NAFER 2024 Annual Conference

It can be both exciting and scary to walk in the front door that first day.  Even though the authorities have warned the entire Receiver's team that the operator could be armed and dangerous, the odds seem small that anyone would pull a gun on a group of professionals in business suits coming to take possession, right? Experienced and inexperienced receivers learn something new every time they do a takedown as a receiver. This panel of experienced receivers will provide invaluable insights that have helped them that first day in a receivership case, whether or not there are physical premises to take down. From taking over multiple locations simultaneously to digging through the trash for clues, the panel will share their responses to the expected and unexpected. While you cannot anticipate everything that will happen that first day, you can walk in as prepared as possible with tools to help you think on your feet and pivot as necessary.

Effective billing practices are essential for maintaining professionalism and ensuring smooth interactions with regulators and courts. This session will provide tips for creating good habits and avoiding common billing issues. In working with regulators, understanding specific guidelines, such as those from the SEC, and maintaining open communication is key to avoiding surprises. From the court’s perspective, detailed and ethical billing practices, such as avoiding double billing and properly staffing tasks, are critical. Attendees will also hear about a specific case study and tips learned in that scenario. Including how proactive communication can lead to better outcomes.

Join us for our annual Judges’ Panel featuring seven judges from a variety of courts around the country. The judges will touch on several key topics including understanding why the limits of equity are crucial in receiverships; what factors go into the selection of a receiver; advice for communicating effectively with the court; and in appellate matters, how cases are perceived and identifying what is important.

Timing. Notice. Process.

A receiver's goal to maximize recoveries can encounter unexpected hurdles when the assets are "unusual". This panel will focus on strategies which have been used to monetize such assets.

The more things change,….  Ah, but change they do!
This panel aspires to update the participant regarding current regulatory trends, judicial decisions, and their implications for receivers. A trifecta of Senior Counsel from the CFTC, FTC and SEC join NAFER to discuss:

1. their agencies' enforcement initiatives;
2. the agencies' near-term enforcement focus;
3. the impact of certain recent court cases, including:
   1. Jarkesy's anticipated impact on the use of administrative proceedings in enforcement matters;
   2. Loper Bright's overruling Chevron, precluding judicial deference to agency interpretation of ambiguous statutes;
   3. Purdue Pharma's limitation of 3rd party releases;
   4. DebtBox's overruling of SEC v Unifund (a/k/a the Relaxed Test) for obtaining a TRO;
   5. SEC v. Barton’s impact on justifying a Receiver's appointment;
   6. Fischer's effect on criminal liability under 18 U. S. C. §1512(c)(2)
4. An update on how the FTC handles receiverships after AMG v. FTC; and
5. Some perceived best practices and their own pet peeves.

This session will discuss the use of receivers in enforcement actions brought by state regulators. The panel will highlight the various state laws they regulate, where the receivership remedy is used, as well as other agencies in their state that also use receiverships. They will discuss coordination with the CFTC, SEC and FTC, other state regulators, as well as criminal authorities. They will explain when and why they may use lesser remedies; what they look for in deciding who to nominate as receiver; and any special state laws that vest receivers with special powers and rights, regulate reporting requirements and how receivers get paid, among other issues particular to state enforcement receiverships.

This panel will discuss the types of cases and special issues involved when the U.S. Department of Justice utilizes federal equity receivers. The DOJ attorneys will speak to their work and the work of receivers identifying assets, handling forfeitures, fulfilling restitution orders, and responding to petitions by victims classes of victims.

Join us for a Fireside Chat featuring SEC Acting Deputy Director of Enforcement Division Sam Waldon and CFTC Enforcement Division Director Ian McGinley moderated by NAFER President Jonathan E. Perlman of Venable LLP. Directors Grewal and McGinley will discuss current issues and trends they foresee in the regulatory and enforcement actions they bring as directors of the SEC and CFTC to protect securities and derivatives market users and investors from fraud, manipulation and abusive practices. Don't miss this unprecedented opportunity to hear from both directors together and obtain their unique perspectives on protecting the public!

For receivers and their retained professionals confronting the challenges of managing estates, unraveling investigations, and grappling with data deluges, this panel will explore the transformative potential of emerging technologies in forensic investigation, data analysis, crypto asset recovery, blockchain analysis, litigation discovery, and administrative efficiencies.  Discover AI's pivotal role in receiverships, from bolstering decision-making to optimizing work product efficiency. Unveil strategies for integrating AI responsibly, staying informed about technological advancements, and navigating ethical quandaries, including cost efficiencies, confidentiality/security issues, and the importance of transparency and bias mitigation in AI applications.  Don't miss this opportunity to gain insights, share experiences, and shape the future of receiverships in an increasingly technologically driven landscape.

This panel/game show will test the knowledge of some of the most experienced receivers and attorneys against each other in the class Family Feud format. Contestants will be asked about difficult and timely issues facing federal receiverships, including issues of standing, the Fifth Amendment, deepening insolvency, privilege, and other relevant priorities within a federal equity receivership matter.

In 2023, Douglas Kelley won a groundbreaking billion-dollar verdict against BMO Harris Bank for its role in aiding and abetting the Petters Ponzi scheme.  The lead trial counsel from Robins Kaplan, Michael Collyard, will walk the audience through the highlights of his opening statement and how he was able to convince the jury to find BMO Harris Bank liable and win a billion-dollar verdict for claimants.  The panelists will also discuss how the crucial issue of in pari delicto played out in this case, as well as the subsequent appellate review and NAFER’s role in that process.