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
As many in the trade are well aware, Chapter 11 debtors frequently seek bankruptcy court approval to pay the prepetition claims of vendors the debtor has deemed critical to the continued operation of its business and success...more
Nothing is more frustrating to a trade creditor holding a large unpaid balance owed by a debtor in bankruptcy than the risk that payments the trade creditor received before the debtor filed bankruptcy may be clawed back by...more
6/1/2021
/ Administrative Expenses ,
Bankruptcy Code ,
Burden of Proof ,
Chapter 11 ,
Chapter 7 ,
Commercial Bankruptcy ,
Consolidated Appropriations Act (CAA) ,
Coronavirus/COVID-19 ,
Creditors ,
Debtors ,
Financial Distress ,
Financial Solvency ,
Liquidation ,
New Value Exception ,
Ordinary Course of Business Defense ,
Perishable Agricultural Commodities Act (PACA) ,
SBA ,
Trade Credit ,
Transfers ,
Trustees ,
Vendors
Financially distressed debtors frequently use Chapter 11 to sell their businesses and assets in one or more transactions, primarily in order to pay down secured debt obligations owed to one or more lenders. In the best case,...more
In this Client Alert series, Lowenstein’s Bankruptcy, Financial Reorganization & Creditors’ Rights Department will introduce the various restructuring tools available to help businesses avoid financial catastrophe in the...more