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Chapter 11 Exceptions

Bradley Arant Boult Cummings LLP

Fourth Circuit Decision Clarifies Application of Exceptions to Discharge in a Subchapter V

As discussed in prior posts and articles (here, here and here), in 2019 Congress passed the Small Business Reorganization Act creating new Subchapter V of Chapter 11 of the Bankruptcy Code. The purpose of Subchapter V was to...more

Skadden, Arps, Slate, Meagher & Flom LLP

Recent Developments in the Enforceability of Make-Whole Premiums in the Second Circuit

In March 2019, Judge Stuart M. Bernstein of the U.S. Bankruptcy Court for the Southern District of New York ruled that lenders using clear and unambiguous language in their loan agreements may be entitled to prepayment...more

Jones Day

Without WARN-ing: Third Circuit Clarifies WARN Act's Unforeseen Business Circumstances Exception

Jones Day on

Valera v. AE Liquidation, Inc., the Third Circuit Court of Appeals agreed with five other circuits in holding that WARN notice was not required where an external event outside the employer's control triggering layoffs was...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Layoffs Without WARN-ing: How to Use the Unforeseeable Business Circumstance Exception

A recent federal trial court decision out of Delaware, In re AE Liquidation, Inc. v. Burtch, No. 14-1492-LPS (D. Del. Mar. 31, 2016), illustrates how, even in the context of a very troubled business, the Worker Adjustment and...more

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