News & Analysis as of

Reorganizations Bankruptcy Court

Fox Rothschild LLP

The Impact of Purdue Pharma

Fox Rothschild LLP on

It has been approximately two months since the highly anticipated Supreme Court decision in Harrington v. Purdue Pharma L.P., and it is already making a significant impact in bankruptcies around the country. In September...more

Seward & Kissel LLP

Rock the Vote and RICO-chet

Seward & Kissel LLP on

Celsius pushes back on FTX customer payback plan | Bloomberg Law - The Celsius administrator and liquidators of Three Arrows Capital objected to FTX's Chapter 11 plan, arguing it aims to compensate people who had accounts...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

Snell & Wilmer

SCOTUS Decides Against Sacklers’ Release in Purdue Pharma

Snell & Wilmer on

On June 27, 2024, the U.S. Supreme Court issued its much-anticipated decision in Harrington v. Purdue Pharma L.P. The issue before the Court was whether the Bankruptcy Code permits nondebtors to obtain a release of...more

Rivkin Radler LLP

Supreme Court Rejects Purdue Pharma’s Bankruptcy Plan

Rivkin Radler LLP on

On June 27, 2024, the U.S. Supreme Court blocked a $6 billion bankruptcy settlement in Harrington v. Purdue Pharma L. P., No. 23-124, 2024 WL 3187799, at *11 (U.S. June 27, 2024). The Court found that the Bankruptcy Code does...more

Vinson & Elkins LLP

SCOTUS in Purdue: Non-Debtor Third-Party Releases Are Not Permitted in Chapter 11 Plans Without Consent

Vinson & Elkins LLP on

On June 27, 2024, the United States Supreme Court (the “Supreme Court” or “Court”) rendered a 5-4 opinion in Harrington v. Purdue Pharma, L.P. that “the [B]ankruptcy [C]ode does not authorize a release and injunction that, as...more

Arnall Golden Gregory LLP

Restructuring Roundup - June 2024

AGG’s Restructuring Roundup newsletter is a monthly update of legal issues and news affecting or related to commercial litigation and bankruptcy. The newsletter is a curation of published articles and news, and contains...more

Shumaker, Loop & Kendrick, LLP

Client Alert: Critical Vendor in Texas: It’s a Rodeo

In Chapter 11 cases, one of a vendor’s best shots at getting paid its pre-petition debt is being designated as a “critical vendor”....more

Skadden, Arps, Slate, Meagher & Flom LLP

Beyond Traditional Financing: Exploring Equity-Linked DIP Strategies in WeWork and Enviva

Building on emerging trends, 2024 has seen a continued rise in the use of equity-linked debtor-in-possession (DIP) financing in Chapter 11 cases. Recent examples from WeWork and Enviva illustrate how stakeholders are...more

Epstein Becker & Green

A Day for Specialists - SCOTUS Today

Another Three-for Thursday at the Supreme Court, with none of the decisions a landmark but each of utmost relevance to legal specialists and technicians in the fields of bankruptcy, estate taxation, and Indian affairs....more

Jones Day

Delaware Bankruptcy Court: "Center of Main Interests" for Purposes of Chapter 15 Recognition Must Be Determined on...

Jones Day on

Determining a foreign debtor's "center of main interests" ("COMI") for purposes of recognizing a foreign bankruptcy proceeding in the United States under chapter 15 of the Bankruptcy Code can be problematic in cases...more

Ward and Smith, P.A.

Can I Require a "True Up" in a Subchapter V Plan of Reorganization?

