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Troutman Pepper

How Cannabis Cos. Are Adapting in Shifting Bankruptcy Arena

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Although the possession and sale of cannabis remain federally illegal under the Controlled Substances Act, the U.S. Department of Justice has largely exercised a general policy of nonprosecution for state-regulated cannabis...more

Seward & Kissel LLP

Air Sickness, Token Appeal, and Cooling Down

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Editor’s Note: Hat tip to the Creditors Rights Coalition for reaching out after last week’s blog to inform yours truly that the “judge shopping” concerns of creditor advocates extend beyond just the S.D. of Texas, and that a...more

Seward & Kissel LLP

Bad Intentions, Demanding a Refund, Leaving the Station, The Lord(stown) Giveth, and Poor Choice

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Celsius files intent to claw back certain pre-bankruptcy withdrawals| CoinTelegraph - On January 9, Celsius bankruptcy administrators notified creditors that account holders who took out more than $100,000 in the 90 days...more

Kerr Russell

U.S. Supreme Court to Address Permissibility of Non-Consensual Third-Party Releases in Chapter 11 Bankruptcy Plans

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As the calendar turns to autumn, the United States Supreme Court (“SCOTUS”) is commencing its new term and preparing to address a monumental issue that will impact chapter 11 law and the mass tort system: the permissibility...more

Holland & Hart LLP

Why Bankruptcy Is A Budding Alternative For Cannabis Cos.

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Bankruptcy can be a remarkable tool for rehabilitating a struggling business, preserving jobs and going-concern value, and liquidating the assets of an insolvent company. The drafters of this country's bankruptcy laws...more

Ballard Spahr LLP

Justice Department announces new guidance for handling bankruptcy discharge of federal student loans

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In conjunction with efforts to forgive federal student debt for certain borrowers, President Biden’s Justice Department recently announced new guidance for its attorneys to use when deciding whether to recommend that a...more

Fox Rothschild LLP

The Circuit City Landmine (Siegel v. Fitzgerald): Supremes Declare Bankruptcy Fee Hike Under United States Trustee Program...

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While it is becoming increasingly rare for the Supreme Court to speak with a singular voice on virtually anything these days, bankruptcy provides a rare exception. On June 6, 2022, the Supreme Court unanimously held in...more

Vinson & Elkins LLP

The Government Giveth And DOJ Taketh Away: The First Civil Settlement For Fraud In The Paycheck Protection Program

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It was only a matter of time. On January 12, 2021, the Department of Justice (“DOJ”) announced that it had reached its first civil settlement regarding allegations of fraud related to the Paycheck Protection Program (“PPP”).1...more

McGlinchey Stafford

Florida Real Property And Business Litigation Report, Volume 14, Issue 3

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City of Chicago v. Fulton, Case No. 19–357 (2021). The mere retention of estate property after the filing of a bankruptcy petition does not violate the automatic stay under 11 U.S.C. §362(a)(3) of the Bankruptcy Code. ...more

Fox Rothschild LLP

Retention Of Counsel By Trustee Is Not An Absolute Right In Some Chapter 11 Cases

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How can you be an effective trustee appointed in a chapter 11 case if you cannot retain counsel when the case first begins? Well one bankruptcy court in North Carolina explained that a trustee’s retention of counsel is not an...more

Lowenstein Sandler LLP

Avoid Claims Of Bankruptcy Fraud Amid Creditor Scrutiny

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In the weeks and months since COVID-19 effectively brought many sectors of the U.S. economy to a screeching halt, numerous major retailers, recreation and travel companies, grocery chains and restaurants have filed for...more

Skadden, Arps, Slate, Meagher & Flom LLP

Skadden's 2020 Insights

Despite political and economic uncertainties, markets and deal activity were resilient in 2019, and strong fundamentals remain in place heading into 2020. Companies continue to face a challenging litigation and enforcement...more

Dechert LLP

Do Bankruptcy Courts Have Constitutional Authority to Approve Nonconsensual, Third-Party Releases?

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Yes, says the Third Circuit. The Third Circuit recently held that the Bankruptcy Court has the authority to confirm a chapter 11 plan which contains nonconsensual, third-party releases when such releases are integral to the...more

Blank Rome LLP

Mainbrace: June 2016 (No. 3)

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As the July 1, 2016, effective date for the SOLAS Regulation VI/2 amendments quickly approaches, unanswered questions and difficulties complying with varied international and domestic implementations loom large. In an effort...more

Burr & Forman

Chapter 11 Update: New Bankruptcy Billing Guidelines Go Into Effect NOVEMBER 1

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New federal guidelines governing the review of bankruptcy attorneys' fees and expenses go into effect on November 1, 2013. These guidelines, which were approved by the Department of Justice's United States Trustee Program...more

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