Bankruptcy attorney Ira Reid has been appointed Chair of the Derivatives Subcommittee of the Committee on Bankruptcy and Corporate Reorganizations at the New York City Bar Association.

In the coming year, this subcommittee will focus on the possible impact of potential and proposed amendments to the US Bankruptcy Code with respect to its treatment of credit derivatives transactions in US bankruptcy cases.

Mr. Reid, a Partner in the Restructuring and Insolvency Practice at Baker & McKenzie, advises clients on a broad range of creditor's rights and bankruptcy issues and counsels struggling companies on restructuring and bankruptcy strategies. Additionally, Mr. Reid prosecutes, defends and mediates commercial disputes related to insolvency and financial restructuring.

Among other items on his agenda, Mr. Reid plans to co-chair a joint CLE program with the Association's Futures and Derivatives Committee in Spring 2017, concerning the future of US bankruptcy safe harbors for credit derivatives and the US Bankruptcy Commission's recommendations for scaling back those safe harbors.

I am very pleased to accept this appointment, and I look forward to facilitating and developing conversations on important US restructuring issues that affect credit derivative transactions worldwide,

Mr. Reid said.

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