Bill on Bankruptcy: Big Time Lawyers Pricing Themselves Out
Bill on Bankruptcy: Delaware Garners Almost All Big Chapter 11s
Bill on Bankruptcy: Madoff Victims Rooting for Stanford Victory
Bill on Bankruptcy: Sex Doesn't Sell Enough to Avoid Bankruptcy
Bill on Bankruptcy: LightSquared, the Battle among Hedge Funds
Bill on Bankruptcy: Supreme Court Cases Will Have Wide Impact
Bill on Bankruptcy: Lawyers Must Disclose What Clients Pay
Bill on Bankruptcy: The Market's Unquenchable Thirst for Junk
Bill on Bankruptcy: Kodak Plan Bumps the Debt, Craters Stock
Bill on Bankruptcy: Lawyers Easily Make Simple Words Complicated
Bill on Bankruptcy: Easterbrook Turns the Tide on Student Loans
Bill on Bankruptcy: Stockton May Win the Battle, Lose the War
Bill on Bankruptcy: Why is Kodak's Stock Soaring?
Smolinsky Sees Similarities Between Reader's Digest, Kodak
Consultant: More Big Law Firms Will "Implode"
Bill on Bankruptcy: Rakoff Reverses Himself in Madoff Case
Bill on Bankruptcy: MF Global Creditors Undeterred by Low Value
Bill on Bankruptcy: Fee Agreement Puts Law Firm In Trustee's Sights
Bill on Bankruptcy: Will 2013 Be Kind To The Bankruptcy Bar?
Bill on Bankruptcy: Big Surprises For AMR, MF Global Creditors
On June 23, 2014, a federal bankruptcy court in Nebraska issued an order in the chapter 11 bankruptcy cases of Biovance Technologies, Inc. and William Edward Julien that granted American National Bank’s (“ANB”) motion for...more
In a rare burst of bankruptcy enthusiasm, the US Supreme Court in June issued two decisions on matters important to the administration of bankruptcy cases.
In re Bellingham, decided June 9, addressed a seemingly...more
A creditor who settles with a debtor during a bankruptcy case must be sure to continue following the case during the plan stage, or risk the plan affecting the creditor’s rights against third parties. Iberiabank learned that...more
Earlier this month the Sixth Circuit Court of Appeals ruled that the appeal of Syncora Guarantee Inc. must be heard by the lower federal district court before the bankruptcy court may conduct its trial on the city’s proposed...more
In a recent decision welcomed by creditors, the United States District Court for the Eastern District of North Carolina reversed a bankruptcy court order confirming a Chapter 11 debtor’s plan because the debtor engaged in...more
In In re 3333 Main, LLC, Case No. 13-51533 (ECF No. 172) (Bankr. D. Conn. May 29, 2014) (Shiff, J.), the Debtor listed a number of unsecured claims on its bankruptcy schedules without indicating they were disputed, contingent...more
In this issue:
- Are Breakup Fees at Risk?
- Credit Bidding Rights Limited, Capped by Debt Purchase Amount
- Court Upholds Creditor’s Security Interest Despite Post-Petition Lapse of Financing Statement...more
One deliberately ironic facet of the 2004 film Howard Hughes bio-pic The Aviator (the one with Leonardo DiCaprio) is the fact that the airlines fighting for world dominance in the 1940s were Howard Hughes’ TWA and Juan...more
A little over a year ago, I authored an article addressing the question of whether the “Absolute Priority Rule” applied to Chapter 11 bankruptcy cases filed by an individual. That article, which focused on the decision of the...more
Energy Future Holdings Corp. filed a prepackaged ("pre-pack") chapter 11 in April 2014 seeking a complete restructuring and quick-exit from bankruptcy, aiming to be in and out of bankruptcy in under 11 months. In May 2014,...more
The U.S. District Court for the District of Delaware has affirmed a bankruptcy court order which approved both a sale of the debtors’ assets and the establishment of an escrow account, which essentially provides a “gift” to...more
As noted in a previous Sutherland Legal Alert, the American Bankruptcy Institute has formed a Commission to Study the Reform of Chapter 11 (the Commission). To further its goal of proposing changes to modernize the Bankruptcy...more
For numerous corporate Chapter 11 debtors, the sale of some or all of the company’s assets may be the only way to reorganize the company’s debt. Section 363 of the Bankruptcy Code sets forth a specific procedure wherein the...more
A recent decision by the U.S. District Court for the Western District of Washington found that certain distressed debt funds were not “financial institutions” under the definition of “Eligible Assignee” in the applicable loan...more
In a ruling yesterday, Judge Christopher Sontchi of the United State Bankruptcy Court for the District of Delaware denied a motion by a bond trustee to transfer venue of the Dallas-based Energy Future Holdings from...more
On Monday, May 29, 2014, the United States Bankruptcy Court for the Southern District of New York approved Sbarro LLC’s plan of reorganization, paving the way for the pizza restaurant chain to exit bankruptcy. Sbarro filed...more
The Sixth Circuit Court of Appeals recently issued an opinion confirming that the absolute priority rule still applies to individual chapter 11 debtors following the 2005 amendments to the Bankruptcy Code. Ice House America,...more
On April 29, 2014, Energy Future Holdings filed what it claims is a pre-packaged chapter 11 bankruptcy in Delaware. The bankruptcy, which ranks among the largest cases ever with over $36 billion in assets and nearly $50...more
On April 8, 2014, Chief Bankruptcy Judge Frank R. Alley, III for the United States Bankruptcy Court for the District of Oregon found that Sunstone Business Finance, LLC's claim against debtor C&K Market, Inc. did not...more
The following is an executive summary of the “need to know” bankruptcy concepts as they impact creditors in business insolvencies.
CHAPTER 11 vs. CHAPTER 7 -
- Chapter 11 is technically used for bankruptcy...more
Supreme Court Holds Severance Payments Are Subject to FICA Taxes -
Reversing a decision by the Sixth Circuit Court of Appeals, the U.S. Supreme Court ruled unanimously that severance payments to employees who were...more
As is well known, the right to credit bid is the entitlement of a secured lender to bid the amount of its outstanding claims at the sale of its collateral. If the secured lender places the winning bid, no money is exchanged...more
On April 11, 2014 Coldwater Creek filed in Delaware for Chapter 11 bankruptcy reorganization. It follows filings in 2014 by Dots, January in New Jersey, and Ecko, April in New Jersey. For retailers, the most common motivation...more
In This Issue:
- Fairfax Circuit Court Strikes Down Noncompete as Overbroad, Offering Yet Another Lesson for Employers
- No WARNing of Bankruptcy?
- Department of Labor Further Delays Publication of its Final...more
When Reston-based Simplexity, LLC (known more commonly as Wirefly.com and its related sites) recently filed for chapter 11 bankruptcy it had, sadly, already terminated nearly its entire workforce. According to pleadings...more
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