Commercial Bankruptcy

News & Analysis as of

Blog: Illinois Bankruptcy Court Articulates Low Threshold for Equitable Subordination of Insider Secured Loan

For a distressed company running low on capital, an investment from insiders may represent a last best hope for survival. Insiders may be willing to risk throwing good money after bad for a chance to save the company even...more

Your daily dose of financial news The Brief – 2.10.16

We’ve all heard about the billions in tax savings associated with corporate tax inversions, but Deal Professor says the real tax-avoidance game is in a strategy called “earnings stripping”—a technique in which a multinational...more

Delaware Bankruptcy Judge Rejects Effort to Circumvent Supreme Court’s Asarco Decision

The Supreme Court’s decision last term in Baker Botts v. Asarco, in which the Court ruled that professionals that are paid from a debtor’s bankruptcy estate cannot be compensated for time spent defending their fee...more

The Oil Bust…Bankruptcy Boom?

Although the news is filled with stories of falling oil and gas prices and suggestions that a third of the exploration and production companies may file for bankruptcy, this most recent downturn may not produce the bankruptcy...more

Third Circuit Holds Companies in Bankruptcy Can Reject Expired CBAs

In a ruling that comes as a blow to organized labor and a boon to employers in bankruptcy, the U.S. Court of Appeals for the Third Circuit recently broke new appellate ground in holding that Section 1113 of the Bankruptcy...more

Committee Formation Meeting for SFX Entertainment, Inc., et al.

Upcoming Committee Formation Meeting: Friday, February 12, 2016, 10:00 a.m. Case Name: SFX Entertainment, Inc., et al. Case Number: 16-10238 (MFW)...more

Your daily dose of financial news The Brief – 2.9.16

Think you need to be in commodities or emerging markets to send ripples of fear through the markets these days? Well how about one of the world’s biggest banks. Because markets aren’t so hot on them right now, either –...more

NHL Scores Big on Attorneys' Fees Against Nondebtors

Last fall, the National Hockey League (NHL) enjoyed a big off-ice victory when the U.S. District Court for the District of Arizona found that it was entitled to recover from Jerry and Vickie Moyes and the Jerry and Vickie...more

Bankruptcy Trumps Collective Bargaining Agreement

A federal court recently ruled that the Bankruptcy Code (the “Code”) permits an employer to escape their expired collective bargaining agreement obligations under certain circumstances. In the matter of In re Trump...more

Midstream Contract Acreage Dedications at Risk

If you read one thing... - On Tuesday, Judge Shelley Chapman, the Southern District of New York Bankruptcy Judge in the Sabine Oil & Gas chapter 11 cases, noted she was “inclined” to permit the rejection of certain...more

Committee Formation Meeting for Peregrine Midstream Partners LLC and Ryckman Creek ResourcesLLC, et al.

Upcoming Committee Formation Meeting: February 12, 2016, 10:00 a.m. Case Name: Peregrine Midstream Partners LLC and Ryckman Creek Resources, LLC, et al. Case Number: 16-10292 (KJC)...more

Committee Formation Meeting for Hancock Fabrics, Inc., et al.

Upcoming Committee Formation Meeting: Wednesday, February 10, 2016, 10:00 a.m. Case Name: Hancock Fabrics, Inc., et al. Case Number: 16-10296 (BLS)...more

Committee Formation Meeting for Liquid Holdings Group, Inc., et al.

Upcoming Committee Formation Meeting: Thursday, February 11, 2016, 10:00 a.m. Case Name: Liquid Holdings Group, Inc., et al. Case Number: 16-10202 (KG)...more

Committee Formation Meeting for Outer Harbor Terminal, LLC

Upcoming Committee Formation Meeting: February 11, 2016, 12:00 p.m. Case Name: Outer Harbor Terminal, LLC - Case Number: 16-10283 (LSS)...more

11th Circuit Says Assignee Cannot File Bankruptcy for Company

An “Assignment for the Benefit of Creditors” (an “ABC”) is an alternative to bankruptcy available under California law—as well as the laws of other states. An ABC is often a more cost-efficient alternative to filing a...more

Committee Formation Meeting for Horsehead Holding Corp., et al.

Upcoming Committee Formation Meeting: February 16, 2016, 1:00 p.m. Case Name: Horsehead Holding Corp., et al. Case Number: 16-10287 (CSS)...more

Committee Formation Meeting for RCS Capital Corporation, et al.

Upcoming Committee Formation Meeting: February 11, 2016, 11:00 a.m. Case Name: RCS Capital Corporation, et al. Case Number: 16-10223 (MFW)...more

New Delaware Chapter 11 Filings – Affiliates of Seaboard Realty, LLC

On February 4, 2016, nine affiliates of Seaboard Realty, LLC filed petitions seeking voluntary relief under chapter 11 of the Bankruptcy Code before the United States Bankruptcy Court for the District of Delaware....more

Committee Formation Meeting for Extreme Plastics Plus, Inc., et al.

Upcoming Committee Formation Meeting: February 10, 2016, 1:00 p.m. Case Name: Extreme Plastics Plus, Inc., et al. Case Number: 16-10221 (CSS)...more

New Delaware Chapter 11 Filing – Horsehead Holding Corp. et al.

Horsehead Holding Corp. (Nasdaq: ZINC) and four affiliate debtors, which comprise an integrated produce of zinc, zinc oxide and zinc powder from recycled sources, have filed chapter 11 petitions before the United States...more

New Delaware Chapter 11 Filing – Outer Harbor Terminal, LLC

Outer Harbor Terminal, LLC (a/k/a Ports America Outer Harbor Terminal, LLC), the former lessor and operator of the Outer Harbor Terminal in Oakland, California, has filed a chapter 11 petition before the United States...more

Bankruptcy Law "Trumps" The National Labor Relations Act in Casino Reorganization Case

In a case of first impression, the United States Court of Appeals for the Third Circuit recently ruled that federal bankruptcy courts may extinguish a Chapter 11 employer’s obligations under an expired collective bargaining...more

How Will Exploration and Production Companies Weather the Storm of 2016?

On December 31, 2014, when the price of West Texas Intermediate crude oil dropped 50% from summer prices that year to just under $55.00 per barrel, experts predicted there would be a flurry of industry restructurings; but no...more

New Delaware Chapter 11 Filing – Hancock Fabrics, Inc. et al.

Hancock Fabrics, Inc. (OTC: HKFI), a retailer of fabric, sewing and accessories, and six of its affiliates have filed chapter 11 petitions before the United States Bankruptcy Court for the District of Delaware (lead case no....more

New Case Filing – Chapter 11 – Peregrine Midstream Partners, LLC

Peregrine Midstream Partners LLC and three of its affiliates, which operate natural-gas storage facilities, have commenced cases (Lead Case No. 16-10292 (KJC)) under Chapter 11 of the Bankruptcy Code by filing petitions...more

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