Features
Distressed Investors Should Take Advantage of the Upcoming Plethora of Defaulted CRE Loans
What is different about this distressed cycle is that most of the lenders are not foreclosing and taking title to the CRE assets, managing, and leasing them for a few months and then selling the properties. They are more likely to sell the note/mortgage rather than foreclose on the property. This presents a unique and interesting opportunity for astute distressed investors, who are experienced in acquiring mortgage notes secured by commercial property and in the arduous foreclosure and bankruptcy process,
Features
Evolution of Pre-Bankruptcy Planning Raises Questions of Good Faith
In recent years, as extensive pre-bankruptcy planning has evolved, bankruptcy filings frequently involve affiliates of larger companies, engineered with a structuring of liabilities in mind. The question of whether these targeted filings are for a legitimate bankruptcy purpose or should be dismissed has been the subject of significant high-profile litigation.
Features
How the Texas Two-Step Changes How Plaintiffs Litigate Mass Torts
By enabling defendants to shield themselves from mass tort liability, the "Texas Two-Step" is a new obstacle for plaintiffs pursuing mass tort cases against manufacturers of dangerous products.
Features
Could the $18.8M Talc Verdict Threaten J&J's Bankruptcy Plan?
The verdict, which excluded punitive damages, could have been much larger. But the jury's award has the potential to threaten the $8.9 billion settlement and, as a result, a proposed Chapter 11 reorganization plan in the bankruptcy of Johnson & Johnson's LTL Management.
Features
Second Circuit Affirms Slashing of Unreasonable Fees In Dismissed Involuntary Bankruptcy Case
An involuntary bankruptcy petition is a limited, risky remedy for both creditors' counsel and debtor's counsel. The fee problems encountered by counsel for the petitioners and the putative debtor in this case provide a cautionary tale.
Features
Second Circuit Sets Up Seven-Factor Test for Third-Party Releases In Bankruptcy Cases
The Second Circuit had a tough call to make in the Purdue Pharmacy bankruptcy appeal: What to do about the release given to the Sackler families who had agreed to contribute $5.5 to $6 billion to Purdue's reorganization plan but were not themselves in bankruptcy.
Features
Bankruptcy Court Highlights Pitfalls to Avoid When Retaining Experts
Simply because the expert is retained by counsel in anticipation of litigation, does not automatically render all communications privileged.
Features
Bankruptcy Judge Dismisses 3M Unit's Earplug Case, Concluding It Had No 'Valid Reorganization Purpose'
U.S. Chief Bankruptcy Judge Jeffrey Graham found that 3M subsidiary Aearo Technologies, which is financially solvent, had no "valid reorganization purpose" to file for Chapter 11 protection last year.
Features
Delaware Bankruptcy Court Provides Guidance On Drafting Proxies
Proxies in voting and support agreements, secured debt instruments, and other corporate documents should be drafted in a manner that fully reflects the intended scope of the parties' proxy relationship.
Features
Third Circuit: Pre-Bankruptcy Commercial Lease Termination Not Fraudulent Transfer
Is an insolvent debtor's pre-bankruptcy termination of a commercial lease a fraudulent transfer? The circuit courts seem to be split, however a close reading of cases in the Third and Seventh Circuits shows that the reasoning of both courts can be reconciled on their facts.
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