In In re Serta Simmons Bedding, LLC, 125 F.4th 555 (5th Cir. 2024), as amended, No. 23-20281 (5th Cir. Jan. 21, 2025), revised and superseded, No. 23-20181 (5th Cir. Feb. 14, 2025), reh'g denied, No. 23-20181 (5th Cir. Feb....more
3/31/2025
/ Appeals ,
Bankruptcy Code ,
Bankruptcy Court ,
Breach of Contract ,
Chapter 11 ,
Commercial Bankruptcy ,
Credit Agreements ,
Creditors ,
Equitable Mootness ,
Indemnification ,
Lenders ,
Loans
Late last year, the U.S. Court of Appeals for the Fifth Circuit and the Appellate Division of the Supreme Court of the State of New York issued important rulings regarding the validity of uptier “liability management...more
3/27/2025
/ Appeals ,
Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Commercial Bankruptcy ,
Contract Terms ,
Debt ,
Financial Transactions ,
Lenders ,
Liability ,
New York
The Year in Bankruptcy: 2024 -
A brief chronicle of the year's notable developments in corporate bankruptcy and restructuring, including business bankruptcy filings, significant court rulings, and legislative...more
2/4/2025
/ Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Chapter 15 ,
Commercial Bankruptcy ,
Corporate Restructuring ,
Creditors ,
Debt Restructuring ,
Debtors ,
Insolvency ,
Restructuring
The expansion of global commerce in recent years has been accompanied by a significant increase in the volume of cross-border bankruptcy cases. Many of those cases involve "recognition" of foreign bankruptcy or insolvency...more
2/3/2025
/ Asset Freeze ,
Bankruptcy Code ,
Bankruptcy Court ,
Chapter 15 ,
Comity ,
Commercial Bankruptcy ,
Corporate Veil ,
Foreign Bankruptcies ,
Insolvency ,
Jurisdiction ,
Public Policy ,
Reorganizations
The U.S. Supreme Court handed down three bankruptcy rulings to finish the current Term. The decisions address the validity of nonconsensual third-party releases in chapter 11 plans, the standing of insurance companies to...more
8/6/2024
/ Bankruptcy Code ,
Bankruptcy Court ,
Bankruptcy Trustees ,
Chapter 11 ,
Chapter 7 ,
Commercial Bankruptcy ,
Creditors ,
Debt Restructuring ,
Debtors ,
Trustees ,
U.S. Treasury
Courts disagree over whether a foreign bankruptcy case can be recognized under chapter 15 of the Bankruptcy Code if the foreign debtor does not reside or have assets or a place of business in the United States. In 2013, the...more
In In re Pack Liquidating, LLC, 2024 WL 409830 (Bankr. D. Del. Feb. 2, 2024), the U.S. Bankruptcy Court for the District of Delaware ruled that, in accordance with Third Circuit precedent, the Bankruptcy Code, rather than...more
6/6/2024
/ Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Chapter 13 ,
Chapter 15 ,
Chapter 7 ,
Commercial Bankruptcy ,
Consumer Bankruptcy ,
Corporate Restructuring ,
Creditors ,
Debtors ,
Debtors-in-Possession ,
Estate Claims ,
FDIC ,
Mootness
The Bankruptcy Code bars certain individuals or entities from filing for bankruptcy protection, generally because they do not reside or have a place of business or property in the United States, fail to satisfy certain debt...more
6/5/2024
/ Bankruptcy Code ,
Bankruptcy Court ,
Cayman Islands ,
Chapter 11 ,
Chapter 13 ,
Chapter 15 ,
Chapter 7 ,
Chapter 9 ,
Commercial Bankruptcy ,
Debtors ,
FDIC ,
Foreign Bankruptcies ,
Foreign Banks ,
International Banks ,
Liquidation ,
Silicon Valley