From time to time, the U.S. Supreme Court has distinguished the bankruptcy courts’ power — deriving from Congress’ authority under Article I of the U.S. Constitution to enact uniform bankruptcy laws — from the judicial power...more
In 2018, the liquidating trustee for Venoco, LLC and its affiliated debtors (collectively, the “Debtors”) commenced an action in the United States Bankruptcy Court for the District of Delaware seeking monetary damages from...more
Two recent decisions involving health care companies demonstrate how reorganization under Chapter 11 of the Bankruptcy Code can be used to manage large liabilities. ...more
The judicial power of the United States is vested in courts created under Article III of the Constitution. However, Congress created the current bankruptcy court system over 40 years ago pursuant to Article I of the...more
In trotting a path out of Chapter 11, debtors in most cases will need to engage various key stakeholders, some of whom are not entitled to a distribution in the bankruptcy. As a form of remuneration, non-debtors may insist on...more
There were nearly a million bankruptcy cases filed by individuals and businesses in 2014. It is safe to say that only the tiniest fraction of such debtors have any familiarity with the Supreme Court’s decision in Stern v....more