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Features

Delaware Bankruptcy Court Provides Guidance On Drafting Proxies Image

Delaware Bankruptcy Court Provides Guidance On Drafting Proxies

Robert B. Greco

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 Image

Third Circuit: Pre-Bankruptcy Commercial Lease Termination Not Fraudulent Transfer

Michael L. Cook

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.

Features

Lease Terminations As Fraudulent Transfers Image

Lease Terminations As Fraudulent Transfers

Michael L. Cook

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.

Features

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

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

John J. Rapisardi & Jacob T. Beiswenger

Part Two of a Two-Part Article In Part Two, we continue the analysis by evaluating two constitutional issues arising from third-party releases: whether creditor consent to be bound by a third-party release is required to satisfy the due process clause of the Fifth and Fourteenth Amendments; and whether bankruptcy courts have constitutional authority to issue final orders granting third-party releases in a plan of reorganization under Stern v. Marshall.

Features

Fourth Circuit: Corporate Subchapter V Debtors Subject to Discharge Exceptions Under Bankruptcy Code Image

Fourth Circuit: Corporate Subchapter V Debtors Subject to Discharge Exceptions Under Bankruptcy Code

Lawrence J. Kotler & Elisa Hyder

In a matter of first impression not yet addressed by any circuit court, the Fourth Circuit addressed whether the discharge exceptions under Section 523(a) apply to corporate debtors under Subchapter V of Chapter 11 of the Bankruptcy Code.

Features

Appellate Court Reverses Chapter 11 Confirmation Order Based on Faulty Tax Ruling Image

Appellate Court Reverses Chapter 11 Confirmation Order Based on Faulty Tax Ruling

Michael L. Cook

The Northern District of California recently issued two blistering opinions on appeals by the IRS and California Franchise Tax Board from a bankruptcy court's Chapter 11 plan confirmation order and a tax determination order.

Features

Corporate Bankruptcies and the Restructuring Solution Image

Corporate Bankruptcies and the Restructuring Solution

Brian Wanat

Recent, big-name Chapter 11 filings have brought to the light the importance of insurance solutions for companies in financial distress, as companies in this situation face oftentimes new and uncharted issues.

Features

Ninth Circuit Bankruptcy Panel Holds Lack of Timely Objection Bars Objection to Homestead Value Exemption Image

Ninth Circuit Bankruptcy Panel Holds Lack of Timely Objection Bars Objection to Homestead Value Exemption

Lawrence J. Kotler & Geoffrey A. Heaton

In In re Masingale, the U.S. Bankruptcy Appellate Panel for the Ninth Circuit held that in the absence of a timely objection, debtors who claimed a homestead exemption of "100% of FMV" in their residence had a valid exemption claim for the full fair market value of the property.

Features

Bankruptcy Court Rules Limited Partnership Agreement Is Not an Executory Contract Image

Bankruptcy Court Rules Limited Partnership Agreement Is Not an Executory Contract

Andrew C. Kassner & Joseph N. Argentina Jr.

Certain types of agreements, such as real estate leases, clearly are executory contracts subject to assumption or rejection in bankruptcy cases. But what about the partnership agreement itself?

Features

Courts and Plaintiffs Lawyers Question Viability of 'Texas Two-Step' Image

Courts and Plaintiffs Lawyers Question Viability of 'Texas Two-Step'

Christine Schiffner

As defendants increasingly seek bankruptcy as a resolution to multidistrict litigation claims, plaintiffs firms and judges are starting to ask questions about the legitimacy of the tool commonly referred to as the "Texas Two-Step."

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