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The Role of Third-Party Releases In Successful Chapter 11 Reorganizations Image

The Role of Third-Party Releases In Successful Chapter 11 Reorganizations

By John J. Rapisardi & Jacob T. Beiswenger

Part One of a Two-Part Article This two-part article will examine the role of third-party releases in successful Chapter 11 reorganizations. This part will address the factors considered in each Circuit where such releases have been deemed permissible within the confines of the Bankruptcy Code, evaluate several recent cases highlighting the uncertainty created by the current Circuit split, and consider options for creating a clear, nationwide standard.

Features

Hourly Billing in FTX Bankruptcy Already At Historically High Level Image

Hourly Billing in FTX Bankruptcy Already At Historically High Level

Ellen Bardash

Attorneys and consultants involved in the FTX bankruptcy have asked the District of Delaware bankruptcy court to approve billed hours and expenses totaling just under $37 million for the first six weeks of Chapter 11 proceedings.

Features

Can a Debtor That Has No Ongoing Business Operations Reorganize Under Chapter 11 In Good Faith? Image

Can a Debtor That Has No Ongoing Business Operations Reorganize Under Chapter 11 In Good Faith?

Lawrence J. Kotler & Roxanne J. Indelicato

In a recent decision, the U.S. Bankruptcy Court for the Southern District of Texas (the court) addressed whether a debtor that has no independent assets or ongoing business operations can reorganize under Chapter 11 in good faith.

Features

J&J Gets Stay In Talc Chapter 11 Dismissal Image

J&J Gets Stay In Talc Chapter 11 Dismissal

Amanda Bronstad

Johnson & Johnson's talc bankruptcy may be on its last legs, but it's still standing — at least for a while. On February 13, Johnson & Johnson subsidiary LTL Management petitioned the U.S. Court of Appeals for the Third Circuit to rehear its Jan. 30 decision dismissing its Chapter 11 case

Features

Fifth Circuit Adds Color to Abstention Issue Image

Fifth Circuit Adds Color to Abstention Issue

Francis J. Lawall & Brenden Dahrouge

Rules Bankruptcy Court Lacked Jurisdiction to Decide State-Governed Question Jurisdictional boundaries within the federal system as between bankruptcy and district courts as well as various federal agencies can be a maze that is at times nearly impossible to navigate. Further complicating matters are those cases involving state-regulated issues that add abstention to the mix.

Features

Rights of Tenant to Security Deposit When Landlord Files for Bankruptcy Image

Rights of Tenant to Security Deposit When Landlord Files for Bankruptcy

Andrew C. Kassner & Joseph N. Argentina Jr.

As we debate whether there will be a "soft" or "hard" landing of the economy and the resulting effect of different landings on the volume of bankruptcy filings, it is helpful to review how a bankruptcy filing affects not only rights between a creditor and the debtor, but also the respective rights of creditors against property held by the debtor.

Features

Bankruptcy Veterans See Surge In Corporate Filings Image

Bankruptcy Veterans See Surge In Corporate Filings

Everett Catts

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. Two veteran bankruptcy attorneys in Georgia give their take on this and other bankruptcy topics.

Columns & Departments

Live Webinar: The Crypto Landscape Post-FTX Image

Live Webinar: The Crypto Landscape Post-FTX

CLS Staff

On Feb. 15 at 4 p.m. ET, Cybersecurity Law & Strategy will present a complimentary live webinar titled "The Crypto Landscape Post-FTX." The presentation will cover the current status and near-future outlook for the blockchain (crypto) sector.

Features

New Bankruptcy Code May Provide Way Out of Commercial Leases Image

New Bankruptcy Code May Provide Way Out of Commercial Leases

Eric Snyder

In major metropolitan areas, commercial office vacancies have skyrocketed and rents have plummeted. Tenants, required to examine their space needs post-pandemic, are eager to take advantage of the lower rents. A recent addition to the Bankruptcy Code provides these lessees with an opportunity to walk away from above-market leases.

Features

Eleventh Circuit Stops Plan Confirmation Stampede Image

Eleventh Circuit Stops Plan Confirmation Stampede

Michael L. Cook

In a recent ruling, the Eleventh Circuit upended a hastily confirmed reorganization plan. Its holding should stop the stampede known as the "confirmation express."

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