Bankruptcy

Recent Posts

A Chicago Bankruptcy Case Lands at the US Supreme Court: The RadLAX Oral Argument - Part I
Posted on 24 Apr 2012 by Steve Jakubowski

Chicago bankruptcy professionals descended on the US Supreme Court to catch the final chapter in the RadLAX bankruptcy saga, one that had a remarkably swift journey to the highest court of the land. The case started as the neglected stepchild of Amalgamated... Read More

The Permissibility of Class Action Proofs of Claims in Chapter 11 Cases
Posted on 14 Dec 2011 by Kenneth H. Eckstein

Excerpt from 2011 Emerging Issues 6099 The filing of a chapter 11 bankruptcy petition automatically stays "the commencement or continuation, including the issuance or employment of process, of a judicial, administrative, or other action or proceeding... Read More

Not Required, But Still Appropriate - Judge Glenn Appoints Examiner in ResCap
Posted on 29 Jun 2012 by Kelley Drye & Warren LLP

The chapter 11 case of mortgage lender and servicer Residential Capital, LLC ("ResCap") is fascinating on a number of levels. Its parent company, Ally Financial, Inc. ("AFI"), hopes to use ResCap's bankruptcy to extricate itself... Read More

Bankruptcy Judge: Plaintiffs, Lawyers Covered Up Evidence in Garlock Meso Cases
Posted on 14 Jan 2014 by Emerson Heffner

CHARLOTTE, N.C. — (Mealey’s) Chapter 11 debtor Garlock Sealing Technologies LLC’s total estimated liability for present and future mesothelioma claims is only $125 million, not $1.2 billion as asbestos personal injury claimants argued... Read More

Creditor Opposition to a Prepackaged Chapter 11 Plan
Posted on 9 Dec 2010 by LexisNexis Bankruptcy Law Community Staff

by George E.B. Maguire and Jasmine Ball This Emerging Issues Analysis addresses creditor opposition to a prepackaged chapter 11 plan. Presented with a "coercive" prepackaged bankruptcy, there are two broad lines of defense open to an opposing... Read More

Adam C. Rogoff on Property of the Estate in Hospital and Health Care Business Chapter 11 Cases
Posted on 20 Dec 2010 by Adam C. Rogoff

In this Emerging Issues commentary, Adam C. Rogoff discusses the definition of "property of the estate" in the case of the bankruptcy of a hospital or other health care facility. It may include certain unique assets such as certificates of need... Read More

Bip . . . Bip . . . Bip . . . "Pong" Creator Atari Files for Chapter 11
Posted on 23 Jan 2013 by Kelley Drye & Warren LLP

Atari, Inc., the creator of the primordial video game " Pong ", filed for Chapter 11 Jan. 21 in the U.S. Bankruptcy Court for the Southern District of New York. Its parent company, Atari SA, simultaneously sought bankruptcy protection in... Read More

Tags: Atari , Chapter 11

Robert Stocker and Peter Kulick on Gambling Casino Chapter 11 Bankruptcy Cases
Posted on 5 Oct 2011 by LexisNexis Bankruptcy Law Community Staff

On this edition, Robert W. Stocker II and Peter J. Kulick of Dickinson Wright PLLC in Lansing, Mich. discuss key legal issues arising in gambling casino chapter 11 bankruptcy cases. They analyze factors contributing to the rise in such filings and unique... Read More

Auto-Hauler Allied Systems Holdings' Car Wreck of a Chapter 11 Case May Finally Be at an End
Posted on 19 Sep 2013 by Kelley Drye & Warren LLP

Many commentators have remarked that a “new normal” has evolved for Chapter 11 proceedings , wherein the major constituents negotiate the salient terms and exit strategy of the debtor’s restructuring prior to the filing of the bankruptcy... Read More

Critical Vendor Status in a Business Reorganization
Posted on 9 Dec 2010 by Patrick McCraney

Often a company that is involved in a formal restructuring (such as Chapter 11) has incurred pre-petition trade debt with various vendors and suppliers. Many of these vendors and suppliers are critical to the business (or at least more critical than... Read More

Twinkie Maker Hostess Seeks Liquidation as Deal with Unions Breaks Down
Posted on 16 Nov 2012 by James Cordrey

NEW YORK - (Mealey's) Twinkie maker Hostess Brands Inc., which had been proceeding with a bankruptcy reorganization plan, moved in the U.S. Bankruptcy Court for the Southern District of New York on Nov. 16 for authorization to convert its proceeding... Read More

New Publication: Collier Guide to Chapter 11: Key Topics and Selected Industries
Posted on 28 Sep 2010 by LexisNexis Bankruptcy Law Community Staff

The Collier Guide to Chapter 11: Key Topics and Selected Industries is the latest addition to the Collier line of bankruptcy products from LexisNexis. Written by over 20 bankruptcy lawyers from leading firms, the Guide takes an in-depth look at the key... Read More

ABI Commission Considers Future of Chapter 11 (Austin Hearing Pt. 1)
Posted on 5 Dec 2013 by Stephen Sather

The ABI Commission studying reform of Chapter 11 met for its seventeenth and final time at the UT Bankruptcy Conference in Austin, Texas on Friday November 22, 2013. The Commission heard from a total of eight witnesses on a variety of topics. Seven of... Read More

Tags: Chapter 11

David Kuney Discusses Special Issues in Chapter 11 Cases Involving Real Estate Businesses.
Posted on 20 Jun 2011 by LexisNexis Legal Business Community Staff

On this edition, David R. Kuney of Sidley Austin LLP discusses some of the key legal issues that arise in real estate Chapter 11 cases. He touches on how bankruptcy cases have changed over the years, developments in the new value exception to the absolute... Read More

Diocese of Milwaukee Seeks Chapter 11 Protection From Sexual Abuse Claims
Posted on 6 Jan 2011 by Stephen Sather

The Diocese of Milwaukee filed a petition for chapter 11 relief on January 4, 2011 after twenty years of dealing with sexual abuse claims and an unfavorable ruling on its insurance coverage. In re Diocese of Milwaukee , Case No. 11-20059 (Bankr. E... Read More