Follow Us
Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
Transactions involving distressed companies, or healthy companies that become distressed, are often attacked as fraudulent transfers. These transactions include leveraged buy-outs, dividend recaps, spin-offs, substantial asset sales and other garden-variety transfers. To determine whether a transfer (or obligation) can be avoided as fraudulent, courts generally examine the effect of the transfer on the transferor’s assets —€ i.e., whether the transfer infringes on creditors’ rights to realize upon available assets of the transferor. The focus is from the creditor’s perspective as to what the transferor surrendered (or obligation it incurred) and what the transferor received.
Continue reading by getting
started with a subscription.
Seventh Circuit Applies Safe Harbor to Private Securities Transaction
By Michael L. Cook
“… [T]he term ‘securities contract’ as used in [Bankruptcy Code] §546(e) unambiguously includes contracts involving privately held securities,” The Seventh Circuit held in Petr v. BMO Harris Bank, N.A.
By Lawrence J. Kotler and Elisa Hyder
In Lafferty v. Off-Spec Solutions, the U.S. Bankruptcy Appellate Panel of the Ninth Circuit held that the discharge exceptions under Section 523(a) do not apply to corporate debtors under Subchapter V of Chapter 11 of the Bankruptcy Code.
Merchant Cash Advances Could Be More Trouble Than They’re Worth
By Joseph Pack and Jessey Krehl
As small-business owners have continued to struggle in an uncertain economy, a growing number have begun the dangerous practice of relying on merchant cash advances — essentially seeking financial shelter in a lion’s den.
Biotech Industry Bankruptcy Case Update: ‘Zymergen’ and ‘Humanigen’
By Edward E. Neiger, Marianna Udem and Joo Hee Park
This Bankruptcy Case Update focuses on the recent biotech industry bankruptcy cases of Zymergen and Humanigen.
Copyright © ALM Global, LLC. All Rights Reserved.
