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Attorneys general from 41 states, along with Puerto Rico and Guam, have issued a statement in support of legislation before Congress geared toward stopping corporations from venue-shopping bankruptcy cases.
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Third Circuit Rejects Side-Switching Disqualification Claim
By Michael L. Cook
Conflicts of interest among clients are a chronic problem for law firms with many clients. How law firms address the problem — and they must — is what the Boy Scouts of America decision shows.
Stipulation That Resolves Entire Amount Must Reflect Intent of Parties
By Francis J. Lawall and Kenneth A. Listwak
The Ninth Circuit recently affirmed a lower courts’ rulings that a stipulation between the IRS and a bankruptcy trustee, which allowed the IRS’s priority tax claim, did not prevent the IRS from collecting nondischargeable tax debt above the agreed amount in that stipulation.
Increased Bankruptcy M&A Activity Should Provide Attractive Opportunities for Lenders
By Joel H. Levitin and Richard A. Stieglitz Jr.
It seems clear that bankruptcy filings inevitably will increase in the near future, because of rising interest rates, pandemic-related micro-economic forces, global strife, and other macro-economic factors and their continuing strain on the global economy and individual businesses. Consequently, strategic buyers and private equity sponsors should find expanding opportunities to purchase distressed businesses out of bankruptcy.
The Interplay Between Vendor Finance Agreements and Bankruptcy
By Ann Pille, Richard Tannenbaum, Alexis Leventhal and Emily Costantinou
While regularly used among lenders, manufacturers, and dealers, treatment of Inventory financing program agreements in bankruptcy is not uniform, and uncertainty exists with respect to how such agreements may be treated in the context of a manufacturer’s Chapter 11.
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