Features
Subordination Agreements: Enforcement and Reorganization Participation
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?
Features
Third Circuit: Assertions of Sovereign Immunity Can Be Scrutinized In the Bankruptcy Context
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
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
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?
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
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
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.
Features
Employment Law Considerations In Bankruptcy
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
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.
Features
Just Say No: Discovery In Chapter 15 Bankruptcies Is Asymmetrical
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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