M&As – Novation and Recertification
This two-part blog series discusses why buyers looking to make strategic purchases in the health care industry might want to take advantage of the Bankruptcy Code Section 363 sale process (363 Sale) and the pros and cons of...more
In In re Woodbridge Grp. of Companies, LLC, No. BR 17-12560-BLS, 2019 WL 4305444 (D. Del. Sept. 11, 2019), the United States District Court for the District of Delaware affirmed an opinion by Bankruptcy Judge Kevin Carey, and...more
The last several years have been treacherous for the retail sector. Changing shopping patterns and shifting demographics have led some commentators to declare that the (retail) apocalypse is upon us. ...more
In This Issue: Caveat Emptor—Anti-Assignment Clause Renders Transferred Claim Unenforceable - In In re Woodbridge Group of Companies, LLC, 2018 WL 3131127 (Bankr. D. Del. June 20, 2018), the bankruptcy court ruled...more
On June 20, the U.S. Bankruptcy Court for the District of Delaware held that anti-assignment clauses contained in certain promissory notes were enforceable under Delaware law, contract law and the Uniform Commercial Code. ...more
In a non-precedential opinion filed on July 17, 2018, a copy of which may be found here, the Third Circuit Court of Appeals affirmed the ruling of the Delaware District Court approving an asset purchase agreement over...more
The Bankruptcy Court for the District of Delaware recently held in In re Woodbridge Group of Companies, LLC that while Rule 3001 of the Bankruptcy Code provides a mechanism for transfers of claims, Rule 3001 is not a...more
On June 20, 2018, the United States Bankruptcy Court for the District of Delaware issued a decision sustaining the debtors’ objection to the proof of claim filed by Contrarian Funds, LLC. The bankruptcy court found that the...more
Our Distressed Debt & Claims Trading Team explores why it is more important than ever for bankruptcy claims and loan traders to inspect and comply with express anti-assignment and transfer restrictions in underlying debt...more
On June 20, 2017, the United States Bankruptcy Court for the District of Delaware (the “Court”) issued an opinion in the bankruptcy cases of Woodbridge Group of Companies (collectively, the “Debtors”), sustaining the Debtors’...more
The June 20, 2018 decision by the Delaware Bankruptcy Court in Woodbridge Group of Companies, LLC should prompt those involved in claims trading to reassess transactions where the underlying documents have anti-assignment...more
On June 20, 2018, Judge Carey of the Delaware Bankruptcy Court issued an opinion in the Woodbridge Group of Companies bankruptcies enforcing an anti-assignment clause contained in a promissory note to restrict assignment...more
The Delaware bankruptcy court recently decided that a debtor could not assign a trademark license absent the consent of the licensor. The court concluded that federal trademark law and the terms of the license precluded...more