• Features

    Chapter 11 Plan Support Agreements: Greasing the Wheels for Confirmation Success

    John J. Rapisardi and Joseph Zujkowski 

    Plan support agreements are often an essential component of a successful complex Chapter 11 reorganization and provide a framework for a debtor’s financial restructuring. These agreements have increasingly been used to induce core groups of major lenders and bondholders to support a debtor’s restructuring in return for enhanced recoveries.

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  • Features

    Uniform Voidable Transactions Act Signed Into Law in NY

    Thomas R. Slome, Michelle McMahon and Sophia Hepheastou

    On Dec. 6, 2019, Gov. Andrew Cuomo signed legislation modernizing New York’s 95-year-old fraudulent conveyance law and making it consistent with the U.S. Bankruptcy Code and the law of at least 44 other states. The Uniform Voidable Transactions Act (UVTA) primarily clarifies the rights and remedies of parties involved in transactions with financially distressed entities.

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  • Features

    Changing Outcomes Through a Reservation of Rights

    Francis J. Lawall and Kenneth A. Listwak

    In the day-to-day practice of bankruptcy law, it may occasionally be tempting to dismiss “reservation of rights” language as unnecessary or unimportant — after all, a pragmatically minded court will consider the economic reality of the case before it. Right? Well, the U.S. District Court for the District of Delaware’s recent ruling in Emerald Capital Advisors v. Victory Park Capital Advisors (In re KII Liquidating) demonstrates the flaws in that way of thinking.

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  • Features

    The Small Business Reorganization Act: A New Bankruptcy Law for Small Businesses

    Zach Shelomith

    The advantages of Chapter 11 bankruptcy are oftentimes unavailable to small businesses and its owners. The substantial disclosure and reporting requirements alone scare off many potential debtors. In response to this problem, Congress recently created the Small Business Reorganization Act of 2019.

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