News & Analysis as of September 19, 2024

Commercial Bankruptcy

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99 Problems, Putting in Work, Sacramento Bee, Same Sad Story, and Unappealing Prospects

Seward & Kissel LLP on 4/15/2024

Retailer 99 Cents Only Files for Bankruptcy, Plans to Shut Down | Reuters - Budget retailer 99 Cents Only filed for Chapter 11 bankruptcy protection in Wilmington, Delaware, and stated that it plans to shut down all of its...more

Fresh Air and Fresh Start: Are Environmental Regulatory Penalties Dischargeable?

Dechert LLP on 5/15/2020

Two courts recently answered “yes,” finding that environmental claims brought against reorganized debtors by government entities were discharged under confirmed Chapter 11 plans of reorganization. In In re Exide Techs., 613...more

Regulatory Fines Dischargeable in Bankruptcy

Perkins Coie on 4/21/2020

Debtors facing regulatory fines and penalties want to shed them in bankruptcy and emerge without paying them. With certain exceptions, the Bankruptcy Code provides for the discharge of most debts that arise before a plan is...more

Second Circuit Confirms Physical Suppliers Don't Have Maritime Liens - Bank's Liens Still in Dispute in O.W. Bunker Case

Holland & Knight LLP on 6/21/2018

• In the legal battle of competing maritime lien claims against vessels whose charterers contracted with O.W. Bunker & Trading A/S or its affiliates in October-November 2014, an important decision was issued this week by the...more

Millennium Lab Part II: Delaware Bankruptcy Court Dispels Shadow Over Non-Consensual Third-Party Releases (For Now)

Dechert LLP on 10/25/2017

In trotting a path out of Chapter 11, debtors in most cases will need to engage various key stakeholders, some of whom are not entitled to a distribution in the bankruptcy. As a form of remuneration, non-debtors may insist on...more

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