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Bankruptcy Trustees

Morrison & Foerster LLP - Social Media

Socially Aware: Fake Reviews, Real Rulings, And An Epic Fail

The Federal Trade Commission’s new rules banning phony online reviews are now in effect. These rules aim to curb false consumer testimonials, the buying of fake reviews from brokers, review suppression, falsifying social...more

Rivkin Radler LLP

Justices’ Ch. 11 Ruling Is A Big Moment For Debtors’ Insurers

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In one of the most publicized terms for the U.S. Supreme Court, one June decision has not received the attention it deserves: Truck Insurance Exchange v. Kaiser Gypsum Company Inc. Truck upends decades of Chapter 11...more

Husch Blackwell LLP

Protecting Energy Project Buyout Rights From Developer Bankruptcy

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Energy development contracts commonly permit landlords (on whose land the energy project is constructed) a buyout right with respect to the project, often for a nominal payment… but that right isn’t guaranteed in the event of...more

Perkins Coie

FDIC’s Proposed Changes to Custodial Deposit Accounts: Practical Implications for Fintechs and Their Banks

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The Federal Deposit Insurance Corporation (FDIC) issued a Notice of Proposed Rulemaking (the Proposal) on September 17, 2024, that seeks to strengthen recordkeeping for bank deposits held by nonbank companies on behalf of...more

McGlinchey Stafford

Priority of IRS Liens in Bankruptcy: Reminder That the King Gets Paid First

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So starts the opinion of the United States Court of Appeals for the Ninth Circuit in United States v. MacKenzie: “As Benjamin Franklin said, ‘nothing is certain except death and taxes.’ But how certain are taxes in a Chapter...more

Fox Rothschild LLP

The Impact of Purdue Pharma

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It has been approximately two months since the highly anticipated Supreme Court decision in Harrington v. Purdue Pharma L.P., and it is already making a significant impact in bankruptcies around the country. In September...more

Dunlap Bennett & Ludwig PLLC

Opportunities In Distressed M&A: A Guide For Buyers

Distressed mergers and acquisitions (M&A) involve companies in financial or operational distress, potentially on the brink of insolvency or already grappling with significant debt burdens. These transactions are typically...more

King & Spalding

Bankruptcy Appellate Panel of the Tenth Circuit Rejects Claw Back for Third Party Guaranty

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On February 21, 2024, the U.S. Bankruptcy Appellate Panel of the Tenth Circuit held that a debtor who receives several direct benefits from a loan to an operating company has received “reasonably equivalent value” in exchange...more

Jones Day

Business Restructuring Review Vol. 23 No. 4 | July–August 2024

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The U.S. Supreme Court handed down three bankruptcy rulings to finish the current Term. The decisions address the validity of nonconsensual third-party releases in chapter 11 plans, the standing of insurance companies to...more

Jones Day

Ohio Bankruptcy Court Offers Guidance on (the Amended) Ordinary Course Payment Preference Defense

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To encourage vendors and other creditors to continue doing business with financially distressed entities, the Bankruptcy Code includes various defenses to litigation brought by a bankruptcy trustee or chapter 11...more

Jones Day

First Impressions: Seventh Circuit Rules that the Bankruptcy Code's "Safe Harbor" for Securities Contracts Transfers Applies to...

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Section 546(e) of the Bankruptcy Code's "safe harbor" preventing avoidance in bankruptcy of certain securities, commodity, or forward-contract payments has long been a magnet for controversy. Several noteworthy court rulings...more

Shipkevich PLLC

Colorado Bankruptcy Trustees Target Debt Settlement Service Providers with Ambitious Interpretation of Statutory Damages

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Colorado bankruptcy trustees have recently been increasing their focus on debt settlement companies and attorneys alleged to be performing services in violation of the Colorado Uniform Debt-Management Services Act (“CUDMSA”...more

Rosenberg Martin Greenberg LLP

Timing May Be Everything When Employing Bankruptcy Professionals

When Byron David filed a Chapter 7 bankruptcy case in July of 2018, Donald King was appointed Chapter 7 trustee. King filed an application to retain a law firm as his counsel. The bankruptcy court granted that application....more

