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Troutman Pepper Hamilton Sanders
On March 19, in a matter of first impression, the Third Circuit Court of Appeals (Court) held that triangular setoff is not permissible in bankruptcy due to Bankruptcy Code Section 553(a)'s...
Cullen and Dykman
In a recent criminal case arising out of the Neiman Marcus bankruptcy, the founder of a hedge fund serving on the unsecured creditors' committee was sentenced to six months in prison for committing bankruptcy fraud ...
Cullen and Dykman
The automatic stay provided under section 362 of the Bankruptcy Code is an injunction, arising when a bankruptcy case is filed, which prevents all proceedings or actions against the debtor or the property of the estate ...
Mayer Brown
Business Insider reports that the U.S. economy added 559,000 new jobs in May, a rate of job creation that, if maintained, will take another 15 months for U.S. jobs to surpass the pre-pandemic peak.
Troutman Pepper Hamilton Sanders
David Pisciotta and Alissa Piccione, attorneys in Troutman Pepper's Financial Restructuring and Insolvency Group, were published in the New York Law Journal for their article.
Cooley LLP
"A bankruptcy judge overseeing Sears Holdings Corp.'s case rejected the company's request to increase compensation for three advisers hired to recover money by filing lawsuits against the...
Allen Matkins Leck Gamble Mallory & Natsis LLP
The AME Zion Church of Palo Alto, Inc. was founded in 1918 and has occupied its sanctuary for over a half century.
Mayer Brown
Reuters reports that eleven U.S. airlines collectively issued $12.84 billion in cash refunds to customers in 2020 for flights canceled during the pandemic...
Kane Russell Coleman Logan
Kane Russell Coleman Logan attorneys John Kane, Gordon Russell, Kyle Woodard and Kathleen Thompson authored an in-depth article titled Rejection: How Bankruptcy Courts' Treatment of Midstream...
Ward and Smith, P.A.
Subchapter V of Chapter 11 of the Bankruptcy Code, which took effect in February 2020, creates a more streamlined and less expensive Chapter 11 reorganization path for small business debtors.
Cades Schutte LLP
More than one year into the pandemic, with reopenings and vaccine rollouts moving forward, it appears that we are seeing the light at the end of the tunnel.
Morrison & Foerster LLP
On 12 May 2021, the High Court sanctioned three inter-conditional restructuring plans, under the Part 26A of the Companies Act 2006, for certain English subsidiaries of the Virgin Active group...
Mayer Brown
Bloomberg reports that shareholders in Latam Airlines Group SA's chapter 11 case have organized into an ad hoc committee and hired the same counsel that represented equity holders in Hertz.
Jones Day
On April 19, 2021, the U.S. Supreme Court declined to hear the appeal of a landmark 2019 decision issued by the U.S. Court of Appeals for the Second Circuit regarding the applicability...
Jones Day
To encourage creditors, equity interest holders, indenture trustees, and unofficial committees to take actions that benefit a chapter 9 or chapter 11 estate..
Jones Day
In In re Orexigen Therapeutics, Inc., 990 F.3d 748 (3d Cir. 2021), the U.S. Court of Appeals for the Third Circuit ruled as a matter of first impression that "triangular setof...
Jones Day
It is generally recognized that a bankruptcy court has the power—either equitable or statutory—to recharacterize a purported debt as equity if the substance of the transaction belies the labels the
Mayer Brown
The Wall Street Journal reports on the winning bid in the 36-hour auction for control of Hertz in anticipation of its emergence from bankruptcy later this summer.
Mayer Brown
The Bankruptcy Court for the Northern District of Texas dismissed the National Rifle Association's ("NRA") bankruptcy case on May 11, finding that the case was not filed in good faith.
Kramer Levin Naftalis & Frankel LLP
The article examines the interplay between the requirement of equal treatment under 1123(a)(4) of the bankruptcy code and participation in private placement and backstop agreements.
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