On Demand
Audio
Ethical Rules and Pitfalls: What Every Bankruptcy Professional Needs to Know
Produced on February 07, 2017
Course Information
Course Description
Bankruptcy practice can be an ethical minefield for attorneys who practice bankruptcy law, and there are many traps for the unwary. In addition to state ethics rules, regulations, and caselaw that apply to all attorneys, attorneys who practice in the bankruptcy field must comply with the conflicts rules and other ethical rules that are specific to bankruptcy practice. For example, the Bankruptcy Code and Bankruptcy Rules impose “disinterestedness” and disclosure requirements on estate professionals that are not found outside of the bankruptcy space. In addition, attorneys who represent individual debtors in consumer bankruptcy cases are subject to specific rules and regulations.
This course, presented by Stephen Basedow of the Law Office of Simon Goldenberg, PLLC and Michael J. Riela of Tannenbaum Helpern Syracuse & Hirschtritt LLP, addresses the ethical rules that business and consumer bankruptcy attorneys must know to protect their client relationships, their fees and their professional reputations.
Learning Objectives:
- Identify retention/disinterestedness issues in business cases, such as representing multiple debtors, representing closely-held companies, connections with the debtor’s management, and connections with creditors
- Understand the methods to cure potential conflicts issues, such as waivers and consents, walls, employment of conflicts counsel, and waivers of pre-petition claims
- Articulate the disclosure requirement of the 2014 Bankruptcy Rule and understand recent case law involving non-existent, incomplete or inaccurate disclosures by estate professionals
- Identify acceptable fee arrangements in consumer cases, including the unbundling of fees
- Understand the ethical issues relating to pre-bankruptcy “asset protection” planning
Credit Information
Faculty
Stephen Basedow
Law Office of Simon Goldenberg, PLLC
Stephen W. Basedow, Esq., is an associate attorney at the Law Firm of Simon Goldenberg, PLLC. He concentrates on matters involving consumer debt litigation, real estate transactions and consumer bankruptcy law. He is a graduate of Chaminade College Preparatory School, the University of Texas at Austin, (B.A.) and Hofstra University School of Law, (J.D.)
He is admitted to practice in New York State and the Southern and Eastern Districts of New York. Prior to joining the firm, Mr. Basedow served as an associate at Fox Rothschild, LLP and Lieb at Law, P.C. In addition to his work as an attorney, Mr. Basedow is licensed by the State of New York as a Real Estate Instructor and Broker.
Michael Riela
Tannenbaum Helpern Syracuse & Hirschtritt LLP
Michael Riela advises clients in complex corporate restructuring and bankruptcy matters. He has in-depth experience in advising clients in corporate and real estate Chapter 11 and Chapter 7 bankruptcy cases, out-of-court restructurings, M&A transactions involving distressed sellers, debtor-in-possession (DIP) and bankruptcy exit loan facilities, secondary market trading of distressed debt and trade claims, and insolvency-related litigation. He has particular experience defending complex preference and fraudulent transfer cases, and with handling professional retention and fee dispute matters in bankruptcy cases. Michael’s restructuring and bankruptcy practice spans across numerous different industries, though much of his recent work is focused on the staffing, real estate, construction, retail, technology, and cannabis industries.
Reviews
Excellent speakers. Lots of material presented.
Very nicely done!
Excellent and relevant information
Very good class!
This may be the best CLE I've seen.
Excellent. Very helpful.
The audio recording was enjoyable.
This is an area I do not know; much less know the ethical responsibilities. I found it very helpful and interesting.
very good information.
Great presentation
Excellent course. Contains many good practice points
Well presented and delivered. Most informative.
Useful information.
Very Good information. Good reminders for those practicing bankruptcy law.
great presentation especially going into various chapters in bankruptcy 7, 13, and 11
GREAT COURSE
clear and crisp. Thanks.
Helpful for new attorney attempting to learn all of the intricacies of bankruptcy especially from an ethical standpoint.
Good course.
Many interesting points, some as a refresher course, and some new.
The speakers very much appeared to know the subject well!!
Great!
Very thorough
Great presenters and great content.
Very informative.
Presenters worked well together
I enjoyed this presentation. It was very informative.
Good info, well done. Kudos.
This is excellent for a young law new to the special rules governing bankruptcy proceedings. Mostly, it was about "full disclosure" which is beat into lawyers' heads while still in law school. I've practiced in both Philadelphia, PA and now in Florida since 1970. So, for me, and I guess other experienced practitioners, the tough issues arise when you have an individual client whose company - wholly-owned or not, files for bankruptcy. There, more often than not the individual is a substantial creditor of the bankrupt company. Here is where the ethical problems arise, Who is your client? And when you need to choose only one to represent given the potential conflicts of interest. No one wants to recommend to a long standing client to secure new counsel. On this and other such thorny practical issues that can get one disbarred, the course was generally silent. Labeling the course as a beginner's guide through the ethical pitfalls of bankruptcy would help identify who could benefit from the course.
Excellent refresher!
First rate bankruptcy presentation concerning ethical issues and concerning pre-bankruptcy planning
A good presentation.
Both did a good job of making the appropriate warnings about traps for the unwary
Very detailed, an excellent presentation.
Well Done.
Well done. Highly recommend.
Good speakers
Well-informed speakers supply significant practice pointers for business and consumer bankruptcy attorneys so they can dodge any ethical minefields and duck traps for the unwary all while protecting their client relationships, fees and professional reputations.
Very informative. Quality Staff.