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About the Course
Introduction
This CLE webinar will discuss the provisions of the Bankruptcy Code and other sources of authority, such as the Model Rules of Professional Conduct, that present numerous "traps for the unwary" in bankruptcy. The program will analyze how experienced—and otherwise exemplary—attorneys, financial advisers, and official creditors' committee members in specific Chapter 11 cases were disciplined, forced to disgorge fees, and in some cases imprisoned because they failed to correctly navigate the numerous and overlapping ethical and professional rules governing their conduct. The panel will discuss how to avoid these missteps.
Description
Bankruptcy attorneys are subject to complex, nuanced, and overlapping sources of ethical requirements. Some are codified and some are unwritten guidelines and policies set by the Office of the United States Trustee or even individual judges. The money at stake and bankruptcy's intense and fast deal-making atmosphere create incentives for corner cutting. But the penalties practitioners may face for violations of ethical obligations can be severe, even when the misstep was unintentional.
Bankruptcy attorneys must constantly deal with the tension between bankruptcy policy favoring disclosure of all known facts and information and state legal ethics rules and regulations that put a premium on maintaining a client's "confidences," not just privileged communications.
Bankruptcy lawyers must also bear the burden of heightened and more complex rules regarding conflicts of interest outlined in the Bankruptcy Code and reassess conflicts throughout that case. Even the best conflicts software has failed sophisticated firms in ferreting out disqualifying conflicts. Law firm mergers and attorney moves complicate matters.
Listen as this experienced panel guides counsel through the maze of state and bankruptcy ethical rules, explores how some of the best firms ran afoul of them, and how to avoid similar missteps.
Presented By
Mr. Hirschfield, named to Best Lawyers since 2018 for Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law, and recognized by New York Super Lawyers annually since 2011, focuses his practice on bankruptcy, business restructuring, creditors’ rights, litigation, and debt finance. With 30 years of experience as an attorney, Mr. Hirschfield regularly represents parties in bankruptcy proceedings and related litigation throughout the country. He is also a court-certified mediator and is appointed to mediation panels formed by the United States Bankruptcy Courts for the District of Delaware and for the Southern and Eastern Districts of New York. Mr. Hirschfield is a member of the American Bankruptcy Institute and a member of the Turnaround Management Association. He serves on the Board of Directors of the Turnaround Management Association's New York Chapter. Mr. Hirschfield is also an accomplished debt finance attorney, regularly representing lenders and borrowers in a wide range of transactions, including secured, unsecured, unitranche, first lien/second lien, and senior/mezzanine structures, as well as term loans, revolving facilities, and asset-backed loan facilities.
Mr. Skapof has been recognized as a NY Super Lawyers top-rated bankruptcy attorney for the twelfth consecutive year. He focuses his practice on in- and out-of-court debt restructurings, creditors’ rights, debtor and estate fiduciary representations, healthy and distressed debt financing, lending, DIP and exit financing, bankruptcy litigation, distressed M&A, corporate governance, and bankruptcy-remote transactions. Mr. Skapof has experience advising financially distressed healthcare companies on restructuring options, including representing healthcare debtors and creditors in Chapter 11 cases and serving as counsel to court-appointed patient care ombudsmen. He is an active leader in the restructuring and bankruptcy community, serving as a Global Trustee of the Turnaround Management Association (TMA) and a member of its Chapter Resource and Response Committee.
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This 90-minute webinar is eligible in most states for 1.5 CLE credits.
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An excellent opportunity to earn Ethics CLE credits. Note: BARBRI cannot guarantee that this course will be approved for ethics credits in all states. To confirm, please contact our CLE department at pdservice@barbri.com.
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Date + Time
- event
Tuesday, September 29, 2026
- schedule
1:00 PM ET/10:00 AM PT
I. Introduction
II. Disclosure is king
III. Bankruptcy Code Sections 327-330 retention and payment requirements
IV. Debtor issues
V. Creditor committee issues
VI. Ad hoc committees and multiple creditor representations
VII. Use of conflicts counsel
VIII. Compensation
IX. Ethical issues in Section 363 sales
The panel will discuss these and other key issues:
- What are the most frequent causes of ethical violations in bankruptcy?
- Can firms or counsel rely too much on software, automation, and non-lawyers to perform critical tasks?
- What should counsel do if they discover a problem?
- What strategies are available when stakeholders oppose approval of counsel or seek disqualification for their self-serving advantage?
Related Courses
Bankruptcy Ethics and the High Cost of Noncompliance
Tuesday, September 29, 2026
1:00 PM ET/10:00 AM PT
