News & Analysis as of

Attorney's Fees Commercial Bankruptcy

Patterson Belknap Webb & Tyler LLP

Ninth Circuit Addresses State Sovereign Immunity for Claims Based on Dismissed Involuntary Petitions

When an involuntary bankruptcy petition is dismissed, section 303(i) of the Bankruptcy Code permits a debtor to seek reasonable attorneys’ fees and costs from the petitioners, and, if the petition was filed in bad faith,...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

Ward and Smith, P.A.

740,000 Reasons to Think Twice Before Putting a Company in Bankruptcy

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A recent decision from a bankruptcy court in Delaware provides a cautionary tale about the risks of involuntary bankruptcy.  In the Delaware case, the debtor managed a group of investment funds. The business was all but...more

Holland & Knight LLP

Precise Drafting of a Lease is Crucial and Can be the Deciding Factor in Litigation

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No party enters into a lease hoping one day to end up in litigation. The parties desire a smooth, amicable landlord-tenant relationship. However, the potential for disagreements, and ultimately litigation, over a lease is...more

Holland & Knight LLP

Landlords Beware: Bankruptcy Court Litigation Could Come at a Cost

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Those who lease commercial property may find themselves unwilling participants in complex proceedings before the U.S. bankruptcy courts when a tenant files bankruptcy. Meanwhile, the lease becomes an asset among the "property...more

Womble Bond Dickinson

Windstream Bankruptcy Court Slams Charter Communications for Violating Automatic Bankruptcy Stay, Holds Company in Contempt

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The breadth and scope of the Bankruptcy Code’s automatic stay and the potential cost a company may face for violating the stay made national news last week in a dust-up between two telecom providers, when the U.S. Bankruptcy...more

Ward and Smith, P.A.

40,979 Reasons Not to "Press Charges" Against a Debtor in Bankruptcy

Ward and Smith, P.A. on

It is a cardinal sin to attempt to collect a debt or repossess collateral after a borrower files bankruptcy. Bankruptcy triggers the automatic stay – a command, not a suggestion, that collection activity ceases. This is a...more

Rivkin Radler LLP

New York Insurance Coverage Law Update

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United States District Court Orders Insured To Produce Certain Pre-Litigation Documents But Not Others Deemed Work Product 99 Wall sued Allied World seeking coverage under a property policy for water losses at 99 Wall’s...more

Spilman Thomas & Battle, PLLC

Top 10 Bankruptcy Truths for Creditors to Know

Much of the bankruptcy chatter arising from the pandemic world in which we find ourselves is now focusing on the cascade of new bankruptcy cases that are predicted to arrive soon. We have already seen the effects of closed...more

Ward and Smith, P.A.

Is it Time to Re-Write Your Attorney's Fees Provision?

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Bankruptcy court is not the first place that comes to mind when a lender thinks about full recovery on a loan. Usually, debtors file bankruptcy because they can't pay all their creditors in the ordinary course of business....more

Jones Day

Fourth Circuit Bolsters Claims for Postpetition Attorney's Fees Incurred by Unsecured or Undersecured Creditors

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In SummitBridge Nat’l Invs. III, LLC v. Faison, 915 F.3d 288 (4th Cir. 2019), the U.S. Court of Appeals for the Fourth Circuit ruled that an unsecured or undersecured creditor may include postpetition attorney’s fees and...more

Spilman Thomas & Battle, PLLC

Trade Secret Misappropriation and Employee Fiduciary Breach in ASML v. XTAL Results in Large Judgement

On May 3, 2019, following a jury verdict rendered last November, a Santa Clara, California court entered a final judgment for $845 million in favor of semiconductor maker, ASML, in its suit against rival, XTAL, for stealing...more

Rosenberg Martin Greenberg LLP

Fourth Circuit Allows Unsecured Creditors to Assert Claims for Attorneys' Fees In Bankruptcy Cases

Lawyers who represent debtors in bankruptcy cases, supported by rulings from many bankruptcy judges, have long taken the position that creditors with unsecured claims whose agreements with their debtors provide for payment of...more

