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Commercial Bankruptcy Bankruptcy Reform Bankruptcy Code

Tyson & Mendes LLP

A Seat at the Table: Supreme Court Rules Insurers Have a Right to Be “Heard on Any Issue” in Chapter 11 Cases

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On June 6, 2024, the United States Supreme Court issued its long-awaited ruling in Truck Insurance Exchange v. Kaiser Gypsum Co., Inc., et al. The Court held an insurer with financial responsibility for claims in bankruptcy...more

Patterson Belknap Webb & Tyler LLP

Popularity of Subchapter V Bankruptcy Filings

In 2019, Congress enacted the Small Business Reorganization Act, which created subchapter V within chapter 11 of the Bankruptcy Code. Congress’ intent was to create a more cost-efficient and streamlined restructuring process...more

Seward & Kissel LLP

Unpacking Revlon, LATAM cleared for takeoff (sorry), $7.5 million sub V limit official, retail apocalypse redux (?), and new...

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Revlon Bankruptcy Complicated by Citi’s $900 Million Error | Financial Times - As Revlon prepares for restructuring negotiations following its bankruptcy filing last week, it faces complications with identifying its...more

Hogan Lovells

House Judiciary Committee to Markup Nondebtor Release Prohibition Act of 2021

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On Wednesday, November 3, the House Judiciary Committee approved legislation on a party-line vote that could drastically reshape chapter 11 restructurings, particularly in cases involving significant tort liability. The bill,...more

Lowenstein Sandler LLP

Bankruptcy Venue Reform Bill Needs Amending

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The issue of venue reform has been debated for many years and is again being revisited in light of the expected surge in bankruptcy cases in the wake of the COVID-19 pandemic and certain recent large Chapter 11 filings,...more

Jones Day

Secured Lender's Credit Bid Right in Bankruptcy Sale Denied

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A secured creditor's right to "credit bid" the amount of its allowed claim in a bankruptcy sale of its collateral is an important creditor protection codified in section 363(k) of the Bankruptcy Code. Even so, a ruling...more

Shumaker, Loop & Kendrick, LLP

Business Bankruptcy: Executive Summary - Need to Know Bankruptcy Concepts

According to the American Bankruptcy Institute, total commercial Chapter 11 filings in July 2021 decreased 62 percent from the previous year. Commercial Chapter 11 filings totaled 244 in July 2021, down from the July 2020...more

Hinshaw & Culbertson - Consumer Crossroads

Exploring the Expansion of the Bankruptcy Code under the CARES Act

The Coronavirus Aid, Relief, and Economic Security Act, also known as the CARES Act, provides widespread economic relief for individuals and businesses adversely affected by the coronavirus outbreak and includes several key...more

Rumberger | Kirk

Small Business Bankruptcy Reforms You Need to Know

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For many years, people associated with the bankruptcy system in the United States recognized the process didn’t work well for small business owners. Corporate reorganizations through the Chapter 11 process were cumbersome and...more

Harris Beach PLLC

Revisions to Bankruptcy Code Spell Good News for Creditors

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It is bad enough when a customer or borrower files for bankruptcy and you have to write off the debt, but things can get worse when you are then faced with a lawsuit to recover payments made within the 90 days prior to the...more

Lowndes

Major Change for Bankruptcy Preference Defendants Tucked into New Small Business Chapter 11 Law

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On August 23, 2019, the President signed the “Small Business Reorganization Act,” which changed the Bankruptcy Code and goes into effect on February 19, 2020....more

Proskauer Rose LLP

No Time Like Today for an Ultra-fast Restructuring

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As we prepare for the next restructuring cycle, the US private credit industry is becoming more intrigued with ultra-fast bankruptcy cases. These chapter 11 cases grab headlines and last less than a day. Specifically,...more

Patterson Belknap Webb & Tyler LLP

“Reasonably Knowable Affirmative Defenses”: a Small Change to the Bankruptcy Code Could Have a Big Impact on Preference Litigation

On August 23, 2019, President Trump signed H.R. 3311 into law. The goal of the Small Business Reorganization Act is to facilitate reorganization among small businesses. But in addition to helping small businesses, the SBRA...more

