Chapter 11

News & Analysis as of

Delaware Law Updates – Freedom of Contract in LLC Structure Is Not Absolute Where Parties Seek Bankruptcy Relief

In re Intervention Energy Holdings, LLC, Case No. 16-11247 (D. Del. June 3, 2016), the Bankruptcy Court for the District of Delaware dealt with the issue of whether a Delaware LLC lacked authority to file a Chapter 11...more

Security Interest v. License Agreement: Low Tech Precautions for the High Tech Investment

In this exciting age of startups, the market is brimming with opportunities for individuals and entities alike to invest in emerging companies. Today’s rapid rate of technology development justifies investors’ eagerness to...more

Preparing Yourself and Your Client for Chapter 11: Part I of II – The Petition Package, Filing the Case, Filing Fees, and First...

As a Chapter 11 debtor’s attorney, the prospect of serving as debtor’s counsel is an exciting – and increasingly rare – opportunity. The preparation for filing a Chapter 11 case involves negotiating complex cash collateral...more

General Motors: Protection Granted in Section 363 Sale Orders is Only as Good as the Notice Given

In a recent decision by the U.S. Court of Appeals for the Second Circuit in the General Motors case, the court held certain claimants were not afforded procedural due process with respect to the § 363 sale of General Motor...more

U.S. Supreme Court to Weigh in on Structured Dismissals and Settlements Circumventing the Bankruptcy Code’s Priority Scheme

On June 28, 2016, the U.S. Supreme Court agreed to hear a challenge to a Third Circuit-affirmed settlement and dismissal of the chapter 11 cases of Jevic Transportation, Inc. (“Jevic”) and certain of its affiliates. See...more

Delaware Organizational Meeting – ESML Holdings and Essar Steel Minnesota LLC

Upcoming Committee Formation Meeting: Tuesday July 19, 2016, 10:00 AM - Case Name: ESML Holdings Inc. Case Number: 16-11626 (BLS)...more

How Reporting a Crime May Subject You to Sanctions

You are a creditor and your loan is secured by personal property, let’s say equipment. The borrower recently filed for bankruptcy protection. You receive a phone call from a friend advising you that someone has a moving...more

Corporate and Financial Weekly Digest - Volume XI, Issue 26

SEC/CORPORATE – SEC Division of Corporation Finance Issues C&DIs on Application of Rule 701 – On June 23, the Staff of the Division of Corporation Finance (Staff) of the Securities and Exchange Commission...more

Essar Steel Affiliates File Chapter 11 and Chapter 15 Petitions in Delaware

Certain North American based affiliates of Essar Steel Ltd (Mumbai) have today filed Chapter 11 and Chapter 15 petitions in Delaware. ESML Holdings Inc. and Essar Steel Minnesota LLC have filed Chapter 11 proceedings in...more

Delaware Bankruptcy Court: Corporate Debtor's Negotiated Waiver of Bankruptcy Protection Void as Contrary to Federal Public Policy

A provision in LLC's corporate governance document, the sole purpose and effect of which is to place into the hands of a single minority holder (who happens to be a Creditor of the LLC) the ultimate authority to deny the...more

Delaware Organizational Meeting – SynCardia Systems, Inc.

Upcoming Committee Formation Meeting: Thursday July 14, 2016, 1:30 PM - Case Name: SynCardia Systems, Inc. Case Number: 16-11599 (MFW)...more

Sports Authority sells it customer database to Dick’s Sporting Goods for $15 million

Sports Authority, Inc. (“Sports Authority”) advertisements have been everywhere lately –‘everything must go!’ But does this include their customers’ personal information, too? Because Sports Authority has filed for Chapter 11...more

A Flip on the Flip Clause: Lehman Court Changes Course on Flip Provisions and Financial Safe Harbors

New York bankruptcy judge dismisses claims to recover approximately $1 billion that had been distributed to noteholders following commencement of the Lehman Brothers chapter 11 proceedings in September 2008. After more...more

New Delaware Chapter 11 Filing – Essar Steel Minnesota LLC and ESML Holdings Inc.

Essar Steel Minnesota LLC and its parent, ESML Holdings Inc., which operate an open-pit mine and greenfield pellet plant in Minnesota, have commenced cases (Case Nos. 16-11627 and 16-11626, respectively) under Chapter 11 of...more

Excess Policies at Issue Deemed Not to Attach Absent Actual Payment of the Amount of Underlying Limits by Either the Insured or...

Policyholders contemplating insurance coverage settlements with low-level insurers should use caution to preserve their ability to access higher-level excess policies. Excess insurers are increasingly disputing that...more

Sabine Lives On (and On): Bankruptcy Court Rejects Immediate Appeal to Second Circuit and Motion for Stay

On June 16, 2016, The Bankruptcy Cave gave you our summary of the controversial Sabine decision. At that time, post-hearing motions were pending. As luck would have it (we at The Bankruptcy Cave should start wagering on...more

Delaware Organizational Meeting – Triangle USA Petroleum Corporation., et al.

Upcoming Committee Formation Meeting: Wednesday July 12, 2016, 2:00 PM - Case Name: Triangle USA Petroleum Corporation., et al. Case Number: 16-11556 (MFW)...more

New Delaware Chapter 11 Filing – SynCardia Systems, Inc.

SynCardia Systems, Inc. has filed a chapter 11 petition before the United States Bankruptcy Court for the District of Delaware (Case No. 06-11599). The debtor is the manufacturer of an FDA-approved Total Artificial Heart. ...more

Supreme Court to Hear Truck Drivers’ Challenge to Structured Dismissals in Bankruptcy

The U.S. Supreme Court will hear a group of truck drivers’ challenge to the dismissal of a chapter 11 bankruptcy case that was designed to avoid paying the drivers’ claims. The truck drivers are appealing the Third Circuit’s...more

New Chapter 11 Petition – Triangle USA Petroleum Corporation

Triangle USA Petroleum Corporation and five of its affiliates, including its Ranger Fabrication business, have filed chapter 11 petitions before the United States Bankruptcy Court for the District of Delaware (Lead Case No....more

Delaware Organizational Meeting – iON Worldwide, Inc.

Upcoming Committee Formation Meeting: Wednesday July 6, 2016, 10:30 AM - Case Name: iON Worldwide, Inc. Case Number: 16-11543 (LSS)...more

What Do Edison, Overalls and Opportunity Have in Common?

Thomas Edison famously said that “opportunity is missed by most people because it is dressed in overalls and looks like work.” Consistent with Edison’s musings, companies in an acquisition mode often overlook opportunities...more

New Delaware Chapter 11 Filing – iON Worldwide LLC

iON Worldwide, LLC, a maker of point-of-view video cameras, has filed a chapter 11 petition before the United States Bankruptcy Court for the District of Delaware (Case No. 16-11543)....more

Three Point Shot - June 2016

Showtime and Top Rank Slug It out over "Fight of the Century" - Who said boxing was dead? Fight fans still bitter over the May 2015 Floyd Mayweather–Manny Pacquiao bout that was far more mega-bore than mega-brawl...more

Delaware Organizational Meeting – Maxus Energy Corporation, et al.

Upcoming Committee Formation Meeting: Tuesday June 27, 2016, 10:00 AM - Case Name: Maxus Energy Corporation, et al. Case Number: 16-11501 (CSS)...more

540 Results
|
View per page
Page: of 22
JD Supra Readers' Choice 2016 Awards

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×