Business Organization Finance & Banking Bankruptcy

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Supreme Court Update: Merrill Lynch V. Manning (14-1132), Huskie Int'l Electronics V. Ritz (15-145), Sheriff V. Gillie (15-338)...

It's that time of year! Fresh on the heels of the six decisions handed down Monday, the Court issued another three yesterday, with more to come on the other side of the weekend. This Update will cover the remaining three...more

Organizational Meeting – Phoenix Brands LLC, et al.

Upcoming Committee Formation Meeting: June 1, 2016, 10:00 AM - Case Name: Phoenix Brands LLC, et al. Case Number: 16-11242 (BLS)...more

Insolvency and energy insights: The Redwater decision

The Alberta Court of Queen’s Bench decision in Redwater Energy Corporation Re, 2016 ABQB 278, written by Chief Justice Neil Wittmann, clarifies that the provisions of the Bankruptcy and Insolvency Act (BIA) addressing the...more

New Delaware Chapter 11 Filings – Phoenix Brands, LLC et al.

Phoenix Brands, LLC and three affiliates have filed chapter 11 petitions before the United States Bankruptcy Court for the District of Delaware (Lead Case No. 16-11242). ...more

New Delaware Chapter 11 Filing – Intervention Energy, LLC

Intervention Energy, LLC, a privately held non-operated oil and gas company based in Minot, North Dakota, has filed a Chapter 11 Petition before the United States Bankruptcy Court for the District of Delaware (Lead Case No....more

Supreme Court: Fraudulent Conveyance Scheme Renders Debt Nondischargeable in Bankruptcy

On May 16, 2016, the U.S. Supreme Court issued its opinion in Husky International Electronic, Inc. v. Ritz. The opinion is a favorable development for creditors because it expands the types of fraudulent conduct that can...more

Delaware Organizational Meeting – Constellation Enterprises LLC

Upcoming Committee Formation Meeting: Wednesday, May 25, 2016, 10:00 AM - Case Name: Constellation Enterprises LLC - Case Number: 16-11213 (CSS)...more

New Delaware Chapter 11 Filing – Constellation Enterprises LLC et al.

Constellation Enterprises LLC and nine affiliates have filed chapter 11 petitions before the United States Bankruptcy Court for the District of Delaware (Lead Case No. 16-11213). The cases have been assigned to the Honorable...more

New Delaware Chapter 11 Filing – Dex Media Inc. et al.

Dex Media, Inc. (OTC PINK: DXMM) and twelve affiliated companies have filed chapter 11 petitions before the United States Bankruptcy Court for the District of Delaware (Lead Case No. 16-11200). Honorable Kevin Gross will...more

EU Technical Standards on Contents of a Business Reorganization Plan and Reporting on Implementation

The European Commission adopted a Delegated Regulation outlining the regulatory technical standards on the elements of a business reorganization plan and the minimum contents for reporting progress in the implementation of...more

Delaware Organizational Meeting – Chaparral Energy, Inc., et al.

Upcoming Committee Formation Meeting: Wednesday, May 18, 2016, 10:00 AM - Case Name: Chaparral Energy, Inc., et al. Case Number: 16-11144 (LSS)...more

Bankruptcy Court Opinion Clarifies California Law on Duties of Directors & Officers Upon Insolvency

It is not unusual in the lifecycle of a start-up for the company to hit road blocks and have cash flow issues. During these times, the board and its members will ask the company’s professionals what their fiduciary duties are...more

Bridging the Week - May 2016 #2

FiNCEN Finalizes Rules Requiring Banks, Broker-Dealers, FCMs, Mutual Funds and IBs to Help Verify Beneficial Owners of Certain Accounts: The Financial Crimes Enforcement Network finalized rules requiring banks,...more

New Delaware Chapter 11 Cases- Chaparral Energy, Inc. and Affiliates

Chaparral Energy, Inc., an independent oil and natural gas exploration and production company, and ten of its affiliates have commenced cases under Chapter 11 of the Bankruptcy Code by filing petitions with the U.S....more

MoFo Tax Talk - Volume 9, No. 1

IRS Publishes Proposed section 305(c) Regulations - On April 12th, the IRS published proposed regulations under Section 305(c) that address the treatment of deemed dividends to holders of stock and rights to acquire...more

CR&B Alert - Commercial Restructuring and Bankruptcy News - May 2016, No. 2

Can A Bank-Appointed Director Block A Bankruptcy Filing By A Borrower? The scenario is fairly typical. A loan goes into default and the bank and the borrower enter into a Forbearance Agreement. One of the conditions of...more

Delaware Organizational Meeting – BIND Therapeutics, Inc., et al.

Upcoming Committee Formation Meeting: Thursday, May 12, 2016, 10:00 a.m - Case Name: NephroGenex, Inc. Case Number: 16-11074 (KG)...more

To Mitigate or Not to Mitigate – That is the Question!

If you suffer loss as a result of negligent advice, do you have a duty to mitigate? If yes, what does that duty look like in practice? How far do you need to go in attempts to reduce the loss you have suffered? This was the...more

New Delaware Chapter 11 Filing – Legend International Holdings, Inc.

Legend International Holdings, Inc. (OTCBB: LGDI), an Australian phosphate and fertilizer concern, has filed a chapter 11 petition before the United States Bankruptcy Court for the District of Delaware (Case No....more

Delaware Committee Formation Meeting for NephroGenex, Inc.

Upcoming Committee Formation Meeting: Thursday, May 12, 2016, 10:00 a.m - Case Name: NephroGenex, Inc. Case Number: 16-11074 (KG)...more

Making the Safe Harbors Safe Again - United States Court of Appeals for the Second Circuit Holds That State Law Constructive...

The Bankruptcy Code contains “safe harbors” that, among other things, exempt transfers made in connection with certain financial contracts, including securities contracts, from avoidance by the bankruptcy trustee as...more

New Delaware Chapter 11 Filing – BIND Therapeutics, Inc. et al.

BIND Therapeutics, Inc. (Nasdaq – BIND), a clinical-stage nanomedicine platform company development novel targeted therapeutic, primarily for the treatment of cancer, and its affiliate BIND Biosciences Security Corporation,...more

New Delaware Chapter 11 Filing – NephroGenex, Inc.

NephroGenex, Inc. (Nasdaq – NRX), an innovator in the development of drugs to treat kidney disease, has filed a chapter 11 petition before the United States Bankruptcy Court for the District of Delaware (Case No. 16-11074)....more

When is a Wrongful Foreclosure Case a “SLAPP”?

California’s anti-SLAPP statute (Code of Civil Procedure section 425.16) arms a defendant with an early method to challenge a lawsuit known as a “SLAPP” — a Strategic Lawsuit Against Public Participation. SLAPPs are...more

Delaware Committee Formation Meeting for AF-Southeast, LLC, et al.

Upcoming Committee Formation Meeting: Thursday, May 5, 2016, 1:00 p.m - Case Name: AF-Southeast, LLC, et al. Case Number: 16-11008 (KG)...more

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