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Unsecured Debt Bankruptcy Plans

Dorsey & Whitney LLP

Paper Source Bankruptcy Offers Lessons for Vendors Playing Their Cards

Dorsey & Whitney LLP on

On March 2, 2021, stationery and gift retailer Paper Source filed for chapter 11 bankruptcy, stating in court filings that effects of the COVID-19 pandemic damaged its finances and operations. Paper Source stated that in...more

Ward and Smith, P.A.

Can a Debtor Choose Salvation Over Creditors?

Ward and Smith, P.A. on

In a Chapter 13 bankruptcy, debtors propose a plan to re-pay all or a portion of their debts. The amount to be repaid depends on how much the debtors earn, the amount and types of debt owed, and how much property they own....more

Carlton Fields

Big Changes for Small Business Bankruptcies

Carlton Fields on

The Small Business Reorganization Act of 2019 (SBRA) was signed into law in August 2019 and will go into effect on February 19, 2020. The goal of the SBRA is to make small business bankruptcies faster and less expensive....more

Kramer Levin Naftalis & Frankel LLP

Fifth Circuit Analyzes Creditor’s Impairment, Entitlements to Contractual Make-Whole and Post-Petition Interest Under...

A three-judge panel for the Fifth Circuit Court of Appeals recently held, in the Chapter 11 case In re Ultra Petroleum Corp., No. 17-20793 (5th Cir. Jan. 17, 2019), that (i) a creditor is not “impaired” by a reorganization...more

Katten Muchin Rosenman LLP

In re Tribune Co.: Allowance of Post-Petition Indenture Trustees Fees as Unsecured Claim

In a brief but significant opinion, the United States District Court for the District of Delaware reversed a decision by the United States Bankruptcy Court for the District of Delaware and allowed more than $30 million in...more

Kramer Levin Naftalis & Frankel LLP

Horizontal Gifting Upheld in Chapter 11 Plan in the Third Circuit

The Bottom Line - In Hargreaves v. Nuverra Environmental Solutions Inc. (In re Nuverra Environmental Solutions Inc.), 17-1024 (D. Del. Aug. 21, 2018), a Delaware district court upheld a bankruptcy court’s ruling that the...more

Kramer Levin Naftalis & Frankel LLP

Ninth Circuit Affirms Creditors’ Ability to Buy Blocking Position of Unsecured Claims

The Ninth Circuit recently held, in In re Fagerdala USA – Lompoc, Inc., No. 16-35430, 2018 WL 2472874 (9th Cir. June 4, 2018), that a creditor may purchase just enough unsecured claims to obtain a blocking position to plan...more

Latham & Watkins LLP

Houston Bankruptcy Court Splits With Third Circuit on “Statutory Impairment”

Latham & Watkins LLP on

Ultra court clarifies the requirements for classifying a creditor as “unimpaired” under a plan of reorganization. Key Points: - Texas bankruptcy court splits from Third Circuit in finding that a creditor must receive...more

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