Rafael Zahralddin is the moderator and program chair of the Business Bankruptcy Committee’s Chapter 11 Luncheon on April 14, 2011 addressing Bank Holding Company Insolvencies at the upcoming American Bar Association’s Business Law Section Spring Meeting in Boston, Massachusetts. The Business Law section is one of the largest sections of the American Bar Association and the Business Bankruptcy Committee is the world’s largest organization of business bankruptcy lawyers.
The program explores the insolvency of bank holding companies. The panelists will discuss the options available to bank holding companies, including under Dodd-Frank, prior legislation (including Gramm-Leach-Bliley), and chapter 11. Issues addressed will include jurisdiction, distressed-asset sales, tax refunds and net operating loss allocation disputes, intercompany claims, and the treatment of creditors. Be prepared for insightful analyses of Washington Mutual (the largest banking failure in U.S. history) and the FDIC as the receiver who arranged and approved a sale to JPMorgan of the WAMU operating assets and AmericanWest Bancorp (a bank holding company that filed chapter 11 to sell its banking subsidiary to satisfy regulatory capital requirements).
Rafael Zahralddin, the Managing Shareholder of the firm’s Delaware office which served as Delaware Special Litigation Counsel to the Debtors in a $4 billion case in controversy against JPMorgan. The matter was resolved recently by a global settlement that is the foundation to the plan of confirmation in the chapter 11 of the debtors. Shareholder Neil Lapinski and counsel Shelley Kinsella are part of the Elliott Greenleaf team assisting the debtors, and the firm has acted as conflicts counsel in several other matters in the bankruptcy on behalf of Washington Mutual.