Katten Muchin Rosenman LLP

In re Tribune Co.: Allowance of Post-Petition Indenture Trustees Fees as Unsecured Claim

In a brief but significant opinion, the United States District Court for the District of Delaware reversed a decision by the United States Bankruptcy Court for the District of Delaware and allowed more than $30 million in...more

Kelley Drye & Warren LLP

Fees for Defending Fees – Recent Rulings Permit Contractual Circumvention of Supreme Court’s Baker Botts v. Asarco Decision

The Supreme Court two years ago ruled in Baker Botts v. Asarco that bankruptcy professionals entitled to compensation from a debtor’s bankruptcy estate had no statutory right to be compensated for time spent defending against...more

Robins Kaplan LLP

Breach of Fiduciary Duty (and Related) Claims Are Not Easily Defeated: A Case Study in Motions for Judgment on the Pleadings

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Just what must be alleged for claims for breach of fiduciary duty to proceed past initial pleadings and into meaningful fact development? In a recent decision, the United States Bankruptcy Court for the Eastern District of...more

Mintz - Bankruptcy & Restructuring Viewpoints

Delaware Bankruptcy Court Issues Important Guidelines Concerning Payment of Indenture Trustee's Professional Fees

In Nortel Networks, Inc., Case No. 09-0138(KG), Doc. No. 18001 (March 8, 2017), the Delaware Bankruptcy Court ruled on the objections of two noteholders who asked the Court to disallow more than $4.4 million of the $8.1...more

Robins Kaplan LLP

Case Dismissed! Do Not Pass Go, Do Not Collect Your $1 Million

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Following dismissal of a bankruptcy case, what is the bankruptcy court’s authority to enforce an award for attorneys’ fees? While you might think that the bankruptcy court retains authority to enforce its own orders, a recent...more

Buchalter

Points & Authorities - Summer 2016

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There Ought to be a Law: Consider This Alternative To Litigation - Government is becoming more intrusive. At the state and federal levels, a host of agencies and departments continuously create new rules for us to live...more

Proskauer Rose LLP

Three Point Shot - June 2016

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Showtime and Top Rank Slug It out over "Fight of the Century" - Who said boxing was dead? Fight fans still bitter over the May 2015 Floyd Mayweather–Manny Pacquiao bout that was far more mega-bore than mega-brawl...more

BCLP

ASARCO’s Revenge: Do Estate Professionals Now Have to Charge the Same Fees to an Estate or Committee that They Would Charge a...

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Either from our prior posts, or from the great posts from Stone and Baxter’s Plan Proponent blog or from Bracewell’s Basis Points blog, we all know the Supreme Court’s holding in ASARCO: a strict interpretation of Section...more

King & Spalding

Second Circuit Finds that Barclay’s Bought Lehman’s Assets Free and Clear of FirstBank’s Claims

King & Spalding on

On March 29, 2016, the Second Circuit Court of Appeals ruled that FirstBank Puerto Rico (“FirstBank”) could not recover from Barclays Capital Inc. (“Barclays”) the securities (“Securities”) pledged by it, in connection with a...more

Bryan Cave Leighton Paisner

Delaware Bankruptcy Court Holds, Twice: “ASARCO is Here to Stay” (But Your Authors Have Hatched Another Plan; Read Below!)

You may recall the holding and analysis of ASARCO from Jay’s previous post, here. At bottom, ASARCO followed a strict interpretation of Section 330(a) of the Bankruptcy Code, holding that professionals are allowed to charge...more

Kelley Drye & Warren LLP

Delaware Bankruptcy Judge Rejects Effort to Circumvent Supreme Court’s Asarco Decision

The Supreme Court’s decision last term in Baker Botts v. Asarco, in which the Court ruled that professionals that are paid from a debtor’s bankruptcy estate cannot be compensated for time spent defending their fee...more

Womble Bond Dickinson

NHL Scores Big on Attorneys' Fees Against Nondebtors

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Last fall, the National Hockey League (NHL) enjoyed a big off-ice victory when the U.S. District Court for the District of Arizona found that it was entitled to recover from Jerry and Vickie Moyes and the Jerry and Vickie...more

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