• Features

    AE Liquidation: WARN Act Comfort for Debtors Attempting a 363 Sale, or Just the 'Putin Exception'?

    Russell C. Silberglied and Katherine M. Devanney

    In In re AE Liquidation, the Third Circuit held that a WARN Act notice only must be given when mass layoffs are probable, not when merely foreseeable. As a result, a debtor that was attempting to effectuate a going concern sale under Bankruptcy Code Section 363 was not liable for failing to give a WARN Act notice until the day it determined it could no longer wait for approvals from the buyer to close.

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  • Features

    Third Circuit Defines 'Received' for Section 503(B)(9) Claims

    Anthony Michael Sabino

    In Haining Wansheng Sofa Co., Ltd. v. World Imports, Ltd. (In re World Imports, Ltd.), the Third Circuit firmly declared that "received" in Section 503(b)(9) connotes actual physical custody of the goods by the debtor. This turnabout in the interpretation of the meaning of "received" is a significant development, given that such claims frequently arise in business bankruptcies.

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  • Features

    Ninth Circuit Reignites Debate over the Interplay of Sections 363, 365

    Alan R. Lepene, Andrew L. Turscak, Jr. and Louis F. Solimine

    Bankruptcy Code sections 363 and 365 provide different rights for different parties, and they usually operate independently of one another. However, in situations where the two sections overlap, a number of courts have held they are in conflict, because a party invoking one of the provisions will seek to override the interest of a party invoking the other.

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  • Columns & Departments

    On the Move

    Kobre & Kim LLP announced that Daniel Saval has joined the firm's cross-border insolvency litigation practice as a partner in the New York office.…

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