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Chapter 11 Nonprofits

Lathrop GPM

Building Nonprofit Resilience: Dealing with Financial Distress

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In this multi-part series, we highlight strategic steps that nonprofits can take to build organizational resilience in three different phases of its life cycle—in times of health, when beginning to experience financial or...more

Vinson & Elkins LLP

In re Boy Scouts of America and Delaware BSA, LLC: Delaware District Court Affirms Bankruptcy Court’s Approval of Third-Party...

Vinson & Elkins LLP on

On March 28, 2023, the United States District Court for the District of Delaware (the “District Court”) rendered an opinion (the “Opinion”) affirming the confirmation order of Laurie S. Silverstein, of the United States...more

Cozen O'Connor

AG Bonta Conditionally Approves Nonprofit Retirement Communities Transaction

Cozen O'Connor on

California AG Rob Bonta has conditionally approved the sale of California-Nevada Methodist Homes (Methodist)—a nonprofit that operates two continuing care retirement communities—to real estate firm Pacifica Companies LLC...more

Jones Day

Bankruptcy Court Lacks Power to Substantively Consolidate Nondebtor, Nonprofit Entities With Archdiocese Debtor

Jones Day on

In the wake of scandal-driven bankruptcies filed by nearly 20 U.S. Roman Catholic dioceses and religious orders, scrutiny has been increasingly brought to bear on the benefits and burdens that federal bankruptcy laws offer to...more

Sherman & Howard L.L.C.

U.S. Circuit Court Protects Assets of Nonprofit Corporations From Creditors of an Affiliated Entity

In a decision with major implications for nonprofit organizations, the U.S. Eighth Circuit Court of Appeals recently protected over 200 nonprofit corporations affiliated with the bankrupt Archdiocese of Saint Paul and...more

BCLP

Equity v. Statute: In Bankruptcy, the Code Prevails (The Official Committee of Unsecured Creditors v. The Archdiocese of Saint...

BCLP on

Garrison Keillor once said, “Sometimes I look reality straight in the eye and deny it.”[1] Being that the case arose in Minnesota, perhaps Circuit Judge Michael Melloy channeled Keillor, one of that state’s great humorists,...more

Davis Wright Tremaine LLP

Directors of Nonprofit Held Financially Liable for Relying on Incompetent Officers and Lack of Oversight

In a striking decision earlier this year, the 3rd Circuit Court of Appeals affirmed a jury’s findings of liability for breach of fiduciary duties and ‘deepening insolvency,’ and the award of $2.25 million in compensatory...more

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