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Read Bankruptcy Law updates, alerts, news, and legal analysis from leading lawyers and law firms:

Everyone Has Rejection Issues

by Bryan Cave on

In the typical day-to-day experience in bankruptcy proceedings, the debtor’s ability to assume or reject executory contracts and leases under Section 365 of the Bankruptcy Code is seen from the sometimes-unfortunate...more

Court Decision Reviews Key Concepts Concerning Executory Contracts

This post reviews some concepts concerning executory contracts. The ground covered will be familiar to insolvency experts and should be insightful for readers who don’t specialize in U.S. bankruptcy law. The springboard...more

Green Hands Aren’t Unclean Hands: 9th Circuit BAP Retreats from Mandatory Dismissal in Marijuana Cases

by Burns & Levinson LLP on

A 92-year-old landlord who leased a storefront to a marijuana dispensary will receive a new hearing after a court dismissed her bankruptcy case on the grounds that acceptance of rent payments from the dispensary disqualified...more

Bankruptcy Remoteness Going to a Court of Appeals (Progress Report No. 1)

Our February 22 post reported that the Franchise Services of North America, Inc. decision of Bankruptcy Judge Edward Ellington of the Southern District of Mississippi dismissing a Chapter 11 petition because a holder of...more

Lehman RMBS Settlement Likely to Spur Additional Claims

by Bilzin Sumberg on

On March 8, the Bankruptcy Court for the Southern District of New York concluded a lengthy “claims estimation” trial to determine the appropriate final settlement price for a resolution of lawsuits filed on behalf of...more

Retail Industry News: Australia introduces insolvency reforms which limit contract rights to terminate for insolvency

by Dentons on

Under reforms commencing in July 2018, Australia will have new insolvency laws which will limit the exercise of contract rights to terminate for insolvency. Partners David McIntosh and Robyn Chatwood, explain how these...more

Supreme Court Narrows Applicability of Bankruptcy Code's Safe Harbor for Securities-Related Transfers

by Pepper Hamilton LLP on

In a case that could have significant, long-term ramifications for the holders of stock and other securities, the U.S. Supreme Court vastly limited the scope of a Bankruptcy Code “safe harbor” that shields certain transfers...more

Supreme Court Limits Safe Harbor Defense in Bankruptcy "Clawback" Suits

Recently, the United States Supreme Court decided Merit Management Group, LP v. FTI Consulting, Inc., a decision that has potentially far-reaching implications for a broad range of business transactions, particularly...more

High Court Faced with the Issue of Marijuana Legalization in Bankruptcy

It was only a matter of time before the budding state laws legalizing marijuana use ran up against the federal government’s treatment of the drug as a controlled substance – and what better place for the two sides to meet...more

Data in the cloud: What if the cloud provider goes bankrupt?

by Thompson Coburn LLP on

With data being the new “coin of the realm,” those who control and exploit data have a winning advantage over competitors. This piece focuses on control of data in the unique situation of a cloud hosting provider’s...more

Delaware Bankruptcy Court Rejects “Implied Assumption” of Executory Contracts As Part of Asset Sale

The Delaware Bankruptcy Court recently held, in Stanley Jacobs Prod., Ltd. v. 9472541 Can. Inc. (In re Thane Int'l, Inc.), No. 17-50476 (KG), 2018 Bankr. LEXIS 464 (Bankr. D. Del. Feb. 21, 2018), that a debtor must file a...more

High Court Tightens Section 546(e) Safe Harbor for Securities Transaction Payments

by Jones Day on

The U.S. Supreme Court issued a highly anticipated ruling resolving a long-standing circuit split over the scope of the Bankruptcy Code's "safe harbor" provision exempting certain securities transaction payments from...more

Supreme Court Clarifies Securities Safe Harbor Under Bankruptcy Code

by Holland & Knight LLP on

• In a unanimous decision, the U.S. Supreme Court ruled against the petitioner in Merit Management Group, LP, Petitioner v. FTI Consulting, Inc., affirming the decision of the U.S. Court of Appeals for the Seventh Circuit. ...more

