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Texas › Chapter 11 › Bankruptcy Code

Bradley Arant Boult Cummings LLP

Two Steps Too Far: New Limitations on the Use of the Texas Two- Step to Resolve Mass Tort Liability in Bankruptcy

Bradley Arant Boult Cummings LLP on

This paper explores the mechanisms by which companies have utilized corporate restructuring through divisive mergers in conjunction with the available protections and tools of the United States Bankruptcy Code to resolve mass...more

Hicks Johnson

Sackler Family’s Fate in the Supreme Court Is Poised to Transform Texas Bankruptcy Law

Hicks Johnson on

On December 4, 2023, the Supreme Court will hear oral argument in a case that may have major implications for bankruptcy law in the Fifth Circuit. While the Fifth Circuit (along with the Ninth and Tenth Circuits) has held...more

A&O Shearman

Diamond Sports Group swings for the fences (and strikes out)

A&O Shearman on

During a U.S. bankruptcy case, can a debtor pay something less than the full contract rate provided for in a contract entered into prior to the bankruptcy while still requiring the counterparty to fully perform its...more

Holland & Hart LLP

Georgia-Pacific Ruling Furthers Texas Two-Step Challenges

Holland & Hart LLP on

The U.S. Court of Appeals for the Fourth Circuit recently approved injunctive relief as part of a strategy for settling mass tort claims through the Chapter 11 bankruptcy case of Bestwall LLC, an entity created by...more

Bracewell LLP

Texas "Two-Step" Forward, Three Steps Back for Mass Tort Debtors in the Third Circuit After LTL

Bracewell LLP on

In a decision that may provide much-needed boundaries around the permissibility of debtors created from “out-of-the-box” prepetition corporate transactions, on January 30, 2023, the United States Court of Appeals for the...more

Akin Gump Strauss Hauer & Feld LLP

Make (Whole) A Minute: Brazos Bankruptcy Update

Akin Gump Strauss Hauer & Feld LLP on

Beginning on February 13, 2021, something unprecedented happened in the state of Texas—a winter storm caused temperatures to dip well-below freezing. This event, dubbed the “Black Swan Winter Event,” caused Texas to...more

King & Spalding

Not in My Court: Northern District of Texas Bankruptcy Court Dismisses NRA Bankruptcy Cases as Filed in Bad Faith

King & Spalding on

On May 11, 2021, Judge Harlin D. Hale, of the Bankruptcy Court for the Northern District of Texas (the “Court”) found that the bankruptcy cases of the National Rifle Association of America (“NRA”) and its subsidiary Sea Girt...more

Vinson & Elkins LLP

In re Chesapeake Energy Corporation And In re Extraction Oil & Gas, Inc.: New Rulings Against Midstream Gatherers Further Dividing...

Vinson & Elkins LLP on

It is common for E&P companies in chapter 11 to seek to reject burdensome midstream contracts under Bankruptcy Code § 365. Rejection has not been permitted by bankruptcy courts where such agreements create enforceable...more

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