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Features
While this case does not fully open the courthouse doors to cannabis-related businesses and seemingly grants the bankruptcy courts a great deal of discretion when ruling on similar cases in the future, cannabis-related businesses may now have a roadmap to pursue reorganization.
Features
In upholding the bankruptcy court's determination that the payment of insurance proceeds could be such a transfer, the Fifth Circuit underscored the complex interplay between state law, bankruptcy law and the rights of creditors in bankruptcy proceedings.
Features
A Q&A with the team working on the Alex Jones/Sandy Hook case in bankruptcy court in Texas, who provides an inside look at the case, their strategy, and some takeaways.
Features
WeWork's Chapter 11 bankruptcy has stayed a Manhattan Commercial Division decision allowing plaintiffs to dig around in 11 years of the tanked company's finances — but observers say it's likely creditors will now try to pierce the corporate veil in the bankruptcy proceeding.
Features
Pundits are raving about the current increase in business bankruptcy cases. But they rarely, if ever, mention the spike in bankruptcy appeals. A brief survey of recent decisions shows that appellate courts are, among other things, finding ways to (a) avoid making decisions or to (b) avoid litigation delay and uncertainty by expediting appellate review. Practitioners can avoid surprises by grasping what these courts are actually doing.
Features
Many clients are not aware that the Bankruptcy Code provides that, upon the filing of a bankruptcy case, the receiver is required to give back possession of the mortgaged property to the debtor unless the lender obtains an order from the Bankruptcy Court excusing the receiver from this requirement.
Features
To formulate a reinstatement plan that will survive challenges, debtors and creditors should heed the lessons from two high-profile reinstatement cases from the Southern District of New York that were decided just months apart: Charter Communications and Young Broadcasting.
Features
Unable to absorb the potential cost of federal, state and private lawsuits over allegations that it, along with other drugstore chains, oversupplied prescription painkillers, Rite Aid filed for bankruptcy protection in September.
Features
The Eighth Circuit's decision in Simply Essentials has practical significance for Chapter 11 debtor in possession (DIP) lenders. U.S. Trustees and unsecured creditors regularly object to the granting of liens on avoidance actions, but this and other appellate rulings should now eliminate the purported legal obstacle.
Features
When restructuring or liquidating a non-U.S.-based company with U.S. operations, practitioners should consider the benefit and efficiency of utilizing the company's home country laws under a foreign proceeding and a Chapter 15 in the United States.