Two years ago in Stern v Marshall [ an enhanced version of this opinion is available to lexis.com subscribers ], the Supreme Court surprised many observers by placing constitutional limits on the jurisdiction of the United States Bankruptcy Courts. The...
Everyone gathered last week at the meeting convened by Detroit Emergency Manager Kevyn Orr knew that the news would be dire. Nonetheless, Orr's report on Detroit's financial condition and his proposal for the treatment of the city's creditors...
Orr , the emergency manager appointed by Michigan
Governor Rick Snyder to try to resolve the Detroit financial crisis ,
has effectively replaced the Detroit mayor, former
NBA legend Dave Bing . However, it is Orr who in the upcoming weeks
Nearly nine months after it filed
for protection under Chapter 9 of the Bankruptcy Code , a federal bankruptcy
judge last week determined that the
city of Stockton, California has satisfied the requirements of Section 109(c)
of the Bankruptcy Code...
Distressed M&A is the "new normal" in Chapter 11
cases, as noted here
and elsewhere . Two
large media marketing and advertising companies, SuperMedia and Dex One , took the "new normal" to new
extremes last week by filing...
by Ben Feder
Specialty chapter 11 case began in what has become all too typical
fashion. The company, overleveraged and short of cash, had no choice but
to accept a lifeline extended by its second lien secured lender, a private
By nearly any measure, the Chapter 11 cases of Hawker Beechcraft and its affiliates
(the "Debtors") stand as a significant success. The cases began
as a standalone reorganization predicated upon a restructuring support
agreement (the "RSA"...