News & Analysis as of

Chapter 11 Liquidation

Seward & Kissel LLP

Maximizing Value, Release Valve, and L.A. Law

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True Value files bankruptcy with a bid to sell to a hardware rival | CNN - On Monday, 75-year-old hardware store brand True Value filed for bankruptcy and plans to sell its entire operations to rival company Do it Best,...more

Cadwalader, Wickersham & Taft LLP

“Recapping” and Reconciling Merit Management and Nine West, the Second Circuit Holds That Boston Generating’s 2006...

Until recently, two of the most important cases interpreting the Bankruptcy Code’s “safe harbor” provisions appeared to be in potential tension. First, in the U.S. Supreme Court’s 2018 Merit Management decision, the Supreme...more

Seward & Kissel LLP

Withdrawal Symptoms, Tupperware Party, and Gating Question

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Bankruptcy court clarifies Yellow Corp. owes pensions | WSJ - A Del. bankruptcy court stated Yellow Corp. is liable for some portion of the $6.5 billion in withdrawal liability claims, but the exact amount to be paid is...more

Fox Rothschild LLP

New Jersey Bankruptcy Courts Remain a Strong Option for Debtors Seeking to Obtain a Third-Party Release in a post-Purdue Pharma...

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The restructuring industry held its proverbial breath following the Supreme Court’s decision in Harrington v. Purdue Pharma L.P., which invalidated the nonconsensual third-party release in the debtors’ plan. While various...more

Mintz - Bankruptcy & Restructuring Viewpoints

Understanding Post-Bankruptcy Liquidation Trusts

A main goal in bankruptcy is to get in and out as quickly as possible to minimize costs.  It is often the case that even though a substantial portion of a debtor’s assets have been liquidated in bankruptcy, some valuable...more

Arnall Golden Gregory LLP

Restructuring Roundup - August 2024

AGG’s Restructuring Roundup newsletter is a monthly update of legal issues and news affecting or related to commercial litigation and bankruptcy. The newsletter is a curation of published articles and news, and contains...more

Seward & Kissel LLP

Put Me in Coach, Token Settlement, Insurance Policy, and Parting Seas

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Bus Carrier Coach USA Goes Bankrupt After Ridership Drops | Bloomberg - Bus carrier and owner of the Megabus brand and commuter bus lines connecting New York and New Jersey, Coach USA filed for Chapter 11 bankruptcy in...more

Ward and Smith, P.A.

A Primer for Creditors Navigating the Bankruptcy System

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Bankruptcy filings affect businesses across America. The Bankruptcy Code is complex and difficult to navigate.  But used properly, it can helpcreditors to minimize losses when a customer files bankruptcy. ...more

Jones Day

Cayman Islands Branch of FDIC-Insured U.S. Bank Ineligible for Chapter 15 Relief

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The Bankruptcy Code bars certain individuals or entities from filing for bankruptcy protection, generally because they do not reside or have a place of business or property in the United States, fail to satisfy certain debt...more

Dorsey & Whitney LLP

Bridal Fashion Label and Designer Straighten Social Media Ruffles in Bankruptcy Deal

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The 2010s were a heyday for bridal fashion. TLC’s “Say Yes to the Dress” reality series captivated viewers watching brides navigate family opinions and emotions while shopping for “the dress” at Kleinfeld’s Bridal in New York...more

Jones Day

Fifth Circuit: Preference Claims Are Property of the Bankruptcy Estate that Can Be Sold

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A debtor's non-exempt assets (and even the debtor's entire business) are commonly sold during the course of a bankruptcy case by the trustee or a chapter 11 debtor-in-possession ("DIP") as a means of augmenting the bankruptcy...more

King & Spalding

Fifth Circuit Determines that Raymond James Is Subject to Bankruptcy Trust Litigation and Affirmative Defenses Are Not Available

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Louisiana Pellets, Inc. and German Pellets Louisiana, LLC filed for Chapter 11 bankruptcy in 2016. The bankruptcy court confirmed the debtors’ plan in 2017, which established a liquidating trust for the debtors’ remaining...more

