Mark IV Ruling: District Court Affirms Bankruptcy Court’s Denial of Discharge of Environmental Obligations by Morrison & Foerster LLP on 10/25/2011 Last month, District Court Judge Shira A. Scheindlin of the Southern District of New York affirmed a bankruptcy court ruling which held that the environmental cleanup obligations of debtor Mark IV Industries, Inc. were not...more
Solyndra Bankruptcy and Obama Administration by Tampa Bay Bankruptcy Center, P.A. on 9/22/2011 The collapse of Solyndra Corp, a California based solar maker has subjected the Obama Administration to more than just nation-wide criticism and embarrassment. It has cost US taxpayers $535 million in a loan guaranteed by the...more
Solar Equipment Maker Solyndra files for Bankruptcy by Tampa Bay Bankruptcy Center, P.A. on 9/6/2011 Solyndra, the company the White House highlighted in its efforts to push for cleaner energy technology, has filed for Chapter 11 bankruptcy protection. It has laid off more than 1,000 full-time and part-time workers and...more
Contemplating Chapter 11 as a “Fresh Start”? Consider Recent Developments in Environmental Claims Liability by Morrison & Foerster LLP on 4/27/2011 When a company saddled with potential environmental liabilities seeks bankruptcy protection, the goals of Chapter 11—giving the reorganized debtor a “fresh start” and fairly treating similarly situated creditors—can conflict...more
If You Want To Keep It, You Have To Pay For It. by John Skiba on 1/25/2011 As the economy gets worse, it is making more difficult for people, even people in bankruptcy, to make their house payment or car payment. However, if you want to keep your home or keep your car, you must continue to make...more
Supreme Court To Decide Whether To Review Seventh Circuit Decision Holding That Bankruptcy Does Not Discharge Environmental... by Sheppard Mullin Richter & Hampton LLP on 9/20/2010 In a decision that may create a significant roadblock for companies saddled with environmental clean-up liability to continue as a going concern, the Seventh Circuit in U.S. v. Apex Oil Company, Inc., 579 F.3d 734 (7th Cir....more
Bankruptcy Unlikely to Save BP by Tampa Bay Bankruptcy Center, P.A. on 9/2/2010 By now, almost everyone realizes that the oil spill by the BP Deepwater Horizon oil rig in the Gulf of Mexico is the worst in history. Already, the British oil company has spent $1.43 billion to stop the flow of oil and clean...more
In re EPV Solar, Inc. Declaration in Support of Chapter 11 Bankruptcy Filing by Randall Reese on 2/24/2010 EPV Solar, Inc., a Robbinsville, New Jersey-based designer, developer, manufacturer and marketer of low-cost amorphous silicon ("a-Si") thin-film photovoltaic solar modules, voluntarily filed for chapter 11 bankruptcy...more
Boston and Maine Corporation v. Massachusetts Bay Transportation Authority Environmental Cleanup decision in B&M v. MBTA by Doug Cornelius on 11/24/2009 B&M owned and operated the MBTA Commuter Rail Maintenance Facility, selling it to the MBTA in 1976. B&M continued to operate the facility under bankruptcy protection until 1983 when B&M was discharged from bankruptcy. The...more
In re Flying J Inc. Motion to Approve Sale of Emission Reduction Credits by Randall Reese on 10/2/2009 On Friday, Flying J Inc. filed a motion seeking court approval to sell emission reduction credits for nitrogen oxide and sulfur dioxide to Hydrogen Energy California LLC pursuant to a Purchase and Sale Agreement dated...more
International Legal News Volume 6 Issue 1 - March 27, 2009 by International Lawyers Network on 3/27/2009 In this Issue: *Regulation of Greenhouse Gases: The Management of Uncertainty Beirne, Maynard & Parsons LLP , Houston by James E. Smith & Benjamin A. Escobar *Watching from the Wings with Baited Breath – The WAL-MART...more