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Freiberger Haber LLP

In Pari Delicto … What Does That Mean?

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In Seitz v. Marcum LLP, 2024 N.Y. Slip Op. 51141(U) (Sup. Ct., N.Y. County Aug. 30, 2024) (here), Justice Robert R. Reed of the New York County Commercial Division addressed the doctrine of in pari delicto, which “bars a...more

Stark & Stark

Not a BIG Surprise, BIG LOTS Files for Chapter 11 Bankruptcy

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​​​​​​​Big Lots, the Ohio-based retail chain that sells furniture, home décor, and other items at almost 1,400 stores nationwide, filed for Chapter 11 bankruptcy protection on Monday in the District of Delaware, docket...more

Husch Blackwell LLP

Talc-Related Matter Filings Predictably Increase, As New Bankruptcies are Filed

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Observers of filing trends in personal injury mesothelioma matters alleging exposure to talc contaminated with asbestos have noted that the bankruptcy filing of a predominant defendant in those matters did little to slow the...more

Stark & Stark

Don’t Close Your Eyes: Blink Fitness May Disappear in a Chapter 11 Bankruptcy Filing

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​​​​​​​Affordable gym operator Blink Holdings aka Blink Fitness, an Equinox-owned chain with more than 100 locations, filed for Chapter 11 bankruptcy protection on Monday in the District of Delaware, docket 24-11686 (JKS)....more

McGlinchey Stafford

Impacts of Cannabis Rescheduling on Bankruptcy

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Despite the excitement of many over rescheduling cannabis from Schedule I to Schedule III, the move does not make cannabis “legal” unless it is produced, sold, and used within the tightly regulated parameters of the...more

Jones Day

Circuit Split: Eleventh Circuit and Second Circuit Disagree on Eligibility Requirements for Chapter 15 Debtors

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Courts disagree over whether a foreign bankruptcy case can be recognized under chapter 15 of the Bankruptcy Code if the foreign debtor does not reside or have assets or a place of business in the United States. In 2013, the...more

Epiq

The Importance of Data Security in Bankruptcy Claims

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Data security is a major concern across virtually all areas of the legal profession particularly in 2024 thanks in part to a record-breaking number of cyber incidents last year that cost companies an average of $4.45 million...more

Pillsbury Winthrop Shaw Pittman LLP

Bankruptcy Court Rejects Attempts to Lock Up Creditor Votes in Favor of Reorganization Plan

Recent decisions reflect a renewed focus on lock-up provisions by bankruptcy courts. The U.S. Bankruptcy Court for the Southern District of New York recently severed a provision from a post-petition agreement that required...more

Troutman Pepper

5 Issues to Consider When Liquidating Through an ABC

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Assignments for the benefit of creditors, or ABCs, continue to grow in popularity as a tool for the orderly wind-down of companies. Originally published in Law360 - March 21, 2024....more

ArentFox Schiff

Understanding Suppliers’ Rights and Remedies in Retail and Hospitality Bankruptcies

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On May 14, Outfox Hospitality LLC, the parent company of the retail chain Foxtrot Market, along with its affiliates, filed for Chapter 7 bankruptcy protection in the Bankruptcy Court for the District of Delaware, with the...more

Levenfeld Pearlstein, LLC

Congress Considers Another Extension to the Subchapter V $7.5 Million Debt Limit

On February 19, 2020, Congress enacted the Small Business Reorganization Act (“SBRA”) to, among other things, streamline the chapter 11 bankruptcy process for a small business by creating subchapter V of the Bankruptcy Code....more

Jones Day

Singapore International Commercial Court Issues First Decision on Recognition of Cross-Border Bankruptcy Cases under Model Law

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Established in 2015 as a trusted neutral forum to meet increasing demand for effective transnational dispute resolution, the Singapore International Commercial Court (the "SICC") is a division of the General Division of the...more

Blindauer Law PLLC - Government Contracts...

