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On April 7, 2022, the United States Senate passed the Bankruptcy Threshold Adjustment and Technical Corrections Act. If passed into law, it would restore the debt limit for Subchapter V cases back to $7.5 million (as the $7.5 million debt limit lapsed...

Did you know that several mega Chapter 11 bankruptcy filings have already been filed in 2022? Just last week, GWG Holdings, Inc. and certain of its subsidiaries filed mega Chapter 11 bankruptcy cases in the United States Bankruptcy Court for the Southern...

By: Ira L. Herman , Thompson & Knight LLP The price of crude oil, like the price of virtually all commodities, moves up in times of high demand and down in times of excess capacity. When a mismatch exists between supply and demand, the markets are...

By: Cameron Kinvig LEXIS PRACTICE ADVISOR RESEARCH PATH: Financial Restructuring & Bankruptcy > Identifying Bankruptcy Risk > Oil and Gas Agreements > Practice Notes With oil prices at multi-year lows, the upstream oil and gas industry...

By: Ira L. Herman , Blank Rome, LLP The Statutory Predicate for Recharacterization To increase their share of a finite bankruptcy pie, creditors, debtors and other parties in interest in a case will seek to reduce or eliminate competing claims. This...

By: Mark Haut , Lexis Practice Advisor This article provides general guidance for counsel retained to represent a party in interest in a bankruptcy proceeding. Bankruptcy cases involve myriad issues so coverage in this article is limited to certain...

By: Daniel G. Egan , Ropes & Gray LLP with updates by the Lexis Practice Advisor Attorney Team As the Coronavirus pandemic continues to impact our economy, many companies will need to consider whether to pursue a loan workout. This article examines...

Your client asks you to draft a true sale opinion. You don’t know where to start but then you remember that Practical Guidance has a detailed form with explanations. READ NOW » Related Content Non-Consolidation Opinion Use this form...

You represent a company that is in financial distress, and you need to help your client evaluate its options, including whether to file a prepackaged bankruptcy. READ NOW » Related Content Commencing a Prepackaged Bankruptcy Proceeding Read...

On March 31, 2022, Ruby Pipeline, L.L.C. filed a bankruptcy petition for relief under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware. The debtor is a midstream service provider and acts as a transporter...

You need to prepare your client for the Section 341 meeting of creditors. Check out this video discussing key components in preparing for a Section 341 meeting of creditors. READ NOW » Related Content Section 341 Meeting Preparation (Chapter...

Trustees play a vital role in most bankruptcy cases. Depending on the case, trustees may be appointed, elected, removed, terminated, or discharged. A trustee's responsibilities range from monitoring and supervising a debtor to taking control of a...

Your client received a letter demanding the return of millions in alleged preference payments. You need to reassure your client about the multitude of potential preference defenses. READ NOW » Related Content Preferences Review this practice...

You represent a Chapter 11 debtor that is ready to start the confirmation process and are working on a plan that will hopefully be accepted by the debtor’s lenders and creditors and other parties in interest. The plan must also comply with complicated...

By: Mark Haut, PRACTICAL GUIDANCE BANKRUPTCY TEAM with assistance from Emony Robertson, LEXISNEXIS RULE OF LAW FOUNDATION FELLOW This chart details the differences between Chapters 7 and 13 of the Bankruptcy Code and can be used to guide attorneys in...

Fraud or other misconduct is often an issue in a bankruptcy case. Fraud allegations against the debtor or insiders concern several areas of the Bankruptcy Code. Check out this resource kit for Practical Guidance materials on fraud in bankruptcy. READ...

We are all bogged down trying to keep track of everything in our personal and professional lives. We made things a little easier. Let us do the work when it comes to tracking new mega Chapter 11 bankruptcy filings. READ NOW » Related Content...

Read this practice note when you have meetings set up with your private equity and distressed debt investor clients and need to discuss loan to own transactions and advise them of their options. READ NOW » Related Content Market Trends 2021...

As we tackle this new year, we should remember the not-so-distant past. Check out this expertly-drafted article that looks back on 2021 bankruptcy cases and notable bankruptcy rulings. READ NOW » Related Content Another New York District...

It has been a few years since the Supreme Court’s decision in the Mission Product case. Your client asks whether its exclusive rights to provide services to the debtor survives rejection of the underlying contract. You may remember reading about...

In December, the District Court for the Southern District of New York found that the bankruptcy court erred in approving the third-party releases contained in the plan filed in the Purdue Pharma L.P.'s (Purdue) bankruptcy case. The district court...

Attorneys representing consumers in Chapters 7 and 13 must understand the differences between the chapters and ensure that everyone has equal access to both chapters under the Bankruptcy Code. READ NOW » Related Content Counseling a Consumer...

You represent various suppliers and creditors that want to protect their interests as they do business with distressed companies. You need to advise them of the steps they can take to protect themselves in case the distressed company files for bankruptcy...

Are you looking for something new to watch? Check out this video on the Chapter 13 means test to understand if a consumer debtor should file for Chapter 7 or Chapter 13 of the Bankruptcy Code. READ NOW » Related Content Chapter 13 Bankruptcy...

Attorneys representing a party in bankruptcy will often have to analyze or prepare a valuation analysis of the debtor or a lender’s collateral. Valuation issues implicate several sections of the Bankruptcy Code. READ NOW » Related Content...