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King & Spalding

Bankruptcy Court Holds That Creditor Did Not Act as Mere Conduit for Preferential Transfers

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On September 17, 2025, the U.S. Bankruptcy Court for the District of Connecticut rejected an argument by a debtor that payments made by its creditor to a financial consultant were preferential transfers under the Bankruptcy...more

Mayer Brown

German Insolvency Law - Rights and Duties of the Creditors' Committee

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RIGHTS AND DUTIES OF THE CREDITORS' COMMITTEE - The principal body representing insolvency creditors is the creditors' assembly, through which creditors jointly exercise their rights vis-a-vis the insolvency debtor, the...more

Goodwin

Outnumbered, Not Outplayed: Minority Lenders Successfully Challenge Exclusive Backstop Agreement on Equal Treatment Grounds in...

Goodwin on

The District Court for the Southern District of Texas (the “District Court”) recently issued a ruling in the chapter 11 cases of ConvergeOne Holdings, Inc. and its affiliated debtors (together, the “Debtors”) prohibiting the...more

Stark & Stark

Defending Rite-Aid’s Preference Claims - Know Your Rights

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​​​​​​​Over one thousand creditors were “preferred” as Rite Aid ran up to its first bankruptcy filing in 2023. That is what the trustee appointed to liquidate Rite Aid’s assets is alleging in a tidal wave of lawsuits recently...more

Hinshaw & Culbertson - Consumer Crossroads

Mortgage Lender Insights: Exploring the Impact of Surrendering Collateral in Bankruptcy on Foreclosure Litigation

A debtor’s statement of intention to surrender collateral under 11 U.S.C. 521(a)(2) in bankruptcy may impact their ability to contest foreclosure, primarily due to the application of judicial estoppel. This blog post explores...more

Falcon Rappaport & Berkman LLP

Bankruptcy Court Grants In Rem Relief to Creditor, Strengthening Protections Against Serial Bankruptcy Filers

In a recent decision that reinforces creditor protections against serial bankruptcy filers, the United States Bankruptcy Court for the Eastern District of California granted in rem stay relief under Section 362(d)(4) of the...more

DarrowEverett LLP

Navigating FCC Rules in Broadcast Lending and Collateral Structuring

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Under the Communications Act of 1934, as amended (the "Communications Act"), a Federal Communications Commission (the "FCC") broadcast license cannot be owned or directly encumbered by security interests. Still, lenders...more

White and Williams LLP

Rite Aid Files a Thousand Preference Actions

White and Williams LLP on

Rite Aid is now in its second bankruptcy in less than two years. Despite the failed reorganization efforts of the first bankruptcy, nearly a thousand complaints were recently filed in the Bankruptcy Court for the District of...more

Fox Rothschild LLP

Defining the Boundaries of Consensual Third-Party Releases – Tehum/YesCare Case Study

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In 2024, the Supreme Court, in Harrington v. Purdue Pharma L.P., 603 U.S. 204 (2024), held that the Bankruptcy Code does not authorize nonconsensual third-party releases in Chapter 11 reorganization plans, meaning affected...more

Freiberger Haber LLP

Voidable Transfer Under the New Debtor and Creditor Law

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By: Jeffrey M. Haber In 2019, New York enacted the Uniform Voidable Transactions Act, which repealed and replaced certain provisions of the Debtor and Creditor Law (“DCL”) relating to fraudulent conveyances, which became...more

Seward & Kissel LLP

Lacking Merit and First Watch

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Dr. Phil Loses Trial Over His Media Startup’s Bankruptcy | The Hollywood Reporter - The case will proceed as a Chapter 7 liquidation after a U.S. bankruptcy judge rejected McGraw’s bid to keep it in Chapter 11....more

Troutman Pepper Locke

How Are Shopping Center Leases Treated in Bankruptcy? - Creditor’s Rights Toolkit

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Section 365(b)(3) of the Bankruptcy Code provides special protections for landlords of shopping center leases, which often come into play when a tenant-debtor selling its assets seeks to assume and assign a lease to a...more

Cadwalader, Wickersham & Taft LLP

Happy Halloween From Scooby Boo!! October 2025 - District Court in Houston Further Clarifies “Equal Treatment” Rule, Supporting...

