On May 26, 2015, continuing a springtime ritual for bankruptcy lawyers, the Supreme Court issued its latest "progeny of Stern" ruling on the adjudicative authority of the bankruptcy courts. In a 6-3 decision the Court held that "Our precedents make […]
How would you like to be paid only for work which, in hindsight, unquestionably resulted in a material benefit to your employer? That unsuccessful sales call? Freebie. That account you spent hours trying to collect, but ultimately had to write off? That […]
While Donald Trump’s presidential aspirations and “Celebrity Apprentice” hosting duties make for interesting copy, the most recent news concerning him relates to the bankruptcy case of Trump Entertainment and the interaction between […]
Part II of this series focused on the first element of section 1112(b)'s dismissal test: whether "cause" exists for the court to dismiss or convert the case. Once the judge determines that cause exists, the court must dismiss or convert […]
The Supreme Court is currently considering the case of Wellness International Network, Ltd. v. Shariff. As discussed in the blog post on February 16, 2015, at issue in the Wellness International Network case is "whether Article III of the United […]
In a recent ruling, the Ninth Circuit held that a seller was liable under the law of fraudulent conveyance to the bankruptcy trustee for the portion of the purchase price funded by a company controlled by the buyer, which was actually a Ponzi scheme, […]
The Supreme Court has an opportunity to clarify the constitutionality of the allocation of power between federal district courts and bankruptcy courts. On July 1, 2014, the Supreme Court granted certiorari in Wellness International Network, Ltd. v. Sharif […]
The enforcement of a liquidated damages clause can mean the difference between money in a party's pocket with little effort versus a protracted and expensive court battle. To learn more, click on the link below to an article recently published […]
Beginning in 2012, a distinguished group of bankruptcy attorneys, academics and judges known as the American Bankruptcy Institute (ABI) Commission to Study the Reform of Chapter 11 (the Commission) held periodic meetings throughout the U.S. to analyze […]
As noted in Part I, movants seeking approval of a structured motion to dismiss must generally prove that: (1) the court has the power to enter an order approving a structured dismissal; (2) "cause" exists to approve the structured dismissal; and (3) […]
From time to time it has proved beneficial to revisit existing bankruptcy statutes, and update them where necessary. The American Bankruptcy Institute established the Commission to Study the Reform of Chapter 11 (the “Commission”) for this precise […]
Occasionally, a case comes along that shows how things can go wrong for a franchisor in bankruptcy court. Cumberland Coral, LLC, is just such a case. To learn more about the case and the issues raised for franchisors and franchisees […]