In the News

Sheryl Toby to Lead Panel Discussion at American Bankruptcy Institute 32nd Annual Spring Meeting

Dykema Bankruptcy Specialist Will Serve as Moderator for Discussion of Municipal Bankruptcy Issues

April 7, 2014

Sheryl L. Toby, a Bloomfield Hills-based member of Dykema and co-leader of the Firm’s Bankruptcy and Corporate Restructuring practice, has been chosen to lead a panel discussion on Municipal Bankruptcy at the American Bankruptcy Institute (ABI) 32nd Annual Spring Meeting.

This panel discussion, scheduled for Friday, April 25, will immediately follow a keynote address—“The Restructuring Challenge of a Lifetime”—delivered by Kevyn Orr, Emergency Manager for the City of Detroit. Toby will lead the panel of experienced bankruptcy and workout specialists—many of whom have applied their talents to the Detroit restructuring effort—addressing the key issues that emerge when municipalities declare bankruptcy.

Among the themes to be discussed:

  • Eligibility and confirmation issues
  • Challenges facing financial advisors to Chapter 9 debtors
  • Updates on the extent of Bankruptcy Court power under sections 903 and 904
  • Special revenues and appellate procedural hurdles
  • The future of Chapter 9 as it relates to municipal bankruptcies

Although sizable bankruptcies have been rare in the $3.7 trillion municipal bond market, many believe there could be a significant uptick as counties, cities and towns continue to wrestle with stagnant revenues and stubbornly rising costs.

Toby is a prominent bankruptcy attorney with more than 25 years of experience in the bankruptcy, workout and restructuring arena. Known for her creative approach in providing solutions for creditors, debtors and lenders in troubled situations, Toby represents a wide range of clients in such industries as automotive, manufacturing, retail, real estate and financial services.

A long-time member of the ABI, Toby is completing a five-year term on the organization’s Board of Directors (having served most recently on the ABI Education Committee). Previously, Toby co-chaired the ABI’s Commercial Fraud Task Force Committee.

About the ABI’s 32nd Annual Spring Meeting

This three-and-a-half-day conference, which will run in Washington, D.C. from April 24-27, 2014, is one of the industry’s premier events, attracting more than 700 attendees—including attorneys, accountants, auctioneers, judges, lenders, academics, turnaround specialists and credit professionals—who are involved in all aspects of insolvency matters.