• Features

    Fifth Circuit Subordinates Claim for Deemed Dividends

    Michael L. Cook

    “… [P]ayments owed to a shareholder by a bankrupt debtor, which are not quite dividends but which certainly look a lot like dividends, should be treated like the equity interests of a shareholder and subordinated to claims by creditors of the debtor,” held the U.S. Court of Appeals for the Fifth Circuit.

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  • Features

    8th Circuit Affirms Dismissal of Lawsuit Attacking Approved Bankruptcy Sale

    Andrew C. Kassner and Joseph N. Argentina Jr. 

    Sales of substantially all of a debtor’s assets are commonplace in corporate Chapter 11 bankruptcies. The sale is supervised and approved by the Bankruptcy Court. Purchasers desire to know that if the sale is consummated, they will be protected from subsequent attacks on the sale and the sale process and presumably more bidders will participate, resulting in greater returns for the estates and creditors. Issues surrounding the finality of a bankruptcy sale were recently reviewed by the U.S. Court of Appeals for the Eighth Circuit.

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  • Features

    Something to Remember: The Flexibility of Chapter 11 in Retail Situations

    Christopher T. Greco, Spencer A. Winters and Derek I. Hunter

    In the face of increasing pressure from online retailers, and declining foot-traffic in malls and other brick-and-mortar locations, distressed retailers like Things Remembered need to act expeditiously to execute going-concern transactions if they are going to survive the market disruption.

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  • Features

    Mitigating Lender Risk in Constructive Fraudulent Transfer Litigation

    Arthur Steinberg and Michael R. Handler

    Lenders must carefully analyze the full ramifications of how best to approach the constructive fraudulent transfer issue when it emerges in their bankruptcy case.

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