As many bankruptcy lawyers know, the language of Section 502(b)(6) of the Bankruptcy Code—the provision that specifies the maximum allowed amount of a landlord's claim for lease termination damages— is confusing, and it has led to a number of disagreements...
Chapter 11 debtors may seek commitments from creditors to vote in favor of their Chapter 11 plans prior to or during the case. Check out this expertly drafted article discussing a recent decision where the court severed a provision in certain postpetition agreements...
In-house counsel may advise internal clients on bankruptcy matters and non-bankruptcy alternatives. Check out this resource kit for a collection of Practical Guidance materials covering many of the tasks and issues that in-house attorneys regularly address when...
Recently, the Third Circuit held that Mallinckrodt could discharge its obligations to pay future royalties. Check out this expertly drafted article discussing this decision. READ NOW » Related Content Intellectual Property Agreements: The Assumption...
Bankruptcy Code Section 503(c)(1) includes strict requirements for a court to approve retention plans for insiders. Recently, U.S. Bankruptcy Judge Michael E. Wiles of the U.S. Bankruptcy Court for the Southern District of New York issued a ruling in In re Mercon...
Single asset real estate (SARE) Chapter 11 cases generally arise when a SARE debtor is forced to file for bankruptcy relief to stop an impending foreclosure sale. Watch this expert video highlighting what is required for a debtor to qualify as a SARE debtor entity...
You represent several troubled companies and need to explore whether a non-bankruptcy alternative is viable for your clients. Practical Guidance allows you to compare assignments for the benefit of creditors, receiverships, and Article 9 statutes in several states...
On June 27, 2024, the Supreme Court held that the Bankruptcy Code does not authorize nonconsensual third-party releases as part of a plan of reorganization under Chapter 11. Harrington v. Purdue Pharma L.P., 144 S. Ct. 2071 (2024). Chapter 11 debtors and courts...
The 2024 Bankruptcy Threshold Adjustment Extension Act was introduced in the Senate on April 13, 2024. The act would extend the $7.5 million debt limit for Subchapter V cases for an additional two years. Unfortunately, the law has not yet been enacted and, as a...
Thus far, 2024 has been quite a year! Most will remember it as the year the Southern District of New York amended their guidelines for prepackaged bankruptcy cases and issued procedural guidelines for prearranged bankruptcy cases. Check out our checklist for the...
Delaware bankruptcy courts have uniformly denied derivative standing to official creditors' committees in cases where applicable non-bankruptcy law provides that creditors do not have standing to bring claims on behalf of certain entities. Recently, a Delaware...
The United States Supreme Court issued its long-anticipated decision in Purdue Pharma L.P .'s bankruptcy case. The Supreme Court held that the Bankruptcy Code does not authorize a release that, as part of a plan of reorganization under Chapter 11, seeks to...
In Transform Holdco , the United States Supreme Court resolved a split among the Circuit Courts as to whether Section 363(m) is a jurisdictional provision (i.e., depriving an appellate court of jurisdiction to hear a challenge to a sale order). Check out this expertly...
You represent several international corporations that are considering filing insolvency proceedings in foreign jurisdictions. As a result, you need to explore filing cases under Chapter 15. Check out this expertly-drafted article discussing a recent bankruptcy...
Recently, the Supreme Court held that insurers that have financial responsibility for bankruptcy claims are parties in interest with standing to object to a Chapter 11 plan. Be sure to read our client alert about this case. Read now » Related Content...