Government Contracts Issues for a Recession

The bond yield curve inverted in October 2022. When that occurred, it started a countdown to recession. At least it has every time since 1968. Specifically, for the last eight recessions since 1968, every single recession was...more

White and Williams LLP

Supreme Court Hits the Brakes on Boy Scouts Chapter 11 Plan

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In a terse last-minute order, the United States Supreme Court stayed implementation of the Boy Scouts of America’s (“BSA”) confirmed Chapter 11 plan, which would have stripped thousands of survivor claimants of their ability...more

Jones Day

Second Circuit Adopts "Transfer-by-Transfer" Approach to Bankruptcy Code's Safe Harbor for Securities Contracts Payments

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The scope of the Bankruptcy Code's "safe harbor" shielding certain securities, commodity, or forward-contract payments from avoidance as fraudulent transfers has long been a magnet for controversy, particularly after the U.S....more

Kaufman & Canoles

K&C Sports & Entertainment Law Weekly Roundup - January 2024 #2

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A Florida State assistant coach has been suspended for the first three games of the 2024 season for violating recruiting rules by connecting a potential transfer with a representative from an NIL collective during an official...more

Proskauer Rose LLP

Key Issues When Navigating A Tenant's Bankruptcy

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Recently, two significant distressed companies with thousands of commercial leases, Rite Aid Corp. and WeWork Inc., each filed Chapter 11 bankruptcy cases, seeking in part to rationalize their geographic footprints through...more

Buchalter

Bankruptcy Trustees and Receivers Beware: The California Second District Court of Appeal Tests The Barton Doctrine’s Limits on...

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In Breanne Martin v. Leslie Gladstone, the Second District Court of Appeal recently decided a case that could reverberate throughout the receivership and bankruptcy industries. This case comes at a propitious moment as...more

Troutman Pepper

Bankruptcy in the Cannabis Space

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Though controversial, cannabis has steadily grown into a booming industry. Despite this rapid growth and the legalization of cannabis in numerous states, cannabis is still classified as a Schedule I drug under the Controlled...more

Tucker Arensberg, P.C.

Will the Acceptance of the Appeal in Purdue Pharma by the U.S. Supreme Court Affect Johnson & Johnson?

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Now that the United States Supreme Court has agreed to expeditiously hear the U.S. Trustee’s appeal of the plan confirmation and settlement in Purdue Pharma, lawyers following the LTL Management LLC bankruptcy case, version...more

Jones Day

Liquidating Chapter 11 Plan Confirmed Despite Provision Temporarily Enjoining Litigation Against Corporate Debtors

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To prevent "trafficking in corporate shells," the Bankruptcy Code prohibits any discharge of corporate or partnership debts if the debtor is not an "individual" and, in a chapter 11 case, if the debtor proposes a liquidating...more

A&O Shearman

Getting a handle on social media: new guidance to help companies establish their ownership rights in social media accounts

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Social media accounts are increasingly a crucial component of corporate marketing, allowing businesses to build brand awareness, reach new audiences, create and maintain relationships with customers and track the market’s...more

McGlinchey Stafford

Podcast: Cannabis and Bankruptcy, Ep. 3: Considerations for Lenders [More with McGlinchey, Ep. 55]

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In the final episode of our three-part series, "Exploring Issues in Cannabis and Bankruptcy," McGlinchey's Cannabis Group Co-Chair, Heidi Urness, along with colleagues Timothy Byrd and Rudy Cerone, will delve into the...more

McDermott Will & Emery

Second Circuit Assesses Propriety of Third-Party Releases in Purdue

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On May 30, 2023, the US Court of Appeals for the Second Circuit released its long-awaited opinion addressing Purdue Pharma’s confirmed chapter 11 bankruptcy plan. Although the appeal challenged more than one aspect of the...more

Lowenstein Sandler LLP

SVB Financial Group Files for Chapter 11 Bankruptcy

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Early Friday morning, March 17, 2023, SVB Financial, the former holding company of SVB, filed a voluntary Chapter 11 bankruptcy petition in the United States Bankruptcy Court for the Southern District of New York, citing the...more

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