Attention:
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Preference Update - SBRA Due Diligence Requirement


Level: Intermediate
Runtime: 71 minutes
Recorded Date: April 08, 2020
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Agenda

  • Small Business Reorganization Act
  • What is "Reasonable Due Diligence"?
  • How to Address this New Requirement
  • SBRA Venue Amendment
  • Conclusion
Runtime: 1 hour, 10 minutes
Recorded: April 8, 2020

Description

The panel will discuss the Small Business Reorganization Act’s requirement that a trustee (or debtor-in-possession) take into account a defendant’s defenses before bringing an action. This amendment, which is applicable in all cases, requires the plaintiff to engage in reasonable due diligence regarding a defendant’s affirmative defenses before initiating a preference action. The panel will discuss different approaches to satisfy the new requirement.

This program was recorded on April 8th, 2020.

Provided By

American Bankruptcy Institute
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Panelists

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Timothy J. McKeon

Associate
MIntz, Levin, Cohn, Ferris, Glovsky, and Popeo, P.C.

Tim’s practice focuses primarily on representing institutional investors, bond trustees, lenders, and other creditors in Chapter 11 bankruptcies and reorganizations, out-of-court workouts, and bankruptcy litigation matters across a variety of industries, including health care, retail, higher education, and real estate. Tim also represents clients in connection with commercial financing transactions and in complex commercial disputes.

Tim’s broad experience in bankruptcy litigation and general case administration includes representations of Chapter 11 debtors and trustees, post-confirmation liquidation trusts, secured and unsecured creditors, landlords, directors and officers, and asset purchasers on issues related to relief from stay, adequate protection, valuation, disguised financing, fraudulent transfer, plan confirmation, assumption/rejection of leases and executory contracts, Rule 2004 examinations, and appellate litigation.

Prior to joining Mintz, Tim was an associate in the Boston office of a full-service law firm, where he worked on a variety of bankruptcy and litigation matters. Previously, Tim was an associate in the Portland, Maine office of a regional, full-service law firm, where he gained substantial experience representing Chapter 11 debtors, and a mid-sized law firm in New York City. While in law school, Tim served as a judicial intern to Honorable Carla E. Craig of the United States Bankruptcy Court for the Eastern District of New York and the Honorable Robert E. Grossman of the United States Bankruptcy Court for the Eastern District of New York.

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Bethany J. Rubis

Associate
ASK LLP

Bethany J. Rubis is an Associate at ASK LLP. Bethany represents trustees and debtors in possession in preference analysis and litigation of avoidance actions. Prior to joining ASK LLP, Bethany worked as a law clerk for Marilyn J. Michales Family Law in Eden Prairie, Minnesota. Before her employment at Michales Family Law, Bethany also clerked for criminal defense attorneys in the twin cities area and volunteered as a Law Clerk for the Cordoza Society (2013) and the Minnesota Justice Foundation Criminal Expungement program (2013).

Bethany is admitted to practice law in the State of Minnesota and the United States District Court for the District of Minnesota.

Bethany is a member of the Minnesota State Bar Association Bankruptcy, the International Woman's Insolvency & Restructuring Confederation (IWIRC ), New Lawyers Sections and the American Bankruptcy Institute.

Bethany graduated cum laude from Mitchell Hamline School of Law (J.D. 2016) in St. Paul, MN and from the College of St. Benedict (B.A. 2007; Psychology) in St. Joseph, MN. While at both Mitchell Hamline and St. Benedict’s she earned awards for her academic achievements and her public service.

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Hon. Jerrold N. Poslusny

Judge
U.S. Bankruptcy Court - District of New Jersey

Jerrold N. Poslusny, Jr. was appointed to the bench for the United States Bankruptcy Court for the District of New Jersey in Camden, New Jersey in June 2015. Prior to his appointment, Judge Poslusny served as Law Clerk to the Honorable E. Stephen Derby and James F. Schneider, United States Bankruptcy Judges for the District of Maryland, then as an associate and member with the firm of Cozen O’Connor P.C. in Cherry Hill, New Jersey, and finally as shareholder of Sherman, Silverstein, Kohl, Rose & Podolsky, P.A. in Moorestown, New Jersey. Judge Poslusny concentrated his practice in bankruptcy law, workouts and commercial litigation.

Judge Poslusny received his B.S. degree from the Pennsylvania State University and his J.D. degree from the University Of Maryland School Of Law. He is admitted to the state bars and district courts of Delaware, Maryland and New Jersey, and the Third and Fourth Circuit Courts of Appeal. He is a member of the National Conference of Bankruptcy Judges, American Bankruptcy Institute, Association of Insolvency and Restructuring Advisors and the Camden County Bar Association. Judge Poslusny has served as an editor, author and frequent lecturer to professional and educational organizations.

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Shane G. Ramsey

Partner
Nelson Mullins Riley & Scarborough, LLP

Shane G. Ramsey is a partner in the Nashville, Tenn., office of Nelson Mullins Riley & Scarborough, LLP, where he focuses his practice on financial restructuring, bankruptcy and corporate trust matters. He regularly represents committees of unsecured creditors, indenture trustees, secured creditors, unsecured creditors, bondholders, noteholders, liquidation trustees, plan administrators, disbursing agents and other entities in bankruptcy reorganizations, liquidation proceedings and bankruptcy-related litigation.

Mr. Ramsey also has experience handling complex civil litigation matters in both state and federal courts and in alternative dispute resolution settings, including arbitration and mediation. His business litigation experience includes contract disputes, business torts, breach of fiduciary duties, officer and director liabilities, and other general litigation matters.

Mr. Ramsey is admitted to practice in Tennessee, Florida and Georgia, and before the U.S. District Courts for the Middle, Northern and Southern Districts of Florida, the Northern and Middle Districts of Georgia and the Eastern District of Michigan, and the U.S. Court of Appeals for the Eleventh Circuit.

Mr. Ramsey received his B.A. magna cum laude in 2003 from the University of Tampa and his J.D. with high honors in 2006 from Florida State University College of Law, where he was a member of the Order of the Coif and a senior articles editor of the Florida State University Law Review.


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