LexisNexis is presenting a free webinar "Chapter 11 Reorganization: Hot Topics and Industry Perspectives," on Tuesday, October 19 , beginning at 2 pm ET. CLE credit is available where LexisNexis is approved for webinar training CLE.
On this edition, Irwin A. Kishner and Paul A. Rubin of Herrick, Feinstein LLP discuss recent chapter 11 bankruptcy cases involving professional sports franchises and the unique issues that arise in such filings. They talk about the recent Texas Rangers...
This is a recording of a LexisNexis-hosted webinar -- "Chapter 11 Reorganization: Hot Topics and Industry Perspectives" -- that was conducted in October 2010. The webinar panel included several members of the authoritative team behind the latest...
In this Emerging Issues Analysis, four partners from the law firm of Jones Day offer their perspective on new section 108(i) of the Internal Revenue Code. The new provision creates a mechanism that will allow many borrowers to substantially reduce or...
The author wishes to thank his colleague, John T. Gregg, for his assistance in preparing this piece.
In this LexisNexis Emerging Issues Analysis, author Patrick Mears examines long term supply contracts in auto supplier bankruptcies, posing the question...
A hotel property derives much of its value from its operator
and brand. When a hotel owner is in distress with respect to its loan
obligations, the operator also plays a critical role in the resolution of the
Emerging Issues Analysis, James M. Lawniczak addresses decisions from the Third
and Fifth Circuits holding that secured creditors do not have an absolute legal
right to credit bid when their collateral is sold through a plan of
Parties challenging a bankruptcy court's final order almost always must take a direct appeal or be forever barred from collateral attack, even when the order contains a clear legal error. Further, when a statute permits a court to act only if certain...
from Cravath, Swaine & Moore consider the Third Circuit's decision in In re
Philadelphia Newspapers. This decision, along with the decision in In re
Pacific Lumber, marks a significant departure from long-held expectations of
retaining a Virginia
law firm to help stave off a wrongful foreclosure should keep this useful fact in mind:
your lawyer's job will be a lot easier if you take legal action before the bank forecloses on
your property. Seek legal...
Lawniczak considers the circumstances under which the doctrine of equitable
mootness prevents appellate review of a consummated plan of reorganization. In
particular, he focuses on three recent appellate cases, from the Fifth, Sixth
And so, with these fighting words by President Obama, Chrysler files for bankruptcy in the Bankruptcy Court for the Southern District of New York. Clearly, we're in uncharted waters as never has the Office of the President become so engaged in the...
The National Association of Consumer Bankruptcy Attorneys (NACBA) issued a statement Feb. 19 supporting President Obama's plans to restructure home mortgages, and take other steps, to deal with the growing number of consumer bankruptcies.
The city of Central Falls, R.I., battered by debt and
years of financial woes, has filed for bankruptcy protection.
Central Falls has Rhode Island's highest unemployment
rate - about 15 percent - and the state's lowest per-capita income,...
Salerno & Jordan Kroop
On November 1, 2011, Frank
McCourt (the ultimate owner of the storied Dodgers baseball team) and Major
League Baseball (" MLB ") announced a
deal in principle that would end an extraordinary battle...
Since the Supreme Court dropped its constitutional bombshell on the bankruptcy system last week in Stern v. Marshall , 2011 U.S. LEXIS 4791 (2011) (aka Anna Nicole Smith II), [ enhanced version available to lexis.comsubscribers / unenhanced version available...
In law school, students cope with concepts of subject
matter jurisdiction, personal jurisdiction and stating a cause of action in
civil procedure class. When they move on to bankruptcy class, they must try to
make sense of the constitutionality of...
by David R. Kuney and Jeffrey E. Bjork
In this Emerging Issues
Analysis, two partners at Sidley Austin look at the enforceability of springing
guaranties. A springing guaranty is a guaranty that becomes effective upon the
occurrence of a certain...
If you ever needed proof that tax refund anticipation
loans are bad idea for the borrower, just take a look at what is happening to
Jackson Hewitt's share price has plummeted 42% to a record low as the company
faces the prospect...
A Montana blogger has learned that First Amendment
freedoms do not extend to saying that a bankruptcy trustee is "guilty of Fraud,
Deceit on the Government, Illegal Activity, Money Laundering, Defamation,
Harassment" among other things. In...
my last post , I posited whether the Court's decision in Stern v. Marshall would be a bombshell or a dud. It
certainly was no dud. And after reading the 5-4 opinion, I'd say that
it's a bombshell in several respects, both from a bankruptcy...
Herbert Stettin, the bankruptcy trustee appointed to
recover assets for the benefit of victims defrauded by Scott Rothstein's $1.4
billion Ponzi scheme, filed
several more clawback suits seeking the return of funds spent by Rothstein
RIVERSIDE, Calif. - (Mealey's) The City of
San Bernardino, Calif., filed its much-anticipated petition for Chapter 9
bankruptcy in the evening of August 1 in the U.S. Bankruptcy Court for the
Central District of California, citing more than $1...
Even as the financial crisis of 2008-09 began to ebb, the so-called "wall of debt" loomed large . Hundreds of billions of dollars of leveraged and high yield debt issued during the irrational exuberance era was coming due by 2014, threatening...
Hurricane Sandy, which caused widespread chaos throughout
the Northeast, has put federal courts based in Manhattan in their worst
operational crisis since the 9/11 terrorist attacks. With only gasoline-fueled
generator power and widespread interruptions...