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Chapter 7 Today's Popular Updates Debtors

ArentFox Schiff

Understanding Suppliers’ Rights and Remedies in Retail and Hospitality Bankruptcies

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On May 14, Outfox Hospitality LLC, the parent company of the retail chain Foxtrot Market, along with its affiliates, filed for Chapter 7 bankruptcy protection in the Bankruptcy Court for the District of Delaware, with the...more

Jones Day

The Year In Bankruptcy: 2022

Jones Day on

One year ago, we wrote that, in early 2021, it was widely anticipated that the unprecedented pressure the COVID-19 pandemic brought to bear on the U.S. economy would lead to a boom in corporate bankruptcy filings. That boom...more

Patterson Belknap Webb & Tyler LLP

Cryptic Crypto: Creditors Move for Ch. 7 for Alleged Madoff-Like Fraud

On Wednesday, November 18, two customers of Cred Inc., a cryptocurrency investment platform currently in Chapter 11, asked Delaware Bankruptcy Judge John T. Dorsey to convert the Chapter 11 case to a Chapter 7 liquidation...more

Alston & Bird

Eleventh Circuit Holds That New Value Need Not Remain Unpaid for Section 547(c)(4) Defense to Apply in Preference Actions

Alston & Bird on

Our Bankruptcy & Financial Restructuring Group explores a positive holding from the Eleventh Circuit that greatly expands the applicability and scope of the new-value defense in the circuit....more

Burr & Forman

Eleventh Circuit Moves Toward Bright Line Rule That Debtors Cannot Retain Real Property Post- Discharge Without Reaffirming the...

Burr & Forman on

Last year, Burr & Forman lawyers won a decisive victory in the Eleventh Circuit, in the case of In re Failla, 838 F.3d 1170 (11th Cir. 2016). In Failla, the Eleventh Circuit held that a debtor who files a statement of...more

Blank Rome LLP

Anticipating and Managing Bankruptcy Risk

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Blank Rome Partner Ira Herman authored “Anticipating and Managing Bankruptcy Risk,” a series of articles prepared for the Financial Restructuring & Bankruptcy module of Lexis Practice Advisor, a comprehensive practical...more

BCLP

Are Those Taxes Owing On Your Late-Filed Tax Return Dischargeable? Maybe, But You Better Be In The Right Circuit

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Individual debtors with old tax debts relating to late-filed tax returns may be surprised to find that those tax debts may not be dischargeable under section 523(a) of the Bankruptcy Code due to the lateness of the tax...more

Buchalter

The Supreme Court Prohibits Chapter 7 Debtors From Stripping Off Wholly Underwater Liens in Bankruptcy

Buchalter on

On June 1, 2015, the United States Supreme Court in Bank of America, N.A. v. Caulkett, 575 U.S. ____ (2015), unanimously held that a Chapter 7 debtor cannot strip off wholly “underwater” liens secured by the debtor’s...more

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