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Creditor Committees in 'Meltdown' Chapter 11 Cases
Due to a number of forces, most importantly the global recession and the resulting global macroeconomic conditions, creditor committees are now having difficulty in finding their role in many Chapter 11 cases.
Many factors, including rapid declines in asset values, means that many secured lenders find themselves holding loans that are vastly under-collateralized. At the same time, the credit markets have all but dried up and companies in distress are being left with virtually no opportunities to refinance their debt, even if they haven't experienced a significant decline in the value of their assets. When this is coupled with the loss of cash flows that many businesses are experiencing as a result of the global recession, a great number of companies that would have previously survived difficult times are left with little choice other than to seek protection under Chapter 11. Exacerbating these circumstances is that many banks and other lenders have found that now is the most opportune time to shed underperforming loans regardless of the loss they incur in order to clean up their balance sheets. This means that certain lenders are more inclined to want to just get out, regardless of the losses realized.
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Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
Judge Rules Shaquille O'Neal Will Face Securities Lawsuit for Promotion, Sale of NFTs
A federal district court in Miami, FL, has ruled that former National Basketball Association star Shaquille O'Neal will have to face a lawsuit over his promotion of unregistered securities in the form of cryptocurrency tokens and that he was a "seller" of these unregistered securities.
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
Blockchain Domains: New Developments for Brand Owners
Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.
Coverage Issues Stemming from Dry Cleaner Contamination Suits
In recent years, there has been a growing number of dry cleaners claiming to be "organic," "green," or "eco-friendly." While that may be true with respect to some, many dry cleaners continue to use a cleaning method involving the use of a solvent called perchloroethylene, commonly known as perc. And, there seems to be an increasing number of lawsuits stemming from environmental problems associated with historic dry cleaning operations utilizing this chemical.