Below is a summary of the activity reported for July 2014. The reported stories reflect: 10 guilty pleas or convictions in pending cases; over 20 years of newly imposed sentences for people involved in Ponzi schemes; at least 8 newly discovered schemes...
A 7 th Circuit opinion authored by Chief Judge
Easterbrook last week had me again looking across the street at 203 North
LaSalle and wondering whether the US Supreme Court will ever finally decide
whether there is a "new value" exception...
The subprime and credit
crisis-related litigation wave may now be in its fourth year, but
lawsuits continue to come in. The latest of these suits - a securities
class action lawsuit involving Las Vegas Sands
- has a number of interesting features...
This article is an excerpt from the forthcoming Second Edition of Collier
Monograph: Employee Benefits and Executive Compensation in Corporate
Bankruptcy , written by John R. Cornell, Daniel C, Hagen, Tricia
Eschbach-Hall and Lisa Rothman Jesner...
The Means Test is the standard adopted in the 2005 amendments to the Bankruptcy Code to prevent individual high wage earners from filing a Chapter 7 liquidation. However, if more than half of the individual's debt is related to a failed business,...
This Emerging Issues Analysis considers a district court's
decision that lays out the rules and standards for mandatory and equitable
abstention. In the analyzed decision, mandatory abstention was not applicable
because the action was a core proceeding...
This Emerging Issues Analysis
addresses issues of statutory interpretation. Prof. Kenneth Klee examines the primary lesson
from from Schwab v. Reilly.
Prof. Klee writes: If a statute
contains a detailed definition of a term or concept that can have...
by Abhilash M. Raval , Tyson Lomazow , Samuel A. Khalil & Brian Kinney
Milbank, Tweed, Hadley & McCloy LLP, New York
Chapter 2 examines the effects of the turmoil in the credit and stock markets from 2008-2009 upon debtor in possession financing...
by Felton E. Parrish , Jo Ann J. Brighton & James E. Morgan
K&L Gates LLP, Charlotte and Chicago
The astounding bankruptcies of U.S. corporations bearing such household names as General Motors, Chrylser, and Lehman Brothers have made nearly...
Most of us have heard cocktail party talk about someone
who had a lot of assets but managed to file bankruptcy and keep all of their
stuff. Usually, the explanation has to do with exemptions and fully encumbered
property. However, every once in a while...
by Robert J.
Sawyer & Nelson, Portland, Maine
changes to the credit markets and the use of secured credit, case law
development and practice, preconfirmation all-asset sales-often very quick
by George E.B. Maguire
& Jasmine Ball
Plimpton LLP, New York
bankruptcies are resolved in court after a bankruptcy filing and once the
company is under bankruptcy court protection. However, some bankruptcies are
by John R.
Cornell , Daniel C. Hagen , Tricia Eschbach-Hall & Lisa Rothman Jesner
Day, New York and Cleveland
issues may arise with respect to employee benefits and executive compensation
when a business entity, typically a...
Jones Day, New
York and Cleveland
distressed corporations file for bankruptcy, they are almost always losing money.
And yet tax considerations play a surprisingly important role in the entire
bankruptcy process, from the...
City, New York
as both bankruptcy and intellectual property are highly specialized areas of
law, it is not surprising that matters where both come into play give rise to
some challenging questions. For instance...
Ronald J. Silverman
Bingham McCutchen LLP, New York
This chapter is intended as a reference source for
those contemplating chapter 15 proceedings. The chapter seeks to provide
guidance helpful to planning, filing, conducting, and obtaining court...
Neil E. Herman
Morgan, Lewis &
Bockius LLP, New York
Chapter 20 comprises a detailed survey of the
provisions of the Bankruptcy Code that are of significant importance in retail
bankruptcy cases or are "retail specific." The discussion...
Adam C. Rogoff
Kramer Levin Naftalis & Frankel, New York
22 provides an overview of issues that arise in hospital and other health care
bankruptcies. Many of these topics are also applicable to not-for-profit
E. Mears & John T. Gregg
Barnes & Thornburg LLP, Grand Rapids, Michigan
23 addresses legal issues that have come to the forefront in the context of the
large number of recent chapter 11 cases involving Tier I and Tier...
J. Edelman & Douglas J. Lipke
Vedder Price P.C., Chicago and New York
airlines in the United States utilize the bankruptcy laws to address numerous
economic issues affecting their businesses, including the following...
W. Stocker II & Peter J. Kulick
Dickinson Wright PLLC, Lansing, Michigan
intersection of bankruptcy law and the gaming industry produces a crossroad of
federal law and the regulation of an industry by states pursuant to the states'...
Andrews Kurth LLP, Houston
bank is in financial distress, government regulators often encourage the bank's
holding company to act as a source of strength by making loans, equity
infusions, and other asset transfers...
Frequently it makes sense for only one spouse to file bankruptcy. Where the husband has wracked up large business debts in his name only and the wife has significant separate property or sole management property, the husband can file bankruptcy without...
by David R. Kuney & Jeffrey E. Bjork
Sidley Austin LLP, Washington,
D.C., and Los Angeles
The notion that
commercial real estate projects are entitled to, or suitable for,
reorganization under chapter 11 of the Bankruptcy Code has encountered...
Many of us with kids of a certain age know the
Friday night ritual: take the kids to Blockbuster to rent a movie.
That era may be going away as companies find that they no longer need expensive
bricks and mortar stores to rent movies. Next up for...