US courts are issuing guidelines to ensure litigators disclose any use of generative AI in legal proceedings.
By now, most of us have heard a story about the misuse of generative AI in the practice of law: the attorney...more
A bankruptcy sale is an opportunity to potentially acquire assets at distressed pricing. A bankruptcy sale also presents prospective bidders with a level playing field to conduct due diligence, submit a bid, and compete...more
5/22/2024
/ 363 Sales ,
Acquisitions ,
Assignments ,
Assumption of the Risk ,
Auction ,
Bankruptcy Code ,
Bids ,
Business Assets ,
Commercial Bankruptcy ,
Competitive Bidding ,
Debtors ,
Executory Contracts ,
Regulatory Requirements ,
Sale of Assets ,
Section 363
Companies continue to face economic uncertainty caused by a variety of factors such as high interest rates, changing consumer spending habits, a tight debt and equity environment, labor market and inflationary pressures,...more
1/29/2024
/ Commercial Loans ,
Corporate Restructuring ,
Credit Facilities ,
Debt Restructuring ,
Default ,
Disclosure Requirements ,
Financial Distress ,
Liquidity ,
Publicly-Traded Companies ,
Refinancing ,
Strategic Planning
Companies forced to wind down operations and liquidate their assets often choose a liquidation process known as an ABC (Assignment for the Benefit of Creditors). An ABC is usually more streamlined, requires fewer public...more
Companies are pouring capital into the metaverse, often on expectations of outsized future returns. Investment in the metaverse more than doubled in 2022, and industry experts have projected that the metaverse could generate...more
This alert highlights a recent decision by Judge Michael E. Wiles in the Bankruptcy Court for the Southern District of New York (“SDNY”), which held that lease rejection damages should be calculated using the “time approach”...more
In a decision of first impression regarding whether certain digital assets are property of a bankrupt debtor’s estate (attached here), Chief Judge Martin Glenn of the United States Bankruptcy Court for the Southern District...more
A recent U.S. District Court for the District of Delaware opinion, In re TPC Grp. Inc., provided another instance of an uptiering transaction withstanding legal scrutiny and provides further support for the view that courts...more
8/17/2022
/ Appeals ,
Bankruptcy Court ,
Chapter 11 ,
Commercial Bankruptcy ,
Commercial Loans ,
Contract Terms ,
Debt Instruments ,
Legal Opinion ,
Lenders ,
Liens ,
Noteholders ,
Priority Debt ,
Senior Secured Debt ,
Waterfall Provision
Top 10 Questions About Subchapter V Reorganization -
Reorganization under Chapter 11 of the Bankruptcy Code offers powers and benefits that are simply not available in out-of-court restructurings. Chapter 11...more
4/28/2021
/ Bankruptcy Code ,
Chapter 11 ,
Commercial Bankruptcy ,
Coronavirus/COVID-19 ,
Creditors ,
Debt Restructuring ,
Debtors ,
Early Stage Companies ,
Emerging Growth Companies ,
Relief Measures ,
Reorganizations ,
Small Business ,
Small Business Reorganization Act of 2019 (SBRA) ,
Startups ,
Trustees
Board Decision Making in a Down Cycle -
The last several months have been unprecedented in terms of how quickly and drastically business environments have changed. With widespread uncertainty and financial distress...more
8/26/2020
/ Board of Directors ,
Coronavirus/COVID-19 ,
Corporate Governance ,
Corporate Restructuring ,
D&O Insurance ,
Duties & Responsibilities ,
Financial Distress ,
Independent Directors ,
Liquidity ,
Personal Liability ,
Special Committees
On November 17, 2016, in Delaware Trust Co. v. Energy Future Intermediate Holding Company LLC (In re Energy Future Holdings Corp.), Case No. 16-1351 (3d Cir. Nov. 17, 2016), the United States Court of Appeals for the Third...more
Recognition of a foreign main proceeding under Chapter 15 of the Bankruptcy Code has “effects” under Section 1520 that are automatic and powerful, including application of the automatic stay of Section 362 and the...more
In Krys v. Farnum Place, the Second Circuit ruled that, in a Chapter 15 ancillary proceeding, a SIPA claim is within the territorial jurisdiction of the United States and its sale by the Foreign Representative must be...more