News & Analysis as of

Chapter 11 Debtors-in-Possession Debtors

Jones Day

Delaware Bankruptcy Court: Applying Credit Pressure on Financially Distressed Debtor Scuttles Ordinary Course Payment Preference...

Jones Day on

The power of a bankruptcy trustee or chapter 11 debtor-in-possession ("DIP") to avoid pre-bankruptcy preferential transfers is an important tool designed to promote the bankruptcy policy of equality of distribution and to...more

Jones Day

U.S. Supreme Court Rules that Bankruptcy Code Provides Only Limited Abrogation of Sovereign Immunity to Avoidance Actions

Jones Day on

Bankruptcy trustees and chapter 11 debtors-in-possession ("DIPs") frequently seek to avoid fraudulent transfers and obligations under section 544(b) of the Bankruptcy Code and state fraudulent transfer or other applicable...more

Ballard Spahr LLP

Supreme Court: No Strong-Arming the Federal Government With State-Law Fraudulent Transfer Claims

Ballard Spahr LLP on

Recently, in the case United States v. Miller, the U.S. Supreme Court held that the sovereign immunity waiver provision in the Bankruptcy Code is jurisdictional only and does not waive the federal government’s sovereign...more

Seward & Kissel LLP

Bad Idea Genes, Pension Plan (?), and Vertical Integration

Seward & Kissel LLP on

23andMe files for bankruptcy, Anne Wojcicki steps down as CEO | CNBC - Genetic testing company 23andMe filed for Chapter 11 bankruptcy protection in Missouri federal court. Anne Wojcicki, co-founder and CEO, has resigned...more

Jones Day

New Jersey Bankruptcy Court: Motion Not Necessary to Assume Unexpired Lease

Jones Day on

The ability to assume, assume and assign, or reject executory contracts and unexpired leases is a power central to ability of a bankruptcy trustee or chapter 11 debtor-in-possession ("DIP") to maximize the value of the estate...more

Jones Day

Ninth Circuit: No Injury to Creditors Required for Avoidance of Intentionally Fraudulent Transfer

Jones Day on

To assist a bankruptcy trustee or chapter 11 debtor-in-possession ("DIP") in maximizing the value of the bankruptcy estate for the benefit of all stakeholders, the Bankruptcy Code authorizes a trustee or DIP to avoid certain...more

Proskauer Rose LLP

Private Credit Restructuring: Priming DIPs in Focus

Proskauer Rose LLP on

In most chapter 11 cases, existing first lien lenders provide post-petition financing to preserve collateral value and maximize recovery. In some situations, a stressed borrower may threaten to pursue a hostile chapter 11...more

Jones Day

Ohio Bankruptcy Court Adopts "Actual Test" to Determine Whether Certain Unassignable Contracts Can Be Assumed in Bankruptcy

Jones Day on

Disagreement regarding the interpretation of section 365(c) of the Bankruptcy Code has led to divergent rulings among the bankruptcy and federal circuit courts regarding whether a bankruptcy trustee or chapter 11 debtor can...more

Morris James LLP

Avon Delaware Bankruptcy Proceedings FAQs

Morris James LLP on

What is the status of the Avon bankruptcy? Avon Products Inc., a U.S.-based holding company that owns the Avon brand outside the United States, filed for Chapter 11 bankruptcy protection on August 14, 2024. The filing...more

Jones Day

Ohio Bankruptcy Court Offers Guidance on (the Amended) Ordinary Course Payment Preference Defense

Jones Day on

To encourage vendors and other creditors to continue doing business with financially distressed entities, the Bankruptcy Code includes various defenses to litigation brought by a bankruptcy trustee or chapter 11...more

Jones Day

Business Restructuring Review Vol. 23 No. 3 | May-June 2024

Jones Day on

In In re Pack Liquidating, LLC, 2024 WL 409830 (Bankr. D. Del. Feb. 2, 2024), the U.S. Bankruptcy Court for the District of Delaware ruled that, in accordance with Third Circuit precedent, the Bankruptcy Code, rather than...more

Jones Day

Third Circuit: Bankruptcy Court Lacks Discretion to Deny Examiner Appointment Motion in Large Chapter 11 Cases

Jones Day on

The Bankruptcy Code provides that, in chapter 11 cases where the court does not find "cause" for the appointment of a trustee, the court "shall" appoint an examiner, upon a request from the Office of the U.S. Trustee (the...more

