Mondaq USA: Insolvency/Bankruptcy, Re-structuring
Jones Day
The International Capital Market Association announced a proposal designed to reduce the ability of holdout investors to undermine sovereign debt restructurings.
Hughes Hubbard & Reed LLP
Under the Bankruptcy Code, graduates generally cannot discharge student loan debt absent certain conditions.
Stokes McMillan Antúnez P.A
According to the Supreme Court, a person accused of defalcation satisfies the required state of mind when he or she acts with a conscious disregard
Hughes Hubbard & Reed LLP
Courts have continued to rule on the appropriate treatment in bankruptcy of a tax refund pursuant to a tax-sharing agreement (TSA) that is silent on how the refund should be treated in a bankruptcy proceeding.
Jones Day
On November 7, 2014, Judge Steven Rhodes, the judge presiding over the City of Detroit's bankruptcy case, announced that he would confirm the City's proposed Plan of Adjustment (the "Plan"), including the creditor settlements contained within that Plan.
Reinhart Boerner Van Deuren S.C.
On October 17, 2014, in the case of Official Committee of Unsecured Creditors of Motors Liquidation Co. v. JPMorgan Chase Bank, the Delaware Supreme Court considered the following question certified to it by the Second United States Circuit Court of Appeals:
Duane Morris LLP
Recently, in the case of In re Trump Entertainment Resorts, the U.S. Bankruptcy Court for the District of Delaware addressed the issue of whether a debtor has the authority to reject an expired collective bargaining agreement.
Fox Rothschild LLP
In a prior post, we discussed the commencement of approximately 72 preference actions filed in the Quantum Foods bankruptcy proceeding by the Creditors Committee.
Fox Rothschild LLP
Unitek Global Services, Inc. ("Unitek" or the "Debtor") filed for bankruptcy under Chapter 11 of the Bankruptcy Code on November 3, 2014 in the United States District Court for the District of Delaware.
Barnes & Thornburg
The Delaware Supreme Court ruled that even inadvertent mistakes in UCC filings count – the burden rests on the filing party to detect errors.
Holland & Knight
"Free and Clear" Sale of a Trademark or Intellectual Property License Under Section 363 Does Not Trump Rights of Third Party Licensees under Section 365.
Fox Rothschild LLP
In a 27 page opinion released October 23, 2014 in the Conex Holdings case (Bank. D. Del. 11-10501), Judge Sontchi of the Delaware Bankruptcy Court provided his analysis of the ability of a debtor to recover the value of NOLs used by its parent within consolidated tax returns.
Arent Fox LLP
The Bankruptcy Code definition of "intellectual property" does not explicitly include "trademarks.
Fox Rothschild LLP
On November 7, 2014, in the neighboring jurisdiction of the United States Bankruptcy Court for the District of New Jersey, Dots, LLC, et al. filed approximately 70 complaints seeking to avoid and recover alleged preferential transfers.
Proskauer Rose LLP
In a recent decision, Hon. Richard J. Sullivan vacated Hon. James M. Peck’s memorandum decision approving the payment, pursuant to the Lehman Brothers chapter 11 plan, of the reasonable professional fees of members of the statutory com¬mittee of unsecured creditors in the Lehman case.
Proskauer Rose LLP
In In re Houston Regional Sports Network LP,1 Hon. Marvin Isgur of the U.S. Bankruptcy Court for the Southern District of Texas held that an involuntary case commenced to circumvent a contractual clause requiring unanimous director consent to commence a voluntary case (the "unan¬imous-consent clause") was not subject to dis¬missal on bad-faith grounds pursuant to § 1112 (b) of the Bankruptcy Code.
Reinhart Boerner Van Deuren S.C.
Section 363(k) of the Bankruptcy Code provides that a secured creditor may "credit bid," or bid at the sale of its collateral and then offset the purchase price at closing.
Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.
Pennsylvania’s legislature recently approved House Bill No. 1773, an overhaul to its Municipalities Financial Recovery Act, commonly known as "Act 47." HB 1773 was signed into law by Governor Tom Corbett on October 31, 2014.
Fox Rothschild LLP
Any defendant to a bankruptcy adversary proceeding seeking to transfer venue of their case should read the recent opinion dated November 3, 2014, in which the Honorable Mary F. Walrath granted Defendant’s motion to transfer venue in the case styled as: IPC Int’l Corp. v. Milwaukee Golf Shopping Center LLC, et al. (In re IPC Int’l Corp.), Adv. No. 14-50333 (MFW) (Bankr. D. Del. Nov. 3, 2014).
Duane Morris LLP
In September 2007, Watson filed for bankruptcy protection under Chapter 11 of the Bankruptcy Code, and listed as one of his assets a 100 percent ownership interest in LSC.
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Jones Day
As in 2012, banking and financial services companies were conspicuously absent from the Top 10 List of public-company bankruptcy filings for 2013.
Cadwalader, Wickersham & Taft LLP
Chapter 15 of the U.S. Bankruptcy Code can be a very useful tool for foreign companies or individuals seeking bankruptcy relief in the U.S.
Blank Rome LLP
On July 2, 2014, a dry bulk shipping company with a fleet of at least 53 vessels, and affiliated entities entered Chapter 11 with a prepackaged plan of reorganization.
Lowndes, Drosdick, Doster, Kantor & Reed, P.A.
On Friday, June 7, 2013, Governor Rick Scott signed The Florida Fair Foreclosure Act, which made many substantive changes to how foreclosures must be conducted in the state.
Jones Day
Lyondell and Tribune signal that even in the Second Circuit, the reach of section 546(e) is not without bounds.
Shearman & Sterling LLP
Facing the imminent bankruptcy of the federal Highway Trust Fund (the "HTF") and the specter of delays and reductions in payments from the HTF to the States, the US Congress last week passed the Highway and Transportation Funding Act of 2014, which extended federal surface transportation programs and funding through May 2015.
Fox Rothschild LLP
Unitek Global Services, Inc. ("Unitek" or the "Debtor") filed for bankruptcy under Chapter 11 of the Bankruptcy Code on November 3, 2014 in the United States District Court for the District of Delaware.
Jones Day
On November 7, 2014, Judge Steven Rhodes, the judge presiding over the City of Detroit's bankruptcy case, announced that he would confirm the City's proposed Plan of Adjustment (the "Plan"), including the creditor settlements contained within that Plan.
Arent Fox LLP
Senior creditors rely on intercreditor agreements to protect their interests by limiting the rights that junior lien holders would otherwise enjoy as secured creditors.
Arent Fox LLP
The Bankruptcy Code definition of "intellectual property" does not explicitly include "trademarks.
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