Jones Day

Business Restructuring Review - September 2019

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Chapter 11 Plan Distributions Are Not Collateral Covered by Intercreditor Agreement's Waterfall Provision - In In re Energy Future Holdings Corp., 2019 WL 2535700 (3d Cir. June 19, 2019), a panel of the U.S. Court of...more

Jones Day

Legislative Update

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On August 23, 2019, President Trump signed into law four pieces of bankruptcy legislation designed to help financially distressed small businesses, disabled veterans, National Guard and reservists, and family farmers. Those...more

Womble Bond Dickinson

Family Farmer Relief Act Expands Chapter 12 Bankruptcy Protections for Small and Mid-Sized Farms

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Running a family-owned farm is not easy work under the best of economic circumstances, and it can be nearly impossible when times are tough. More than 30 years ago, during the mid-1980s, John Cougar Mellencamp’s mournful song...more

Pierce Atwood LLP

President Trump Signs New Bankruptcy Legislation – Is Relief from Questionable Bankruptcy Preference Claims In Sight?

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On Friday, August 23, President Trump signed into law the “Small Business Reorganization Act of 2019.” The SBRA will take effect in February 2020 and, at long last, may provide some (although probably minimal) relief to...more

Husch Blackwell LLP

New Legislation Likely To Spur Increase In Bankruptcy Filings

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On August 23, President Trump signed into law two new pieces of legislation—the Family Farmer Relief Act of 2019 and the Small Business Reorganization Act of 2019—that will likely lead to an increase in bankruptcy filings...more

Burr & Forman

Trump Signs Bankruptcy Bills Providing Economic Relief for Small Businesses, National Guard, Veterans, and Family Farmers

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On Friday, August 23, President Trump signed four bankruptcy bills into law: H.R. 3311, the “Small Business Reorganization Act of 2019”, which adds a new Subchapter V to Chapter 11 of the Bankruptcy Code in order to...more

BakerHostetler

Will Congress Finally Act? The ABI Commission on Business Bankruptcy Reform: Exiting the Case - Changes to the Plan Confirmation...

BakerHostetler on

This is the sixth in a series of alerts regarding the proposals made by the American Bankruptcy Institute Commission to Reform Chapter 11 Business Bankruptcies (the “Commission”). This alert covers the Commission’s...more

BakerHostetler

The ABI Commission on Business Bankruptcy Reform: The Sale of All or Substantially All of the Debtor's Assets and Proposed...

BakerHostetler on

This is the fifth in a series of Alerts regarding the proposals made by the American Bankruptcy Institute Commission to Reform Chapter 11 Business Bankruptcies. This alert covers the Commission’s recommendations regarding the...more

BakerHostetler

The ABI Commission on Business Bankruptcy Reform: Paying "Critical Vendors" - Will Congress Finally Act?

BakerHostetler on

This is the second in a series of Alerts regarding the proposals made by the American Bankruptcy Institute’s Select Commission to Reform Chapter 11 Business Bankruptcies. It covers the Commission’s recommendations about the...more

BakerHostetler

The ABI Commission on Business Bankruptcy Reform: Director and Officer Fiduciary Duties and Lender Liability

BakerHostetler on

Will Congress Finally Act? This is the third in a series of Alerts regarding the proposals made by the American Bankruptcy Institute’s Commission to Reform Chapter 11 Business Bankruptcies. It covers the Commission’s...more

Orrick, Herrington & Sutcliffe LLP

Overview and Analysis of Select Provisions of the ABI Chapter 11 Reform Commission Final Report and Recommendations - Part Three...

Earlier this year, Orrick’s Restructuring team began a three-part look at the American Bankruptcy Institute’s Chapter 11 Reform Report. In part one we looked at issues related to confirmation, valuation, financing and asset...more

BakerHostetler

Will Congress Finally Act? The ABI Commission on Business Bankruptcy Reform: Secured Lenders

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Congress rarely accomplishes anything these days, but the need to reform Chapter 11 of the Bankruptcy Code seems to have “crossed over the aisle.” When the Bankruptcy Code was enacted in 1978, America boasted the world’s...more

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