Otterbourg Attorneys Speak at American Bankruptcy Institute Conference
April 3, 2011
Otterbourg partner and chair of its insolvency practice, Scott L. Hazan, was a panelist in the recent 29th Annual American Bankruptcy Institute meeting held on April 2, 2011 at the Gaylord National Resort and Convention Center in National Harbor, Maryland. The panel, "Chapter 11 Creditors' Committees and Examiners (Are They Effective?)", focused on both the statistical data and case experience relating to the functionality and effectiveness of Creditors' Committees and Examiners as well as related costs. Scott discussed certain extreme cases involving Creditors' Committees and Examiners that are on the cutting edge.
At the Conference, David M. Posner, another member of the firm, and co-chair of the ABI Committee for Unsecured Trade Creditors, led and participated in a panel on "Unsecured Trade Creditors--Intercreditor Agreements between Junior and Senior Lenders and the Impact Recent Developments Have Had on the Treatment of Trade Creditors." Panelists included Jesse Austin, Sarah Borders, Sharon Levine and Laurence Forte. The panel presented the perspective of first lien lenders, second lien lenders, committee counsel and trade creditors. David discussed the impact of second lien creditors seeking to sit on a creditors' committee, on committee formation, how their interests diverge from trade creditors and the impact of second lien creditors on committee dynamics generally.