Section 546(e) of the Bankruptcy Code’s “safe harbor” preventing avoidance in bankruptcy of certain securities, commodity, or forward-contract payments has long been a magnet for controversy. Several noteworthy court rulings...more
10/3/2023
/ Article III ,
Bankruptcy Code ,
Chapter 11 ,
Chapter 7 ,
Commercial Bankruptcy ,
Corporate Restructuring ,
Fraudulent Transfers ,
Safe Harbors ,
Securities Contracts ,
Sovereign Immunity ,
Standing
On October 14, 2022, the U.S. Court of Appeals for the Fifth Circuit issued a long-awaited ruling on whether Ultra Petroleum Corp. (“UPC”) must pay a $201 million make-whole premium to noteholders under its confirmed chapter...more
New York Bankruptcy Court Rules That Good Faith Is Not The Gatekeeper To Chapter 15 -
Despite the absence of any explicit directive in the Bankruptcy Code, it is well understood that a debtor must file a chapter 11...more
11/10/2021
/ Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Chapter 15 ,
Chapter 7 ,
Commercial Bankruptcy ,
Corporate Restructuring ,
Creditors ,
Debtors ,
Good Faith ,
Insolvency ,
Leveraged Buyout
In This Issue:
First Impressions: Third Circuit Scuttles Triangular Setoff in Bankruptcy -
In In re Orexigen Therapeutics, Inc., 990 F.3d 748 (3d Cir. 2021), the U.S. Court of Appeals for the Third Circuit ruled as a...more
5/27/2021
/ Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Chapter 7 ,
Commercial Bankruptcy ,
Corporate Restructuring ,
Debt Restructuring ,
Leveraged Buyout ,
Mootness ,
Mutuality ,
Safe Harbors
In This Issue:
Tenant's Election to Retain Possession of Rejected Lease Premises Preserves Obligations Under Related Agreements -
Section 365(h) of the Bankruptcy Code provides special protection for tenants if a...more
One year ago, we wrote that the large business bankruptcy landscape in 2019 was generally shaped by economic, market, and leverage factors, with notable exceptions for disastrous wildfires, liabilities arising from the opioid...more
In This Issue:
Eighth Circuit Rules that Bankruptcy Code's Cap on Lease Damage Claims Applies to Fraudulent Transfer Judgment -
In Lariat Cos. v. Wigley (In re Wigley), 951 F.3d 967 (8th Cir. 2020), the U.S. Court of...more
9/1/2020
/ Bankruptcy Plans ,
Commercial Bankruptcy ,
Consumer Bankruptcy ,
Corporate Restructuring ,
Creditors ,
Debtors ,
Force Majeure Clause ,
Reorganizations ,
Safe Harbors ,
Securities Transactions ,
Successor Liability