Mondaq USA: Insolvency/Bankruptcy, Re-structuring
Reed Smith
Reed Smith's global Commercial Restructuring & Bankruptcy team have recently published the May issue of their quarterly newsletter.
Jones Day
Europe has struggled during the last several years to triage a long series of critical blows to the economies of the 28 countries that comprise the European Union, as well as the collective viability of eurozone economies.
Duane Morris LLP
In Wellness International Network, Ltd. v. Sharif, Case No. 13-935, 575 U.S. ___ (2015) ("Wellness"), the Supreme Court of the United States was presented with yet another question regarding the authority of federal bankruptcy courts to enter final orders and judgments in certain proceedings.
Reed Smith
The Court of Appeal has just decided a "novel question of bankruptcy law: may a case arising under chapter 11 ever be resolved –in a ‘structured dismissal' that deviates from the Bankruptcy Code's priority system?"
Cadwalader, Wickersham & Taft LLP
On May 4, 2015, a unanimous United States Supreme Court in Bullard v. Blue Hills, 135 S. Ct. 1686 (2015), resolved a long-standing circuit court split...
Stoll Keenon Ogden PLLC
The Supreme Court holds that post-petition debtor wages held by the Chapter 13 trustee after the debtor converts to Chapter 7 should be returned to the debtor rather than distributed to creditors in accordance with the Chapter 13 plan.
Cadwalader, Wickersham & Taft LLP
In December 2014 and January 2015, the U.S. District Court for the Southern District of New York issued two separate decisions involving the Trust Indenture Act of 1939.
Stoll Keenon Ogden PLLC
The district court denies the adversary proceeding defendant's motion to withdraw the reference. The plaintiffs obtained a state court judgment against the defendant before the defendant filed his Chapter 7 petition.
Stoll Keenon Ogden PLLC
The district court affirms the bankruptcy court's confirmation of the Chapter 11 plans. The appellant made numerous objections.
Fox Rothschild LLP
Michael Sweet was featured in San Bernardino County Sun article, "San Bernardino Plan to Exit Bankruptcy to Be Released Thursday."
Congress rarely accomplishes anything these days, but the need to reform Chapter 11 of the Bankruptcy Code seems to have "crossed over the aisle."
Fox Rothschild LLP
Chapter 11 plans routinely contain provisions either releasing, or enjoining litigation against, various stakeholders involved in the case, particularly where the plan contemplates an infusion of cash by those stakeholders.
Stoll Keenon Ogden PLLC
In this declaratory judgment action, the bankruptcy court grants partial summary judgment in favor of the Chapter 11 debtor.
Generally, a third-party release provision in a plan extinguishes identified non-debtor parties from liability for claims or causes of action that third-parties may hold against them.
Reed Smith
Prior to the debtor's bankruptcy filing, the trust made a loan in the amount of $11.2 million to a subsidiary - and insider - of the debtor.
Stout Risius Ross, Inc.
Anadarko shares plunged 9.3 percent in after-hours trading on December 12, 2013, cutting its market value from approximately $42 billion to approximately $38 billion.
Bullard's chapter 13 Plan took the benefits of both approaches and rejected the burdens of both approaches.
Morrison & Foerster LLP
It's been a rough couple of weeks for debt-relief services firm Morgan Drexen.
Reinhart Boerner Van Deuren S.C.
The Federal Priority Statute, as it is presently codified at 31 U.S.C. § 3713 or one of its predecessors, has been in effect since 1797.
Stoll Keenon Ogden PLLC
The bankruptcy court denies the plaintiff's motion for default judgment and dismisses the action against the individual defendant
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Jones Day
Compared to much of the rest of the world, the United States had the most positive economic, business, and financial news in 2014.
Stout Risius Ross, Inc.
Anadarko shares plunged 9.3 percent in after-hours trading on December 12, 2013, cutting its market value from approximately $42 billion to approximately $38 billion.
Fox Rothschild LLP
On May 5, 2015, Outten & Golden LLP and Loizides, P.A. filed a class action adversary proceeding complaint for violation of the WARN Act in the Corinthian Colleges bankruptcy.
Herrick, Feinstein LLP
The Second Circuit's recent decision in the Madoff clawback actions effectively limited the exposure period that "innocent investor" defendants face for the return of transfers they received in connection with the Bernie Madoff Ponzi scheme to two years prior to the date of its collapse.
McDermott Will & Emery
On May 5, 2015, the Internal Revenue Service issued two long-awaited rulings, Rev. Rul. 2015-09 and Rev. Rul. 2015-10, that should ease the lives of corporate tax planners.
Blank Rome LLP
When a debtor defaults on a loan, a secured lender has several options for repayment. One option is a foreclosure sale under Article 9 of the Uniform Commercial Code ("UCC").
Blaney McMurtry LLP
A recent decision of the U.S. District Court for the Middle District of Florida, In Re Taylor, Bean & Whitaker Mortgage Corporation, provides a helpful illustration of how to assess coverage...
Lewis Brisbois Bisgaard & Smith LLP
Assets sales in bankruptcy proceedings are accomplished pursuant to Section 363 of the Bankruptcy Code.
Ropes & Gray LLP
On May 4, 2015, in the case Bullard v. Blue Hills Bank, the United States Supreme Court held that debtors in chapter 13 (and presumably chapter 9 and 11 as well) are not entitled as of right to immediately appeal bankruptcy court orders denying confirmation of a proposed plan of reorganization.
Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.
A few reactions to today’s oral arguments before the U.S. Court of Appeals for the First Circuit regarding the validity of Puerto Rico’s Recovery Act...
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