News & Analysis as of

Debtors-in-Possession Reorganizations

Burr & Forman

Beverage Wholesalers Deal With Bang Bankruptcy

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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

Quarles & Brady LLP

Bank On It: Finance News You Can Count On - March 2022

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Junior and Senior Lenders work hard to negotiate Intercreditor Agreements. What difference does it make? Isn’t it enough to simply agree that the Junior Lender is in a junior position? This article follows a borrower,...more

Society of Corporate Compliance and Ethics...

Kasey Ingram and Rocco Debitetto on Bankruptcy and Compliance

There’s no guarantee that any company won’t end up in Chapter 11 or won’t acquire another company going through it. What does that mean for the compliance program? As Kasey Ingram, General Counsel & Chief Compliance...more

Health Care Compliance Association (HCCA)

Ingram and Debitetto on Bankruptcy and Compliance Programs

There’s no guarantee that any company won’t end up in Chapter 11 or won’t acquire another company going through it. When either happens, there are serious implications for the compliance team. As Kasey Ingram, General...more

Jones Day

Business Restructuring Review | March–April 2021

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In This Issue: Tenant's Election to Retain Possession of Rejected Lease Premises Preserves Obligations Under Related Agreements - Section 365(h) of the Bankruptcy Code provides special protection for tenants if a...more

Jones Day

The Dutch Scheme Has Arrived

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After more than six years of development, the legislative process concerning new Dutch restructuring legislation (Wet Homologatie Onderhands Akkoord, or “WHOA”) that introduces a Dutch debtor-in-possession proceeding (a...more

Jones Day

First Impressions: Tenth Circuit BAP Rules that Section 364 of the Bankruptcy Code Does Not Apply to Chapter 11 Exit Financing

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The ability of a bankruptcy trustee or chapter 11 debtor-in-possession ("DIP") to obtain credit or financing during the course of a bankruptcy case is often crucial to the debtor's prospects for either maintaining operations...more

World Law Group

M&A Strategies for the Acquisition of Insolvent/Financially Distressed Targets

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WLG's International Corporate Transactions and Restructuring & Insolvency Resolutions groups review and consider some of the strategic opportunities and pitfalls associated with acquiring a financially distressed target....more

Ward and Smith, P.A.

What Do You Get When You Cross a $137,000 Cartier Necklace and a Debtor With Selective Amnesia? A Chapter 11 Trustee.

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When a debtor files bankruptcy under Chapter 11, the bankruptcy court does not automatically appoint a trustee. Unlike Chapter 7, where the court appoints a trustee to investigate the debtor's assets, liquidate assets, and...more

Jones Day

Assets May Be Sold in Bankruptcy Free and Clear of Successor Liability

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The ability of a bankruptcy trustee or chapter 11 debtor-in-possession ("DIP") to sell assets of the bankruptcy estate "free and clear" of "any interest" in the property asserted by a non-debtor is an important tool designed...more

Jones Day

Use of Cash Collateral to Pay Prepetition Debt Not Prohibited by Jevic

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The ability of a bankruptcy trustee or a chapter 11 debtor-in-possession ("DIP") to use "cash collateral" during the course of a bankruptcy case may be vital to the debtor's prospects for a successful reorganization. However,...more

Lowenstein Sandler LLP

This is Really Funny…On Our Way to The Bankruptcy Court

A company commences a Chapter 11 bankruptcy case, obtains “debtor in possession” financing and then asks its vendors for more unsecured credit because (according to the debtor) the debtor just got lots of new financing and...more

Shumaker, Loop & Kendrick, LLP

Bankruptcy Preference Alert: Score Two Touchdowns for Chapter 11 Preference Defendants

The “Small Business Reorganization Act of 2019” (SBRA) signed into law on August 23, 2019 contains two amendments to Chapter 11 preference laws, which are NOT limited to small business reorganizations.  ...more

Mintz - Bankruptcy & Restructuring Viewpoints

Changes to Preference Practices Under New Bankruptcy Law

On August 23, 2019, President Trump signed into law the “Small Business Reorganization Act of 2019.” The primary effect of the “SBRA” is the creation of a subchapter to Chapter 11 for small business debtors, i.e. those with...more

Womble Bond Dickinson

New Bankruptcy Act Makes Chapter 11 Plan Confirmation Easier for Small Business Debtors and Offers Benefits to Preference...

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Congress approved, and earlier this month the President signed, the Small Business Reorganization Act of 2019 which streamlines existing rules governing the efforts of small businesses to restructure successfully under...more

Jones Day

Washington District Court Overturns Approval of Third-Party Releases in a Settlement Agreement and Related Free-and-Clear Sale

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For nearly 25 years, courts in the Ninth Circuit have consistently refused to sanction nonconsensual third-party releases as part of chapter 11 plans. A ruling recently handed down by the U.S. District Court for the District...more

Butler Snow LLP

Sixth Circuit’s holding that debtor in possession and liquidating trustee are one in the same for purposes of...

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The Sixth Circuit Court of Appeals recently took up the controversial issue of whether a liquidating trustee’s lawsuit, alleging breach of fiduciary duty against a corporate debtor’s officers, falls within the...more

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