Unlike most transactions, where all parties profit to varying degrees, bankruptcy differentiates itself in that all parties will suffer some loss from settlement. Thus, Messing described a bankruptcy as one part corporate consulting, and one part bar fight. One had to have a thorough understanding of financial statements, and of financial engineering techniques. But, one also had to realize that all parties were engaged in a game of bluffing and maneuvering, and that while no party wished to avoid settlement, all parties wished to gain leverage to achieve the best settlement.

Indeed, all panelists agreed that negotiation skills were paramount, given the high acrimony and emotion in a Bankruptcy proceeding; Antonszyk mentioned Fisher’s “Getting to Yes” as a principle text.  Applebaum iterated that interpersonal skills were also necessary in dealing with the firm that hired you. In many situations a bankruptcy attorney must convince key individuals of the harsh reality of the financial situation. As a bankruptcy attorney represents the estate, rather than the company or individual which hired him, he must also toe the line between the interests of his pay master and of the estate, especially when considering risk.

Finally, the panelists emphasized that Bankruptcy has changed a great deal over the last two decades. Whereas previously the borrowers in a bankruptcy proceeding were almost exclusively banks, the increased availability of non-bank sources of credit, coupled with regulation intended to expedite proceedings, has drastically modified current bankruptcy regimes.

Written by Andrew Kostrzewa

The BU Law Business Law Society ran its flagship event on February 15, the 2013 Business Law Conference. The Conference featured four panels with a total of fourteen attorneys who practice with a variety of organizations including large law, venture capital, mobile technology, pharmaceutical, and business advisory. The panels covered emerging issues and career opportunities in Mergers & Acquisitions, Financial Restructuring & Distressed Opportunities, In-House Counsel, and Capital Markets.

Panelists and audience members alike enjoyed the discussions. First year students had the opportunity to network and learn from attorneys in a variety of practice areas. Students also gleaned several tips from younger attorneys who offered tips for early career success.

The Society extends its thanks to all supporters of the 2013 Conference including co-sponsors WilmerHale and Bloomberg Law, each of the panelists, Professor Kent Coit, Professor Kevin Outterson, and Professor Frederick Tung. And thanks to everyone who joined us on a holiday Friday afternoon. Looking forward to next year, the Society plans to run another conference and make this an annual opportunity.

Please forward any questions or comments to DJ or Nathan.

Friday, February 15, 2013
3:30pm — 7:00pm
765 Commonwealth Ave, Boston, MA 02215

The Conference brings practitioners to the School of Law, introduces students to emerging issues and career opportunities, and hosts a networking reception. The four feature panels are Mergers & Acquisitions, In-House Counsel, Financial Restructuring & Distressed Opportunities, and Capital Markets & Securities. The Conference is co-sponsored by Bloomberg Law and WilmerHale.

Boston University School of Law has a storied reputation for banking, financial, and tax education. During the 2011-2012 academic year, the School of Law launched a new Transactional Law Program, which equips students with both doctrinal and practice skills necessary for executing business transactions. Kent Coit, a nearly thirty year veteran of Skadden, Arps’ mergers & acquisitions department, directs the Transactional Law Program.

Also in 2012, a group of JD students launched the Business Law Society to complement the mission of the Transactional Law Program. The Society has planned the 2013 Business Law Conference as a multi-panel event to bring practitioners to the School of Law, introduce students to emerging issues and career opportunities in several fields, and host a networking reception. On behalf of the Society, the Transactional Law Program, and the School of Law, thank you for joining us at the inaugural Business Law Conference.

For additional information, please contact Nathan Hertzog (hertzog@bu.edu), President of the Business Law Society.

You can RSVP at the following links:
https://www.facebook.com/events/378519845576548
https://proximate.com/events/2013-business-law-conference

Our 1L Representatives, whom 1Ls can and should approach, will be responsible for promoting the BLS, receiving input from classmates, and exercising leadership along with the Executive Board. The 1L Reps were confirmed in our first e-board meeting held on  This year our 1L Representatives are the following:

• Phil Chang
• Alyce Chen
• Adriana Henquen
• Julie Krosnicki
• Lisa Ann Landry
• Robert Murphy
• Yelena Nam
• Chloe Pletner
• Michael Vandenberg
• Sarah Won

Our main event of the year is scheduled for February 15, 2013. Mark your calendars for the inaugural Business Law Conference. The Conference will feature four panels of BU Law alumni. The panelists will discuss career opportunities and emerging issues in the fields of M&A, Financial Restructuring and Distressed Opportunities, Capital Markets & Securities, and In-House Counsel. The Conference will conclude with a networking reception.

Please feel free to reach out to DJ or Nathan with any questions.

In its third year, the Transactional Law Meet competition requires participants to draft, mark-up, and negotiate deals, essential skills for a transactional lawyer. At the regional and national level, the competition has participants (1) prepare a proposed executive employment agreement, (2) prepare mark-ups to draft agreements prepared by opposing teams, and (3) negotiate against other teams in person. Only the top two teams on each side of the problem are invited to the national competition.

Last November, Flippo and Foscaldi won the BU school-wide competition, negotiating the purchase of a company by a private equity fund. Advancing to the Northeast regional round, the pair were assigned to represent the employer in a negotiation of an executive employment agreement for a new chief executive officer. In preparation, Flippo and Foscaldi met with Professor Tina Stark, head of the Transactional Law Program at BU, as well as with other professors and practicing attorneys knowledgeable in employment issues. At the meet, the pair negotiated against three different teams, placing second on the employer side–thus, qualifying for nationals.

The success of each team will hinge on their success in achieving their client’s goals and the goals of the parties to the transaction. The competition’s panel of experts evaluates lawyering skills, drafting, marking-up and negotiating techniques along with knowledge of corporate and business law.

Daniel Jeng
Secretary, Business Law Society

Students at the Law School formed the Business Law Society to add an extracurricular depth to the opportunities already available to students interested in business law.  For any business lawyer, networking is as valuable a skill as being able to draft an asset purchase agreement or negotiate a term sheet. Students who attend Boston University School of Law have two extensive networks waiting on them when they arrive, but these networks must be tapped. First, students have a diverse University community brimming with students who will push the frontiers of innovation in technology, take management positions in leading companies, and engage in value-creating entrepreneurship.

Beyond an ample offering of excellent substantive programs, Boston University effectively connects its schools and colleges through platforms such as the Institute for Technology, Entrepreneurship and Commercialization (ITEC), an entrepreneurial hub that provides counseling and collaborative opportunities for students to launch their ideas into businesses. The Business Law Society actively plans and hosts networking events with the goal of connecting law students to the University community. Second, students have one of the top entrepreneurial and business communities in the country. Boston is a perennial leader in business development and venture financing, and a host of BU alumni lead many of the firms that drive this activity. Whether students are interested in connecting with law firms, investment firms, or operating companies, the Business Law Society will assist in making connections with these professionals.

The Law School is committed to equipping graduates with deal-based legal and business skills, and the Business Law Society is committed to connecting students with people in the University and professional communities who share interests in business development, entrepreneurship, and industry leadership. Participation in the Transactional Law Program and the Business Law Society will equip students with a skill set and substantive network with which to launch a successful career.

Nathan Hertzog
President, Business Law Society

On our website, you can find more information about Business Law related courses and programs at BU Law, latest news on Business Law, and also blog articles about Business Law.