Partner Seth Lieberman Weighs in on the Future of Chapter 11
Partner Seth Lieberman, a member of the Bankruptcy, Restructuring and Creditor's Rights Group, spoke to Law360 for the article, "Future Of Ch. 11 Hinges On Long-Awaited Report."
After more than two years of research, the American Bankruptcy Institute will publish a report recommending refurbishing the U.S. Bankruptcy Code. The report, produced by 22 appointed commissioners and 13 advisory committees, could forever change how distressed companies go about reorganizing.
Addressing subjects like creditors’ rights, labor and benefit issues, valuation disputes and safe harbors, the commission’s work is intended to try to bring U.S. bankruptcy law and process in line with today's financial world.
The Law360 article notes that the report is expected to recommend limiting the influence secured creditors have due to their collateral position. Partner Seth Lieberman commented,"“You will certainly see secured creditors eyes-wide-open as to how the commission proposes curtailing their ability to otherwise exercise control over Chapter 11 cases."
For the full article, please click here.