On September 25, 2025, the U.S. District Court for the Southern District of Texas overturned the Bankruptcy Court's confirmation of ConvergeOne's chapter 11 plan for violating the Bankruptcy Code’s “equal-treatment” rule. ...more

Falcon Rappaport & Berkman LLP

Commercial Bankruptcy Filings Surge in July 2025

Newly released data shows a significant rise in bankruptcy filings across the U.S., with commercial businesses seeing some of the steepest increases....more

Offit Kurman

Global Capital, Local Law: Navigating the Risks of U.S. Bankruptcy

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When raising capital in the U.S., owners and directors of foreign companies have to be cognizant of how restructuring can be used by creditors to displace management and shareholders. A recent decision by the U.S. District...more

Hogan Lovells

Turbo Group – A practical application of recent restructuring plan developments

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The English High Court last week published its judgment ([2025] EWHC 2678 (Ch)) in respect of its sanction on 9 July 2025 of the inter-conditional restructuring plans proposed by thirteen Turbo Group companies under Part 26A...more

Jenner & Block

Third-Party Releases Through Chapter 15—Loophole or Comity?

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Recent filings suggest that companies are leveraging recognition proceedings under Chapter 15 of the U.S. Bankruptcy Code to obtain relief they couldn’t achieve under foreign or U.S. bankruptcy law alone. Noteworthy decisions...more

Seward & Kissel LLP

Sub-Prima Lender, The Heritage Club, and Big Headache

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Subprime lender PrimaLend Capital Partners files for bankruptcy protection | Reuters - Reports from Bloomberg News had revealed that the company’s creditors were going unpaid for months....more

Hogan Lovells

Fairness back in fashion: River Island restructuring plan provides guidance on evidentiary requirements for cross-class cramdowns

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The sanction decision handed down by the English High Court (Sir Alastair Norris) on 4 September 2025 in connection with the River Island Part 26A restructuring plan has provided helpful clarification as to what the Court...more

Shumaker, Loop & Kendrick, LLP

US Column: A Tutorial For Vendors Dealing With Insolvent Customers

On 5 May 2025, Rite Aid filed its second Chapter 11 proceeding less than 2 years after its first. Rite Aid is the 3rd largest pharmacy or “drug store” chain in the US, with over 2000 stores before its Chapter 11 filing. It’s...more

Hogan Lovells

Federal Court limits LME tactic in Chapter 11 context: ConvergeOne Holdings

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On September 25, 2025, Judge Andrew Hanen of the United States District Court for the Southern District of Texas reversed the bankruptcy court’s confirmation of ConvergeOne Holdings Inc.’s prepackaged Chapter 11 plan. The...more

Kilpatrick

Creditor Enforcement Under the Illinois Receivership Act

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The Illinois Receivership Act (“Act”) takes effect on January 1, 2026. This new law provides a robust legal framework for the appointment, powers, and administration of commercial receiverships in Illinois. Notably, the Act...more

Orrick, Herrington & Sutcliffe LLP

Parties seek preliminary approval of $9M+ class settlement over Michigan post-judgment interest

On October 2, parties in a class action filed a joint motion for preliminary approval of a proposed settlement resolving allegations that certain debt collectors and creditors collected post-judgment interest from Michigan...more

Seward & Kissel LLP

The Sum of Its (Car) Parts and Whiskey Rebellion

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First Brands CEO James resigns amid bankruptcy process; turnaround expert in charge | Reuters - Newly instated Chief Restructuring Officer Charles Moore has been positioned at the company since September....more

Levenfeld Pearlstein, LLC

PEB Commentary Casts Doubt on Incorporation-by-Reference Approach to UCC-1 Collateral Descriptions

In the context of secured transactions, the importance of a properly completed and filed UCC-1 financing statement (“UCC-1”) cannot be overstated. While a UCC-1 is often the simplest document in a transaction — i.e., a...more

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