Mondaq USA: Insolvency/Bankruptcy, Re-structuring
Fox Rothschild LLP
On June 16, 2016, the Official Committee of Unsecured Creditors of Kid Brands Inc., et al., filed approximately 64 complaints seeking the avoidance and recovery of allegedly preferential and fraudulent transfers under Sections 547, 548 and 550 of the Bankruptcy Code.
Fox Rothschild LLP
In my May 26th post, I raised several questions that unsecured creditors in any Chapter 11 case should know the answers to and take action where appropriate.
Stoll Keenon Ogden PLLC
The bankruptcy court applies Kentucky's borrowing statute, KRS § 413.320, to determine the applicable statute of limitations for the debtor's defamation, breach of contract, and fraud claims.
Stoll Keenon Ogden PLLC
The Seventh Circuit reverses the bankruptcy court, concluding that the bankruptcy code permits modification of a confirmed Chapter 13 plan based on increased income post-confirmation.
Stoll Keenon Ogden PLLC
In this Chapter 13, the bankruptcy court rules on the objection to confirmation and finds that the creditor's expert's valuation of the debtor's mobile home was more reliable than the valuations provided by the debtor's experts.
Sheppard Mullin Richter & Hampton
The case arose when Chrysalis Manufacturing Corp. ("Chrysalis") could not satisfy approximately $164,000 in debt that it owed to Husky International Electronics, Inc. ("Husky").
Shearman & Sterling LLP
Intervention Energy, LLC ("IE") and its parent entity, Intervention Energy Holdings, LLC ("IEH") (collectively, the "Debtors), are privately-held Delaware LLC's engaged in oil and natural gas exploration and production.
Shearman & Sterling LLP
Counsel Harald Halbhuber wrote an article titled Debt Restructurings and the Trust Indenture Act that was published on June 14 in the Harvard Law School Forum on Corporate Governance and Financial Regulation.
Strasburger & Price, L.L.P.
Houston bankruptcy Judge Marvin Isgur found that a term overriding royalty interest (ORRI) can be recharacterized as a loan in some circumstances where the interest terminates upon the repayment of the purchase price and an imputed rate of interest, regardless of how the transaction is documented.
Dentons
On 14 June 2016 the Verkhovna Rada of Ukraine adopted the Law "On Financial Restructuring" (the Law), which aims to solve many conflicts and assist in debt restructurings in Ukraine.
Reinhart Boerner Van Deuren S.C.
In In re Lake Michigan Beach Pottawattamie Resort LLC.,[1] Judge Timothy A. Barnes of the Northern District of Illinois addressed an issue that is crucial to many business transactions - to what extent are entities protected...
Fox Rothschild LLP
A significant portion of this post draws upon information in the first day declaration of Javier Gonzalez [D.I. 2] (the "Declaration").
Stoll Keenon Ogden PLLC
The Sixth Circuit affirms the decision finding sanctions were appropriate against the attorney because he unreasonably and vexatiously multiplied the proceedings with repeated filings.
Fox Rothschild LLP
In the recent decision of Gavin Salmonese, LLC v. Shyamsundar, et al. (In re AmCad Holdings, LLC, et al.) (Bankr. D. Del. June 14, 2016),
Stoll Keenon Ogden PLLC
The Seventh Circuit holds that Bankruptcy Rule 8002(a)'s 14-day time limit for filing a notice of appeal is jurisdictional.
Stoll Keenon Ogden PLLC
The Supreme Court holds that Puerto Rico is a "State" for purposes of Chapter 9's pre-emption provision, despite the Code's definition of "State" excluding Puerto Rico for purposes of defining who may be a debtor under Chapter 9.
Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.
Today's U.S. Supreme Court decision in Commonwealth of Puerto Rico v. Franklin California Tax-Free Trust puts an end to one of Puerto Rico's multi-pronged efforts to deleverage itself.
Fox Rothschild LLP
Recently on June 7, 2016, the Delaware Bankruptcy Court considered a motion to dismiss the Intervention Energy Holdings, LLC, et al. bankruptcy proceeding.
Fox Rothschild LLP
On June 7, 2016, Judge Laurie Selber Silverstein of the Delaware Bankruptcy Court ruled on a motion to dismiss Diamondhead's involuntary bankruptcy petition.
Jones Day
During the last two years, the Italian government has focused on reforming the Italian lending market, with the aim of boosting access to financing for Italian businesses and improving bankruptcy and enforcement proceedings in Italy.
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Kramer Levin Naftalis & Frankel LLP
Norske was a Norwegian-headquartered paper company with global operations and paper mills in several countries.
Jones Day
In connection with its efforts to restructure, Sabine filed a motion to reject the gathering agreements with Nordheim and HPIP.
Fox Rothschild LLP
In my May 26th post, I raised several questions that unsecured creditors in any Chapter 11 case should know the answers to and take action where appropriate.
Davis & Gilbert
In response to the growing balance of student loan debt in the United States, lawmakers have proposed legislation that would eliminate the most lender-protective feature of student loans – the inability to discharge the debt in bankruptcy.
Fox Rothschild LLP
Last month, the U.S. Supreme Court held that the "actual fraud" bar to discharge debts under Bankruptcy Code section 523(a)(2)(A) includes claims based on intentional fraudulent transfers, regardless of whether the debtor made a false representation to the creditor.
Fox Rothschild LLP
On June 5th and 6th, 2016, Houston-based energy firm Hercules Offshore Inc. and its affiliated debtors filed for Chapter 11 bankruptcy protection before the United States Bankruptcy Court for the District of Delaware.
Jones Day
Argentina restructured its debt in 2005 and again in 2010 by exchanging new bonds for defaulted bonds.
Lindquist & Vennum
The mortgage servicing industry has witnessed historic change in recent years and another historic change is just around the corner.
Fox Rothschild LLP
The oil and gas industry has seen unpresented levels of volatility in pricing and sustainability over the past year.
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