Features
Delaware District Court Could Guide Supreme Court Purdue Pharma Decision
A bankruptcy court properly held that derivative claims based on "piercing the corporate veil theory of liability [were] released under" a confirmed reorganization plan, but that direct "claims for negligent undertaking" were not released and "could be asserted" in state court against the debtors' equity sponsors.
Features
Court Caps Landlord's Bankruptcy Claim Against Lease Guarantor
A big issue in real estate and retail bankruptcies, among others, involves the disposition of commercial real estate leases, given the potential magnitude of landlord damage claims under state law resulting from a tenant's default under a long-term lease.
Features
Delaware Bankruptcy Court Rejects Equity Holder's Challenge to Revoke Confirmation Order
The equity owner asserted that the confirmation order previously entered by the court should be revoked based on the equity owner's claim that value was lost due to improper sale and marketing efforts by the debtors and its professionals both pre- and post-bankruptcy and, as such, they should have been "in the money" and entitled to a distribution under the confirmed plan.
Features
Is the 'Crypto Winter' Over?
One of the major catalysts of the "Crypto Winter" that began in 2022 was the collapse of Terraform Labs's native token LUNA in May 2022. Now two years and a dozen crypto-related bankruptcies later, Terraform Labs has filed for Chapter 11 protection.
Features
Overview of New UAE Bankruptcy Law
With the establishment of a specialized Bankruptcy Court and a dedicated Bankruptcy Unit, the introduction of preventive settlements, more flexible restructuring proceedings, and the expansion of potential liability, among other things, the new legislation is set to reshape the approach of law firms.
Features
Closing 'Unacceptable Loopholes': How Sex Abuse Claimants Could Gain Power In Chapter 11 Bankruptcies
New federal legislation proposes sweeping changes to how bankruptcy courts handle child sexual abuse claims in Chapter 11 proceedings, with supporters claiming the process has become a way for debtors to silence victims and avoid liability.
Features
Seventh Circuit Applies Safe Harbor to Private Securities Transaction
"… [T]he term 'securities contract' as used in [Bankruptcy Code] §546(e) unambiguously includes contracts involving privately held securities," The Seventh Circuit held in Petr v. BMO Harris Bank, N.A.
Features
Ninth Circuit Bankruptcy Appellate Panel: 523(a) Discharge Exceptions Don't Apply to Corporate Debtors Under Subchapter V
In Lafferty v. Off-Spec Solutions, the U.S. Bankruptcy Appellate Panel of the Ninth Circuit held that the discharge exceptions under Section 523(a) do not apply to corporate debtors under Subchapter V of Chapter 11 of the Bankruptcy Code.
Features
Biotech Industry Bankruptcy Case Update: 'Zymergen' and 'Humanigen'
This Bankruptcy Case Update focuses on the recent biotech industry bankruptcy cases of Zymergen and Humanigen.
Features
So Far In 2024, Law Firms Are Using Bankruptcy As a Springboard for Profit
With broad hopes for countercyclical consistency and a nearly 120% uptick in Chapter 11 filings in February specifically, law firms seem ready to use restructuring work as a significant plank in a profitable 2024.
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