Description
According to the U.S. Trustee, cryptocurrency and other digital assets are appearing more frequently in bankruptcy cases. Cryptocurrency litigation is soaring, prompted by a surge of investors in the space. It has generated more than 200 class action lawsuits, not including private lawsuits.
One of the allures of virtual assets is the ability to trade them anonymously, which is opposed to the absolute transparency required under the Bankruptcy Code. Creditors need procedures for investigating, safeguarding, and administering digital assets. Bankruptcy lawyers must understand how these assets create value, how they can be collateralized, and what happens on default.
The creation and transfer of digital assets can defy conventional understanding of these terms and make enforcing the automatic stay or avoiding transfers tricky. What happens to assets in the possession of digital exchanges that file bankruptcy and the nature of the contractual obligations between the parties raises issues under Sections 365 and 363 of the Bankruptcy Code.
Listen as this panel of trailblazing experts guides counsel through the issues that must be addressed when digital assets are part of a bankruptcy.
Presented By
The primary focus of Mr. Blask’s practice has always been to work with clients to develop innovative yet prudent ways to address and resolve complex transactional, corporate and litigation matters. He represents businesses of all sizes, including financial institutions, manufacturers, tax-exempt entities, energy and natural resources companies, commercial real estate developers and investors, and Fortune 500 companies. Working in concert with his colleagues across our diverse practice groups, Mr. Blask is honored to serve as his clients’ go-to problem solver for any business that requires multidisciplinary advice.
Ms. Palumbo is Bankruptcy Senior Counsel for NextEra Energy Resources, LLC (NEE NYSE), Juno Beach, Florida, a clean energy leader and one of the largest wholesale generators of electric power and renewable energy from the wind and sun in North America. She currently provides transactional structure and court representation on bankruptcy, insolvency, and restructuring matters related to distressed investments and counterparties. Ms. Palumbo is Board Certified in Consumer Bankruptcy Law by the American Board of Certification and has been recognized with the Martindale Hubbell’s highest ranking in both legal ability and ethical standards. She has represented individual debtors, corporate debtors, unsecured creditors, secured creditors, institutional lenders and trustees across the State of Florida, Puerto Rico and the U.S.; she is a member of the Florida bar and Puerto Rico (federal) bar and is admitted to the 11th Circuit Court of Appeals. Ms. Palumbo holds a Master of Law Degree (LL.M.) in International Law from the University of Miami, as well as a Juris Doctor (J.D.) Degree from St. Thomas University. She is a member of ABI, INSOL, and on a local level she is a member of the Florida Bar digital Assets Committee, Co-Chair of the Communications Committee of the Business Law Section of the Florida Bar and intensely committed to the Financial Literacy Task Force of the Business Law Section of the Florida Bar.
Mr. Tully is the Vice-Chair of the Business Litigation Practice Group and serves a303-348-2404s the Team Leader for the firm’s Community Bank and Financial Institutions Team. He has extensive experience helping clients solve complex problems facing their businesses. He concentrates his practice in the areas of commercial litigation and bankruptcy matters. He routinely represents national banks in various types of litigation, including consumer and commercial disputes. He also represents businesses navigating complex debt issues in bankruptcy court. Jared works closely with his clients to obtain an effective and efficient resolution of litigated matters through litigation or seizing early resolution possibilities.
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This 90-minute webinar is eligible in most states for 1.5 CLE credits.
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Date + Time
- event
Wednesday, September 28, 2022
- schedule
1:00 p.m. ET./10:00 a.m. PT
- Overview of digital assets
- How digital assets create value
- Digital assets and key bankruptcy processes
- Administration
- Classification
- Valuation
- Recovery
- Crypto exchange bankruptcies
The panel will discuss these and other key issues:
- Is digital currency a contract or property?
- How is cryptocurrency valued in bankruptcy?
- What is the property of a cryptocurrency exchange's bankruptcy estate?
- Can NFTs be used to finance a plan or adequate protection?
