In Chapter 11 cases, one of a vendor’s best shots at getting paid its pre-petition debt is being designated as a “critical vendor”....more
David Conaway reports on a recent Chapter 11 plan of reorganization submitted by Purdue Pharma (Oxycontin) to resolve a mass tort claim.
The Supreme Court of the United States (SCOTUS) is having difficulty swallowing the...more
10/13/2023
/ Bankruptcy Court ,
Chapter 11 ,
Commercial Bankruptcy ,
Creditors ,
Debtors ,
OxyContin ,
Pharmaceutical Industry ,
Purdue Pharma ,
Reorganizations ,
Third-Party Release Agrements ,
Willful Misconduct
Material Chapter 11 cases have morphed to the point that the outcome is often predetermined at the “first day” hearing. Unsecured creditors with material credit exposure should engage early to protect their interests and...more
On 5 July 2022, SAS AB and 13 affiliates filed for Chapter 11 protection in the Southern District of New York. Owned 44% by the Kingdoms of Denmark and Sweden, SAS encountered financial turbulence resulting from increased...more
10/14/2022
/ Airlines ,
Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Commercial Bankruptcy ,
Creditors ,
Debt Restructuring ,
Debtors ,
Insolvency ,
Lenders ,
Reorganizations
WE WON. WE MADE NEW LAW -
In the Chapter 11 case of Beaulieu Group, LLC (carpet industry in Dalton, Georgia) in the U.S. Bankruptcy Court for the Northern District of Georgia, we defended Auriga Polymers Inc. (a...more
David Conaway, Partner and Finance, Banking, Creditors’ Rights and Insolvency Regional Service Line Leader, reports on the world-wide reach of the US Chapter 11 'Automatic Stay."
Originally published in Eurofenix, Winter...more
In this first part of his article, David sets the parameters for understanding U.S. bankruptcy concepts…
According to the American Bankruptcy Institute, total commercial Chapter 11 filings in July 2021 decreased 62...more
Since its beginning in 1978, Chapter 11 has been the primary tool for financially distressed U.S. and foreign companies to efficiently restructure their balance sheets and business operations.
Successful Chapter 11 cases...more
According to the American Bankruptcy Institute, total commercial Chapter 11 filings in July 2021 decreased 62 percent from the previous year. Commercial Chapter 11 filings totaled 244 in July 2021, down from the July 2020...more
In Bankruptcy Code Section 363 sales of assets, there are winners and losers.
Chapter 11 is known as a forum for reorganizing or selling a ?nancially distressed business. If a Chapter 11 reorganization is not possible, a...more
There are a number of "creditor remedies" that can be utilized to maximize recovery from an insolvent customer. This article addresses one such "remedy": a carve-out from the pre-petition secured lender.
...more
The 10th U.S. Circuit Court of Appeals issued an important preference decision on August 10, 2015.
What You Need to Know -
Payments to creditors arising from a recent, single business transaction can be protected by...more
Many lawyers have written articles about a February 27, 2015 U.S. Court of Appeals (11th Circuit) ruling (In re Maury Rosenberg) against petitioning creditors of an involuntary Chapter 7 proceeding.
INTRODUCTION...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