Asa S. Hami Interviews Chief Judge Sheri Bluebond for Insolvency Law Committee’s Eighth Judicial Profile
In conjunction with other members of the...
In conjunction with other members of the State Bar’s Insolvency Law Committee (ILC), Asa S. Hami, advisor to and immediate past Co-Chair of the ILC, interviewed the Honorable Sheri Bluebond, United States Bankruptcy Judge in the Central District of California, for the eighth judicial profile in the ILC’s ongoing profile series.
The profile shares Judge Bluebond’s history as a litigator and bankruptcy practitioner, her transition to the Bench and rise to Chief Judge, her commitment to implementing technology into the courtroom—her courtroom will be one of the first outfitted with new technology as part of the Roybal Realignment—and insights from the Bench.
The ILC is a standing committee of the State Bar of California’s Business Law Section, which is dedicated to educating its members on all issues pertaining to business law.
In addition to the profile of Judge Bluebond, Mr. Hami has also co-authored a number of other bankruptcy judge profiles, which are included in our Guide to Ninth Circuit Bankruptcy Judges in California. Read the full overview.
SulmeyerKupetz is a proud supporter of the Turnaround Management Association (TMA) SoCal’s November networking event. Held on Thursday, November 9 from 6 PM – 8 PM at the LINE Hotel, the event will feature drinks and food by noted chef Roy Choi.
TMA is an organization with a network of more than 9,000 turnaround practitioners, bankruptcy attorneys, lenders, bankers, workout officers, investors and other related professionals worldwide.
We are pleased to announce that U.S. News – Best Lawyers® has ranked SulmeyerKupetz on the 2018 Best Law Firms list in Los Angeles for our work in bankruptcy and creditor debtor rights, as well as insolvency and reorganization law.
The U.S. News – Best Lawyers® “Best Law Firms” rankings are based on a rigorous evaluation process that involves the collection of client and lawyer evaluations, peer review from leading attorneys in their field and review of additional information provided by law firms.
Legal analytics company Lex Machina recently published a report titled “2017 Report on Bankruptcy Litigation in District Courts,” which examined how appellants and appellees fare on appeal and which districts see the most appeals from bankruptcy court based on data from 2009 onward. In this analysis, SulmeyerKupetz was named among the top 15 firms nationwide representing appellees and appellants in bankruptcy appeals to district courts.
As discussed by Law360, the report showed a high degree of homogeneity between the parties involved on both sides of the docket in bankruptcy appeals—the major firms involved tend to stay constant, regardless of whether they’re representing appellants or appellees. Brian C. Howard, a legal data scientist and associate general counsel at Lex Machina, said that this trait is unique to bankruptcy appeals.
“For most of the other practice areas we cover, like patents or employment litigation, you tend to see very different firms on either side of the docket,” Howard said. “Granted, bankruptcy appeals are inherently a bit different, but the overall commonality was striking nonetheless.”
It’s estimated that roughly 25 percent of America’s malls will close in the next five years—established retailers such as Macy’s and Sears have announced multiple store closings, while others like American Apparel and Wet Seal have filed for bankruptcy. More closings and bankruptcies are likely on the way, and the number of retail companies that have filed for Chapter 11 bankruptcy is approaching its highest level since 2008.
In his Daily Journal article “Legal Strategies to Help Retailers in This Difficult Environment,” Jeffrey Pomerance, the head of the Transactional Practice for SulmeyerKupetz, outlined legal tactics that attorneys representing retailers can consider to help their clients weather the storm. These strategies include revisiting supplier contracts, lease terms and the company’s capital structure, as well as exploring opportunities to create additional value through the retailer’s intellectual property.
Pomerance concluded the article by noting that attorneys representing retail clients can and should be actively engaged in the process of developing proactive strategies to conserve cash and increase revenue. “This additional runway can often permit the brick-and-mortar retailers to implement business and inventory control strategies to survive and indeed succeed in this otherwise difficult retail market,” he wrote.
Debtors frequently transfer assets to foreign transferees. Recovering those assets in bankruptcy as a preference, fraudulent transfer, or unauthorized post-petition transfer, might require convincing the Bankruptcy Court that applicable sections of the Bankruptcy Code apply extraterritorially.
Opinions among the circuits are far from uniform, and recent cases have only widened the disparate views. Convincing a Bankruptcy Court to assert jurisdiction over an avoidance claim involving a foreign transferee may hinge on understanding the different perspectives that courts have been applying to the concept of “extraterritoriality.”
In the complimentary CLE-accredited webinar “The Ins and Outs of Extraterritoriality in Bankruptcy Cases,” SulmeyerKupetz Senior Counsel Dave Richardson discussed extraterritorial application of the Bankruptcy Code’s avoidance statutes, as well as: