In a post-Purdue world — where non-consensual third-party releases are prohibited — bankruptcy practitioners and courts alike have been required to consider and determine what exactly “consent” means for purposes of soliciting such releases.
New York City laws and regulations relating to buildings provide for many different fees and charges payable to the city which can become liens on the property. While most of these liens will be subordinate to prior recorded mortgages and thus extinguished in a mortgage foreclosure, that is not universally the case,
A federal bankruptcy court in New Jersey recently dismissed a Chapter 11 filing from former board members of national fashion retailer Ashley Stewart, Inc., securing a win for Roseland firm Mandelbaum Barrett’s bankruptcy practice and emphasizing the importance of corporate governance structure in bankruptcy disputes.
A New York bankruptcy judge refused to dismiss Boies Schiller Flexner’s more than decade-old effort to hold Citibank liable on a class basis for allegedly refusing to notify credit reporting agencies of bankruptcy court orders discharging certain consumer debts.
Annual rate increases at Am Law 100 firms continued to exceed 10% this January in rate increase notices that Big Law firms filed in ongoing corporate bankruptcies. Meanwhile, rate hikes at three Second Hundred law firms showed rate increases by less than 10% for most levels of attorney, although two firms issued bigger bumps for senior associates.
Vigilance in detecting red flags—such as declining cash flow, increasing debt and falling sales—can help prevent severe outcomes, like bankruptcy, and provide an opportunity for management to make necessary adjustments, restructure operations, or seek external help.
Sanchez shows the limits of bankruptcy jurisdiction in concrete terms. In the court’s hard-hitting analysis, the decision should at least convince bankruptcy courts to avoid hearing most post-confirmation and unrelated third-party disputes.
A recent decision by Bankruptcy Judge Brendan Shannon was peppered with some harsh words for a defendant in an adversary proceeding. Judge Shannon said the party’s “failure to perform basic discovery responses and participation in litigation … has been breathtaking."
Litigation funding, has become a sophisticated big business. These funders expect substantial return for funding litigation costs up front and taking on the risk of low or no recovery. But how should such agreements be structured?
Langston serves as a reminder that the expiration of a deadline in the Rules may not be the final word on the matter. While not often the case, there may be an equitable defense to an expired deadline.
