Nondischargeability of Corporate Debt in Subchapter V: Disrupting Debtor-Creditor Bargaining Power
Recording of a 90-minute CLE video webinar with Q&A
This CLE webinar will steer counsel through the uncertain law regarding whether, when a plan is confirmed under Bankruptcy Code Section 1191(b), Subchapter V of Chapter 11 affords corporate debtors a broader discharge than individual debtors would receive, and how the answer impacts debtor and creditor bargaining power and strategies. After thoughtfully critiquing Cantwell-Cleary Co. Inc. v. Cleary Packaging L.L.C. (In re Cleary Packaging L.L.C.),36 F.4th 509 (4th Cir. 2022), the panel will explore the challenges of proceeding against entities under Section 523(a) and strategies for counsel on all sides of the issues.
Outline
- The interplay between Sections 1192 and 523
- Relevant case law and analysis
- Critique of Cleary
- Proceedings against entities under Section 523: special problems
- Enforcing a judgment of non-dischargeability
Benefits
The panel will review these and other key issues:
- Does footnote 2 of Clearly resolve or gloss over critical statutory language differences?
- How would an objecting creditor establish the requisite intent for certain types of Section 523(a) allegations? Who are the debtor's agents for these purposes?
- Does Cleary attempt to solve a problem that is already solved by other sections of the Bankruptcy Code, such as Section 510?
- When can a non-dischargeable debt be collected and from what assets may it be collected?
Faculty
Stephen Metz
Principal
Offit Kurman
Mr. Metz concentrates his practice in litigation involving bankruptcy, creditors' rights, title disputes and real... | Read More
Mr. Metz concentrates his practice in litigation involving bankruptcy, creditors' rights, title disputes and real estate. He frequently represents debtors, creditors, and other parties in bankruptcy cases in various industries, including telecommunications, retail, financial services, real estate, insurance and consumer credit. Mr. Metz also regularly represents owners, lenders and other parties in real estate disputes, including matters involving lien priority, easements, equitable subrogation, reformation of deeds and deeds of trust, conflicts between neighbors, real estate contracts and other title-related actions in state and federal courts at the trial and appellate levels. He often represents parties in real estate disputes with family members.
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Adam R. Prescott
Shareholder
Bernstein Shur Sawyer & Nelson
With experience in a broad range of industries, including healthcare, hospitality, food and beverage, manufacturing,... | Read More
With experience in a broad range of industries, including healthcare, hospitality, food and beverage, manufacturing, retail, technology, transportation, and banking, Mr. Prescott helps businesses and individuals accomplish their goals by working closely with his clients and their advisors to understand the specifics of each situation and provide creative, cost-effective solutions to complex problems, both inside and outside of the courtroom.
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R.J. Shannon
Partner
Shannon & Lee
An experienced business attorney, Mr. Shannon focuses his practice on bankruptcy, financial restructuring, and related... | Read More
An experienced business attorney, Mr. Shannon focuses his practice on bankruptcy, financial restructuring, and related business matters. He frequently represents debtors, creditors, committees, trustees, and other parties in out-of-court workouts, bankruptcy cases, and related adversary proceedings.
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Amy E. Vulpio
Partner
White and Williams
Ms. Vulpio focuses her practice on creditor and debtor representation, bankruptcy appellate work and bankruptcy-related... | Read More
Ms. Vulpio focuses her practice on creditor and debtor representation, bankruptcy appellate work and bankruptcy-related commercial litigation. Her experience representing both creditors and debtors gives her the breadth of perspective needed to advise her clients as to the priorities and motivations of the party across the table. Using this understanding, Ms. Vulpio works closely with her clients to formulate creative legal strategies and helps her clients achieve their goals through negotiation or litigation.
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