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Another Appellate Court Vacates A Bankruptcy Court Contempt Judgment Image

Another Appellate Court Vacates A Bankruptcy Court Contempt Judgment

Michael L. Cook

The Southern District of New York vacated a bankruptcy court's judgment holding a debtor's business competitor "in contempt for violation of the [Bankruptcy Code's] automatic stay … and assessing sanctions" of $19.2 million.

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What Can We Learn from the FTX Bankruptcy? Image

What Can We Learn from the FTX Bankruptcy?

Steven Salkin

The sudden and spectacular crash of crypto-exchange FTX will send long-lasting tremors through both the nation's financial regulatory and bankruptcy landscapes.

Features

Successor Liability Claims Constitute a 'Property Interest' for Purposes of a 363 Sale In Bankruptcy Image

Successor Liability Claims Constitute a 'Property Interest' for Purposes of a 363 Sale In Bankruptcy

Rudolph J. Di Massa Jr. & Malcolm Bates

In In re Norrenberns Foods, the U.S. Bankruptcy Court for the Southern District of Illinois had occasion to rule on a creditor's objection to the sale of a debtor's assets.

Features

District Court Provides Guidance on 'Psychedelic Confusion' Image

District Court Provides Guidance on 'Psychedelic Confusion'

John J. Rapisardi & Matthew Kremer

The U.S. District Court for the Southern District of New York recently provided critical guidance on what the court observed as the "psychedelic confusion" surrounding the intersection of Bankruptcy Code §365, governing the assumption and rejection of executory contracts, and Bankruptcy Code §503, governing administrative priority.

Features

Inflation, Interest Rates, and Already-Increasing Commercial Bankruptcy Filings Image

Inflation, Interest Rates, and Already-Increasing Commercial Bankruptcy Filings

Erich N. Durlacher

What Should Financial Institutions Do Now In Anticipation of a Potential (and Long-Awaited) Downturn What should a prudent lender be doing right now to "brace" itself for the coming financial uncertainty? Adopt a five-point "CAPER" strategy: Communicate, Analyze, Preserve, Execute, and Resolve.

Features

Fifth Circuit Follows Ninth Circuit, Allows Post-Bankruptcy Contract Rate Interest In Solvent Debtor Case Image

Fifth Circuit Follows Ninth Circuit, Allows Post-Bankruptcy Contract Rate Interest In Solvent Debtor Case

Michael L. Cook

"… [B]ecause Congress has not clearly abrogated the solvent-debtor exception," the U.S. Court of Appeals for the Fifth Circuit held that a reorganized solvent debtor had to "pay what it promised now that it is financially capable."

Features

Cybercrime and Bankruptcy: The Crypto Winter Image

Cybercrime and Bankruptcy: The Crypto Winter

Sean J. Coughlin & Vivian B. Isaboke

It comes as no surprise that the crypto winter has reinforced the perception of critics that digital currencies are "risky, flawed and unproven digital financial instruments." This article analyzes the state of the cryptocurrency market and examines the impact of cybercrimes and crypto bankruptcies on the current market.

Features

Sixth Circuit Adds Results-Based Contingency to Fee Payment Approval Image

Sixth Circuit Adds Results-Based Contingency to Fee Payment Approval

Charles M. Tatelbaum & Corey D. Cohen

A recent decision from the U.S. Court of Appeals for the Sixth Circuit may be creating a tsunami of concern to those that represent bankruptcy trustees. The decision, in essence, takes an hourly fee arrangement between the trustee and the trustee's attorneys and adds a results-based contingency to the approval of any fee payment authorization by the bankruptcy court.

Features

Upcoming Webinar: Reorganization Ethics and Fees Image

Upcoming Webinar: Reorganization Ethics and Fees

Michael Cook

A discussion on the ethical restraints on professionals imposed by the Bankruptcy Code, Bankruptcy Rules, and the ABA Code of Professional Conduct. Also, how the rules work and can affect your case.

Features

The Benefits of Subchapter V — But Are You Guaranteed to Stay? Image

The Benefits of Subchapter V — But Are You Guaranteed to Stay?

Sean C. Kulka

Although Subchapter V may create a clearer path to confirmation, debtors must be aware of, and (absent an extension by the court) comply with, the more stringent timing requirements, such as the requirement of filing a plan within 90 days after filing bankruptcy.

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