Digital Assets, Cryptocurrency, and NFTs in Bankruptcy: Classification, Valuation, Recovery, and Administration

A live 90-minute CLE video webinar with interactive Q&A

This program is included with the Strafford CLE Pass. Click for more information.
This program is included with the Strafford All-Access Pass. Click for more information.

Wednesday, September 28, 2022

1:00pm-2:30pm EDT, 10:00am-11:30am PDT

Early Registration Discount Deadline, Friday, September 2, 2022

or call 1-800-926-7926

This CLE course will guide bankruptcy attorneys through the intersection of digital assets and bankruptcy. The program will offer an overview of digital assets; how they are identified, investigated, preserved, and administered; how digital assets can be collateralized and valued; and what happens to those assets when a digital asset exchange or financier seeks bankruptcy protection.

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.

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Outline

  1. Overview of digital assets
  2. How digital assets create value
  3. Applying key bankruptcy provisions to digital assets
    1. Automatic stay
    2. Executory contracts
    3. Chapter 5 actions
    4. Adequate protection
    5. Collateralization of digital currency and NFTs
    6. Plan formation
  4. Crypto exchange bankruptcies

Benefits

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?

Faculty

Blask, Jordan
Jordan S. Blask

Office Member-in-Charge
Frost Brown Todd

The primary focus of Mr. Blask’s practice has always been to work with clients to develop innovative yet prudent...  |  Read More

Palumbo, Shirley
Shirley Palumbo

Senior Counsel
Greenspoon Marder

Ms. Palumbo is a Bankruptcy and Insolvency senior counsel in the West Palm Beach, Fla., office of Greenspoon Marder...  |  Read More

Tully, Jared
Jared M. Tully

Practice Group Vice-Chair
Frost Brown Todd

Mr. Tully is the Vice-Chair of the Business Litigation Practice Group and serves a303-348-2404s the Team Leader...  |  Read More

Attend on September 28

Early Discount (through 09/02/22)

Cannot Attend September 28?

Early Discount (through 09/02/22)

You may pre-order a recording to listen at your convenience. Recordings are available 48 hours after the webinar. Strafford will process CLE credit for one person on each recording. All formats include course handouts.

To find out which recorded format will provide the best CLE option, select your state:

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