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Troutman Pepper

What Is a 341 Meeting, and Do I Need to Attend? - Creditor’s Rights Toolkit

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The purpose of the 341 Meeting is to examine the debtor’s financial position and to confirm facts stated by the debtor in the bankruptcy filing. While creditors are not required to attend the 341 Meeting, creditors have an...more

King & Spalding

Fifth Circuit Determines that Raymond James Is Subject to Bankruptcy Trust Litigation and Affirmative Defenses Are Not Available

King & Spalding on

Louisiana Pellets, Inc. and German Pellets Louisiana, LLC filed for Chapter 11 bankruptcy in 2016. The bankruptcy court confirmed the debtors’ plan in 2017, which established a liquidating trust for the debtors’ remaining...more

Creditor Rights Coalition

Liability Management Whack-A-Mole

Liability management exercises and consequent objections to and redrafting around them have been compared by some commentators to a game of whack-a-mole. Just as one strategy arguably permitted by contract is accepted or...more

Amundsen Davis LLC

Forbearance Agreements: What Lenders Need to Know

Amundsen Davis LLC on

After an Event of DefaultContract occurs, it is important to understand the options available to the Lender other than demanding repayment or simply waiving the default. A Forbearance Agreement allows the Lender to preserve,...more

King & Spalding

Trustee’s Fraudulent Transfer Claims Survive Motion to Dismiss in Connection with Bernie Madoff Ponzi Scheme

King & Spalding on

On March 14, 2024, the U.S. District Court for the Southern District of New York denied a motion by Citibank, N.A. for leave to file an interlocutory appeal of a bankruptcy court’s order denying a motion to dismiss fraudulent...more

Holland & Knight LLP

Making Lemonade from Lemons: A Mortgage Lender's Guide to Successful Loan Workouts, Part 2

Holland & Knight LLP on

If you are a mortgage lender who followed the recommendations in the first article in this series, then you should have a solid grasp of your mortgage portfolio. You have identified the relevant players and their respective...more


Directors’ Duties – Two Stage Test for the Creditor Duty

Conyers on

We have published a series of articles dealing with directors’ duties in the zone of insolvency. In previous briefings, we have written about the high-profile UK Supreme Court ruling in Sequana and the New Zealand Supreme...more

Manatt, Phelps & Phillips, LLP

Steward Health Care Commences Chapter 11 Bankruptcy Cases

Steward Health Care filed Chapter 11 on Monday May 6, 2024. Steward operates over 30 hospitals across Arizona, Arkansas, Florida, Louisiana, Massachusetts, Ohio, Pennsylvania and Texas, and has more than 400 physician...more

Kerr Russell

Subchapter V Debt Limit Set to Expire in June 2024: What This Means for Small Businesses

Kerr Russell on

The Small Business Reorganization Act (SBRA), enacted in 2020, codified Subchapter V of Chapter 11 of the U.S. Bankruptcy Code. Subchapter V was enacted to provide a more efficient and affordable process for small businesses...more

Lathrop GPM

Bankruptcy Court Grants Motion of Franchisee Debtor to Reject Franchise Agreement, Concludes Noncompete and Confidentiality...

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A Michigan bankruptcy court recently granted debtor/franchisee Empower Central Michigan Inc.’s motion to reject a franchise agreement as an executory contract but found that a non-compete clause and a related confidentiality...more


The Effect of Subordination Agreements in the Event of Insolvency

Conyers on

Is it possible for a debtor company to issue debt (such as bonds) and contractually agree for that debt to rank lower in priority than debts owed by a company to other unsecured creditors? This article examines the commercial...more

Seward & Kissel LLP

Crypto Rally, Poor Stewardship, and Ash to Ash

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Collapsed FTX says it can pay most creditors back in full | CNN Business - On Tuesday, collapsed cryptocurrency exchange FTX unveiled its reorganization plan and stated it has recovered adequate funds to pay the majority...more

King & Spalding

Bankruptcy Court Determines that Dividend Payments Permitted Under Subordinated Loan Agreement Are Not Fraudulent Conveyances

King & Spalding on

On January 18, 2024, the U.S. Bankruptcy Court for District of South Carolina entered judgment, after a bench trial, in favor of minority shareholders of a debtor whose liquidating trust had sued to recover dividend payments...more

King & Spalding

Bankruptcy Court Finds Lender’s Fee Application, Seeking Double the Debtor’s Fees, Reasonable

