January 1, 2011
Bankruptcy Legislation, Regulation To Watch in 2011
Speaking on legislative and regulatory issues that may impact the year ahead in bankruptcy, Michael Wilson and J.R. Smith noted that certain provisions of 2005's Bankruptcy Abuse Prevention and Consumer Protection Act could be targeted by legislators for rollback or amendment. Wilson pointed out the impact of provisions related to commercial leases and vendor claims on retailers seeking to reorganize under chapter 11. Smith added that the net job loss as a result of these provisions in the retail spaces and the large financial institutions is significant.
Wilson's nationwide bankruptcy practice focuses on bankruptcy and creditors' rights, loan workouts, reorganizations and corporate recovery. Smith's transactional and litigation practice focuses on domestic and international representation of clients on issues related to crisis management, workouts, insolvencies and liquidations.