Retail Restructuring
November 02, 2017
Various debt-burdened retailers are looking to their intellectual property assets as a source of untapped value for refinancing transactions. While it remains to be seen which strategies will be most successful, IP assets will play a key role in future retail restructurings.
Recognizing the Signs of Financial Distress
November 02, 2017
Diagnosing financial distress, and the ability to address the relevant issues, is a necessary role of board members and senior executives. This article examines the types of distress, how to measure it versus how the capital markets measure it, and some of the tools and solutions a company has to address the issues during times of stress.
Third Circuit Defines 'Received' for Section 503(B)(9) Claims
October 02, 2017
In <I>Haining Wansheng Sofa Co., Ltd. v. World Imports, Ltd. (In re World Imports, Ltd.</I>), the Third Circuit firmly declared that "received" in Section 503(b)(9) connotes actual physical custody of the goods by the debtor. This turnabout in the interpretation of the meaning of "received" is a significant development, given that such claims frequently arise in business bankruptcies.
Ninth Circuit Reignites Debate over the Interplay of Sections 363, 365
October 02, 2017
Bankruptcy Code sections 363 and 365 provide different rights for different parties, and they usually operate independently of one another. However, in situations where the two sections overlap, a number of courts have held they are in conflict, because a party invoking one of the provisions will seek to override the interest of a party invoking the other.
On the Move
October 02, 2017
Kobre & Kim LLP announced that Daniel Saval has joined the firm's cross-border insolvency litigation practice as a partner in the New York office.…
Substantive Non-Consolidation Opinion Letters
September 02, 2017
<b><I>Considerations for Bankruptcy Counsel</I></b><p>Substantive non-consolidation opinion letters have long been a regular “check-the-box” item in large commercial real estate transactions. While substantive consolidation jurisprudence has not changed materially over the past decade, these opinion letters should not be treated lightly by borrowers or their counsel.
The Interminable 'Insured vs. Insured' Battle
September 02, 2017
<b><i>A New Obstacle to D&O Recoveries for Creditors</i></b><p>No matter how meritorious a claim may be, its ultimate value to creditors depends upon one thing — whether there is a viable source to satisfy any judgment obtained, since many D&Os do not have sufficient personal assets to satisfy any significant damages that may be awarded.
Third Circuit Denies Automatic Perfection of Oil Producer Liens
September 02, 2017
In a recently decided, but long-running dispute, the Third Circuit has found that oil producers do not hold automatically perfected security interests in product they sell to midstream intermediaries, nor are the proceeds generated through the subsequent sale of such product held in an implied trust for the benefit of the upstream producers.
On the Move
August 02, 2017
Who's doing what; who's going where.