Fleurinord Law PLLC

How Irrevocable Trusts Can Protect Assets from Bankruptcy & Divorce in Florida

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In the complex world of estate planning, irrevocable trusts offer a robust mechanism for protecting assets from various threats, including bankruptcy and divorce. This article delves into the specific protections offered by...more

Fox Rothschild LLP

The Circuit City Landmine Redux, the Final Word (Office of the United States Trustee v. John Q. Hammons Fall 2006, LLC): Supreme...

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As previously discussed and anticipated in prior blog posts, the United States Supreme Court’s decision in Siegel v. Fitzgerald, 596 U.S. 464, 142 S.Ct. 1770, 213 L.Ed.2d 39 (2022), which struck down as unconstitutional the...more

Fox Rothschild LLP

Outlook Still Hazy for Cannabis Companies’ Access to Bankruptcy

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If finalized, the Drug Enforcement Administration’s (DEA) recent recommendation to reclassify cannabis from a Schedule I to a Schedule III substance has the potential to open important doors to businesses in the legal...more

Charles E. Rounds, Jr. - Suffolk University...

The Case For Making Substantial Unrestricted Gifts To A Charitable Corporation Indirectly Via Assignment To An Independent...

When considering how to make a substantial gift to a charitable corporation, one should not rule out making it indirectly via assignment to an independent trustee. First, an independent trusteeship facilitates proper asset...more

Ward and Smith, P.A.

Don't Disrespect the Receivership

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A recent decision by the North Carolina Business Court highlights the risks of interfering with property that is part of a receivership estate. The North Carolina Commercial Receivership Act celebrated its three-year...more

King & Spalding

The Seventh Circuit Upholds District Court’s Decision That Safe Harbor Provision of Section 546(e) Applies to Privately Held...

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A recent ruling from the United States Court of Appeals for the Seventh Circuit provides additional comfort for lenders receiving full repayment in connection with leveraged acquisitions. The U.S. Bankruptcy Code gives...more

Levenfeld Pearlstein, LLC

Subchapter V Trustee Fees Protected as Administrative Expenses Outside the Ordinary Course of Business

Since its inception, Subchapter V of chapter 11 of the United States Bankruptcy Code has raised novel questions for practitioners to consider and, ultimately, for courts or legislators to address. One of these issues – the...more

Jones Day

Texas Bankruptcy Court: Debtor's Non-Economic Rights Under LLC Agreement Are Estate Property Protected by Automatic Stay

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The Bankruptcy Code invalidates "ipso facto" clauses in executory contracts or unexpired leases that purport to modify or terminate the contract or lease (or the debtor's rights or obligations under the contract or lease)...more

Davies Ward Phillips & Vineberg LLP

2023 Business Insolvencies in Canada

As we predicted in earlier issues of Davies Insolvency Now, the year 2023 reflected the anticipated increase in business insolvency activity. In this issue, we perform a comparative review of business insolvencies from 2023,...more

King & Spalding

The 2024 UAE Financial Restructuring and Bankruptcy Law: What is New?

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On 31 October 2023, Federal Law Decree No. (51) concerning Financial Restructuring and Bankruptcy (the New Law) was published in the UAE Federal Gazette. The New Law comes into force on 1 May 2024 and will repeal the 2016 Law...more

Fox Rothschild LLP

Mediation in Bankruptcy: A Glimpse

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If you were a party to a lawsuit or a contested matter in a bankruptcy proceeding, would you be interested in working towards settlement with the assistance of an impartial third party, that is, a mediator, rather than take...more

Fox Rothschild LLP

What level of “reasonable due diligence” is actually required under Section 547(b) and does it really matter?

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As bankruptcy attorneys who often defend clients in preference avoidance actions, we were pleased with the 547(b) amendments, effective as of February 20, 2020, requiring a trustee to conduct some level of due diligence into...more

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