On June 27, 2024, the United States Supreme Court issued its long-awaited opinion in Harrington v. Purdue Pharma L.P., holding that the Bankruptcy Code does not permit nonconsensual releases of nondebtors.
As a...more
In 2022, Congress passed the Bankruptcy Threshold Adjustment and Technical Corrections Act (the “Act”), raising the debt limits for bankruptcy cases under the Small Business Reorganization Act (“SBRA,” a.k.a. “Subchapter V”)...more
On April 26, 2023, Miller Canfield alerted readers to the Supreme Court opinion in MOAC Mall Holdings, LLC v. Transform Holdco, LLC. The MOAC decision may affect property sales in bankruptcy cases because it could weaken the...more
3/1/2024
/ 363 Sales ,
Bankruptcy Code ,
Bankruptcy Court ,
Commercial Bankruptcy ,
Jurisdiction ,
Leases ,
MOAC Mall Holdings LLC v Transform Holdco LLC ,
Real Estate Transactions ,
Real Estate Transfers ,
Sale of Assets ,
SCOTUS ,
Section 363 ,
Stays
On April 19, 2023, the Supreme Court issued its opinion in MOAC Mall Holdings, LLC v. Transform Holdco, LLC. The decision has implications for sales of property in bankruptcy cases.
Section 363(m) of the Bankruptcy Code...more
4/27/2023
/ 363 Sales ,
Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Commercial Bankruptcy ,
Corporate Counsel ,
Debtors ,
Jurisdiction ,
Leases ,
MOAC Mall Holdings LLC v Transform Holdco LLC ,
Mootness ,
Sale of Assets ,
SCOTUS ,
Section 363
Congress has made some small but important changes to the Bankruptcy Code through its enactment of the Bankruptcy Threshold Adjustment and Technical Corrections Act (the "Act") on June 21, 2022. The most important of these...more
A recent opinion from the Michigan Court of Appeals explained that when a debtor defaults under a confirmed chapter 11 bankruptcy plan, a creditor can enforce its rights in state court, and perhaps also in the bankruptcy...more
In the SBA Procedural Notice dated October 2, 2020 (the “Approval Notice”), the Small Business Administration (“SBA”) has issued mandates that may impact the ability of a recipient of a Paycheck Protection Program (“PPP”)...more
10/16/2020
/ Acquisitions ,
CARES Act ,
Change in Control ,
Change in Ownership ,
Coronavirus/COVID-19 ,
Federal Loans ,
Mergers ,
Notice Requirements ,
Paycheck Protection Program (PPP) ,
Sale of Assets ,
SBA ,
SBA Lending Programs
The influential Delaware bankruptcy court issued a recent decision that all secured lenders need to be aware of. In this decision, the bankruptcy court held that the fees of the official creditors’ committee were not limited...more