Features
New Bankruptcy Code May Provide Way Out of Commercial Leases
In major metropolitan areas, commercial office vacancies have skyrocketed and rents have plummeted. Tenants, required to examine their space needs post-pandemic, are eager to take advantage of the lower rents. A recent addition to the Bankruptcy Code provides these lessees with an opportunity to walk away from above-market leases.
Features
Eleventh Circuit Stops Plan Confirmation Stampede
In a recent ruling, the Eleventh Circuit upended a hastily confirmed reorganization plan. Its holding should stop the stampede known as the "confirmation express."
Features
Treating Student Loan Debt Relief By Standardizing 'Undue Hardship' In Bankruptcy Code
On Aug. 24, 2022, President Joe Biden announced the plan to forgive up to $10,000 in federal student debt for qualifying borrowers. This relief, however, was challenged in the courts and is now pending before the U.S. Supreme Court.
Features
Duties of and Risks to Directors and Officers of Insolvent Enterprises
Traditionally, the bankruptcy risk for D&Os has been fairly low. Several recent developments have, however, shifted the landscape somewhat and altered the risk profile.
Features
Online Extra: In 'Landmark' Win for Talc Plaintiffs, Third Circuit Dismisses Johnson & Johnson Unit's Bankruptcy
On Jan. 30, the U.S. Court of Appeals for the Third Circuit reversed a bankruptcy judge's decision, concluding that Johnson & Johnson subsidiary LTL Management was not in financial distress at the time it filed its Chapter 11 case in 2021.
Features
U.S. Bankruptcy Court Denies Chapter 15 Recognition to a Case on the Isle of Man
Cases interpreting Chapter 15 of the Bankruptcy Code after it was enacted in 2005 often addressed basic issues, such as whether a foreign debtor must have property in the U.S to file a case there. But even when there's no property in the U.S., there's an easy remedy: the foreign administrator can deposit a retainer payment with its U.S. law firm.
Features
The NFT Market and Fallout from the FTX Scandal
The FTX bankruptcy scandal that has shaken the largely unregulated cryptocurrency world has slowed but isn't likely to end the roll-out of celebrity-related, non-fungible digital token (NFT) offerings. But how might the FTX story impact a push for federal regulation of the NFT market?
Features
Appellate Review of a Bankruptcy Court's Preliminary Injunction
A bankruptcy court preliminary injunction should be reviewable as of right because of Supreme Court precedent, the rulings of other courts and common sense.
Features
Second Circuit Orders Refund of Unconstitutional Quarterly Fee Overpayment
Many practitioners have been speculating as to how courts will address the potential remedy for the unconstitutional U.S. trustee fees imposed against Chapter 11 debtors pending in U.S. trustee districts under the 2017 amendment to 28 U.S.C. Section 1930.
Features
What's In Store for Bankruptcy In 2023?
Practitioners Weigh In If anyone was holding out hope for a tidal wave of corporate bankruptcies in 2022, it's time to abandon ship. If that was part of your 2023 budget, don't get on the ship altogether.
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