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Bankruptcy and restructuring attorneys Nancy A. Mitchell, Maria J. DiConza, and Matthew Hinker have joined the New York office of O’Melveny & Myers LLP. Ms. Mitchell and Ms. DiConza will join as partners and Mr. Hinker as counsel. All three previously practiced together at Greenberg Traurig, where Ms. Mitchell was co-chair of the firm’s Global Restructuring and Bankruptcy practice and co-managing shareholder of the New York office. Ms. DiConza, brings more than 20 years of experience in complex financial restructuring and debtor and lender/creditor representations across industries including food services, municipal, healthcare, manufacturing, energy, financial services, and for-profit education. Mr. Hinker focuses his practice on complex Chapter 11 bankruptcy proceedings, adversary proceeding litigation, and other insolvency-related matters.
By Peter Janovsky
A debtor’s goal in a Chapter 11 Bankruptcy is to confirm a “plan of reorganization.” Creditors usually have the right to vote for or against a plan, and in some cases, a plan can be confirmed over the objection of one or more classes of creditors. This is called a “cram-down.” The Bankruptcy Code’s rules governing cram-down are complex and differ for secured and unsecured classes of creditors. This article shows how bankruptcy courts have ruled on a particular method of cram-down known as a “dirt-for-debt” plan.
By Aaron R. Cahn
Any Cannabis-Related Business or Any Business In a Relationship With One Will Likely Find Itself Barred from the Door of the Federal Bankruptcy Courts
The ability to file a federal bankruptcy case is an important resource for struggling businesses. It is particularly important to start-up businesses in an emerging field, such as the production and marketing of cannabis-related products. It is precisely this resource, however, that is currently being denied to cannabis-related businesses.
By Mark D. Silverschotz
The new decision is significant because lawsuits against former (and current) officers and directors of debtors commonly are brought, as here, by trusts established under plans of reorganization. Because insurance policies often are the only viable source of recovery for the claims asserted in such lawsuits, this decision potentially opens a pathway to creditor recovery in other similar matters.
By Chris Updike and Joseph Zujkowski
Faster, Shorter, Smarter, Better
Among other trends, practitioners are increasingly using pre-packaged and pre-negotiated cases, drafting clearer and more concise pleadings, employing smarter deposit management practices, and harnessing improved technology — strategies for a new era of bankruptcy.