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Creditors Bankruptcy Code

Shipman & Goodwin LLP

Strategic Alternatives: Mastering Deeds-in-Lieu, Friendly Foreclosures and Navigating Bankruptcy Scenarios

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While traditional enforcement often requires judicial intervention, alternative resolution strategies can deliver superior outcomes with reduced costs, compressed timelines, and diminished reputational impact. Understanding...more

Troutman Pepper Locke

What Is a Receivership and How Does It Differ From Bankruptcy?

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A receivership is an equitable remedy in which an independent third party is appointed by a court to manage and preserve a company’s assets. Though bankruptcy and receiverships are similar, there are significant differences...more

Holland & Knight LLP

Chapter 15 Ruling by New York Bankruptcy Court Recognizes Debtor's "Synthetic" Restructuring

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Judge Michael Wiles of the U.S. Bankruptcy Court for the Southern District of New York issued a decision earlier this year that had the effect of recognizing under Chapter 15 of the U.S. Bankruptcy Code an English Scheme of...more

Clark Hill PLC

How Bankruptcy Courts Interpret Intercreditor Agreements: The Uncertainty of Judicial Perspective

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Intercreditor Agreements typically are contractual arrangements among lenders of similar or differing priorities to a single borrower secured by the assets of the borrower, often including real estate assets. These multiple...more

Patterson Belknap Webb & Tyler LLP

Supreme Court Resolves Section 544 Sovereign Immunity Question

We have previously blogged about the Tenth Circuit’s decision in United States v. Miller, a case that concerns the relationship between section 544(b)(1) and section 106(a)(1) of the Bankruptcy Code. As we explained in our...more

Kramer Levin Naftalis & Frankel LLP

Recent Chapter 15 Cases Show Potential for Non-Consensual Third-Party Releases Based Upon Foreign (Non-U.S.) Proceedings

Last year, the U.S. Supreme Court barred the use of nonconsensual third-party releases in Chapter 11 cases, holding that the Bankruptcy Code did not provide a basis to nonconsensually release claims against third parties...more

Troutman Pepper Locke

Should I Remain Employed by the Debtor? What to Know About KEIPs and KERPs - Creditor’s Rights Toolkit

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For a debtor in financial distress, having the right team in place to steward the company through a restructuring can mean the difference between success and failure. To incentivize top talent to stay with the debtor and...more

Mayer Brown

Section 363 Sales Considerations

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Distressed entities seeking to sell assets often encounter commercial and legal challenges related to existing claims or resistant constituents. One possible solution to those challenges is to sell assets in bankruptcy...more

Nelson Mullins Riley & Scarborough LLP

Supreme Court Limits Trustee Avoidance Powers in U.S. v. Miller - Section 106(a) Doesn’t Waive Sovereign Immunity for...

Section 106(a) Doesn’t Waive Sovereign Immunity for State-Law-Based Section 544(b) Claims - The U.S. Supreme Court has significantly curtailed bankruptcy trustees’ powers in United States v. Miller, 145 S. Ct. 839 (2025). In...more

Kramer Levin Naftalis & Frankel LLP

Pension Plan Withdrawal Liability Takes Center Stage in Bankruptcy Judge's "Preliminary Observations"

A recent decision from the Bankruptcy Court for the District of Delaware in In re Yellow Corp. could have widespread implications for bankruptcy cases, including municipal bankruptcy cases. Of particular interest, the Judge...more

Orrick, Herrington & Sutcliffe LLP

Colorado enacts its Voidable Transactions Act

On April 7, Colorado enacted SB 25-133, titled the Colorado Voidable Transactions Act, which amended and renamed the statute formerly known as the “Colorado Uniform Fraudulent Transfers Act.” The Act originally created a...more

Nelson Mullins Riley & Scarborough LLP

Make-Whole Premiums in Bankruptcy: Clarity in Drafting, Certainty in Recovery

In the world of commercial lending, certain contract provisions often go unnoticed—until the moment they matter most. Make-whole premiums are one such example. Typically tucked deep in loan agreements, these provisions are...more

Troutman Pepper Locke

What Is a Structured Dismissal of a Bankruptcy Case and How Does It Affect Creditors? - Creditor’s Rights Toolkit

