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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 Bankruptcy practice, will manage the office. Formerly a partner at Reed Smith, Robinson represents lenders, borrowers, debtors-in-possession, liquidators, buyers, creditors, consultants, lessors, contractors, trustees and receivers in every aspect of business bankruptcy and insolvency law. Burr & Forman’s Creditors’ Rights and Bankruptcy Practice has more than 30 attorneys across the firm’s Southeastern footprint, and now Wilmington.
By Michael L. Cook
“… [P]ayments owed to a shareholder by a bankrupt debtor, which are not quite dividends but which certainly look a lot like dividends, should be treated like the equity interests of a shareholder and subordinated to claims by creditors of the debtor,” held the U.S. Court of Appeals for the Fifth Circuit.
By Andrew C. Kassner and Joseph N. Argentina Jr.
Sales of substantially all of a debtor’s assets are commonplace in corporate Chapter 11 bankruptcies. The sale is supervised and approved by the Bankruptcy Court. Purchasers desire to know that if the sale is consummated, they will be protected from subsequent attacks on the sale and the sale process and presumably more bidders will participate, resulting in greater returns for the estates and creditors. Issues surrounding the finality of a bankruptcy sale were recently reviewed by the U.S. Court of Appeals for the Eighth Circuit.
By Christopher T. Greco, Spencer A. Winters and Derek I. Hunter
In the face of increasing pressure from online retailers, and declining foot-traffic in malls and other brick-and-mortar locations, distressed retailers like Things Remembered need to act expeditiously to execute going-concern transactions if they are going to survive the market disruption.
By Arthur Steinberg and Michael R. Handler
Lenders must carefully analyze the full ramifications of how best to approach the constructive fraudulent transfer issue when it emerges in their bankruptcy case.