Financial Lawyers Conf Program on Claims Trading

FINANCIAL LAWYERS CONFERENCE

In or Out? Do creditors become insiders for claims trading purposes by negotiating plan treatment with the debtor and other constituencies?

Thursday, February 9, 2012

In September 2011, Bankruptcy Judge Walrath issued an opinion in the Washington Mutual case, finding that colorable claims for “equitable disallowance” had been stated against certain creditors who were negotiating a settlement of plan issues based upon alleged “insider trading” by those creditors during the bankruptcy case. Some of the alleged nonpublic information concerned the prospects for a consensual plan, something that the creditors knew by virtue of their involvement in settlement discussions.

This program analyzes the backdrop to and potential implications of the Washington Mutual opinion, including the general rules applicable to trading debt inside and outside of bankruptcy, questions raised by different elements of the opinion, and ramifications of the opinion for individual creditors, informal groups of creditors, debtors, and their respective counsel. The program will offer the perspectives of both bankruptcy and non-bankruptcy attorneys on the ripples created when bankruptcy and securities laws collide.

Speakers: Whitman L. Holt, Klee, Tuchin, Bogdanoff & Stern LLP Thomas E. Patterson, Klee, Tuchin, Bogdanoff & Stern LLP Gary J. Cohen, Sidley Austin LLP

Location: The Beverly Hilton 9876 Wilshire Boulevard Beverly Hills, California

Time: 6:00 pm – 7:00 pm – Registration and Cocktail Reception with Appetizers & Buffet 7:00 pm – 8:00 pm – Program

Cost: $70.00 FLC Member $85.00 Nonmembers $40.00 Lawyers in Gov’t Svc.

Financial Lawyers Conference 214 Main Street, #336, El Segundo, CA 90245 310) 322-1350 www.financiallawyers.org

Leave a Reply


5 − = two