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You represent an investor who relied on an agent to make investment-related decisions on the investor's behalf. You need to determine whether the investor, as a subsequent transferee, is protected under Section 550(b)(1) of the Bankruptcy Code. Check...

Transactional bankruptcy attorneys handle a variety of matters, including advising, negotiating, and documenting (1) in and out of court restructuring transactions, (2) financing agreements, and (3) acquisitions. Check out this resource kit including...

In the Hertz bankruptcy case, the U.S. Court of Appeals for the Third Circuit found that Hertz (as a solvent debtor) must repay make-whole amounts and post-petition interest before it could make a distribution to shareholders. Check out this expertly...

Chapter 11 debtors and courts are still grappling with the effect of the Harrington v. Purdue Pharma . In the decision, the Supreme Court did not address what constitutes a consensual third-party release. Check out this expertly drafted article discussing...

Teaching new associates about adversary proceedings in bankruptcy? We make it easy for you with guidance and ready-made PowerPoint slides. Read now » Related Content Adversary Proceedings Read this discussion of adversary proceedings commenced...

The discharge is an order entered at the conclusion of a bankruptcy case releasing the debtor from liability for certain debts that, under the Bankruptcy Code, are dischargeable in bankruptcy. Check out this resource kit covering topics related to a debtor's...

Practical Guidance now offers multiple trackers for you to keep up to date on key DIP financing terms and review select DIP credit agreements. The trackers also link to the docket on Courtlink so you can review the DIP orders. Don’t forget to set...

Section 363 asset sales of a foreign debtor's U.S. assets are increasingly common in Chapter 15 cases. U.S. bankruptcy courts face several important issues in assessing the propriety of such sales. Check out this expertly drafted article discussing...

After all these years, we are still trying to figure out whether a trustee or DIP may assume or assign a contract that cannot be assigned under applicable law without the non-debtor counterparty's consent. Check out this expertly drafted article discussing...

As many bankruptcy lawyers know, the language of Section 502(b)(6) of the Bankruptcy Code—the provision that specifies the maximum allowed amount of a landlord's claim for lease termination damages— is confusing, and it has led to a number...

Chapter 11 debtors may seek commitments from creditors to vote in favor of their Chapter 11 plans prior to or during the case. Check out this expertly drafted article discussing a recent decision where the court severed a provision in certain postpetition...

In-house counsel may advise internal clients on bankruptcy matters and non-bankruptcy alternatives. Check out this resource kit for a collection of Practical Guidance materials covering many of the tasks and issues that in-house attorneys regularly address...

Recently, the Third Circuit held that Mallinckrodt could discharge its obligations to pay future royalties. Check out this expertly drafted article discussing this decision. READ NOW » Related Content Intellectual Property Agreements: The...

Bankruptcy Code Section 503(c)(1) includes strict requirements for a court to approve retention plans for insiders. Recently, U.S. Bankruptcy Judge Michael E. Wiles of the U.S. Bankruptcy Court for the Southern District of New York issued a ruling in...

Single asset real estate (SARE) Chapter 11 cases generally arise when a SARE debtor is forced to file for bankruptcy relief to stop an impending foreclosure sale. Watch this expert video highlighting what is required for a debtor to qualify as a SARE...

You represent several troubled companies and need to explore whether a non-bankruptcy alternative is viable for your clients. Practical Guidance allows you to compare assignments for the benefit of creditors, receiverships, and Article 9 statutes in several...

On June 27, 2024, the Supreme Court held that the Bankruptcy Code does not authorize nonconsensual third-party releases as part of a plan of reorganization under Chapter 11. Harrington v. Purdue Pharma L.P., 144 S. Ct. 2071 (2024). Chapter 11 debtors...

The 2024 Bankruptcy Threshold Adjustment Extension Act was introduced in the Senate on April 13, 2024. The act would extend the $7.5 million debt limit for Subchapter V cases for an additional two years. Unfortunately, the law has not yet been enacted...

Thus far, 2024 has been quite a year! Most will remember it as the year the Southern District of New York amended their guidelines for prepackaged bankruptcy cases and issued procedural guidelines for prearranged bankruptcy cases. Check out our checklist...

Delaware bankruptcy courts have uniformly denied derivative standing to official creditors' committees in cases where applicable non-bankruptcy law provides that creditors do not have standing to bring claims on behalf of certain entities. Recently...

The United States Supreme Court issued its long-anticipated decision in Purdue Pharma L.P .'s bankruptcy case. The Supreme Court held that the Bankruptcy Code does not authorize a release that, as part of a plan of reorganization under Chapter 11...

In Transform Holdco , the United States Supreme Court resolved a split among the Circuit Courts as to whether Section 363(m) is a jurisdictional provision (i.e., depriving an appellate court of jurisdiction to hear a challenge to a sale order). Check...

You represent several international corporations that are considering filing insolvency proceedings in foreign jurisdictions. As a result, you need to explore filing cases under Chapter 15. Check out this expertly-drafted article discussing a recent bankruptcy...

Recently, the Supreme Court held that insurers that have financial responsibility for bankruptcy claims are parties in interest with standing to object to a Chapter 11 plan. Be sure to read our client alert about this case. Read now » Related...

As bankruptcy lawyers know, confirmation is not the end of a case. A bankruptcy court’s jurisdiction continues after confirmation of a plan of reorganization or liquidation in a Chapter 11 bankruptcy case. Check out this practice note discussing...