Obituary
June 02, 2015
It is with great sadness that <I>The Bankruptcy Strategist</I> announces the passing of long-time editorial board member Harvey Miller.
'Operating Interests,' 'Working Interests,' 'Production Payments' and 'Overriding' Royalty Interests
June 02, 2015
The recent decline in oil prices and the historically low and stagnant natural gas prices are causing various parties in the oil and gas industries to seek bankruptcy protection. As a result, bankruptcy judges must apply specialized Bankruptcy Code provisions and varying other applicable non-bankruptcy laws to determine the rights of debtor and non-debtor parties to such agreements as those providing Overriding Royalty Interests (ORRI) and Net Operating Interests (NOI).
Chapter 9 Cases with Debtors Other Than Cities, Counties and Towns
June 02, 2015
Over the past several years, Chapter 9 has been the subject of unprecedented attention, both within the bankruptcy bar and among the public at large. This surge in interest is attributable to a number of high-profile Chapter 9 cases filed recently by cities, counties, and towns throughout the country.
Beware: Not All Communications Between Court-Appointed Bankruptcy Professionals Are Privileged
May 02, 2015
A successful Chapter 11 representation requires a close working relationship between the client's attorneys and non-attorney professionals, and the latter are generally kept fully abreast of the attorney's strategies on behalf of their common client. But where a communication otherwise protected by the attorney-client privilege is disclosed to, or made in the presence of a third party, the communication may no longer be, or deemed never to have been considered privileged.
Stalking Horse Bidder in Section 363 Sales: Benefactor or Predator?
May 02, 2015
Outside of U.S. bankruptcy usage, and for the vast majority of its life, the term "stalking horse" has referred to an artifice for predators. In some circumstances, a stalking horse bidder in a section 363 sale can more closely resemble the term's original meaning.
On the Move
April 02, 2015
Who's doing what; who's going where.
Credit Bidding: Secured Creditor Beware
April 02, 2015
The right to credit bid under section 363(k) of the Bankruptcy Code can be an important safeguard that protects a secured creditor against the risk that its collateral may be undervalued at an asset sale, and courts have traditionally described a secured creditor's right to credit bid as fundamental and near absolute. However, as some bankruptcy courts have recently reminded us, the right is not absolute, and may be limited by the bankruptcy court "for cause" under section 363(k) of the Bankruptcy Code.