Seward & Kissel LLP

Red River Rivalry and Rue the Day

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J&J Offers $6.5 Billion for Talc Lawsuits Ahead of Third Bankruptcy Filing | WSJ - Healthcare giant Johnson & Johnson has offered a settlement pool of nearly $6.5 billion to resolve tens of thousands of talc-related...more

Bradley Arant Boult Cummings LLP

Fifth Circuit Reminds Creditors They Must Actively Protect Their Interests in Bankruptcy

In its recent opinion in Raymond James & Associates Inc. v. Jalbert (In re German Pellets Louisiana LLC), 23-30040, 2024 WL 339101 (5th Cir. Jan. 30, 2024), the Fifth Circuit held that a confirmed bankruptcy plan enjoined a...more

Seward & Kissel LLP

Express Yourself, Deal of No Deal and Red in the Face

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Express files for bankruptcy; closing more than 100 stores | CNN - Fashion retailer Express Inc. has officially filed for bankruptcy with the bankruptcy court in Delaware. In a release on Monday, the company said it also...more

Seward & Kissel LLP

99 Problems, Putting in Work, Sacramento Bee, Same Sad Story, and Unappealing Prospects

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Retailer 99 Cents Only Files for Bankruptcy, Plans to Shut Down | Reuters - Budget retailer 99 Cents Only filed for Chapter 11 bankruptcy protection in Wilmington, Delaware, and stated that it plans to shut down all of its...more

ArentFox Schiff

Fifth Circuit's German Pellets Opinion: Risks of Nonparticipation in Bankruptcy for Creditors

ArentFox Schiff on

A significant recent decision by the Fifth Circuit Court of Appeals in the case of Raymond James & Assocs. V. Jalbert (In re German Pellets La., L.L.C.), 91 F.4th 802 (5th Cir. 2024) (German Pellets), underscores the...more

Arnall Golden Gregory LLP

Restructuring Roundup - March 2024

AGG’s Restructuring Roundup newsletter is a monthly update of legal issues and news affecting or related to commercial litigation and bankruptcy. The newsletter is a curation of published articles and news, and contains...more

Pillsbury Winthrop Shaw Pittman LLP

Use It or Lose It! Indemnification Rights May Not Be Asserted against a Post-Confirmation Liquidation Trust

The Fifth Circuit recently held that claims and defenses arising from an indemnification agreement with a debtor could not be asserted against a liquidation trust because the chapter 11 plan barred those claims and defenses,...more

Seward & Kissel LLP

Diamond Shining On, Airlines Crashing, and Conspiracy Theory

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Amazon to invest in Diamond Sports as part of bankruptcy deal | ABC News - Diamond Sports has been in Chapter 11 bankruptcy proceedings since it filed for protection last March with debt of $8.67 billion. Amazon will partner...more

Arnall Golden Gregory LLP

Restructuring Roundup - December 2023

AGG’s Restructuring Roundup newsletter is a monthly update of legal issues and news affecting or related to commercial litigation and bankruptcy. The newsletter is a curation of published articles and news, and contains...more

Jones Day

Florida Bankruptcy Court Substantively Consolidates Debtor and Non-Debtor Entities

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The Bankruptcy Code does not explicitly authorize the equitable remedy of "substantive consolidation"—i.e., treating the assets and liabilities of two or more related entities as if they belonged to a single, consolidated...more

ArentFox Schiff

Avoiding Collateral Damage: Lessons of Lehman [Part II]

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In light of the banking failures of Silicon Valley Bank, Signature Bank and First Republic (as well as Credit Suisse), this summer, the Federal Reserve and the FDIC proposed guidance and rules for larger banks to (i) develop...more

Holland & Hart LLP

Why Bankruptcy Is A Budding Alternative For Cannabis Cos.

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Bankruptcy can be a remarkable tool for rehabilitating a struggling business, preserving jobs and going-concern value, and liquidating the assets of an insolvent company. The drafters of this country's bankruptcy laws...more

Seward & Kissel LLP

Union Jacked, Founders Keepers, Cold Comfort, and Little Appeal

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International Longshore and Warehouse Union files for bankruptcy | Reuters - The International Longshore and Warehouse Union (ILWU) has filed for a Chapter 11 bankruptcy protection to fend off long standing litigation...more

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