and regular charges apply to the lunch. To register for a committee program as a guest, please contact email@example.com or call Kathy Plog at (518) 487-5681.
Not a member of the Business Law Section? Join today! Dues are just $25 with NYSBA membership. Join online, or call (800) 582-2452 (M-F, 8am-5pm).
10:30am-Noon: Committee Programs (Block 1) - Choose One
Insurance Law Committee: Cybersecurity Issues
Not-for-Profit Corporations Law Committee: Discussion on pending NFPLC legislation and issues not addressed by recent legislation
Private Investment Funds: Social Media and Crisis Management
Noon-1:30 pm: Section Reception and Luncheon
1:30-3:00 pm: Committee Programs (Block 2) – Choose One
Banking Law Committee: Regulatory Roundup 2016
Bankruptcy Law Committee: Current Bankruptcy Topics and Trends: Oil & Gas, Equitable Mootness, Education and Even Marijuana
Technology & Venture Law Committee: Music Licensing Online: Who Pays for What? and Deal Terms vs. Valuation—the effect that terms and funding rounds have on payout structures and exit hurdles
PROGRAM DESCRIPTIONS: (ALPHABETICAL BY COMMITTEE NAME)
Banking Law Committee:
Regulatory Roundup 2016
A panel of regulators and others discuss legislative and regulatory developments in the banking world.
Roberta Kotkin, Esq., New York Bankers Association
Ashby Hilsman, Esq., Federal Deposit Insurance Corporation
James Bergin, Esq., Federal Reserve Bank of New York
Jason Almonte, Esq.,
Office of the Comptroller of the Currency
Kathleen Scott, Esq., Norton Rose Fulbright US LLP
MCLE credit is anticipated; details to follow.
Bankruptcy Law Committee:
Current Bankruptcy Topics and Trends: Oil & Gas, Equitable Mootness, Education and Even Marijuana
Jeffrey Bernstein, Esq. - McElroy, Deutsch, Mulvaney & Carpenter, LLP
Nicole Leonard, Esq. - McElroy, Deutsch, Mulvaney & Carpenter, LLP
Michael Riela, Esq. - Vedder Price P.C.
- Equitable Mootness: Equitable mootness can be described as a judge-made abstention doctrine that is based on an unwillingness to alter the outcome of a plan of reorganization that has been substantially consummated, where it would be inequitable to do so. Courts may apply equitable mootness where the reversal of an order confirming a substantially consummated plan could affect the expectations of innocent third parties or could otherwise lead to chaos. Courts have recognized, however, that despite its apparent virtues, equitable mootness is a “judicial anomaly.” This is because federal courts “have a virtually unflagging obligation” to exercise the jurisdiction conferred on them. During the last several years, a number of appellate courts have struggled to define the contours of the doctrine of equitable mootness. Among other cases, the panelists will discuss In re Philadelphia Newspapers, In re SemCrude L.P., In re One2One Communications, In re Tribune Media Company, In re Pacific Lumber Co., and In re Sunnyslope Housing L.P., and how these courts have tried to define the scope of equitable mootness.
- Legal Issues Related to Oil and Gas Restructurings: The decline in the price of oil and gas has created economic strain on participants in this industry sector. On some participants, the dislocation has been more severe than on others. This has resulted in an escalation of the number of bankruptcy proceedings and legal disputes concerning the modification of commercial relationships between counterparties to contracts, such as between commodity producers and businesses that process production in various ways. Among the cases to be discussed will be In re Sabine Oil & Gas Corp., 2016 WL 890299, __ B.R. __ (Bankr. S.D.N.Y. Mar. 8, 2016), in which the Bankruptcy Court permitted the debtor to reject its contracts with certain midstream operators providing services to the debtor and touched upon provocative arguments from counterparties about why the contracts should not be allowed to be rejected.
