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FREE Audio Conference

Hosted by The Beard Group Law and Business Publishers

Update on Bankruptcy Code Rule 2019: Recent Rulings and Impacts

Wednesday, March 24, 2010
Time: 1:30 PM EST
Length: 90 Minutes
Cost: FREE

*Click here to see date/time in your locale.

Distressed Investing may never be the same after the Delaware Bankruptcy Court’s ruling In re: Washington Mutual which ruled that creditors as members of ad hoc committees can't appear in a case unless they reveal the details of their holdings and the extent of their other positions in the capital structure. The New York Courts are following the same path. Bankruptcy Courts in Texas seem to disagree. The Bankruptcy Rules Committee is considering even tougher disclosures for creditors. Rule 2019 seriously impacts investors’ ability to hide confidential positions they have in the debts and equity of Chapter 11 debtors. This session will examine the new cases, their history, and the future of this development on the rule as well as examine strategies distressed investors might use.

Speaker Background

HIgh ray Hugh Ray is a Principal in McKool Smith's Houston and New York offices. During more than 40 years as a practicing attorney, Mr. Ray has played a lead role in some of the country’s most recognizable bankruptcy proceedings.

In addition to making several appearances before Congress to testify on proposed amendments to the Federal Bankruptcy Code, Mr. Ray also has served in leadership positions with many notable bankruptcy and business groups. Prior to his work in private practice, Mr. Ray worked as an Assistant United States Attorney in Houston.

Mr. Ray is co-author with Ben Branch of Bankruptcy Investing: How to Profit from Distressed Companies published by Beard Books.

Professional Activities

Business Bankruptcy Specialist, Texas Board of Legal Specialization; Business Bankruptcy Specialist, American Board of Bankruptcy Certification; American College of Bankruptcy; American Law Institute; Chair of the ABA Business Law Section's Business Bankruptcy Committee (with approximately 1,400 practitioners)(1993-1996); Council of the Business Law Section of the American Bar Association (1997-2001); Member of the Standing Committee of the American Bar Association on Judicial Selection, Tenure and Compensation; Chair of the ABA's Energy Business Committee; Chair of the ABA Joint Ad Hoc Committee on Bankruptcy Court Structure and Insolvency Processes; and Chair of the ABA Committee on Trust Indentures and Indenture Trustees.

Awards and Recognition

Named #1 in Texas in Bankruptcy Law, Texas Lawyer - Go To Guide (October 2002); his peers named him to the list of Texas Super Lawyers in Bankruptcy and Creditor/Debtor Rights(2003-2009); he is featured in America's Leading Business Lawyers - Insolvency/Corporate Recovery, Chambers USA; he is listed in The Best Lawyers in America; and he was profiled as one of the leading Bankruptcy lawyers in the Southwest, The US Legal 500 (2009).