Bankruptcy Code, International Trade Treaty Collide over Expense Status
October 14, 2016
It is inevitable that the Bankruptcy Code will sometimes intersect with international trade law, as it has done for decades with domestic commercial law. Those three domains recently came together in the context of a creditor's Section 503(b)(9) administrative expense claim, and a federal district court was called upon to sort out which body of law took precedence.
Board of Editors
October 06, 2016
Accounting and Financial Planning for Law Firms
Lawrence L. Bell
Advisors, LLC, Kensington, MD
Wayne Berkowitz
Berdon LLP, New York
James…
The Troubled Energy and Production (Oil and Gas) Sector
September 01, 2016
The oil and gas exploration sector in North America has been crushed by high debt, globally low oil prices and regional overcapacity. The result: Over 100 oil and gas exploration and production companies have filed for bankruptcy over the past 18 months, and dozens more are expected to follow.
Should You Reconsider Your Bankruptcy Remoteness Strategy?
September 01, 2016
Two recent bankruptcy court decisions have highlighted certain weaknesses regarding bankruptcy remoteness ' a concept that typically arises in the context of structured finance and asset securitization transactions.
The Article 8 Opt In
September 01, 2016
When a lender provides financing to a commercial borrower, it typically requires the borrower to grant a security interest in some or all of the borrower's assets. Among many other types of assets or collateral, a borrower may be required to grant a security interest in stock or membership interests owned by the borrower, including stock or membership interests in the borrower's subsidiaries or affiliates.
Second Circuit Defines Adequate Capitalization
August 01, 2016
A debtor's pre-bankruptcy repurchase of its stock for $150 million was not a fraudulent transfer because the debtor "could have sold off enough of its assets or alternatively obtained sufficient credit to continue its business for the foreseeable future," held the Second Circuit in June 15.
The Newspaper Notice
August 01, 2016
Commercial reasonableness for the disposition of certain assets requires marketing that is both more specifically targeted and broader geographically than newspaper notice. Indeed, courts have so found.
Business Triage
August 01, 2016
There is a whole host of issues and concerns in each matter involving a troubled company. What is the best way to evaluate a company's chance of survival? Perform an assessment of issues that can help determine if a company will survive, and considering additional factors that can influence a company's chances.
