• Features

    How the New UST Fee Schedule Is a Ticking Tax-Bomb for Middle Market Debtors

    Jacob H. Marshall and Randall Klein

    As of Jan. 1, 2018, each jointly administered debtor with quarterly disbursements of at least $1,000,000 must pay a fee of 1% of all disbursements, up to $250,000 per quarter. Although this change in the law was only intended to address shortfalls in UST funding, it has taken a little-noticed component of bankruptcy and magnified it into a ticking tax-bomb for unsuspecting debtors and their lenders.

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  • Features

    Ninth Circuit Ruling Eases Plan Acceptance Requirement in Multi-Debtor Plans of Reorganization

    Adam H. Friedman, Jonathan T. Koevary and Lauren B. Irby

    In a case of first impression at the circuit level, the United States Court of Appeals for the Ninth Circuit held that section 1129(a)(10) of the Bankruptcy Code — which requires a favorable vote of at least one impaired class of creditors in order to confirm a Chapter 11 plan — applies on a “per-plan” basis, rather than a “per-debtor” basis.

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  • Features

    SCOTUS Recap: What Lies Ahead for the Lower Courts’ Tests for “Non-Statutory Insiders”

    Daniel A. Lowenthal and J. Taylor Kirklin

    Ultimately, Village at Lakeridge is noteworthy for what the Supreme Court did not decide. In granting certiorari, the Supreme Court declined to address whether the lower courts’ various “non-statutory insider” tests should be refined. As concurrences from Justices Sotomayor and Kennedy emphasized, though, that issue is ripe for increased scrutiny.

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