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Bankruptcy Veterans See Surge In Corporate Filings
Corporate bankruptcies have been a hot topic lately, with several businesses or their parent companies declaring bankruptcy, announcing they plan to do so or saying they may to do so soon.
In October it was revealed that Cineworld, the parent company for Regal Cinemas, paid the Kirkland law firm a $300,000 retainer and made subsequent advance retainer payments totaling $16.3 million prior to filing for Chapter 11 bankruptcy protection in a Texas federal court in September, according to Kirkland's employment application in federal bankruptcy court.
In late January, Bed Bath & Beyond Inc. moved closer to a bankruptcy filing after it said it received a default notice from JPMorgan Chase & Co., its loan agent, and warned it didn't have enough funds to make payments. In February, Sinclair Broadcast Group, which owns Bally Sports, announced it would declare bankruptcy.
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'Huguenot LLC v. Megalith Capital Group Fund I, L.P.': A Tutorial On Contract Liability for Real Estate Purchasers
In June 2024, the First Department decided Huguenot LLC v. Megalith Capital Group Fund I, L.P., which resolved a question of liability for a group of condominium apartment buyers and in so doing, touched on a wide range of issues about how contracts can obligate purchasers of real property.
Strategy vs. Tactics: Two Sides of a Difficult Coin
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Latham & Watkins helped the largest U.S. commercial real estate research company prevail in a breach-of-contract dispute in District of Columbia federal court.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.