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Subordination Agreements: Enforcement and Reorganization Participation Image

Subordination Agreements: Enforcement and Reorganization Participation

Andrew C. Kassner & Joseph N. Argentina Jr.

What provisions in a subordination agreement can be enforced, and can the subordinated creditor participate in the reorganization process if there is no prospect it will receive any distribution as a result of being subordinated?

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Third Circuit: Assertions of Sovereign Immunity Can Be Scrutinized In the Bankruptcy Context Image

Third Circuit: Assertions of Sovereign Immunity Can Be Scrutinized In the Bankruptcy Context

Corinne Ball

In an era of increasing participation and regulation by various governmental agencies in businesses eligible for bankruptcy relief, the Third Circuit's decision in Venoco is an important development for assessing the extent to which a distressed business can address action by a governmental unit through a bankruptcy case.

Features

Cross-Border Insolvency In Brazil: The UNCITRAL Model Law Dances to A Samba Beat Image

Cross-Border Insolvency In Brazil: The UNCITRAL Model Law Dances to A Samba Beat

Nyana Abreu Miller & Raul Torrao

After years of debate, Brazil recently enacted legislation amending its bankruptcy statute and modernizing the Brazilian insolvency system.

Features

Update on Business Bankruptcy Legal Fees and Professionalism Image

Update on Business Bankruptcy Legal Fees and Professionalism

Michael L. Cook

A review of recent cases shows that poor billing judgment and unreasonable billing have been with us for decades.

Features

When Does Content of a Debtor's Bar Date Notice Satisfy Due Process? Image

When Does Content of a Debtor's Bar Date Notice Satisfy Due Process?

Francis J. Lawall & Kenneth A. Listwak

The Third Circuit recently examined whether the content of a debtor's bar date notice satisfied due process, so as to discharge unknown litigation creditors' claims against the company after confirmation of the debtor's Chapter 11 plan of reorganization.

Features

There Is No Post-Confirmation True-Up of Projected Disposable Income In Subchapter V Image

There Is No Post-Confirmation True-Up of Projected Disposable Income In Subchapter V

Jonathan P. Friedland, Mark Melickian & Hajar Jouglaf

A large number of reported decisions interpreting Sub V have mostly addressed the eligibility threshold for a debtor to proceed under the new law. And legitimate questions will continue to present themselves. Such is the nature of most new (and even not-so-new) statutes.

Features

PPP Loans and Small Business Debtors In Bankruptcy Image

PPP Loans and Small Business Debtors In Bankruptcy

Alison D. Bauer

At present, there remains no avenue for Chapter 11 debtors to receive PPP Loans during the course of the bankruptcy case. The limitation on PPP availability notwithstanding, other legislative changes have greatly enhanced the eligibility for and efficacy of bankruptcy relief for many small businesses.

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Employment Law Considerations In Bankruptcy Image

Employment Law Considerations In Bankruptcy

Wendy Johnson Lario, Alan Brody & Scott Humphreys

This article addresses some of the relevant employment laws and litigation vulnerabilities that companies, including their owners, officers and directors, should consider before ceasing operations or filing for bankruptcy.

Features

Fraudulent Transfer Claims In Claw Back Litigation Image

Fraudulent Transfer Claims In Claw Back Litigation

Melissa Davis & Grace E. Robson

This article focuses on the basics of fraudulent transfer claims and solvency analysis in the context of lawsuits where a plaintiff is seeking to recover payments made prior to the bankruptcy case being commenced, sometimes referred to as "claw back" litigation.

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Just Say No: Discovery In Chapter 15 Bankruptcies Is Asymmetrical Image

Just Say No: Discovery In Chapter 15 Bankruptcies Is Asymmetrical

Daniel Coyle

Chapter 15 specifically allows foreign representatives to conduct discovery in the U.S., but be wary of other entities that seek to distract and/or delay the Foreign Representative from the asset search.

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