The ability to assume, assume and assign, or reject executory contracts and unexpired leases is a power central to ability of a bankruptcy trustee or chapter 11 debtor-in-possession ("DIP") to maximize the value of the estate...more
The first full year of the post-COVID-pandemic era was characterized in the United States by continued economic recovery, persistently high consumer interest rates—despite three cuts in the benchmark federal funds rate in...more
When a debtor files for bankruptcy, creditors often fear their claims will be wiped away. However, under Section 523 of the Bankruptcy Code, certain debts are categorized as non-dischargeable, meaning the debtor cannot...more
US courts are issuing guidelines to ensure litigators disclose any use of generative AI in legal proceedings. By now, most of us have heard a story about the misuse of generative AI in the practice of law: the attorney...more
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
Even after a bankruptcy court has confirmed a chapter 11 plan, changed circumstances prior to the plan's implementation and "substantial consummation" might make alterations to the plan necessary. If a proposed change is...more
Federal Rule of Bankruptcy Procedure 9006(b) provides that, generally, “when an act is required to be done at or within a specified period by these rules or by a notice given thereunder or by order of court, the court for...more
Since the first Johnson & Johnson talc bankruptcy was filed in 2021, Judge Michael Kaplan has faced countless disagreements in the US Bankruptcy Court. These range from discovery fights, disputes over administration of tens...more
The legal wrangling over Purdue Pharma, L.P.’s bankruptcy plan has been splashed over the news. The plan would see Purdue Pharma become a non-profit organization, and the Sackler family that had owned the company would...more
First Evergrande, now Sunac. Another big Chinese developer files for US bankruptcy protection | CNN Business - Sunac, a leading Chinese property developer, is the second giant Chinese developer in weeks, following...more
On December 1, 2022, several important amendments to the Federal Rules of Bankruptcy Procedure (Rules) became permanent and will govern the procedures employed in cases filed under Subchapter V of Title 11 of the US Code...more
On February 19, 2020, the Small Business Reorganization Act of 2019 (SBRA) took effect after being signed into law in mid-2019. Among other things, the SBRA created a new subchapter (Subchapter V) to chapter 11 of title 11 of...more
Revlon Shareholders Seek Official Representation in Bankruptcy Case | Reuters - A group of Revlon shareholders asked a bankruptcy judge to appoint an official committee to represent them, as the group feels that their...more
In a recent opinion from the United States Bankruptcy Court for the Eastern District of California, Judge Christopher Klein sanctioned a decedent’s estate’s representative and its lawyer for frivolously and repeatedly...more
To promote the finality and binding effect of confirmed chapter 11 plans, the Bankruptcy Code categorically prohibits any modification of a confirmed plan after it has been "substantially consummated." Stakeholders, however,...more
The U.S. Bankruptcy Court for the Eastern District of North Carolina recently rejected a debtor’s argument that the 2017 Amendments to Rules 3012 and 3015 of the Federal Rules of Bankruptcy Procedure permitted her to avoid a...more
Section 11 of Official Bankruptcy Form 105, Involuntary Petition Against an Individual, provides: Allegation- Each petitioner is eligible to file this petition under 11 U.S.C. § 303(b). The debtor may be the...more
Another case shows the perils of waiting until the final minutes to meet a court deadline. In re U-Haul, 21-bk-20140, 2021 Bankr LEXIS 3373 (Bankr. S.D. W. Va. Dec. 10, 2021). The debtor is a well-known truck rental...more
Most bankruptcy practitioners are familiar with the intentionally broad scope of discovery under Bankruptcy Rule 2004. However, there are limits to this discovery and the “pending proceeding” rule can be a useful tool to...more
A few changes to the Federal Rules of Bankruptcy Procedure became effective on December 1, 2021. The most noteworthy change relates to Bankruptcy Rule 9036, which addresses notice and service by electronic transmission....more
The First Circuit was required to decide whether the Federal Rules of Bankruptcy Procedure (the “Bankruptcy Rules”) or the Federal Rules of Civil Procedure (the “Civil Rules”) govern a case that comes within the federal...more
Each year amendments are made to the Federal Rules of Bankruptcy Procedure, which govern how bankruptcy cases are managed. The amendments address issues identified by an Advisory Committee made up of federal judges,...more
The U.S. Court of Appeals for the Eighth Circuit recently handed down an important opinion addressing the doctrine of equitable mootness in bankruptcy appeals. FishDish, LLP v. VeroBlue Farms USA, Inc., Nos. 19-3413, -3487...more
There is more than one way that a creditor of a bankrupt entity (or debtor) can directly prosecute its claims in bankruptcy. If the creditor is involved in prepetition litigation with the debtor, it could request relief from...more
At stake in a recent decision by the First Circuit was this: when a bankruptcy matter is before a federal district court based on non-core, “related to” jurisdiction, should the court apply the Federal Rules of Bankruptcy...more