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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.
Notwithstanding myriad developments in corporate finance and restructuring over the last 20 years, bankruptcy remains an important, and often necessary, tool to help distressed companies reorganize debt obligations, streamline operations, and emerge as leaner, more profitable enterprises. To keep up with changing times, the practice of bankruptcy law also continues to evolve, as restructuring professionals and judges focus on making the process more accessible and cost effective.
By Louis F. Solimine, James J. Henderson and Andrew L. Turscak, Jr.
In a recent, unanimous opinion authored by Justice Ginsburg, the U.S. Supreme Court affirmed lower court decisions holding that a bankruptcy court order denying a motion for relief from the automatic stay constitutes a final order that must be appealed within the time provided under Federal Rule of Bankruptcy Procedure 8002.
By Rudolph J. Di Massa, Jr. and Geoffrey A. Heaton
The U.S. Bankruptcy Court for the Western District of Virginia recently denied creditors’ counsel’s motion for a fee enhancement under the “common fund doctrine,” finding it could not award the requested fees absent statutory authority.
By Lawrence J. Kotler
In the case of In re Solutions Liquidation, the U.S. Bankruptcy Court for the District of Delaware adjudicated a motion to dismiss filed by the debtors’ former managers and officers in connection with the breach of fiduciary duty complaint filed against them by the trustee of the debtors’ liquidating trust.
By Andrew C. Kassner and Joseph N. Argentina Jr.
The provisions of the Bankruptcy Code sometimes conflict with other federal laws and regulations. The Sixth Circuit Court recently considered whether an energy company debtor could reject a power purchase agreement as an executory contract that had been filed with the Federal Energy Regulatory Commission (FERC)