Ethical Rules and Pitfalls: What Every Bankruptcy Professional Needs to Know
Created on February 07, 2017
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.
- 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
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