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More often than not, Chapter 11 debtors seek to exit bankruptcy by confirming a Chapter 11 plan of reorganization or liquidation. However, not only is this approach expensive, but it requires that the debtors have sufficient...more

Ballard Spahr LLP

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

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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

Bennett Jones LLP

Trend Watch: Third Party Releases in US Chapter 15 Proceedings

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On March 11, 2025, the US Bankruptcy Court for the District of Delaware issued an order under Chapter 15 of the US Bankruptcy Code recognizing and enforcing a restructuring plan under Mexican law that included nonconsensual...more

Stark & Stark

5 Issues for Landlords During a Bankruptcy Lease Rejection

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When a commercial tenant files for bankruptcy, they have the option to assume or reject unexpired leases. A bankruptcy lease rejection is a significant action, as it communicates the debtor’s intent to hand back the space....more

Cadwalader, Wickersham & Taft LLP

Taking Apart Section 544(b): Supreme Court Clarifies Scope of Sovereign Immunity in Avoidance Actions

On March 26, 2025, the Supreme Court held in an 8‑to‑1 decision authored by Justice Ketanji Brown Jackson that Section 106(a) of the Bankruptcy Code waives the federal government’s sovereign immunity with respect to...more

Kerr Russell

April Fools’ Day Brings Relief to Small Businesses and Individuals Filing Bankruptcy

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The U.S. Bankruptcy Code will be implementing inflation adjustments in its eligibility and exemption limits by 13.2% across various provisions. The official adjustments have been published in the Federal Register, marking the...more

Patterson Belknap Webb & Tyler LLP

Non-Creditor was Entitled to Actual Notice of A Chapter 11 Plan’s Injunction Barring Suits Against Insurance Carriers

A federal district judge recently affirmed a bankruptcy judge’s ruling that a non-creditor was entitled to actual notice of an injunction that would bar the non-creditor from suing the debtors’ insurance carriers. In re Boy...more

ArentFox Schiff

Navigating the Increased Prevalence of Massachusetts Skilled Nursing Facility Receiverships

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This past year, in the wake of significant economic challenges facing the health care industry, an unprecedented number of receiverships were imposed upon skilled nursing facilities in Massachusetts. Historically,...more

Jones Day

Fifth Circuit Rules that Serta Simmons Uptier Violated Credit Agreement, Rejects Equitable Mootness as Bar to Review of Chapter 11...

Jones Day on

In In re Serta Simmons Bedding, LLC, 125 F.4th 555 (5th Cir. 2024), as amended, No. 23-20281 (5th Cir. Jan. 21, 2025), revised and superseded, No. 23-20181 (5th Cir. Feb. 14, 2025), reh'g denied, No. 23-20181 (5th Cir. Feb....more

Troutman Pepper Locke

What Is a Chapter 15 Bankruptcy and How is It Different from a Chapter 11 Case? - Creditor’s Rights Toolkit

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Chapter 15 of the Bankruptcy Code is a mechanism for debtors to have foreign insolvency proceedings recognized in the U.S. and to have the orders entered by a foreign court in those insolvency proceedings abroad given effect...more

Morris James LLP

Proactive Steps for Creditors Facing a Customer’s Bankruptcy: Key Takeaways from ALFA International 2025

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When a customer or business partner files for bankruptcy, creditors often feel uncertain about their rights and financial exposure. At the ALFA International 2025 International Client Seminar, I had the opportunity to speak...more

Jones Day

U.S. Bankruptcy Court Directs Turnover of Chapter 15 Debtor's Assets for Administration in Foreign Bankruptcy Proceeding

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Nearing its 20th anniversary, chapter 15 of the Bankruptcy Code is an invaluable framework for coordinating cross-border bankruptcy cases involving foreign debtors that have assets located in the United States. It includes a...more

Jones Day

Second Circuit: Bankruptcy Code's Lease Assumption and Assignment Provisions Apply Only to "True Leases"

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The ability of a bankruptcy trustee or chapter 11 debtor-in-possession ("DIP") to assume and assign executory contracts and unexpired leases is an invaluable tool for generating value for a bankruptcy estate to pay creditor...more

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