James Sullivan Speaks on The Intersection of Bankruptcy and Cryptocurrency: What Companies Must Know and Do to Mitigate Risks
Cryptocurrency is currently gaining popularity around the world as it builds better investment opportunities for several business sectors including the financial and banking industry. However, along with its soaring prominence, issues such as insolvency, crypto-backed finance, valuation claim risks, and digital asset restructuring challenges also emerge. Uncertainty about the legal status of digital assets and how people use them in financial transactions raise novel issues in bankruptcy. Companies and individuals who invest in or conduct business using cryptocurrency need to understand how a bankruptcy proceeding may affect their rights. This, in turn, demands a sophisticated comprehension of the interplay between U.S. bankruptcy laws, the Uniform Commercial Code, and other applicable laws.
In this Knowledge Group program, bankruptcy and restructuring lawyers James Sullivan (Windels Marx Lane & Mittendorf, LLP) and David A. Mawhinney (Bowditch & Dewey LLP) will help related practitioners and professionals plan their way through the recent trends and developments in bankruptcy and cryptocurrency. Speakers, among other things, will also offer helpful insights in carefully managing legal issues and challenges.
Key topics include:
- The Basics of Cryptocurrency
- Cryptocurrency as Collateral in Secured Transactions and Margin Trading
- Debtor’s Use of Cryptocurrency in Bankruptcy
- Smart Contracts and Smart Loans
- Creditor Rights and Duties
- Valuation Issues
- Avoidance and Recovery of Cryptocurrency Transfers
- Case Studies