King & Spalding on

On January 3, 2024, the U.S. Bankruptcy Court for the Western District of Texas issued an order approving, in substantial part, a contested fee application submitted by 100 E. 7th Street Lender LLC, an oversecured lender to...more

Latham & Watkins LLP

Third Circuit Finds Future Royalty Obligations From Sale Transaction Dischargeable in Bankruptcy

Latham & Watkins LLP on

The Third Circuit ruled that the obligations are prepetition “contingent and unliquidated” claims that can be discharged in a bankruptcy. In the chapter 11 bankruptcy of Mallinckrodt plc and certain subsidiaries (In re...more

Seyfarth Shaw LLP

The Corporate Transparency Act: Considerations for Special Purpose Entities in Commercial Real Estate Transactions

Seyfarth Shaw LLP on

Corporate structures in commercial real estate transactions can often be very complex and involve layers of entities. Special purpose entities that are bankruptcy remote (“SPEs”) are frequently used in commercial real estate...more

Fox Rothschild LLP

The More Things Change, The More They Stay The Same? Survival Of Small Businesses Again Dependent On Action From Congress

Fox Rothschild LLP on

Right now, a business with less than $7.5 million in debt can file an easier, cheaper, and more efficient bankruptcy than a traditional Chapter 11. That privilege will soon be limited to businesses with less than around $3...more

Hogan Lovells

Hong Kong Court of Appeal rules arbitration agreement trumps winding-up petition in insolvency

Hogan Lovells on

The Hong Kong Court of Appeal has finally laid to rest the vexed issue of whether an arbitration agreement or a winding-up petition should take precedence in an insolvency situation. In two parallel decisions, the Court of...more

Fox Rothschild LLP

Outlook Still Hazy for Cannabis Companies’ Access to Bankruptcy

Fox Rothschild LLP on

If finalized, the Drug Enforcement Administration’s (DEA) recent recommendation to reclassify cannabis from a Schedule I to a Schedule III substance has the potential to open important doors to businesses in the legal...more

Seward & Kissel LLP

Red River Rivalry and Rue the Day

Seward & Kissel LLP on

J&J Offers $6.5 Billion for Talc Lawsuits Ahead of Third Bankruptcy Filing | WSJ - Healthcare giant Johnson & Johnson has offered a settlement pool of nearly $6.5 billion to resolve tens of thousands of talc-related...more

Troutman Pepper

Can I Enhance My Prospects for Payment Through a Purchase Money Security Interest? - Creditor’s Rights Toolkit

Troutman Pepper on

A seller of goods may gain priority over other creditors, and enhanced prospects for payment, by taking and perfecting a purchase money security interest (PMSI) in the goods sold to a customer. This article will explain what...more

Miller Nash LLP

Winding Down & Bankruptcy Options for Nonprofit Entities

Miller Nash LLP on

Nonprofit entities play an ever-growing role in our society, including assisting people in need to building communities, from protecting animals to aiding our environment, and attending to the physical, mental, and spiritual...more

Patterson Belknap Webb & Tyler LLP

Bankruptcy Court Orders Civil Confinement Over Discovery Dispute

At a hearing in mid-March, the Delaware bankruptcy court held Camshaft Capital Fund, LP, Camshaft Capital Advisors, LLC, Camshaft Capital Management (collectively, “Camshaft”) and William Cameron Morton, principal of...more

Latham & Watkins LLP

UK Jurisdiction Taskforce Concludes Digital Assets Compatible With English Insolvency Law

Latham & Watkins LLP on

The Legal Statement applies areas of insolvency law to digital assets, providing valuable guidance on the approach English courts will take. In October 2023, the UK’s Jurisdiction Taskforce (UKJT), which is made up of...more

Levenfeld Pearlstein, LLC

Congress Considers Another Extension to the Subchapter V $7.5 Million Debt Limit

On February 19, 2020, Congress enacted the Small Business Reorganization Act (“SBRA”) to, among other things, streamline the chapter 11 bankruptcy process for a small business by creating subchapter V of the Bankruptcy Code....more

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JD Supra Privacy Policy

Updated: Dec 28, 2021:

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Information for EU and Swiss Residents

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Privacy Officer
JD Supra, LLC
150 Harbor Drive, #2760
Sausalito, CA 94965

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California Privacy Rights

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Privacy Officer
JD Supra, LLC
150 Harbor Drive, #2760
Sausalito, CA 94965

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Changes in Our Privacy Policy

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Updates to This Policy

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Contacting JD Supra

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