On September 10, 2024, the U.S. Court of Appeals for the Third Circuit held in In re The Hertz Corporation that unsecured creditors of a solvent debtor are entitled to receive the contractual rate of interest, rather than...more
Three years have passed since the COVID-19 pandemic reached the United States and its effects are still being felt today. Even though lockdown measures have largely disappeared and many workers have returned to the office,...more
8/17/2023
/ Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Commercial Bankruptcy ,
Creditors ,
Debtors ,
Executory Contracts ,
Financial Distress ,
Office Space ,
Remote Working ,
Restructuring ,
Section 365
In a ruling issued just yesterday, MOAC Mall Holdings LLC v. Transform Holdco LLC et al., 598 U.S. ----, 2023 WL 2992693 (2023) (“MOAC”), the United States Supreme Court (the “Supreme Court”) held that Bankruptcy Code section...more
4/21/2023
/ 363 Sales ,
Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Commercial Bankruptcy ,
Debtors ,
Jurisdiction ,
MOAC Mall Holdings LLC v Transform Holdco LLC ,
Mootness ,
Sale of Assets ,
SCOTUS ,
Sears ,
Section 363
On April 13, 2022, the Court of Appeals for the Third Circuit ruled in CoFund II LLC v. Hitachi Capital America Corp. that a junior creditor breached a turnover provision in an intercreditor agreement when it applied a senior...more
On December 22, 2021, Judge Mary Walrath of the Bankruptcy Court for the District of Delaware held in In re The Hertz Corp. that redemption premiums may potentially qualify as unmatured interest, and that, to the extent that...more
1/14/2022
/ Bankruptcy Court ,
Chapter 11 ,
Commercial Bankruptcy ,
Creditors ,
Debtors ,
Hertz ,
Liquidation ,
Motion to Dismiss ,
Post-Petition Interest ,
Premiums ,
Reorganizations ,
Unsecured Debt ,
Wells Fargo
On July 24, 2013, Judge Steven W. Rhodes of the Bankruptcy Court for the Eastern District of Michigan approved the City of Detroit’s motion to extend the automatic stay to various non-debtor parties, including certain state...more