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The automatic stay of 11 U.S.C. § 362 is one of the most important principles of bankruptcy law. It provides crucial breathing space for the debtor to reorganize or liquidate, and avoids the piecemeal dismemberment of the estate’s assets. Among other things, it stays “the commencement or continuation … of a judicial, administrative, or other action or proceeding against the debtor that was or could have been commenced before the commencement of the case under this title.” While the scope of the automatic stay’s protection is broad, it is generally limited to a debtor.
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By Jeffery Lula
In today’s volatile economic climate, companies need to be more creative to find ways to mitigate risk. Litigation finance is one of those out-of-the-box solutions that can provide benefits.
By Michael L. Cook
The Second Circuit, on remand from the U.S. Supreme Court, further remanded to the district court the key issue of whether the Chapter 11 debtor gave “adequate assurance of future performance of” a commercial real property shopping center lease “as required by [Bankruptcy Code] §365(b)(3)(A),” after the debtor’s assignment of its lease.
By Lawrence J. Kotler and Ryan Spengler
While this case does not fully open the courthouse doors to cannabis-related businesses and seemingly grants the bankruptcy courts a great deal of discretion when ruling on similar cases in the future, cannabis-related businesses may now have a roadmap to pursue reorganization.
By Francis J. Lawall and Brenden S. Dahrouge
In upholding the bankruptcy court’s determination that the payment of insurance proceeds could be such a transfer, the Fifth Circuit underscored the complex interplay between state law, bankruptcy law and the rights of creditors in bankruptcy proceedings.