Companies seeking to confirm a Chapter 11 bankruptcy plan typically include releases that discharge the bankrupt company (the debtor) from liability on claims, thereby giving the debtor a chance to emerge from bankruptcy and seek a profitable future.& […]
Preference litigation is frequently a game of poker between a bankruptcy trustee and creditors in which the trustee begins with a significant advantage – the lawsuit. In most cases, simply filing a lawsuit ensures that the bankruptcy trustee will leverage […]
The United States District Court for the Southern District of Ohio was recently presented with a strange set of facts regarding a purported licensee under the Perishable Agricultural Commodities Act (PACA). The issue was whether an acknowledged mistake […]
As noted in Part III, movants seeking approval of structured dismissal motions typically must prove that the proposed dismissal is in the best interest of the creditors. To do so, movants will usually have to prove that the dismissal provides better […]
The Bankruptcy Code allows bankruptcy trustees, debtors in possession, and official committees to hire attorneys, accountants, and other professionals to assist them in carrying out their statutory duties, with their fees to be paid by the bankruptcy […]
A recent decision by the District Court for the Eastern District of North Carolina demonstrates just how important it is for parties asserting rights under the Perishable Agricultural Commodities Act (PACA) to provide proper notice. Failing to correctly […]
Read Director Joseph Coleman's article in CRF New on setoffs. Setoffs- Cutting Your Losses Both Inside And Outside Bankruptcy
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 […]