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...
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...
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...
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...
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...
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...
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...
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...
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...
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
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...
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...
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...
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...
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...