A Second Circuit U.S. Court of Appeals decision refused an attempt to expand the scope of an insurance policy’s arbitration provision, creating the need for extra caution when interpreting policies.
In Ehrenberg v. Allied...more
4/30/2025
/ Appeals ,
Arbitration ,
Bankruptcy Court ,
Chapter 11 ,
Commercial Bankruptcy ,
Contract Terms ,
D&O Insurance ,
Insurance Claims ,
Insurance Litigation ,
Policy Terms ,
Trustees
In one of the most publicized terms for the U.S. Supreme Court, one June decision has not received the attention it deserves: Truck Insurance Exchange v. Kaiser Gypsum Company Inc. Truck upends decades of Chapter 11...more
10/30/2024
/ Asbestos ,
Bankruptcy Trustees ,
Chapter 11 ,
Commercial Bankruptcy ,
Creditors ,
Debtors ,
Insurance Claims ,
Real Party in Interest ,
Reorganizations ,
SCOTUS ,
Truck Insurance Exchange v Kaiser Gypsum Co Inc
When a business leases commercial space, it is common practice for the landlord to request that the company provide a personal guaranty, a protective measure taken to ensure landlords have recourse against a commercial lessee...more
Please join us as we discuss the intricacies of the creditor-borrower relationship and best practices to ensure a successful and profitable lending partnership....more
On June 7, 2024, Bernard Condon, an Associated Press reporter, authored the article, “Zombies: Ranks of world’s most debt-hobbled companies are soaring, and not all will survive.” Condon’s article details zombie companies...more
On June 27, 2024, the U.S. Supreme Court blocked a $6 billion bankruptcy settlement in Harrington v. Purdue Pharma L. P., No. 23-124, 2024 WL 3187799, at *11 (U.S. June 27, 2024). The Court found that the Bankruptcy Code does...more
The U.S. Supreme Court on June 6, 2024, held that an insurer with a financial responsibility for bankruptcy claims is a party in interest and has standing to raise and be heard on issues in a Chapter 11 proceeding. In Truck...more
Recently, a bankruptcy judge denied a request by a creditors’ committee to sue the insurers of the Roman Catholic Diocese of Rockville Centre (the “Debtor”).
The judge found that the Official Committee of Unsecured...more
Earlier this year, the Supreme Court issued a decision that all business owners should be aware of. The Supreme Court resolved a Circuit split over whether a debtor can discharge a debt incurred by a fraud committed by the...more
For some time, bankruptcy courts wrestled over whether creditors violated the Bankruptcy Code’s automatic stay provision under 11 U.S.C. § 362(a)(3) by creditors’ passive retention of a debtor’s property once a debtor files...more
Due to the COVID-19 pandemic and resulting economic shutdown, we have counseled our clients about how they can protect their rights as creditors once the economy begins to ramp up again. We have also advised them on how to...more
The Coronavirus Aid, Relief, and Economic Security Act(CARES Act), signed by President Trump on March 27, 2020, contains key changes to the Bankruptcy Code. The CARES Act and the previously enacted Small Business...more
The CARES Act, signed into law on March 27, 2020, contains a component that will quickly provide businesses with loans to compensate for lost revenues due to COVID-19....more
On March 21, 2020, Governor Cuomo issued Executive Order 202.9, which is in effect through April 20, 2020. The order provides financial relief to consumers and businesses with outstanding bank loans....more
In this time of extreme uncertainty, an unfortunate reality is that many businesses are wondering whether they will be able to survive an indefinite economic downturn. Virtually every industry is facing the prospect of weeks...more