• Nortel Employee Blocked from Boosting Claim

    December 01, 2016 |

    The U.S. Court of Appeals for the Third Circuit recently blocked a former employee of Nortel Networks Inc. from boosting his claim for long-term disability benefits as a part of the company's lengthy and expensive cross-border bankruptcy proceedings in Delaware.

  • Bankruptcy Reform in Saudi Arabia
    Bridging Islamic Law and Modern Bankruptcy?

    December 01, 2016 |

    In 2012, U.S. bankruptcy proceedings were for the first time used to restructure a shari'ah-compliant Middle Eastern business. Arcapita, a Bahranian private equity and investment firm, was referred to by some analysts as the first true post–financial-crisis Arabian company to undergo debt restructur

  • Creditor Exclusion: The Perils of D&O Coverage

    December 01, 2016 |

    The U.S. Court of Appeals for the Fifth Circuit recently held that a Creditor Exclusion provision in a directors and officers (D&O) insurance policy may result in significant limitations on the coverage provided to the D&Os, when the underlying dispute is with a creditor acting in its creditor capac

  • On the Move

    November 01, 2016 |

    Burr & Forman LLP has opened an office in Wilmington, DE. Rick Robinson, who is joining the firm as a partner in the firm's Creditors' Rights and…

  • Holders of Unredeemed Gift Cards Denied Bankpruptcy Priority

    November 01, 2016 |

    For some time now, the brick and mortar side of the retail industry has been in financial distress. In 2015 and 2016 alone, brand-name ­companies such as Sports Authority, RadioShack, Aéropostale, American Apparel, Eastern Mountain Sports and City Sports sought bankruptcy protection. A common questi

  • The Queen Is Dead, Long Live the Queen?

    November 01, 2016 |

    The automatic stay of 11 U.S.C. § 362 is one of the most important principles of bankruptcy law. It provides crucial breathing space for the debtor to reorganize or liquidate, and avoids the piecemeal dismemberment of the estate's assets. However, in rare instances, courts have extended stay protect

  • Millennium Lab

    October 14, 2016 |

    Prepetition, Millennium Lab Holdings II, LLC, Millennium Health, LLC, and RxAnte, LLC reached a settlement with various government entities relating to, among other things, claims against the Debtors for violations of the Stark law, Anti-Kickback Statute and FCA. Here's a discussion of this pivotal

  • Bankruptcy Code, International Trade Treaty Collide over Expense Status

    October 14, 2016 |

    It is inevitable that the Bankruptcy Code will sometimes intersect with international trade law, as it has done for decades with domestic commercial law. Those three domains recently came together in the context of a creditor's Section 503(b)(9) administrative expense claim, and a federal district