'Would You Like Fries with That?'
July 27, 2010
Recent court decisions addressing the classification of "goods" versus "services" have shed some light on the proper definition of "goods" in the context of whether a particular claim is for "goods" under ' 503(b)(9). However, these decisions have left open some key questions.
Municipal Bankruptcy: Coming Soon to a Court Near You
July 27, 2010
As tax revenues have declined in the face of falling incomes, sales and property values, more cities small and large have disclosed that resort to Chapter 9 of the Bankruptcy Code, the municipal bankruptcy law, has made it onto their agendas.
BAPCPA: Another Nail in the Coffin of Retail Reorganizations
June 18, 2010
BAPCPA has had a profound effect on retail reorganizations, particularly, the restriction on bankruptcy courts' broad discretion to extend debtors' time to assume or reject leases. This shortened time period, a maximum of 210 days, has been alleged to be responsible for the death of retail reorganizations.
Seller, Beware
June 18, 2010
Companies that continue to supply to a customer after the customer files for Chapter 11 bankruptcy protection should take note of a recent decision from the Eleventh Circuit that required a supplier to return the money it was paid by a Chapter 11 debtor ' for goods shipped to the debtor post-petition ' because the debtor did not have authority to make the payment in the first place.
The Challenge of Determining Enterprise Value in Volatile Markets
June 18, 2010
Arguments about value lie at the heart of many disputes in Chapter 11 cases. Yet, despite how critical it is to the outcome of these cases, bankruptcy courts often have extreme difficulty determining value. This makes valuation a fertile source of litigation.
Leveraged Buyouts Made Less Safe from Fraud Actions in Delaware
May 25, 2010
In the recent decision in <i>Mervyn's, LLC v. Lubert-Adler Group IV, LLC</i> (<i>In re Mervyn's Holdings LLC</i>), a Delaware bankruptcy court allowed a debtor to proceed with a suit against its former parent, alleging a fraudulent conveyance and breach of fiduciary duty to the debtor and its creditors.
Qualified Intermediary Bankruptcies
May 25, 2010
A look at the Land America bankruptcy, in which approximately 450 individual exchangers suddenly lost legal possession of their exchange proceeds when Land America filed for bankruptcy.
