News & Analysis as of

Chapter 7 Chapter 11 WARN Act

Seward & Kissel LLP

The Final Frontier, Exclusive Offer, and Object Now

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Spirit Airlines rejects Frontier's bid, aims to exit bankruptcy in first quarter | Reuters - On Wednesday, low-cost carrier Spirit Airlines denied a bid of about $2.16 billion from rival Frontier Group as it was not...more

Dorsey & Whitney LLP

Option III - Structured Bankruptcy Dismissals are Alive and Well Even After Jevic

Dorsey & Whitney LLP on

Justice Breyer of the Supreme Court previously recognized that a chapter 11 bankruptcy case can generally lead to the following results: ..reorganization through a confirmed chapter 11 plan, where a deal with creditors...more

Dorsey & Whitney LLP

2020 Recap: Corporate Restructuring Review

Dorsey & Whitney LLP on

Amidst a global pandemic, there were plenty of interesting bankruptcy and restructuring events and changes that occurred in 2020. We saw new Bankruptcy Code amendments go into effect (through the Small Business Reorganization...more

Mintz - Bankruptcy & Restructuring Viewpoints

Top 10 Questions Human Resources May Have When Their Company is Filing for Chapter 11 Protection

Businesses in a wide range of industries may now be forced to consider bankruptcy given the unprecedented economic challenges caused by the COVID-19 pandemic. This advisory is designed to provide a high-level view of issues...more

Dechert LLP

In Second Circuit, “Economic Reality” and Degree of Control to Determine Whether an “Employer” Faces “Single Employer” Liability

Dechert LLP on

In a recent decision on motions for summary judgement in the TransCare case, the SDNY bankruptcy court addressed the test for the imposition of liability under the US and New York Worker Adjustment and Retraining Notification...more

Jones Day

Third Circuit Rules That WARN Act's "Unforeseeable Business Circumstances" Exception Requires That Layoffs Be Probable, Not...

Jones Day on

In Varela v. AE Liquidation, Inc. (In re AE Liquidation, Inc.), 866 F.3d 515 (3d Cir. 2017), the U.S. Court of Appeals for the Third Circuit became the sixth circuit court of appeals to rule that a "probability standard"...more

Bradley Arant Boult Cummings LLP

High Court Rules Final, Nonconsensual Structured Dismissals Invalid

The Bankruptcy Code contemplates that a Chapter 11 bankruptcy case will be concluded in one of three ways: a confirmed Chapter 11 plan, a conversion to Chapter 7 for liquidation of remaining estate assets, or a dismissal of...more

Skadden, Arps, Slate, Meagher & Flom LLP

"Third Circuit Provides Road Map for Structured Dismissals"

In the past decade, Chapter 11 practice has witnessed the rise of a new phenomenon: structured dismissals.1 Broadly speaking, the term structured dismissal is an umbrella term for a dismissal order that includes additional...more

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