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Bankruptcy Venue Reform Bill Image

Bankruptcy Venue Reform Bill

ljnstaff

On Jan. 8, 2018, Senators John Cornyn (R-TX) and Elizabeth Warren (D-MA) introduced the Bankruptcy Venue Reform Act of 2018, which is designed to prevent forum shopping in Chapter 11 bankruptcy cases, a practice that has resulted in a concentration of bankruptcy cases in a few districts.

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Bankruptcy Court Authorizes Rejection of Employment Separation Agreements Image

Bankruptcy Court Authorizes Rejection of Employment Separation Agreements

Francis J. Lawall & Michael J. Custer

The Bankruptcy Code can be an effective tool for reducing liabilities and enhancing asset value for the benefit of creditors. One of the more important…

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Bankruptcy in a House of Worship Image

Bankruptcy in a House of Worship

James R. Selth & Eden Gillott Bowe

<b><i>A Public Relations Case Study</b></i><p>It's a story as old as time: A matter of the heart becomes a matter of revenge, power, and money for a scorned lover. Regardless of the reason, when an organization is pushed into bankruptcy, it requires an attention to detail, creativity, and compassion for how scary the term “bankruptcy” is for most people.

Features

Connecticut Supreme Court Defines Bankruptcy Effect on Contracts Image

Connecticut Supreme Court Defines Bankruptcy Effect on Contracts

Michael L. Cook

Bankruptcy “does not constitute a per se breach of contract and does not excuse performance by the other party in the absence of some further indication that the [debtor] either cannot, or does not, intend to perform,” held the Supreme Court of Connecticut in a lengthy opinion on Nov. 21, 2017. This article presents an analysis of the ruling.

Features

Employee Claims in Bankruptcy Pose Significant Liability Exposure Image

Employee Claims in Bankruptcy Pose Significant Liability Exposure

Shane G. Ramsey & David M. Barnes, Jr.

<b><i>Lessons Learned From </i>In re FPMI Solutions Inc.</b><p>There are litanies of potential pitfalls for companies that file for bankruptcy without strictly following the requirements of federal or state employment laws. This article discusses the requirements and how to meet them.

Features

Employee Claims in Bankruptcy Pose Significant Liability Exposure Image

Employee Claims in Bankruptcy Pose Significant Liability Exposure

Shane G. Ramsey & David M. Barnes, Jr.

When a corporation determines to file for Chapter 11 protection, questions concerning the status of existing labor and employment agreements and viability of employee claims immediately arise. Indeed, there are litanies of potential pitfalls for companies that file for bankruptcy without strictly following the requirements of federal or state employment laws.

Features

When 'Bankruptcy Remote' Meets Public Policy Image

When 'Bankruptcy Remote' Meets Public Policy

Pamela J. Martinson

<b><i>Serving Two Masters</i></b><p>This article examines two recent cases, and suggests practices that lenders to BREs can use to reduce the risk of a debtor bankruptcy without compromising the policies underlying bankruptcy and corporate laws.

Features

Substantive Non-Consolidation Opinion Letters: Advice for Bankruptcy Counsel Image

Substantive Non-Consolidation Opinion Letters: Advice for Bankruptcy Counsel

Paul A. Rubin & Hanh V. Huynh

Substantive non-consolidation opinion letters have long been a regular "check-the-box" item in large commercial real estate transactions. While substantive consolidation jurisprudence has not changed materially over the past decade, these opinion letters should not be treated lightly by borrowers or their counsel.

Features

Second Circuit Directs Consideration of an 'Efficient Market' Interest Rate for <b><i>Momentive</i></b> Cramdown Plan Image

Second Circuit Directs Consideration of an 'Efficient Market' Interest Rate for <b><i>Momentive</i></b> Cramdown Plan

Robert W. Dremluk

On Oct. 20, 2017, the U.S. Court of Appeals for the Second Circuit, in Momentive Performance Materials, Inc. v. BOKF, NA (In re MPM Silicones, L.L.C. "MPM")…

Features

Employee Claims in Bankruptcy Pose Significant Liability Exposure Image

Employee Claims in Bankruptcy Pose Significant Liability Exposure

Shane G. Ramsey & David M. Barnes, Jr.

<b><i>Lessons Learned From In Re FPMI Solutions Inc.</i></b><p>When a corporation determines to file for Chapter 11 protection, questions concerning the status of existing labor and employment agreements and viability of employee claims immediately arise. Indeed, there are litanies of potential pitfalls for companies that file for bankruptcy without strictly following the requirements of federal or state employment laws.

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