News & Analysis as of

Chapter 11

Dickinson Wright

You Use It, You Pay for It: TRP Brands Reinforces Landlord Rights

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When tenant debtors continue to use leased space after filing for bankruptcy, they, by definition, benefit from such use. Landlords often hold off on pressing available remedies because of the debtor’s continued use and...more

Ropes & Gray LLP

Distressed Debt Legal Insights: Special Edition: 2025 Takeaways and 2026 Outlook

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Welcome to a special edition of Distressed Debt Legal Insights, Ropes & Gray’s source of timely insights for professionals navigating the complex world of liability management and special situations finance....more

Levenfeld Pearlstein, LLC

Distressed Commercial Real Estate Update — Courts Curtail Certain Landlord Rights

A pair of recent tenant-friendly bankruptcy court decisions have (1) limited the scope of landlord priority expense claims, and (2) made it easier for a tenant in bankruptcy to assume and assign a lease over its landlord’s...more

Mayer Brown

New York Court Draws Limits to Encroachment on Sacred Rights in STG Logistics

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On January 3, 2026, the New York State Supreme Court delivered a win to a group of minority lenders to STG Logistics (“STG”), denying four motions to dismiss the minority lenders' lawsuit seeking to unwind or be awarded...more

Holland & Knight LLP

2025 Aviation Bankruptcy Update

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In keeping with the past five years, 2025 has continued to be an active time for airline restructurings and liquidations. The two largest U.S. aviation Chapter 11 proceedings that commenced during 2024, Spirit Airlines and...more

Patterson Belknap Webb & Tyler LLP

Bankruptcy Avoidance Law: Court Allows Bankruptcy Trustee to Sue a Subsequent Transferee Even When the Initial Transferee Isn’t a...

A bankruptcy trustee can recover an avoided fraudulent transfer from both the initial transferee and subsequent transferees. But can a trustee recover from a subsequent transferee if the initial transferee isn’t named as a...more

Stark & Stark

Out in the Cold: Eddie Bauer Files for Chapter 11 Bankruptcy in New Jersey

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​​​​​​​Eddie Bauer LLC, the retail operator of approximately 180 Eddie Bauer stores across the U.S. and Canada, filed for voluntary Chapter 11 bankruptcy protection on February 9, 2026, in the United States Bankruptcy Court...more

A&O Shearman

U.S. restructuring 2025 review and 2026 outlook

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U.S. bankruptcies and restructurings are expected to remain broadly steady in 2026, providing ample opportunity for restructuring and special situations investment. In the meantime, the U.S. market is assessing the...more

King & Spalding

Bankruptcy Court Denies Stay in Class Action Alleging $100 Million Special Needs Trust Fraud

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On November 21, 2025, the U.S. Bankruptcy Court for the Middle District of Florida denied American Momentum Bank’s request to stay an adversary class action accusing the bank of aiding and abetting the theft of more than $100...more

Adams & Reese

What’s In a Name? A $500,000.00 Secured Claim, According to the United States Bankruptcy Court for the Eastern District of Texas

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A recent decision by the United States Bankruptcy Court for the Eastern District of Texas (the “Court”), In re East Texas Machining & Manufacturing, LLC, Adversary No. 24-06043, Case No. 23-60629, (Bankr. E.D. Tex. Jan. 29,...more

White & Case LLP

How to prepare for a downturn as a private credit lender

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Despite a complex operating environment, persistent inflation and tariff-related economic disruption, private credit lending has remained robust, and portfolios have proven resilient. At the end of October, trailing...more

K&L Gates LLP

Has the Texas Two-Step Become the Thames Two-Step?