- Issues Related to Insolvencies of Educational Institutions and Companies and Marijuana-Related Businesses: In the areas of educational institutions and in marijuana-related businesses non-bankruptcy law bars debtors from relief that is otherwise available under the Bankruptcy Code. This program will discuss the reasons for these obstacles, recent cases exploring the issues and the direction in which the law seems headed. Specifically, the following bankruptcy challenges in these specialized industries will be addressed: (a) Educational Institutions: Title IV of the Higher Education Act of 1965 allows students to receive financial aid. Many schools rely heavily on the availability of this funding. However, the funding ends under Title IV once a bankruptcy filing occurs . Thus, educational institutions dependent on such funding can essentially be deprived of the ability to reorganize under Chapter 11 of the Bankruptcy Code. The Corinthian College, Inc. case will be discussed among others. (B) Marijuana-Related Businesses: Can the assets derived from a business that is legal under state law but still constitutes a federal crime be administered in a bankruptcy proceeding? Is there a basis to dismiss the petition for cause or bad faith based solely on the violation of federal law? These questions and more will be addressed along with the Tenth Circuit Bankruptcy Appellate Panel case of In re Arenas, among other cases.
This program will qualify for 1.5 MCLE credits for experienced attorneys (Details to follow)
Insurance Law Committee:
In this session, Debevoise & Plimpton LLP partner Luke Dembosky, who until recently served as Deputy Assistant Attorney General for National Security at the U.S. Department of Justice, will lead a presentation on cybersecurity, data protection and risk management issues of interest to those who advise insurance companies and other financial institutions. Topics will include:
- Emerging cyber threats and considerations when planning for incident response
- The regulatory landscape, such as recent developments on cybersecurity matters for institutions subject to regulation by the New York State Department of Financial Services and the work of the NAIC Cybersecurity Task Force, including the NAIC's March 2016 exposure of the Insurance Data Security Model Law
- Cyber liability insurance
This program is approved for 1.0 MCLE credit in Areas of Professional Practice, for experienced attorneys (admitted 2 years or more).
Not-for-Profit Corporations Law Committee:
At the meeting we will be discussing recent amendments to the Non-Profit Revitalization Act ("NPRA"), pending NPRA legislation, and issues under the NFPCL not addressed by the NPRA.
Frederick G. Attea, Esq., Phillips Lytle LLP
Michael A. de Freitas Esq., William C. Moran & Associates, PC
David A. Goldstein, Esq., Certilman Balin Adler & Hyman LLP
Joshua E. Gewolb, Esq., Harter Secrest & Emery LLP
Michael J. Cooney, Esq. (tentative), Nixon Peabody LLP
MCLE credit is anticipated (details to follow).
Private Investment Funds:
Social Media and Crisis Management: Tales and lessons from the front lines of crisis management
Insider trading, meltdowns, government investigations; partnership splits; activist campaigns, position blow-ups and the impact of social media and the internet will be among the topics discussed on this panel.
Steve Bruce, managing partner, and Mary Beth Grover, managing director, both at ASC Advisors LLC, a leading industry communications advisory firm, this session will provide practical and actionable steps you can take to prepare for a crisis and avoid the most common mistakes. We are also pleased to be joined by Karl Wachter, General Counsel of Magnetar Capital.
In addition, the panel will share new research about the impact of social media and interest on private funds.
Whether managing a large firm or in solo or small firm practice, attorneys should be aware of measures they can take to prevent PR crises from happening in the first place; but also—in advance—how to effectively deal with those issues if (or when) they do come. Emphasis at this meeting will be on private investment funds, but the topics are broadly applicable for practice management generally.
MCLE credit information will follow.
Technology & Venture Law Committee:
Music Licensing Online: Who Pays for What? and Deal Terms vs. Valuation—the effect that terms and funding rounds have on payout structures and exit hurdles
Robert W. Clarida, Esq., Reitler Kailas & Rosenblatt LLC
Sanjay Gandhi, Esq., Oxford Valuation Partners
MCLE credit is anticipated; details to follow.
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