As many bankruptcy practitioners are aware, there is a circuit court split with respect to the allowability of non-consensual third-party releases. Notably, in the Purdue Pharma case, the United States Court of Appeals for...more
As discussed in our earlier blog post, In re The Hacienda Company, LLC – a Flicker of Hope for Distressed Cannabis Companies: Bankruptcy May be Available to Liquidate Assets of Non-Operating Cannabis Companies | In Solvency...more
9/27/2023
/ Agribusiness ,
Bankruptcy Code ,
Bankruptcy Court ,
Cannabis-Related Businesses (CRBs) ,
Chapter 11 ,
Controlled Substances Act ,
Creditors ,
Debtors ,
Federal Rules of Civil Procedure ,
Liquidation ,
Marijuana Related Businesses ,
Money Laundering ,
Ownership Interest ,
Restructuring
Section 11 of Official Bankruptcy Form 105, Involuntary Petition Against an Individual, provides:
Allegation-
Each petitioner is eligible to file this petition under 11 U.S.C. § 303(b).
The debtor may be the...more
A Delaware bankruptcy court recently held that the bar date for filing proofs of claim cannot be enforced against a creditor if the notice of the bar date was not sent by mail to that creditor. In re Cyber Litigation Inc.,...more
The relationship for which counsel for a committee could be disqualified was addressed in the recent case of Bingham Greenbaum Doll, LLP v. Glenview Health Care Facility, Inc., 620 B.R. 582 (6th Cir. B.A.P. 2020)...more
To give a reorganized debtor a “fresh start,” the Bankruptcy Code provides that the confirmation of a plan discharges the debtor from any debt that arose before the confirmation date. However, if a potential claimant lacks...more
When the Bankruptcy Code was first enacted in 1978, student loan debt could be discharged either after the passage of five years since the repayment obligation began, or if repayment would impose an undue hardship on the...more
The following are questions and answers that a distressed company considering insolvency options, including a potential bankruptcy filing, may find useful.
Q: What is the difference between Chapter 11 and Chapter 7...more
9/3/2020
/ Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Chapter 7 ,
Commercial Bankruptcy ,
Creditors ,
Debtors ,
Dissolution ,
Refinancing ,
SBA ,
Trustees