Lieberman Offers Insights on First-Day Bankruptcy Motions
Pryor Cashman Partner Seth Lieberman, chair of the Bankruptcy, Reorganization + Creditors’ Rights Group and co-chair of the Corporate Trust Practice, spoke with Law360 about practical approaches to first-day motions in bankruptcy proceedings.
In “How To Nail Those First-Day Bankruptcy Motions,” Seth notes that it’s important for lawyers to put a human face on their corporate clients:
Humanizing the debtor, including describing its people, founding and history, often helps the judge understand its circumstances, according to Seth H. Lieberman of Pryor Cashman LLP.
“Corporate debtors are not nameless, faceless companies, but are enterprises founded and run by people,” Lieberman added.
He also talks about the importance of knowing a judge’s preferences and circumstances:
According to Lieberman, one judge, whom he declined to name, has a habit of asking lawyers whose motions involve sureties to define “surety bonds” in order to test the lawyer’s understanding of the substance of what they are presenting. Various judges have different preferences about granting interim versus final relief, especially before the unsecured creditors committee is formed.
Lieberman also once faced a judge who had heard seven hours of live trial testimony before he attended the emergency first-day motion that evening. Noticing the judge’s condition, the parties at the hearing tailored their remarks and got through their presentations in an abbreviated fashion. The judge appreciated that the parties recognized his condition and wanted to get straight to the parties’ arguments.
“What other matters the judge is dealing with might affect their temperament and approach,” said Lieberman.
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