Bankruptcy seminar in Guam and CNMI

The District Courts of Guam and the Northern Mariana Islands, in partnership with the Guam and CNMI Bar Associations, are hosting a virtual and in-person Bankruptcy Seminar Series.

This seminar series will expose federal and local bar members, debtors, creditors, banking institutions, lenders, real estate agents, brokerage firms and other interested businesses to current bankruptcy issues. Attendees will receive updated case law and information to assist them in deciding whether a bankruptcy case should be filed, and the issues that may arise.

“Given the current state of global economic affairs, I hope that attorneys will avail of this training and embrace professional opportunities to assist debtor and/or creditor clients navigate through the financial upheaval caused by this pandemic,” said Chief Judge Ramona V. Mangloña of the District Court for the Northern Mariana Islands.

The first virtual seminar in the series, called “Building a Bankruptcy Practice,” was held last Sept. 24, 2020, and was open to members of the Guam and CNMI Bar Associations. Bar members who registered with the CNMI Bar Association and attended this two-hour series received 1.5 general Continuing Legal Education Credits and 0.5 ethics credits for a total of 2 CLE credits.

The second virtual seminar will take place on Oct. 30,2020, from 8am to 10am (GMT+10), and is called “Economic Impacts of COVID-19.” It will focus on “Cutting Edge Bankruptcy Issues” and is designed to provide information and guidance to the CNMI’s federal and local bar members, banking institutions, lenders, creditors, real estate agents, brokerage firms and other interested businesses.

“Businesses are struggling to survive, and bankruptcy may be the right solution for some, but it is not the only option for a struggling business. This seminar will provide valuable insight of ways for business to deal with the COVID-19 pandemic crisis,” said a press statement yesterday from the CNMI Bar Association.

Key topics will include valuation of assets, moratoriums on loans and mortgages, forgiveness of PPP loans, and more.

This virtual seminar will present the following panelists: Judge Daniel P. Collins, a bankruptcy judge for the U.S. Bankruptcy Court for the District of Arizona; Siska S. Hutapea, president and chief appraiser of Cornerstone Valuation Guam, Inc.; Clarke Schaumann, CEO and member of the board of directors for ANZ Guam, Inc.; and Andrew Helman, a partner and co-chair of Bankruptcy Practice at Murray Plumb and Murray law firm in Portland, Maine.

Who may register
Virtual Bankruptcy Seminar 2 is open to Guam and CNMI bar members, banking institutions, lenders, debtors, creditors, real estate agents, brokerage firms, and businesses. You must register with the CNMI Bar Association to attend this second seminar. Registration fee is $25 for Part 2. Continuing Legal Education Credits: Two general credits

For more information and details regarding the virtual and in-person Bankruptcy Series seminars, contact the CNMI Bar Association via email at cnmibar@gmail.com or the District Court for the NMIs Lawyer Representative, Vince J. Seman at (670) 483-7911, or email at vjseman@semanlaw.com. (PR)