Should a claim for appraisal rights brought by a former shareholder of a Chapter 11 debtor be subordinated under Section 510(b) of the Bankruptcy Code? According to the Bankruptcy Court for the District of Delaware, the...more
In a recent decision on motions for summary judgement in the TransCare case, the SDNY bankruptcy court addressed the test for the imposition of liability under the US and New York Worker Adjustment and Retraining Notification...more
5/22/2020
/ Chapter 11 ,
Chapter 7 ,
Commercial Bankruptcy ,
Common Ownership ,
Corporate Restructuring ,
Debtors ,
Economic Realities Test ,
Financial Distress ,
Layoffs ,
Motion for Summary Judgment ,
Private Equity Funds ,
Single Employer Liability Test ,
Unpaid Wages ,
WARN Act
Two courts recently answered “yes,” finding that environmental claims brought against reorganized debtors by government entities were discharged under confirmed Chapter 11 plans of reorganization. In In re Exide Techs., 613...more
5/15/2020
/ Air Pollution ,
Appeals ,
Bankruptcy Code ,
Bankruptcy Discharge Order ,
Batteries ,
Carve Out Provisions ,
Chapter 11 ,
Civil Monetary Penalty ,
Coal Industry ,
Commercial Bankruptcy ,
Common Law Claims ,
Corporate Restructuring ,
Debtors ,
Dischargeable Debts ,
Enforcement Actions ,
Environmental Violations ,
Fines ,
Fraud ,
Global Warming ,
Municipalities ,
Permanent Injunctions ,
Police Power ,
Proof of Claims ,
Public Nuisance ,
Recycling ,
State Regulators ,
Strict Liability
Section 546(e) of the Bankruptcy Code excepts certain transfers made to certain protected parties, under or in respect of securities contracts, from avoidance as preferences or constructively fraudulent transfers. A recent...more
As has been widely reported, over the last several years Takata Corporation and its various worldwide subsidiaries (together “Takata”) have been involved in a multitude of governmental investigations, class actions and...more
2/1/2018
/ Automobile Recall ,
Bankruptcy Code ,
Chapter 11 ,
Chapter 15 ,
Class Action ,
Constitutional Challenges ,
Corporate Restructuring ,
Creditors ,
Debtors ,
Due Process ,
Foreign Bankruptcies ,
Japan ,
Multi-Jurisdictional Litigation ,
Multidistrict Litigation ,
Proof of Claims ,
Public Policy ,
Takata
The Bankruptcy Court of the Southern District of New York recently addressed objections to the recognition of a Russian bankruptcy case as a foreign main case under Chapter 15 of the U.S. Bankruptcy Code and to the...more
10/16/2017
/ Acquisitions ,
Chapter 15 ,
Commercial Bankruptcy ,
Conflicts of Interest ,
Corporate Restructuring ,
Creditors ,
Foreign Bankruptcies ,
Foreign Judgments ,
Insolvency ,
Legal Representatives ,
Personal Finances ,
Public Policy ,
Russia
In a 2-1 opinion, the Second Circuit overruled the district court in Marblegate Asset Management LLC v. Education Management Corp., finding no violation of the Trust Indenture Act (“TIA”) in connection with an out-of-court...more
1/28/2017
/ Appeals ,
Bonds ,
Commercial Bankruptcy ,
Corporate Restructuring ,
Creditors ,
Debt Restructuring ,
Fraudulent Conveyance ,
Lenders ,
Payment Terms ,
Section 316(b) ,
Secured Notes ,
Senior Indenture ,
Trust Indenture Act ,
Vacated