Administrative deadlines in mass tort settlements are enforceable and binding—courts will uphold them even when millions of dollars are at stake and international claimants are involved.
Electronic notification through...more
The California decision reinforces a strict approach to assumption of franchise agreements, underscoring potential roadblocks for franchisee reorganizations.
Even where a debtor is not assigning a franchise agreement,...more
12/11/2024
/ Bankruptcy Code ,
Bankruptcy Court ,
California ,
Commercial Bankruptcy ,
Consent ,
Corporate Counsel ,
Franchise Agreements ,
Franchisee ,
Franchisors ,
Intellectual Property Protection ,
Lanham Act ,
Reorganizations ,
Trademarks
The Ninth Circuit Bankruptcy Appellate Panel held that the Social Security Administration’s withholding of post-petition benefits to satisfy the debtor’s prepetition obligation to repay overpayments qualifies as recoupment...more
4/3/2024
/ Bankruptcy Appellate Panel (BAP) ,
Chapter 7 ,
Debtors ,
Injunctions ,
Pensions ,
Recoupment ,
Social Security Act ,
Social Security Administration (SSA) ,
SSDI ,
Workers’ Compensation ,
Workplace Injury
Legislative responses to recent banking industry failures could include reinstating various rules that formerly applied to banks with more than $100 billion in assets.
There are a variety of measures which bank depositors...more
4/17/2023
/ Bank Notes ,
Banking Crisis ,
Banking Sector ,
Depository Institutions ,
FDIC ,
Federal Reserve ,
Financial Institutions ,
Investment ,
Popular ,
Securities ,
U.S. Treasury
New York bankruptcy court breaks with precedent and endorses time approach for calculating lease termination damages over rent amount approach, resulting in smaller claims for landlords.
Time approach limits, and often...more
Prospective buyers should prepare to take advantage of opportunities to acquire distressed businesses, as we are likely to see an uptick in distressed M&A soon.
Prospective buyers seeking first-mover advantages should act...more
10/21/2022
/ Acquisitions ,
Anti-Assignment Clauses ,
Bankruptcy Code ,
Bankruptcy Court ,
Corporate Bonds ,
Debt Restructuring ,
Distressed Debt ,
Due Diligence ,
Foreclosure ,
Fraudulent Transfers ,
Hart-Scott-Rodino Act ,
Healthcare ,
Liquidity ,
Mergers ,
Retailers ,
Software ,
Stock Markets ,
Telecommunications
The Ninth Circuit became the first circuit-level court to address the correct rate of interest for unimpaired, unsecured creditors of a solvent chapter 11 debtor.
The Ninth Circuit held that the common law “solvent debtor...more
An Eleventh Circuit Court of Appeals’ decision permits a creditor both to be paid in full under Bankruptcy Code section 503(b)(9) for goods delivered within 20 days before commencement of a bankruptcy case, and to use the...more
A decision by the Third Circuit Court of Appeals serves as a stark reminder that the sale (assignment) of a contract in bankruptcy does not always require full payment of the non-debtor counterparty’s claim.
Debtors must...more
Recent Delaware cases have clarified that minority stockholders merely rolling over shares alongside an independent and unrelated controlling stockholder do not form a control group in most cases—the controlling stockholder...more
The Coronavirus Aid, Relief and Economic Security (CARES) Act temporarily expands eligibility for “small businesses” to reorganize under chapter 11 over creditor objection under a new law that streamlines chapter 11...more
TAKEAWAYS -
A transfer of control of a borrower or its business to non-U.S. lenders who exercise remedies under financing documents could trigger CFIUS issues.
CFIUS regulations adopted in February 2020 dramatically...more
New York orders extraordinary measures requiring financial institutions to meet financial needs of and ameliorate the challenges being faced by customers affected by COVID-19.
New York State has implemented extraordinary...more
New York orders extraordinary measures requiring financial institutions to meet financial needs of and ameliorate the challenges being faced by customers affected by COVID-19.
- New York State has implemented...more
Dedication language is critical in determining whether a gathering agreement creates a covenant running with the land.
Midstream companies now have a roadmap for ensuring that a debtor remains subject to a midstream...more
Citing duty to obey the board’s lawful instructions, the Seventh Circuit rejects breach of fiduciary duty claims under Indiana law against bankrupt bank holding company’s former officers.
Corporate officers of a distressed...more
9/21/2018
/ Board of Directors ,
Breach of Duty ,
Chapter 7 ,
Commercial Bankruptcy ,
Corporate Officers ,
Disclosure Requirements ,
Fiduciary Duty ,
Financial Institutions ,
Reporting Requirements ,
Subsidiaries ,
Written Agreements
[The Court’s] determination reflects the healthcare world as it is, and not as the FTC wishes it to be. We find it no small irony that the same federal government under which the FTC operates has created a climate that...more
Bad news for midstream counterparties of bankrupt oil & gas producers: you may not be able to rely (as much as you might have expected) on covenants “running with the land” to save your contracts from rejection in...more
Working with distressed businesses always presents a wide array of challenges. Solving a distressed company’s problems, or your problems with it, rarely is limited to a single legal discipline, set of laws or state or federal...more
This article explores some current health care financing trends and speculates on what they may portend for work in a health care restructuring professional’s “pipeline.” While there are many kinds of health care enterprises...more