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
THE RULING: CHAPTER 15 DEBTORS CAN ASSERT AVOIDANCE ACTIONS UNDER STATE LAW -
On March 23, 2017, the United States Bankruptcy Court for the Southern District of Florida, Miami Division, ruled that a foreign debtor could...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