General Business Bankruptcy

Read need-to-know updates, commentary, and analysis on General Business issues written by leading professionals.
News & Analysis as of

Hudson Energy Denied Administrative Priority for Electricity Sold Pre-Bankruptcy

In a September 18, 2015 order, the U.S. District Court for the Southern District of New York affirmed a bankruptcy court order denying administrative claim treatment to Hudson Energy Services, LLC (“Hudson”) for its retail...more

Perspectives - September/October 2015

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

The Legacy of the RadioShack Bankruptcy and the Importance of PII

Customer information has become an increasingly valuable business asset. And, the volume and detail of other available information about consumers has increased along with it, well beyond mere customer names and addresses to...more

Energy Future Holdings – Kicking a Very Large Can Down the Road

Energy Future Holdings (“EFH” or “Debtors”) has cleared all of the preliminary hurdles in its path as it moves towards the confirmation of its plan of reorganization (the “Plan”). Last week Judge Christopher Sontchi of the...more

Creditors Will Struggle in Bankrupt Individuals Cases Starting 1 October 2015 - The New Personal Bankruptcy Law Enters into Force...

The new personal bankruptcy law enters into force on 1 October 2015. Individuals will now be allowed to go bankrupt while creditors are left to struggle. The rules have caused much apprehension and it remains to be seen how...more

Construction Briefing - Legal changes affecting construction businesses from 1 October 2015

1 October 2015 ushers in a number of legal changes which affect construction businesses operating in the UK. We have provided brief highlights of some of the changes below. If you need further information, please contact us...more

The Small Business, Enterprise and Employment Act 2015: Restructuring and Insolvency

Following Parliamentary approval in March 2015, this Implementation Timetable sets out the key dates and changes which have been published to date on the insolvency provisions of the Small Business, Enterprise and Employment...more

New Opportunities in Cross-Border Special Situations Lending

Recent changes in cross-border leveraged loan documentation requirements open up new possibilities for both borrowers and lenders. Cross-border leveraged loan documentation has become increasingly permissive with respect...more

The United States Bankruptcy Court for the Southern District of New York Deals Loss to Lehman in Interpreting Loss Under ISDA...

In a blow to the Lehman Chapter 11 estates, the United States Bankruptcy Court for the Southern District of New York held on September 16, 2015 that Intel Corporation’s Loss calculation resulting from a failed transaction...more

The latest on the Small Business, Enterprise and Employment Act 2015: Restructuring and Insolvency

More important changes to the Insolvency Act 1986 (IA86) and other insolvency- related legislation come into force this week (1 October 2015) as a result of the Small Business, Enterprise and Employment Act 2015 (SBEEA 2015)....more

FRANCHISEE 101: Bankruptcy Discharges Franchise Law Claims

A recent Bankruptcy Appellate Panel decision is a reminder of both a benefit of bankruptcy, in appropriate circumstances, and the need to respect the bankruptcy discharge a party obtains in the process. Mr. Lee was...more

Tough News for Lenders - Major NC Supreme Court Decision on Collection of Post-Foreclosure Deficiencies

Fall is football time. And as every football fan knows, not every player on the line of scrimmage is an eligible receiver. Imagine how dramatically it would change the game if the entire offensive line were eligible to catch...more

Florida District Court Affirms Bankruptcy Court Bar Order In Favor Of Former Ds & Os

On September 24, Southern District of Florida District Court Judge James I. Cohn issued an opinion affirming an order approving the settlement of a debtor’s breach of fiduciary duty, corporate waste, and mismanagement claims...more

True Health Diagnostics to Acquire Health Diagnostic Laboratory

A U.S. Bankruptcy Court judge has approved the sale of Health Diagnostic Laboratory (HDL), based in Richmond, Va., to True Health Diagnostics, based in Frisco, Texas, for $37.1 million, according to a Richmond Times Dispatch...more

Committee Formation Meeting for Samson Resources Corporation, et al.

Upcoming Committee Formation Meeting: September 30, 2015 at 10:00 a.m. Case Name: Samson Resources Corporation, et al. Case Number: 15-11934 (CSS) - Location: Sheraton Suites Wilmington Downtown, 422 Delaware...more

Nuovo Regolamento UE sulle procedure d’insolvenza

Il Regolamento si pone l’obiettivo di rendere più efficienti le regole sulle insolvenze transfrontaliere, trovare il giusto equilibrio nella protezione sia dei debitori che dei creditori e privilegiare il risanamento delle...more

Life After Death for Chapter 7 Corporate Debtors? What Remains After a Corporate Liquidation

Individuals filing for bankruptcy pursuant to Chapter 7 of Title 11 of the United States Code (the "Bankruptcy Code") generally do so to have their debts discharged and receive the proverbial "fresh start." The same, however,...more

Italy Significantly Amends Debt Restructuring and Bankruptcy Proceedings

Material changes to the Italian bankruptcy law will likely result in increased interest of investors in the distressed market. The Italian legislators passed significant amendments to the legal framework applicable to...more

Recent Czech Supreme Court Decisions: Twilight of Secured Creditors?

The Czech Supreme Court recently issued two decisions having significant impact on the position of secured creditors (i.e. generally financial institutions) within insolvency proceedings. Both decisions stem from one of the...more

Orrick's Derivatives in Review - September 2015

District Court Holds that Assignee is Not Entitled to Safe Harbor Protections - On May 28, 2015, the United States District Court for the Central District of California affirmed a bankruptcy court order finding that a...more

Le soluzioni concordate alla crisi di impresa rese più efficaci dalla riforma della legge fallimentare

Il Decreto ha chiarito dubbi interpretativi e introdotto nuovi strumenti che possono favorire l’esito positivo dei processi di risanamento dell’impresa in crisi. È stato pubblicato nella Gazzetta Ufficiale n. 147 del 27...more

Justice Friedman Allows Breach of Fiduciary Duty Claim to Proceed Against Corporate Directors Under Delaware Law

In AP Services, LLP v. Lobell et. al, No. 651613/2012, 2015 NY Slip Op 31115(U) (N.Y. Sup. Ct. June 19, 2015) (argued Feb. 21, 2014), Justice Friedman, applying Delaware Law, denied a motion to dismiss plaintiff AP Services,...more

District Court Confirms Netting/Setoff Practices

In a recent decision related to the SemCrude bankruptcy, the federal district court upheld the Bankruptcy Court’s rulings on the efficacy of certain common risk-mitigation tools used in the energy trading and marketing...more

Recent Case Offers Insight Into the Protection of Security Interests

The failure to perfect a security interest could result in losing property rights altogether despite being the unqualified owner of the property. A very recent example of this is the case of Wells Fargo Foothill Canada ULC v...more

Whose Property Is The Corporate Social Media Account?

As we have discussed in previous posts, the issues surrounding ownership rights to an employer’s social media account and its contents continues to be a moving target without definitive answers. A federal bankruptcy court...more

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