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In the first of its kind, a US company with no prior connection to the United Kingdom, has financially restructured via a Part 26A Companies Act (UK) Restructuring Plan (the RP), in respect of which it also achieved Chapter...more

Robinson & Cole LLP

2025 Chambers Insolvency Global Practice Guide Chapters: Law and Practice – USA

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An overview of the U.S. insolvency framework, addressing core principles, creditor rights, restructurings, and cross-border issues....more

Robinson & Cole LLP

2025 Chambers Insolvency Global Practice Guide Chapters: USA – Delaware Trends and Developments

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An analysis of recent Delaware bankruptcy developments, including third-party releases and emerging trends following the Supreme Court’s Purdue decision....more

Davidoff Hutcher & Citron LLP

How Chapter 11 Can Resolve Your Personal Guarantees and EIDL Loans

If you’re a restaurant owner in New York carrying COVID-era EIDL debt and personal guarantees that feel impossible to pay, I have good news: there are real, practical pathways to resolve these obligations—often for far less...more

Davidoff Hutcher & Citron LLP

Workout, Wind-Down, or Chapter 11: Choosing the Right Restructuring Path for New York Restaurants

When your restaurant is struggling, it’s natural to ask: “Do I really need to file bankruptcy?” The honest answer is – not always, but it’s often times either the best (and only) option....more

Arnall Golden Gregory LLP

Restructuring Roundup - January 2026

AGG’s Restructuring Roundup newsletter is a monthly update of legal issues and news affecting or related to commercial litigation and bankruptcy. The newsletter is a curation of published articles and news, and contains...more

Seward & Kissel LLP

Trimming the Fat, Lap of Luxury and Brand Awareness

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Fat Brands, burdened with heavy debt, declares bankruptcy | Restaurant Business - The owner of Fatburger, Twin Peaks, Johnny Rockets, and Nestle Toll House Café—among other brands—has declared bankruptcy after accruing...more

Morgan Lewis

Anthology and ‘In-Court’ Liability Management Transactions: What to Know

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Tactics used in liability management type transactions (LMTs) have made their way to bankruptcy cases, including non pro rata debtor-in-possession (DIP) rollups, leading to objections from non-participating lenders. Most...more

Husch Blackwell LLP

Twin Hospitality Group Chapter 11 Filing — What Landlords Should Know

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Twin Hospitality Group Inc., the parent behind Twin Peaks, Smokey Bones, Fatburger, Johnny Rockets, Fazoli’s, Round Table Pizza, and more than 150 affiliated entities, filed for Chapter 11 on January 26, 2026, in the Southern...more

DLA Piper

Beyond chapter 11: How US companies are using UK restructuring plans

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As a result of a well-developed recognition regime in the United States and the adoption of accessible restructuring laws in jurisdictions around the globe, new options for restructuring global businesses have emerged. In...more

Fox Rothschild LLP

New Jersey Bankruptcy Judge Michael Kaplan on Bankruptcy Practice – Pragmatism, Feasibility, and the Realities of Chapter 11

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In Episode 22 of The Octus Download (available on Apple Podcasts, Spotify, Amazon Music), hosts Jason Sanjana and Kevin Eckhardt interviewed the Honorable Michael B. Kaplan, U.S. Bankruptcy Judge for the District of New...more

Proskauer Rose LLP

A Test of Endurance: 2025 Private Credit Restructuring Year in Review

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Private credit confronted a whirlwind of market forces in 2025. Tariff anxiety saw the public debt market slow to a crawl during the first half of the year, only to rally in Q3 with blockbuster M&A activity and intense...more

Mayer Brown

Chapter 11 Case Dismissed for Lack of Corporate Authority

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Ashley Stewart’s Chapter 11 case was dismissed after the United States Bankruptcy Court for the District of New Jersey (Meisel, J.) found that it was not an authorized filing. The court determined that the individuals who...more

Dickinson Wright

Colorado Bankruptcy Court Pushes Back on Chapter 11 Filings by Solvent Debtors

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While Chapter 11 does not require debtor insolvency, it does require good faith (applicable to the petition and the plan), which for solvent debtors seeking to reject and modify lease-counterparty rights, includes...more

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