Read Bankruptcy Law updates, alerts, news, and legal analysis from leading lawyers and law firms:
Bill on Bankruptcy: Lawyers Must Disclose What Clients Pay
Bill on Bankruptcy: Complaint Claims Judge Is a Bigot
Too Big To Fail in the Dodd-Frank Era
Bill on Bankruptcy: What's in the $83M ResCap Examiner's Report?
Dewey's Bankruptcy Lawyer: More Large Law Firms Will Fail
Bill on Bankruptcy: The Market's Unquenchable Thirst for Junk
Bill on Bankruptcy: Trustees Sleep Easy after High Court Ruling
Bill on Bankruptcy: Lehman Test Case on Judicial Nullification
Cohen: Cyprus Is Not A Template For Future Restructurings
Bill on Bankruptcy: Kodak Plan Bumps the Debt, Craters Stock
Deloitte: Turnarounds and Democracy Don't Mix
Bill on Bankruptcy: Lawyers Easily Make Simple Words Complicated
Bill on Bankruptcy: Easterbrook Turns the Tide on Student Loans
Bill on Bankruptcy: Stockton May Win the Battle, Lose the War
NFA Chairman Chris Hehmeyer Talks Bankruptcy Reform
Buchheit: Cyprus Could Need a Second Bailout
Bill on Bankruptcy: Sigmund Freud, Marx Brothers, Bernie Madoff
Bill on Bankruptcy: Why is Kodak's Stock Soaring?
Smolinsky Sees Similarities Between Reader's Digest, Kodak
Bill on Bankruptcy: How Purchasers of AMR Stock Made a Killing
Patriot Coal became the third major debtor in the last year to modify benefits or reject a CBA under sections 1113 and 1114 of the Bankruptcy Code. Following similar rulings in the Hostess and AMR Corporation bankruptcies,...more
On May 29, Patriot Coal (Patriot) became the third major debtor in the last year to receive court approval to modify union benefits or reject a CBA under sections 1113 and 1114 of the Bankruptcy Code....more
As many as 90% of pension plans and pension plan sponsors may soon have fewer “reportable events” to track and report to the Pension Benefit Guaranty Corporation (the “PBGC”), if certain proposed changes to the PBGC...more
I received a number of e-mails on my three-part series on settlements, which ran over the past few weeks. Of those e-mails, several dealt with a topic I raised in Part 3 - accounting for the possibility of a settling...more
This is largely a plaintiff-centric column, offering some practical points to consider when assessing the risk of bankruptcy in connection with non-compete (or other competition) litigation. Though many non-compete suits...more
The Pension Benefit Guaranty Corporation (PBGC) has proposed regulatory safe harbors waiving the obligation of financially sound defined benefit pension plans and the companies that maintain them from the duty to report...more
A recent decision out of the Bankruptcy Court for the Northern District of New York has brought greater certainty to the interpretation of what qualifies as an “interest” when determining the scope of a Section 363(f) “free...more
Introduction - In a recent decision, the Bankruptcy Court for the Northern District of New York broadly interpreted the meaning of “interest” in the context of determining the scope of a sale free and clear of “liens,...more
The bankruptcy of the largest U.S. city to file a chapter 9 bankruptcy petition has yielded a decision with serious implications for municipal creditors. Specifically, the United States Bankruptcy Court for the Eastern...more
The new year is off to a pretty big start. We've already seen significant decisions from federal appellate courts on criminal trade secrets prosecutions and the epic Mattel/MGA "Bratz" dolls dispute. We have a looming debate...more
In a judgment rendered in December 2012, the British Columbia Court of Appeal (“BC CA”) further clarified an insurer's priority for payment of unpaid health plan contributions. In Re: Ted Leroy Trucking Ltd. the bankrupt had...more
When Hostess Brands Inc. announced it was going out of business, Twinkie lovers panicked, clearing out grocery shelves and forking over nearly $60 for a single box on eBay. But Hostess’ 18,500 workers faced bigger problems: a...more
After a final mediation session between Hostess and its unions failed to put Hostess’s reorganization back on track, Bankruptcy Judge Robert Drain authorized the orderly wind down of Hostess’s operations. As a result, Hostess...more
In the dog-eat-dog world of Chapter 11 bankruptcy, we should not be surprised when disputes arise between parties arguing about money. Kodak is trying to terminate pension/retirement benefits for its workers in its Chapter...more
The Pension Benefit Guaranty Corporation (PBGC) has announced a new pilot program that should substantially modify its enforcement strategy regarding pension liability for facility closures under ERISA Section 4062(e). Under...more
Last month the drama surrounding Hostess’s efforts to reject various collective bargaining agreements drew to a close (pending appeal). Bankruptcy Judge Robert Drain (in an unpublished decision) authorized Hostess to reject...more
Two major conclusions are found in a recent survey of economists by the Wall Street Journal: 1. Slow growth over the coming year 2. A recession is unlikely As reported by the Los Angeles Times, the survey of 48...more
This article briefly discusses the prohibition of indebtedness of shareholders, partners, Board Members, Managers and their relatives in Joint Stock Companies and Limited Liability Partnerships, under the Turkish Commercial...more
A recent Eighth Circuit Court of Appeals decision considered the situation of a participant covered under a self-funded ERISA plan who sustained injuries in a slip and fall accident. The plan paid health benefits for that...more
Sept. 6 (Bloomberg Law) -- Bloomberg Law's Lee Pacchia talks with Bloomberg News bankruptcy columnist and editor-at-large Bill Rochelle about how a strategy backfired on the pilots' union at American Airlines. Bill also...more
On June 22, 2012, Judge Robert Drain of the United States Bankruptcy Court for the Southern District of New York granted the motion of the Bakery, Confectionary, Tobacco Workers and Grain Millers International Union to...more
In the midst of bankruptcy proceedings, American Airlines has asked a judge to allow it to stop paying retiree health insurance and life insurance benefits. - Airline hopes to save over $1.3 billion annually in benefits...more
Lumbermens Mutual Casualty Company and American Manufacturers Mutual Insurance Company (part of the Lumbermens Mutual Group and formerly known as Kemper) (“Lumbermens”), after years of struggling financially under the...more
The recent bankruptcy case of Hostess has centered on Hostess’s attempts to reject collective bargaining agreements with its unions. Hostess has emphasized that realigning labor costs is essential to its ability to...more
In a recent decision in the VeraSun bankruptcy cases, the U.S. Bankruptcy Court for the District of Delaware held that “change in control” agreements between former executives and the debtors are “employment contracts” under...more
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