In a landmark 5-4 decision in Harrington v. Purdue Pharma that will significantly reshape corporate bankruptcy practice, the U.S. Supreme Court resolved a circuit split regarding the authority of a bankruptcy court to approve...more
7/1/2024
/ Appeals ,
Asbestos Litigation ,
Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Commercial Bankruptcy ,
Harrington v Purdue Pharma L P ,
Mass Tort Litigation ,
Non-Consensual Rights ,
Non-Debtors ,
Opioid ,
Purdue Pharma ,
SCOTUS ,
Third-Party
Early Friday morning, March 17, 2023, SVB Financial, the former holding company of SVB, filed a voluntary Chapter 11 bankruptcy petition in the United States Bankruptcy Court for the Southern District of New York, citing the...more
3/21/2023
/ Bank Holding Company ,
Bankruptcy Code ,
Bankruptcy Court ,
Banks ,
Bridge Banks ,
Broker-Dealer ,
Chapter 11 ,
Commercial Bankruptcy ,
Debtors ,
Financial Institutions ,
Popular ,
Subsidiaries ,
Venture Capital
Philip J. Gross from Lowenstein’s Bankruptcy & Restructuring Department discusses two recent bankruptcy decisions that underscore the critical nature of bankruptcy dates and deadlines, and the dire consequences to creditors...more
The issue of venue reform has been debated for many years and is again being revisited in light of the expected surge in bankruptcy cases in the wake of the COVID-19 pandemic and certain recent large Chapter 11 filings,...more
Recently, a materially revised Chapter 11 restructuring plan of reorganization was negotiated, in part, by a purportedly independent special committee of the board of Purdue Pharma LP.
Originally published in Law360 July...more
Much has been written on the myriad of legal issues emanating from the global COVID-19 pandemic: the constitutionality of the lockdowns, liability for stores that open, the process of obtaining PPP loans, and the...more
6/22/2020
/ Bankruptcy Code ,
CARES Act ,
Chapter 11 ,
Coronavirus/COVID-19 ,
License Agreements ,
Non-Debtors ,
Patents ,
Paycheck Protection Program (PPP) ,
Section 365 ,
Securities and Exchange Commission (SEC) ,
Source Code ,
Trademarks
Periods of uncertainty and distress create many questions that businesses must answer. Will they have the human resources and materials with which to produce goods and perform services for your customers? Will their customers...more
A bankruptcy trust for creditors (including former workers and trade vendors) who lost significant sums of money in the Toys “R” Us Inc. (TRU) bankruptcy sued former Chief Executive Officer David Brandon, several other...more