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Following Uptick In 2023, Bankruptcy Lawyers Are Expecting a Busy 2024
Predictions of an uptick in bankruptcy filings came true this year, and bankruptcy lawyers are expecting a steady continuation into 2024, with the use of alternative approaches continuing to increase.
Bankruptcies this year accelerated compared with last year, according to Cornerstone Research. The wave of bankruptcies took out big names such as Silicon Valley Bank and Bed Bath & Beyond. The trend was particularly pronounced within the crypto sector, and with Subchapter V filings enabling small businesses to reorganize more easily, smaller companies also saw more cases.
"We're definitely seeing and feeling that increase in volume, and that is both in the big and small segments of the market," said David Rosendorf, a bankruptcy-focused partner at Miami-based Kozyak Tropin & Throckmorton. "I think the numbers are in line with what expectations were. I'm not a prognosticator, but I expect we're going to see that trend continue."
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'Huguenot LLC v. Megalith Capital Group Fund I, L.P.': A Tutorial On Contract Liability for Real Estate Purchasers
In June 2024, the First Department decided Huguenot LLC v. Megalith Capital Group Fund I, L.P., which resolved a question of liability for a group of condominium apartment buyers and in so doing, touched on a wide range of issues about how contracts can obligate purchasers of real property.
How Secure Is the AI System Your Law Firm Is Using?
In a profession where confidentiality is paramount, failing to address AI security concerns could have disastrous consequences. It is vital that law firms and those in related industries ask the right questions about AI security to protect their clients and their reputation.
The Power of Your Inner Circle: Turning Friends and Social Contacts Into Business Allies
Practical strategies to explore doing business with friends and social contacts in a way that respects relationships and maximizes opportunities.
Pleading Importation: ITC Decisions Highlight Need for Adequate Evidentiary Support
The International Trade Commission is empowered to block the importation into the United States of products that infringe U.S. intellectual property rights, In the past, the ITC generally instituted investigations without questioning the importation allegations in the complaint, however in several recent cases, the ITC declined to institute an investigation as to certain proposed respondents due to inadequate pleading of importation.
Compliance and Third-Party Risk Management
To gauge the level of risk and uncover potential gaps, compliance and privacy leaders should collaborate to consider how often they are monitoring third parties, what intelligence they are gathering with and about their partners and vendors, and whether their risk management practices have been diminished due to cost and resource constraints.