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Read Business Organization updates, alerts, news, and legal analysis from leading lawyers and law firms:

Keep On Truckin’: Priority Rules Still Rule in Structured Dismissals

In 2015, Distressing Matters reported on the Third Circuit’s decision in In re Jevic Holding Corp., wherein that panel ruled that, in rare circumstances, bankruptcy courts may approve the distribution of settlement proceeds...more

Supreme Court Bars Structured Dismissals of Bankruptcy Cases That Violate the Code’s Priority Distribution Scheme – Could it...

by Foley & Lardner LLP on

On March 22, 2017 the Supreme Court issued its long-awaited ruling regarding the legality of structured dismissals of Chapter 11 bankruptcy cases that would make final distributions of estate assets to creditors in a manner...more

Supreme Court Gives WARN-ing To Companies In Bankruptcy: Don’t Ignore Wage Claims

by Fisher Phillips on

The U.S. Supreme Court held today in a 6 to 2 decision that “structured dismissals” resolving Chapter 11 bankruptcy proceedings cannot deviate from the Bankruptcy Code’s priority scheme without the consent of the affected...more

Key issues facing the UK residential care home sector

by DLA Piper on

Historical backdrop - The collapse of over 750 care homes operated by the Southern Cross group in 2011 following rapid expansion financed by the sale of leases of its homes exposed the financial risks inherent in the...more

Legal issues for those running construction businesses

by Dentons on

Insolvency issues - A review of the corporate insolvency regime: our Insolvency team recently responded to the government consultation on options for reform of the UK's corporate insolvency regime. It wants the UK to...more

Class Action Waivers in Employment Arbitration Agreements? Not as 'Fresh & Easy' as You Think

by Williams Mullen on

Many companies require their employees to sign employment agreements in which the employees agree that any claims they have against the company, including class action claims, will be decided only through private arbitration...more

A lifeboat with conditions: new guidance from the PPF

by Reed Smith on

The Pension Protection Fund (“PPF”) has updated its approach to employer restructuring guidance and its general guidance for restructuring and insolvency professionals. These documents set out certain criteria that should be...more

Sun Capital Decision Implicates Private Company Investing

by Goodwin on

On March 28, 2016, the U.S. District Court for the District of Massachusetts (the District Court) delivered a controversial opinion in Sun Capital Partners III, LP v. New England Teamsters & Trucking Industry Pension Fund...more

UK Executives Acquitted of Charges in Respect of Alleged Redundancy Consultation Breaches

by Dechert LLP on

As reported in a previous Onpoint three former directors of the collapsed parcel delivery firm City Link have been prosecuted relating to their failure to notify the Secretary of State of the redundancies which resulted from...more

Severance Payments May be Recoverable in a Company’s Bankruptcy

Working for the Queen of Hearts is a tough gig. A disappointing quarter and she’s quick to the chopping block. And the ‘severance’ she offers – “Off with their heads!” – no thanks....more

A WARNing to Directors and Officers — Failure to give proper WARN Act notice may breach your fiduciary duty

At first glance, Stanziale v. MILK072011, looks like someone suing over a bad expiration date and conjures up images of Ron Burgundy proclaiming “milk was a bad choice.” But in actuality Stanziale is much more interesting: it...more

Perspectives - September/October 2015

by Benesch on

In a decision in which no opinion commanded a majority, the Ohio Supreme Court sided with a private entity — a charter school operator — in a dispute over the ownership of personal property purchased by the operator with...more

FAQ: Recent Developments in US Law Affecting Pension and OPEB Claims in Restructurings (2015)

by Latham & Watkins LLP on

From theory to practice, planning to enforcement, the answers to 42 of the most frequently asked questions can help you prepare, cope, or respond to a restructuring. This Client Alert answers some of the most...more

The Small Business, Enterprise and Employment Act - When will the insolvency-related provisions come into force?

by Dentons on

Following Parliamentary approval in March 2015, there has been a level of uncertainty around the implementation timeline for certain company law and insolvency provisions. In particular, many of the changes to the Insolvency...more

Texas Bankruptcy Court 'Likes' Facebook and Twitter Accounts as Property of the Reorganized Debtor

by JD Supra Perspectives on

Bankruptcy courts will continue to confront issues involving social media assets for one primary reason: social media is now an indispensable part of the modern business model....more

Social Media Accounts in Bankruptcy: Business or Personal?

by JD Supra Perspectives on

A bankruptcy judge for the Southern District of Texas recently wrote a 30-page opinion – and sent a man to jail for failure to comply with it – over a modern and unlikely issue: his Facebook page. ...more

Potential Shareholder Liability Arising From Subsidiary WARN Act Violations

by Mintz Levin on

When a company begins experiencing financial difficulty, shareholders often ask whether they may be liable under the Federal Worker Adjustment and Retraining Notification (“WARN”) Act for violations by the company. When the...more

Who Should Hold the Bag for Employment Liabilities When the Portfolio Company Goes “Belly-Up”? The private equity firm, maybe.

In the world of private equity, vast sums of money are raised by private investors who pool their money into collective funds in order to acquire companies, i.e., a “portfolio company”, with the goal of eventually flipping...more

Recent Decision of the U.S. Court of Appeals for the First Circuit May Have Significant Implications for Private Equity Funds

In late July of this year, the U.S. Court of Appeals for the First Circuit reversed a Massachusetts District Court, and in a decision of first impression, held that one of Sun Capital Partner’s private equity funds was liable...more

Decanting By Various Means

by James McDonough on

Decanting By Various Means by James F. McDonough, Jr. on October 8, 2013 Decanting is a popular topic among wealth advisers, trust companies, and tax professionals. In the wine industry, it means putting old wine into...more

IRS Releases New Regulations for Deductible Business Repairs

by Joseph Donegan on

IRS Releases New Regulations for Deductible Business Repairs by Joseph M. Donegan on October 4, 2013 The Internal Revenue Service released a new set of guidelines governing tax-deductible business repairs, which may...more

Analysts Skeptical About Kodak’s Future Post-Bankruptcy

by Joel Glucksman on

Analysts Skeptical About Kodak’s Future Post-Bankruptcy by Joel R. Glucksman on September 13, 2013 Eastman Kodak Co. is expected to officially emerge from bankruptcy protection over the next few days, and once its...more

Private Equity Fund May Be Liable for Portfolio Company Withdrawal Liability

by King & Spalding on

In Sun Capital Partners III, LP v. New England Teamsters and Trucking Industry Pension Fund, the First Circuit Court of Appeals held that an investment fund managed by private equity firm Sun Capital Advisors, Inc. (“Sun...more

Private Equity Fund May Be “Trade or Business” Under ERISA

by Morgan Lewis on

First Circuit holds that an investment fund may be responsible for controlled group pension liabilities of portfolio companies. On July 24, the U.S. Court of Appeals for the First Circuit issued a significant decision...more

U.S., Cayman Islands Reach Tax Deal

by Joseph Donegan on

U.S., Cayman Islands Reach Tax Deal by Joseph M. Donegan on August 28, 2013 Falling in line with the push for greater global collaboration to combat tax evasion, the United States and the Cayman Islands have reached a...more

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