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Third Circuit Court of Appeals Concludes that Section 303(i) Does Not Preempt State Law Claims of Non-Debtors Predicated on the...

In Rosenberg, et al. v. DVI Receivables XVII, LLC, 2016 WL 4501675, at *1 (3d Cir. Aug. 29, 2016), the Third Circuit Court of Appeals held that damages awarded pursuant to Section 303(i) of the Bankruptcy Code for an...more

New Delaware Chapter 11 Filing – Verengo, Inc.

Verengo, Inc., a well-known installer of residential solar power systems, filed for Ch. 11 in the United States Bankruptcy Court for the District of Delaware (Case No. 16-12098). Verengo attributes its filing to quality...more

Delaware Organizational Meeting – Delivery Agent, Inc.

Upcoming Committee Formation Meeting: Thursday, September 29, 2016, 10:00 a.m. Case Name: Delivery Agent, Inc. Case Number: 16-12051 (LSS)...more

Delaware Organizational Meeting – NJOY, Inc.

Upcoming Committee Formation Meeting: Tuesday, September 27, 2016, 2:00PM - Case Name: NJOY, Inc. Case Number: 16-12076 (CSS)...more

Delaware Organizational Meeting – Golfsmith International Holdings, Inc. et al.

Upcoming Committee Formation Meeting: Friday, September 23, 2016, 10:30AM - Case Name: Golfsmith International Holdings, Inc. et al. Case Number: 16-12033 (CSS)...more

New Delaware Chapter 11 Filing – NJOY, Inc. (16-12076)

NJOY, Inc., an e-cigarette and vaping company headquartered in Scottsdale, Arizona, has filed for chapter 11 bankruptcy protection in the United States Bankruptcy Court for the District of Delaware (Case No. 16-12076)....more

Managing Risks in Acquisitions from Financially Challenged Sellers in the Resources & Energy Sector

Impact of Low Commodity Prices - After a decade long boom in the resources and energy sector, prices across almost all commodities declined from 2012, with particularly sharp declines during 2015 and into 2016, as supply...more

North Carolina Court Clarifies Deadlines to Set Aside Fraudulent Conveyances

Recently, the North Carolina Court of Appeals, in the case of KB Aircraft Acquisition, LLC v. Berry, et al., clarified the time limit for bringing claims under the North Carolina Uniform Voidable Transactions Act (“UVTA”). ...more

Singapore: Asia Pacific’s Debt Restructuring Hub?

Earlier this year the Committee to Strengthen Singapore as an International Centre for Debt Restructuring (the “Committee”) published, and the Singapore Ministry of Law accepted, recommendations aimed at enhancing Singapore’s...more

Noble Environmental Power, LLC Files Chapter 11

Noble Environmental Power, LLC filed a chapter 11 petition in the United States Bankruptcy Court for the District of Delaware on September 15, 2016. The case has been assigned to The Honorable Brendan Linehan Shannon, and...more

New Delaware Chapter 11 Filing – Noble Environmental Power, LLC

Noble Environmental Power, LLC, and several of its affiliates filed for Chapter 11 protection in the Bankruptcy Court for the District of Delaware (Lead Case No. 16-12055). Noble, a renewable energy company that owns and...more

Golfsmith Hits Into Trouble: Enters Chapter 11

On September 14, 2016, Golfsmith International Holdings, Inc. and twelve affiliates filed a Chapter 11 petition in the United States Bankruptcy Court for the District of Delaware. The case, docketed as 16-12033, has been...more

New Delaware Chapter 11 Filing – Delivery Agent, Inc. et al.

Delivery Agent, Inc., a provider of one of the leading and most advanced entertainment platforms to monetize entertainment content based in San Francisco, CA, and three of its affiliates have filed for chapter 11 bankruptcy...more

Delivery Agent, Inc. Files Chapter 11; Will Seek to Sell

On September 15, 2016, Delivery Agent, Inc. and three affiliates, Musictoday, LLC, Clean Fun Promotional Marketing, Inc., and Shop the Shows, LLC, filed chapter 11 petitions in the United States Bankruptcy Court for the...more

New Delaware Chapter 11 Filing – Golfsmith International Holdings, Inc. et al.

Golfsmith International Holdings, Inc., a golf clothing and equipment retailer based in Austin, Texas, and twelve of its affiliates have filed for chapter 11 bankruptcy protection before the United States Bankruptcy Court for...more

The Charging Order – How The Nevada Secretary Of State Doesn’t Get It Quite Right

In 2007, Nevada imposed an interesting limitation, the charging order, on the ability of creditors to foreclose on shares of closely-held Nevada corporations. Here’s how the Nevada Secretary of State’s website describes the...more

New Delaware Chapter 11 Filing – ScripsAmerica, Inc.

ScripsAmerica, Inc. (OTCBB: SCRC) has filed a chapter 11 petition before the United States Bankruptcy Court for the District of Delaware (Case No. 16-11991). The case has been assigned to the Honorable Laurie Selber...more

Grant of security – Not so secure anymore?

The recent High Court decision in Encus International Pte Ltd (in compulsory liquidation) v Tenacious Investment Pte Ltd & Ors [2016] SGHC 50 (Encus International) bears significance to lenders for two pivotal reasons. First,...more

Secured Creditors Can Chill a Bit Following Aeropostale Ruling

The ability of a secured creditor to credit bid its debt in connection with a sale of a debtor’s assets received a strong boost in a decision last month in the Chapter 11 case of Aeropostale from U.S. Bankruptcy Judge Sean...more

Company's Position Taken in Bankruptcy Voids Noncompete Obligations

The Delaware Court of Chancery's decision in Hipcricket v. mGage, C.A. No. 11135-CB, (Del. Ch. July 15, 2016), highlights the importance of coordinating the positions taken in different legal proceedings. The plaintiff in...more

Throwback Thursday From Shumaker Manufacturing: Insolvency Laws In Canada, Mexico And The U.S.

I had an occasion recently to compare the preference laws of the US and Canada in a cross-border matter, and wanted to share the attached compendium comparing the insolvency laws of the U.S., Canada and Mexico, Insolvency...more

New proposals to develop the rescue finance market: new beginnings, or an old chestnut?

On 25 May 2016, the Insolvency Service published a consultation paper aimed at reforming various aspects of the UK's corporate insolvency regime. It has now collected responses from various interested parties including...more

Credit Bidding Not Quite So Risky After All

Initially it seemed a universal truth that the holders of senior secured debt, regardless of whether purchased at a discount, had the right to credit bid at a Bankruptcy Code section 363 sale of their collateral, the face...more

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

Singapore Legal Update - August 2016

MAS Proposes Enhancements to the Regulatory Requirements on Protection of Customer’s Moneys and Assets - The MAS Consultation Paper on Enhancements to the Regulatory Requirements on Protection of Customer’s Moneys and...more

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