The Supreme Court - March 5, 2018

by Dorsey & Whitney LLP on

The Supreme Court of the United States issued two decisions today: U.S. Bank N.A. v. Village at Lakeridge L.L.C., No. 15-1509: Respondent Lakeridge filed for Chapter 11 bankruptcy, and sought approval of a “cramdown” plan...more

Protecting Your Supply Chain in the Face of Potential Auto Industry Challenges in 2018

by Foley & Lardner LLP on

As the economy has improved and unemployment has fallen in the nearly 10 years since the Great Recession, North American vehicle sales volumes have also steadily increased and the forecast remains strong for 2018. Bloomberg...more

“Clearing & Settlement” Exception to Trustee’s Avoiding Powers Saves Only Payments “To” (not “Through”) Market Intermediaries

by Burr & Forman on

Last week, the unanimous Supreme Court clarified that the “clearing and settlement” exception to a bankruptcy trustee’s avoiding powers covers only payments “to,” not merely through, financial market participants....more

Supreme Court Holds That Use of Financial Institutions as Conduits Will Not Insulate a Transaction From Avoidance Actions

by Reed Smith on

On February 27, 2018, the Supreme Court of the United States issued a unanimous decision delivered by Justice Sotomayor holding that a party otherwise subject to an avoidance action under the Bankruptcy Code is not shielded...more

Resolving Circuit Split, US Supreme Court Holds Section 546(e) Safe Harbor Applies Only to Protected Parties

by Dechert LLP on

The Bankruptcy Code allows trustees, as well as debtors-in-possession and in some circumstances creditors’ committees, to set aside and recover certain transfers for the benefit of the bankruptcy estate. The purpose of the...more

Supreme Court Scales Back Safe Harbor Protection for Some Pre-Bankruptcy Fraudulent Transfers

by Ballard Spahr LLP on

Title 11 of the U.S. Bankruptcy Code contains provisions that allow some pre-bankruptcy transfers to be avoided, or "unwound," by a debtor in possession, trustee, or other party granted standing to do so. ...more

Something Amazing - A Unanimous Opinion by the United States Supreme Court in a Bankruptcy Case, Affirming and Remanding to the...

by Tucker Arensberg, P.C. on

Once in a while, a Supreme Court opinion crosses my desk that I cannot ignore. Such was the case today. The United States Supreme Court issued its opinion in MERIT MANAGEMENT GROUP, LP v. FTI CONSULTING, INC., a unanimous...more

Supreme Court Issues Decision on Section 546(e) Safe Harbor Provision Resolving Long-Standing Circuit Split

On February 27, 2018, the Supreme Court handed down a unanimous opinion, authored by Justice Sotomayor, resolving a Circuit split over the interpretation of Section 546(e) of the Bankruptcy Code, the “safe harbor” provision...more

Southern District of Texas refuses to impose time limit on safe harbor termination rights

On February 16, 2018, the US District Court for the Southern District of Texas issued an opinion that may prove important for non-defaulting parties to trading contracts. In an appeal arising out of the Linn Energy...more

Supreme Court Issues Decision on Section 546(e) Safe Harbor Provision Resolving Long-Standing Circuit Split

On Feb. 27, 2018, the Supreme Court handed down a unanimous opinion, authored by Justice Sotomayor, resolving a Circuit split over the interpretation of Section 546(e) of the Bankruptcy Code, the “safe harbor” provision that...more

Supreme Court Narrows Bankruptcy “Safe Harbor” Fraudulent Transfer Protections

by Ropes & Gray LLP on

On February 27, 2018, the U.S. Supreme Court issued a ruling that will make it easier for bankruptcy trustees, creditors’ committees, and other bankruptcy estate representatives to claw back payments made to shareholders in...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

New Fed chair Jay Powell made his first official appearance before Congress in that capacity, relaying to the House Financial Services Committee yesterday that he viewed the country’s economic outlook as improved since...more

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