Bankruptcy Art, Entertainment & Sports

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Caesars Back in Bankruptcy Court

Caesars Entertainment Operating Co. Inc. (“Caesars”) appeared in bankruptcy court for the third time this year to request that creditors be stayed from seeking an $11 billion dollar judgment against the casino operator’s...more

Producers Beware: What happens when your movie distributor files bankruptcy?

The Issue - There has been written a plethora of articles about Bankruptcy Code §365(n) regarding the rights of parties to license agreements when the licensor files a bankruptcy and rejects a license agreement....more

Three Point Shot - June 2016

Showtime and Top Rank Slug It out over "Fight of the Century" - Who said boxing was dead? Fight fans still bitter over the May 2015 Floyd Mayweather–Manny Pacquiao bout that was far more mega-bore than mega-brawl...more

Golf Channel Finds the Fairway in Fraudulent Transfer Litigation – Good News for Vendors in Ponzi Scheme Cases

In some good news for commercial vendors, the Supreme Court of Texas recently ruled that payments for ordinary services provided to an insolvent customer are not recoverable as fraudulent transfers, even if the customer turns...more

50 Cent Breaks the Golden Rule of Social Media Posting

“Be careful what you post.” This may be the most obvious of social media commandments. Yet, it’s also true that it’s difficult to control the degree of public access to photos and messages posted on a social media platform,...more

NHL Scores Big on Attorneys' Fees Against Nondebtors

Last fall, the National Hockey League (NHL) enjoyed a big off-ice victory when the U.S. District Court for the District of Arizona found that it was entitled to recover from Jerry and Vickie Moyes and the Jerry and Vickie...more

Bankruptcy Trumps Collective Bargaining Agreement

A federal court recently ruled that the Bankruptcy Code (the “Code”) permits an employer to escape their expired collective bargaining agreement obligations under certain circumstances. In the matter of In re Trump...more

Bankruptcy Law "Trumps" The National Labor Relations Act in Casino Reorganization Case

In a case of first impression, the United States Court of Appeals for the Third Circuit recently ruled that federal bankruptcy courts may extinguish a Chapter 11 employer’s obligations under an expired collective bargaining...more

Who Says There Are No More Big Los Angeles Chapter 11 Cases?

On July 30, 2015, Relativity Media, along with 144 of its affiliates, filed a Chapter 11 bankruptcy. The multi-million dollar entertainment company, which produced films such as The Social Network, The Fighter, Limitless,...more

50 Cent Files for Bankruptcy, Trades In Da Club for In Da Courthouse

The rapper Curtis James “50 Cent” Jackson III filed a voluntary chapter 11 bankruptcy petition in Connecticut bankruptcy court on Monday, July 13, 2015. Jackson rose to prominence with songs like In Da Club and P.I.M.P. from...more

$5.9 Million in Payments to Golf Channel Declared Out of Bounds

The Fifth Circuit Court of Appeals recently issued a decision that should make defendants in Ponzi cases shiver in their boots. The court said that the defendant, the Golf Channel, had to return nearly $6 million and that it...more

Bankruptcy Beat: Former NFL Player Defeats Fraud Allegations Which Results In Discharge Of Debt

On March 31, 2015, the Honorable Albert S. Dabrowski issued a decision in Hamrah v. Coulette (In re Coulette), Adv. Pro. No. 13-2039, concerning the issue of whether an obligation created by a failed business investment gives...more

Phoenix Project: Atlantic City Can Rise From The Ashes

Most of the news from the Atlantic City Boardwalk over the last couple of years has not been promising. Several of the massive casino resort properties there have closed and/or slipped into bankruptcy, and the resale or...more

In re Charles W. Dowdy - U.S. Bankruptcy Court, S.D. Mississippi, January 28, 2015

Mississippi bankruptcy court holds that agreement encompassing both settlement agreement resolving claims for past-due performance royalties and contemporaneously executed ASCAP licensing agreements is not a single agreement,...more

Blog: Boardwalk Empire in Decline – A Recap on the Shuttering of Atlantic City Casinos and What’s Next for the Struggling City

Atlantic City has been struggling in recent years, and it remains unclear how the city’s problems will improve in the face of a deteriorating tax base. According to the Update Report of Governor’s Advisory Commission on New...more

Insolvency in the Fashion Retail Sector: Understanding and managing the risks of an insolvent acquisition

Opportunity Arises Out of Adversity - The recent global financial crisis has seen consumers tighten their belts and the retail industry as a whole has faced increasing pressure. Profits warnings have peppered the...more

Philadelphia Entertainment and Development Partners LP Wins Chapter 11 Plan Approval

U.S. Bankruptcy Judge Madeline Coleman approved a modified Chapter 11 Bankruptcy Plan for Philadelphia Entertainment and Development Partners, L.P (“Philadelphia Entertainment”) on Monday, July 28, 2014. ...more

Insolvency In The Fashion Retail Sector: The Risks And The Opportunities

In this article on the changing landscape of UK fashion retail, we consider the challenges and changes faced by the industry and comment on the opportunities available for existing players and potential new entrants to the...more

Deportation Coming Up in Season 6 of “The Real Housewives of New Jersey”: Real Immigration Problems for Celebs Teresa and Giuseppe...

On March 4, 2013, two of the stars of the Bravo Network television show, “The Real Housewives of New Jersey,” pleaded guilty to several counts of fraud and other charges in a federal court in Newark, New Jersey. Teresa and...more

Court Rules Houston Astros Cannot Strike Out Fiduciary Duties in Bankruptcy

Introduction - One of the incentives that Delaware law offers founders of business entities is the ability to tinker with the fiduciary duties that the managers of the business owe. While the duties owed by corporate...more

Atari Files Reorganization Plan to Exit Bankruptcy

Atari Files Reorganization Plan to Exit Bankruptcy by Joel R. Glucksman on October 4, 2013 Video-game maker Atari, Inc. has filed a reorganization plan in the U.S. Bankruptcy Court in Manhattan with the support of its...more

The financial crisis and a new round of deaccessioning debates

When public institutions are suffering from financial deficits, one question is usually raised: can they sell art to survive? In the museum world it is generally understood that you are to deaccession art only if the work is...more

National Ambulatory Services Firm Seeks Chapter 11 Bankruptcy Protection

National Ambulatory Services Firm Seeks Chapter 11 Bankruptcy Protection by Joel R. Glucksman on August 16, 2013 Rural/Metro, an ambulance and fire protection services company, announced it has filed for Chapter 11...more

Should Detroit Follow Central Falls’ Bankruptcy Strategy?

Should Detroit Follow Central Falls’ Bankruptcy Strategy? by Joel R. Glucksman on August 6, 2013 In the wake of Detroit filing the largest municipal bankruptcy in U.S. history, many analysts are looking at the...more

THQ Goes Down

As 2012 winds down and we all recover from what I’m sure was a wonderful Festivus celebration (I know I’m still feeling the effects of a particularly bloody Feats of Strength and an overly ambitious Airing of Grievances...more

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