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Pillsbury Winthrop Shaw Pittman LLP

Bankruptcy Court Rejects Attempts to Lock Up Creditor Votes in Favor of Reorganization Plan

Recent decisions reflect a renewed focus on lock-up provisions by bankruptcy courts. The U.S. Bankruptcy Court for the Southern District of New York recently severed a provision from a post-petition agreement that required...more

Jones Day

The Year in Bankruptcy: 2021

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One year ago, we wrote that, unlike in 2019, when the large business bankruptcy landscape was generally shaped by economic, market, and leverage factors, the COVID-19 pandemic dominated the narrative in 2020....more

Locke Lord LLP

The Covenant Loophole That Wasn’t: SDNY Derides Windstream’s Structuring Efforts as “Too Cute by Half”

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On February 15, 2019, following a full bench trial, the Honorable Jesse M. Furman (S.D.N.Y.) entered judgment in favor of Aurelius Capital Master, Ltd. (“Aurelius”) and against Windstream Services, LLC (“Windstream”) in the...more

Nelson Mullins Riley & Scarborough LLP

Signed, Sealed, Delivered, and Enforceable: Second Circuit Finds Email to Be an Enforceable Agreement

For a vast number of professionals, email has become the preferred method for communicating and conducting business. However, many of those people who would choose to fire off a quick email over picking up a phone may not be...more

Kilpatrick

4 Top Takeaways: Recent Trends Involving Intellectual Property in Bankruptcy

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Kilpatrick Townsend partner David Posner spoke at a recent New York State Bar Association event where he and other panelists discussed the topic “Around the Edges of IP: Complexities of IP in Bankruptcy.” Mr. Posner...more

Jones Day

Third Circuit Rules That WARN Act's "Unforeseeable Business Circumstances" Exception Requires That Layoffs Be Probable, Not...

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In Varela v. AE Liquidation, Inc. (In re AE Liquidation, Inc.), 866 F.3d 515 (3d Cir. 2017), the U.S. Court of Appeals for the Third Circuit became the sixth circuit court of appeals to rule that a "probability standard"...more

Jones Day

Without WARN-ing: Third Circuit Clarifies WARN Act's Unforeseen Business Circumstances Exception

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Valera v. AE Liquidation, Inc., the Third Circuit Court of Appeals agreed with five other circuits in holding that WARN notice was not required where an external event outside the employer's control triggering layoffs was...more

Seyfarth Shaw LLP

U.S. Supreme Court Rules WARN Claimants/Workers Must Get Priority Over Other Unsecured Creditors In Bankruptcy

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Seyfarth Synopsis: A bankruptcy court overseeing an employer’s Chapter 11 bankruptcy proceeding allowed the employer to pay certain unsecured creditors before paying Worker Adjustment And Retraining Notification Act (“WARN”)...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Layoffs Without WARN-ing: How to Use the Unforeseeable Business Circumstance Exception

A recent federal trial court decision out of Delaware, In re AE Liquidation, Inc. v. Burtch, No. 14-1492-LPS (D. Del. Mar. 31, 2016), illustrates how, even in the context of a very troubled business, the Worker Adjustment and...more

Kelley Drye & Warren LLP

Landlords Beware: Seventh Circuit Rules That Lease Terminations May Be Voidable In Bankruptcy

The Seventh Circuit Court of Appeals recently handed down a decision with significant implications for landlords contemplating lease termination agreements with distressed tenants. Ruling on a direct appeal in the chapter 11...more

Mintz - Employment, Labor & Benefits...

Third Circuit Court of Appeals Permits Chapter 11 Debtor to Reject Expired CBA

It is a familiar scenario: a company is on the verge of bankruptcy, bound by the terms of a collective bargaining agreement (CBA), and unable to negotiate a new agreement. However, this time, an analysis of this distressed...more

JD Supra Perspectives

Texas Bankruptcy Court 'Likes' Facebook and Twitter Accounts as Property of the Reorganized Debtor

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Bankruptcy courts will continue to confront issues involving social media assets for one primary reason: social media is now an indispensable part of the modern business model....more

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