Creditors Chapter 11

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The Devil's Dictionary of Bankruptcy Terms: Venue

The "Devil's Dictionary" is a quick-reference guide for commercial lenders and other restructuring professionals. In this series, we highlight many of the buzz words found in the Dictionary and used in today's bankruptcy...more

Court Rejects Lender’s Objection to Payment of Debtor’s Counsel’s Fees and Expenses from Pre-Petition Retainer

In a decision rendered on December 30, 2016, the bankruptcy court for the Southern District of Florida (the “Court”) addressed the debtor’s counsel’s interim application for an award of fees and expenses for services rendered...more

In re Roust: Seven Steps to Confirming a Plan in Seven Days

On January 6, 2017, Judge Robert D. Drain of the Bankruptcy Court for the Southern District of New York orally approved a prepackaged plan of reorganization (a “Prepack”) in In re Roust Corporation, et al. (Case No....more

The Devil's Dictionary of Bankruptcy Terms: Liquidating Chapter 11

The "Devil's Dictionary" is a quick-reference guide for commercial lenders and other restructuring professionals. In this series, we highlight many of the buzz words found in the Dictionary and used in today's bankruptcy...more

So What Does a Bankruptcy Carve-Out Clause Really Mean? Delaware Bankruptcy Court Concludes It is Not a Cap on Fees After All

In chapter 11 bankruptcy cases, it is not uncommon for secured parties/lenders to provide a “carve-out” for various professional fees. Frequently there may be a “carve-out” for “all chapter 11 professionals” or the...more

Delaware Bankruptcy Judge: A Carve-Out for Fees Is Not a Cap

Judge Christopher Sontchi recently issued an important opinion in the Molycorp chapter 11 case. He held that a standard carve-out in a financing order for the fees of counsel and other professionals for an official...more

Delaying a Bankruptcy for Shareholder Benefit May Benefit the Creditors After All

Equity holders and sponsors be wary - a new arrow may now be available in the quiver of potential causes of action that creditors and trustees can use to maximize their recovery in chapter 11 bankruptcy cases. In a recent...more

U.S. Bankruptcy Court for the Southern District of New York Confirms Chapter 11 Plan Less Than Two Weeks After Commencing...

On January 10, 2017, in the case of In re: Roust Corporation, et. al., (1623786 ) (RDD), pending in the U.S. Bankruptcy Court for the Southern District of New York (the “Bankruptcy Court”), Judge Robert D. Drain entered an...more

Bankruptcy Cases To Watch In 2017

John Melissinos was quoted in a Law360 article that ran January 2, 2017, discussing the top bankruptcy cases to watch in 2017 and the issues expected to dominate discussions over the next year including Chapter 11 exit...more

Plan Proponents Beware of “Death Trap” Traps in Chapter 11 Plans and Disclosure Statements

On November 22, 2016, a federal court in Texas ruled that the U.S. Department of Labor (DOL) unlawfully issued its Final Rule raising the minimum annual salary threshold for most “white collar” overtime exemptions under the...more

Yellowstone and the Barton Doctrine in the Third Circuit

The Barton doctrine, which has been imposed in “an unbroken line of cases … as a matter of federal common law,” In re Linton, 136 F.3d 544, 545 (7th Cir. 1998) (Posner, J.), requires that plaintiffs “obtain authorization from...more

Delaware Organizational Meeting – Hampshire Group Ltd.

Upcoming Committee Formation Meeting: Wednes., December 7, 2016, 10:00 a.m. Case Name: 16-12634 (LSS)...more

New Delaware Chapter 11 Filing – Hampshire Group Ltd.

Hampshire Group Ltd., a provider of fashion apparel across a range of product categories, channels of distributions and price points, and two of its U.S. subsidiaries have filed voluntary petitions for chapter 11 bankruptcy...more

An Offer You Can’t Refuse: Are Deathtraps a Tool for Fostering Settlements, or a Method of Coercion?

Accept an unpalatable offer, or reject it and risk getting much less (or even nothing)? This is the choice stakeholders in chapter 11 bankruptcies increasingly face as a result of the proliferation of “deathtrap” provisions...more

Delaware Organizational Meeting – Xtera Communications, Inc.

Upcoming Committee Formation Meeting: Tuesday, November 22, 2016, 10:30 a.m. Case Name: 16-12551 (BLS)...more

Delaware Organizational Meeting – American Apparel, LLC

Upcoming Committee Formation Meeting: Tuesday, November 22, 201610:30 a.m. Case Name: 16-12551 (BLS) - Location: Office of the US Trustee 844 King Street, Room 3209 Wilmington, DE 19801...more

Blog: Ninth Circuit Rules That A Purchaser of An Insider’s Claim Should Not Be Deemed an Insider for the Purposes of Voting on a...

Before a bankruptcy court may confirm a chapter 11 plan, it must determine if any of the persons voting to accept the plan are “insiders,”i.e., individuals or entities with a close relationship to the debtor. Because the...more

Supreme Court Watch 2016-2017 - Part I: Structured Dismissals and Insider Claims

The Supreme Court’s 2016–2017 term began last week with attention to two bankruptcy issues: Structured dismissals and insider claims. Structured Dismissals: - Structured dismissals occur when a company’s assets in...more

Louisiana State Mechanics’ Lien Law Trumps Parties’ Contract Terms

With U.S. oil and gas prices dipping low over the past year and a half, a large number of companies have declared bankruptcy. In the next year and a half, it is forecasted that more companies who are limping along, may seek...more

Delaware Organizational Meeting – IMX Acquisition Corp.

Upcoming Committee Formation Meeting: Wednesday, October 19, 2016, 10:00 a.m. Case Name: IMX Acquisition Corp. Case Number: 16-12238 (BLS)...more

Delaware Organizational Meeting – Filip Technologies, Inc.

Upcoming Committee Formation Meeting: Friday, October 14, 2016, 11:00 a.m. Case Name: Filip Technologies, Inc. Case Number: 16-12192 (KG)...more

Delaware Organizational Meeting – Garden Fresh Restaurant Intermediate Holdings, LLC

Upcoming Committee Formation Meeting: Thursday, October 13, 2016, 11:00 a.m. Case Name: Garden Fresh Restaurant Intermediate Holdings, LLC - Case Number: 16-12174 (CSS)...more

Delaware Bankruptcy Court Upholds Reclamation Creditors’ Rights

Vendors — take note! The Delaware bankruptcy court in In re Reichhold Holdings US Inc. recently issued an important ruling for vendors asserting reclamation rights. Under section 546(c) of the Bankruptcy Code, a vendor...more

Delaware Organizational Meeting – Verengo, Inc.

Upcoming Committee Formation Meeting: Wednesday, October 5, 2016, 10:00 a.m. Case Name: Verengo, Inc. Case Number: 16-12098 (BLS)...more

Delaware Organizational Meeting – Delivery Agent, Inc.

Upcoming Committee Formation Meeting: Thursday, September 29, 2016, 10:00 a.m. Case Name: Delivery Agent, Inc. Case Number: 16-12051 (LSS)...more

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