Ward and Smith, P.A. on

For creditors, it can be difficult to navigate the financial difficulties of your customers. It seems like it would only get worse in bankruptcy, but that is not always the case.  Subchapter V of Chapter 11 of the Bankruptcy...more

Fox Rothschild LLP

Outlook Still Hazy for Cannabis Companies’ Access to Bankruptcy

Fox Rothschild LLP on

If finalized, the Drug Enforcement Administration’s (DEA) recent recommendation to reclassify cannabis from a Schedule I to a Schedule III substance has the potential to open important doors to businesses in the legal...more

Levenfeld Pearlstein, LLC

Subchapter V Trustee Fees Protected as Administrative Expenses Outside the Ordinary Course of Business

Since its inception, Subchapter V of chapter 11 of the United States Bankruptcy Code has raised novel questions for practitioners to consider and, ultimately, for courts or legislators to address. One of these issues – the...more

Newburn Law

The Death of the Acreage Dedication?

Newburn Law on

Acreage dedications in midstream oil and gas contracts have been subject to considerable scrutiny and legal debate in recent years. This article provides an overview of the current state of acreage dedications, examining key...more

Pillsbury Winthrop Shaw Pittman LLP

Conflicting Court Rulings on Subchapter V Eligibility Leave Small Businesses in Limbo

Two recent bankruptcy court decisions reflect a split of authority on subchapter V eligibility. In re Macedon Consulting Inc. finds that all future amounts due under an unexpired lease qualify as “noncontingent and...more

International Lawyers Network

Bankruptcy Proceedings in the United States (Updated)

Bankruptcy Proceedings in the United States - General Overview of the Primary Protection Granted to a Debtor Under the United States Bankruptcy Code - The United States Bankruptcy Code, through its various chapters,...more

International Lawyers Network

Bankruptcy, Insolvency & Rehabilitation Proceedings in Thailand (Updated)

KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER THAI LAW - Introduction - The law of Thailand regarding insolvency, bankruptcy and rehabilitation proceeding are stipulated and applied through Thai...more

Seward & Kissel LLP

My Own Prison, Plan of Attack, and Taking Stonk

Seward & Kissel LLP on

Prison healthcare company restarts mediation after bankruptcy Judge Jones quits| Reuters - On Tuesday, Tehum Care Services, a prison healthcare company, was granted court approval to continue with a new mediator who will...more

Freeman Law

Removal of Cases to Bankruptcy Court

Freeman Law on

Removal Generally - Removal of cases from one court to another is typically done when a party involved in a legal dispute believes the case should be heard in a different jurisdiction or court. Removal is governed by...more

Rivkin Radler LLP

Creditors Committee’s Request to Sue Diocese Insurers Denied

Rivkin Radler LLP on

Recently, a bankruptcy judge denied a request by a creditors’ committee to sue the insurers of the Roman Catholic Diocese of Rockville Centre (the “Debtor”). The judge found that the Official Committee of Unsecured...more

King & Spalding

Texas Bankruptcy Court Awards Majority Stake in Reorganized Debtor to Unsecured Creditors After Avoiding the Value of the...

King & Spalding on

On August 3, 2023, the U.S. Bankruptcy Court for the Southern District of Texas found that the majority of the shares of stock of a reorganized debtor should be allocated to unsecured creditors, and not the secured creditors,...more

Shumaker, Loop & Kendrick, LLP

Purdue Pharma Third Party Releases: A Bitter Pill To Swallow - Eurofenix, Autumn 2023

David Conaway reports on a recent Chapter 11 plan of reorganization submitted by Purdue Pharma (Oxycontin) to resolve a mass tort claim. The Supreme Court of the United States (SCOTUS) is having difficulty swallowing the...more

Arnall Golden Gregory LLP

Restructuring Roundup - September 2023

AGG’s Restructuring Roundup newsletter is a monthly update of legal issues and news affecting or related to commercial litigation and bankruptcy. The newsletter is a curation of published articles and news, and contains...more

Williams Mullen

What to Do if Your Suppliers Are in Distress - Options Beyond Contract Termination or Default

Williams Mullen on

In our What to Do if Your Suppliers Are in Distress video series, we describe how to identify your critical suppliers that might be in jeopardy, provide suggestions on how you can help them, and share how you can protect your...more

141 Results
 / 
View per page
Page: of 6

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide