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It has been said by many, in many different ways and in many different settings, that “desperate times call for desperate measures.” Practically since its enactment more than 40 years ago, that idiom has been the foundation of various business and legal strategies employed by those clinging to the Bankruptcy Code while pressing an argument in court for some form of relief. Indeed, the Bankruptcy Code is, by all accounts, a safe harbor for businesses and people in search of a “fresh start,” a venue to liquidate in an orderly fashion or just the opportunity to demonstrate that it is worth saving through a balance sheet and/or operational restructuring. Current times are desperate indeed, as the impact of the pandemic rages on and, in its path leaves many businesses and industries demolished or, at best, severely impaired. Once again, the Bankruptcy Code has been called upon to provide relief to those in dire need, relief that could certainly be called extraordinary in many respects.
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By Daniel Coyle
Chapter 15 specifically allows foreign representatives to conduct discovery in the U.S., but be wary of other entities that seek to distract and/or delay the Foreign Representative from the asset search.
By Michael L. Cook
Judicial hair-splitting, when applying state law to federal bankruptcy cases, creates only uncertainty.
By Francis J. Lawall and Marcy J. McLaughlin Smith
The common interest doctrine can be a powerful tool when used to block discovery of relevant and sometimes critical evidence. However, a determination of when it can be invoked requires a highly fact-intensive analysis.
By Earl M. Forte
Chapter 11 work can be episodic and uneven, and while litigation skills are essential, it is also quite specialized. So, given these qualities, how does a bankruptcy litigator go about moving from one law firm to another, and what are the pitfalls?