Jones Day

The Year In Bankruptcy: 2023

Jones Day on

One year ago, we wrote that 2022 would be remembered in the corporate bankruptcy world for the "crypto winter" that descended in November 2022 with the spectacular collapse of FTX Trading Ltd., Alameda Research, and...more

Jones Day

Delaware Bankruptcy Court Imputes Officer's Fraudulent Intent to Corporation in Avoidance Litigation

Jones Day on

A powerful tool afforded to a bankruptcy trustee or a chapter 11 debtor-in-possession ("DIP") is the power to recover pre-bankruptcy transfers that are avoidable under federal bankruptcy law (or sometimes state law) because...more

Dinsmore & Shohl LLP

Debtors Doing Illegal Things

Dinsmore & Shohl LLP on

Introduction - The United States Trustee Program is part of the United States Department of Justice and oversees the administration of bankruptcy cases, including oversight of panel trustees. When a bankruptcy court...more

Jones Day

New York Bankruptcy Court: Foreign Representative in Chapter 15 Case Need Not Be Appointed by Foreign Court

Jones Day on

In most cases seeking recognition of a foreign bankruptcy proceeding in the United States under chapter 15 of the Bankruptcy Code, the foreign debtor's "foreign representative" has been appointed by the foreign court or...more

A&O Shearman

Diamond Sports Group swings for the fences (and strikes out)

A&O Shearman on

During a U.S. bankruptcy case, can a debtor pay something less than the full contract rate provided for in a contract entered into prior to the bankruptcy while still requiring the counterparty to fully perform its...more

Polsinelli

The MOAC Decision: Implications for DIP Lenders, Not Just for Asset Purchasers

Polsinelli on

The Supreme Court’s April 19, 2023, decision in MOAC Mall Holdings, LLC v. Transform Holdco, LLC, 598 U.S.­­­___, ___S. Ct.___, 2023 WL 2992693 (April 19, 2023) resolved an existing circuit split by holding that section...more

Jones Day

Default Under Assumed Lease Need Not Be Material or Ongoing to Trigger Landlord's Entitlement to Adequate Assurance of Future...

Jones Day on

The ability of a bankruptcy trustee or chapter 11 debtor-in-possession ("DIP") to assume, assume and assign, or reject executory contracts and unexpired leases is an important tool designed to promote a "fresh start" for...more

Jones Day

Fifth Circuit: Bad Faith Does Not Overcome Deferential Business Judgment Standard Applied to Assumption or Rejection of Contracts...

Jones Day on

The ability of a bankruptcy trustee or chapter 11 debtor-in-possession ("DIP") to assume, assume and assign, or reject executory contracts and unexpired leases is an important tool designed to promote a "fresh start" for...more

Burr & Forman

Beverage Wholesalers Deal With Bang Bankruptcy

Burr & Forman on

Vital Pharmaceuticals, Inc., the company behind Bang Energy drinks, along with certain affiliated entities including Quash Seltzer, LLC, filed for Chapter 11 bankruptcy protection on October 10, 2022 in the Southern District...more

Jones Day

Business Restructuring Review Vol. 21, No. 5 | September–October 2022

Jones Day on

Bankruptcy and appellate courts disagree over the standard that should apply to a request for payment of a break-up fee or expense reimbursement to the losing bidder in a sale of the debtor’s assets outside the ordinary...more

Jones Day

Texas District Court: Bankruptcy Sale Break-Up Fee Satisfied Both Business Judgment Test and Administrative Expense Standard

Jones Day on

Bankruptcy and appellate courts disagree over the standard that should apply to a request for payment of a break-up fee or expense reimbursement to the losing bidder in a sale of the debtor's assets outside the ordinary...more

Jones Day

Third Circuit Sets Standard for Appointment of Future Claims Representatives in Asbestos Bankruptcy Cases

Jones Day on

Unlike professionals retained in a chapter 11 case by trustees, debtors, or official committees, the Bankruptcy Code provides little guidance regarding the appointment of a representative for "future claimants" in a chapter...more

Nelson Mullins Riley & Scarborough LLP

Bankruptcy 101: The “Estate” and “Property of the Estate” - Bankruptcy Basics for New and Non-Bankruptcy Attorneys

This entry is part of Nelson Mullins’s ongoing “Bankruptcy Basics” blog series that is intended to address foundational aspects of bankruptcy for non-bankruptcy practitioners and professionals.  This entry will explain the...more

39 Results
 / 
View per page
Page: of 2

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide