On April 14, Tonkon Torp partners Danny Newman and Ava Schoen were panelists at the 36th Annual NW Bankruptcy Institute. The event was held in Portland and was co-sponsored by the OSB Debtor-Creditor Section and the WSBA Creditor Debtor Rights Section.
Danny, who was also a member of the event’s planning and host committee, joined a federal appellate case review panel. The panelists looked at appellate cases that touched on a broad array of closely watched bankruptcy issues including fundamental procedural questions related to conversion from chapter 11 to chapter 7, the solvent debtor exception and its impact on whether classes are impaired, IRS tax liens on exempt property, the adequate assurance requirement for rejecting leases, and whether electricity is a good under Section 503(b)(9) of the Bankruptcy Code.
Ava’s panel focused on Subchapter 5 of Chapter 11, a bankruptcy law which went into effect in February, 2020 with the intent to make reorganization more accessible to small businesses. The panelists shared a typical timeline of a Subchapter 5 case, and a snapshot of outcomes from national and local Subchapter 5 cases. During their discussion, the panelists reviewed recent bankruptcy court cases to explore what is working and what issues have been developing with the new reorganization option. They concluded their session by sharing tips from their respective experiences working with Subchapter V cases and as Subchapter V trustees.
Danny Newman is a partner in Tonkon Torp’s Litigation Department, where he focuses his work in bankruptcy and reorganization and serves as Co-Chair of the Government Solutions Practice Group. He has worked on the largest chapter 11 cases in the Pacific Northwest, and represented debtors and creditors of all kinds in state court litigation and out-of-court workouts.
Ava Schoen’s practice focuses on Chapter 11 corporate reorganizations and debtor-creditor law, as well as commercial litigation. She has provided services to clients in industries including real estate, retail, manufacturing, farming, and technology. Ava has experience representing Chapter 11 debtors-in-possession as well as creditors, including in several of the largest bankruptcy cases in the region.