On June 15, 2015, the US Supreme Court ruled that a law firm could not recover fees it incurred in defending its own fee application.
THE ASARCO CASE -
The case involved the copper company ASARCO LLC that filed...more
Reuters, Bloomberg and Debtwire are all reporting negative financial information about your customer:
"Bond ratings are down-graded, bond prices are falling, a likely “restructuring” to address the bond debt,...more
The following is an executive summary of the “need to know” bankruptcy concepts as they impact creditors in business insolvencies.
CHAPTER 11 vs. CHAPTER 7 -
- Chapter 11 is technically used for bankruptcy...more
Chapter 11 is known as a forum for reorganizing or selling a financially distressed business. Chapter 11 allows companies to reject burdensome contractual obligations, shed non-core assets and “clean up” the balance sheet by...more
We recently delivered a $382,901 check to a client in payment of a Bankruptcy Section 503(b)(9) claim, known as a “20-day administrative” claim. The claim arose from the client’s pre-petition sale of goods to its customer....more
You are in your office finishing your morning espresso when you receive an email from the CFO of your companies' U.S. subsidiary. Attached to the email is a letter from a U.S. law firm. Instinctively, you know this can't be...more
Originally published in eurofenix - Winter 2012/2013.
David Conaway looks at alternative sources of working capital in US and Canadian insolvencies.
It has been reported that Wal-Mart, the world’s largest retailer...more