Spotlight on Financial Services- Consumer bankruptcy
Common Benefits Issues in Bankruptcy
Nota Bene Podcast Episode 132: 2021 Business Bankruptcy Trends with Ori Katz
Straddle-Year Tax Debts in Bankruptcy: Does the King Get Paid First? [More with McGlinchey, Ep. 14]
Polsinelli Podcasts - Supreme Court Closes Gap on Bankruptcy Issue
Bill on Bankruptcy: Trustees Sleep Easy after High Court Ruling
Bill on Bankruptcy: Lawyers Easily Make Simple Words Complicated
Bill on Bankruptcy: ResCap Report, a Bargain at $83 Million
Bill on Bankruptcy: How Purchasers of AMR Stock Made a Killing
A chapter 7 trustee-lessee’s failure to comply with postpetition, pre-rejection lease obligations does not automatically give the landlord an administrative expense claim, as some courts fashion alternative remedies on a...more
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
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
There is a growing trend of bankruptcy courts approving structured dismissals of chapter 11 cases following a successful sale of a debtor’s assets under section 363 of the Bankruptcy Code. A structured dismissal is a...more
One year ago, we wrote that 2022 would be remembered in the corporate bankruptcy world for the “crypto winter” that descended in November 2022 with the spectacular collapse of FTX Trading Ltd., Alameda Research, and...more
BlockFi Bankruptcy Plans Opposed by FTX, Three Arrows, and SEC | CoinDesk - Bankrupt crypto lender BlockFi submitted bankruptcy plans which have now been opposed by bankrupt companies FTX and Three Arrows Capital as well...more
In bankruptcy, certain specified types of debts are forgiven or “discharged”, releasing the debtor from personal liability for those debts. Debt discharges are permanent, and when granted, the debtor is no longer required to...more
AUTOMATIC STAY - 1.1 Covered Activities 1.1.a Court denies injunction against actions involving debtors’ affiliates. Shortly after filing their chapter 11 cases, the debtors in possession sought, in the alternative,...more
The latest amendments to the Federal Rules of Bankruptcy Procedure (the “Bankruptcy Rules”) took effect on December 1, 2022. This collection of modifications may be broadly divided into two categories: (i) amendments and a...more
This practice note discusses how a bankruptcy court may recharacterize documents that purport to create a loan transaction and determine that the transaction, despite labels, is something else—a transaction providing for a...more
A bankruptcy court ruled that a creditor didn’t need to seek derivative standing to sue a liquidating trustee. The creditor, himself a trustee of the debtor’s employee stock-option plan, had standing to sue without prior...more
In this first part of his article, David sets the parameters for understanding U.S. bankruptcy concepts… According to the American Bankruptcy Institute, total commercial Chapter 11 filings in July 2021 decreased 62...more
In a recent post, our own Harriet Wallace observed a truism in a recent ruling by the United States Bankruptcy Court for the District of Delaware in the chapter 7 iteration of the infamous Jevic case—the wording of an order...more
Nothing is more frustrating to a trade creditor holding a large unpaid balance owed by a debtor in bankruptcy than the risk that payments the trade creditor received before the debtor filed bankruptcy may be clawed back by...more
The In re Jevic Holding Corp. chapter 11 case continues to make news. The case is likely best remembered for the 2017 Supreme Court decision holding that the distribution scheme in a structured dismissal of a Chapter 11 case...more
Chapter 11 bankruptcy cases are most frequently filed by businesses. However, certain high-earning individuals whose debts are above the statutory debt limits to qualify for Chapter 13 can also file for Chapter 11 relief. In...more
Somewhere in our rough memories of high school science, we should recall the general principle that a gas will always expand to fill a given void. Although the Bankruptcy Code diverges markedly from scientific principles,...more
Bankruptcy cases differ from typical lawsuits in a variety of ways, including the parties involved. Whereas standard lawsuits generally involve a plaintiff and a defendant, bankruptcy cases have a different cast of “players,”...more
The ability of a bankruptcy trustee to avoid certain transfers of a debtor's property and to recover the property or its value from the transferees is an essential tool in maximizing the value of a bankruptcy estate for the...more
When a debtor files bankruptcy under Chapter 11, the bankruptcy court does not automatically appoint a trustee. Unlike Chapter 7, where the court appoints a trustee to investigate the debtor's assets, liquidate assets, and...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
Back in December of 2017, the Bankruptcy Protector provided a succinct summary of all cases decided post-Jevic through November 17, 2017. In this update, we discuss the cases decided between November 17, 2017 and May 10,...more
Two weeks ago, we discussed asset sales under Bankruptcy Code section 363. As that post noted, section 363 requires court approval for asset sales outside the ordinary course of business, with courts ensuring that sales...more
Affirming the lower court’s decision, the Firth Circuit recently held that a patent license purchased by a company in a bankruptcy sale was a rejected executory contract and could not have been transferred by the sale in...more
The Bankruptcy Code provides for the appointment of a creditors’ committee in chapter 11 bankruptcy cases. See 11 U.S.C. § 1102. There is no parallel provision applicable to chapter 7 cases. When a bankruptcy case is...more