• February 27, 2018

    Justices Limit Ch. 11 Safe Harbor For Securities Clawbacks

    The U.S. Supreme Court on Tuesday resolved a circuit split over the scope of the Bankruptcy Code’s “safe harbor” provision exempting certain securities transactions from clawbacks, unanimously concluding that a transfer can be undone in bankruptcy if funds simply move through a financial institution without benefiting it.

  • February 26, 2018

    Seadrill Gains Restructuring Plan Support With Creditor Deal

    Seadrill Ltd. announced Monday it has reached a global settlement with a majority of creditors to advance an amended Chapter 11 restructuring plan that would inject the struggling offshore oil and gas driller with more than $1 billion in new capital.

  • February 26, 2018

    US Trustee, Creditor Slam Patriot National DIP, Sale Plans

    Bankrupt insurance services company Patriot National Inc. came under U.S. trustee and unsecured creditor fire in Delaware bankruptcy court on Monday for potential conflicts involving the corporation's chief restructuring officer and a proposal to grant broad liability releases to some pre-Chapter 11 targets of a suit filed by stockholders.

  • February 26, 2018

    Weinstein Co. Gearing Up For Bankruptcy As Sale Collapses

    The Weinstein Co. is readying for bankruptcy after a negotiated sale of the embattled film studio fell through following a New York attorney general lawsuit, according to a letter sent by company board members on Sunday and published in various reports.

  • February 26, 2018

    EFH Ch. 11 Sale Plan Confirmed By Del. Court

    Energy Future Holdings Inc. had the latest iteration of its Chapter 11 plan confirmed Monday in Delaware bankruptcy court when a judge overruled objections relating to a $275 million claim reserve fund and asbestos injury claims.

  • February 26, 2018

    Transmission Company Opens Ch. 11 To Rework $58M Debt

    Engineering and transmission developer Fallbrook Technologies Inc. filed for Chapter 11 in Delaware bankruptcy court on Monday, saying unexpected difficulties commercializing its new drivetrain system had left it unable to pay its $58 million in debt.

  • February 26, 2018

    Avaya Reaches $1.5M Ch. 11 IP Settlement With BlackBerry

    Telecom giant Avaya Inc. on Friday told a New York bankruptcy court it will be paying a Chapter 11 claim for at least $1.5 million to settle BlackBerry Corp.’s patent infringement claims against it.

  • February 26, 2018

    Fed Not Looking To Relax Bank Regulations, Top Official Says

    The Federal Reserve Board will continue seeking to provide more transparency on its “stress tests” that gauge whether big banks have sufficient cash to absorb major economic hits, but it does not intend to relax capital requirements and other key regulations put in place after the Great Recession, Fed Vice Chair Randal Quarles said Monday in Washington, D.C.

  • February 26, 2018

    Hawaii, NM Can't Get Better Position In Takata Ch. 11

    Hawaii, New Mexico and the U.S. Virgin Islands on Monday lost their bid to create a special status for their claims in Takata's Chapter 11 case, with a Delaware bankruptcy judge ruling the governments are already second in line for access to a shrinking, $1.5 billion fund.

  • February 26, 2018

    REIT Resource Capital Beats Investor Suit Over $41M Loss

    Resource Capital Corp. is off the hook for claims that directors and officers misled investors about a loan that led to a $41 million loss, with a New York federal court tossing several shareholder suits lodged against the real estate investment trust after its board refused to sue the directors and officers itself.

  • February 23, 2018

    DBSI Trustee Wants IRS To Return All Ponzi Funds

    The bankruptcy trustee of doomed Ponzi vehicle DBSI Inc. has moved for a quick win in its claw back suit against the IRS in Idaho federal court, arguing the federal tax authority is still on the hook for $3.6 million the company used to pay its principals’ income taxes.

  • February 23, 2018

    Ex-Fla. City Commissioner Sentenced For Corruption Scheme

    A former Opa-Locka, Florida, city commissioner was sentenced to 51 months in prison Thursday for coordinating government favors in exchange for bribes as part of a bribery and extortion conspiracy that involved several officials in the impoverished Miami suburb.

  • February 23, 2018

    Jevic Floats New Plan Settlement To Comply With High Court

    Bankrupt trucking firm Jevic Holding Corp. filed a modified settlement deal late Thursday in Delaware that it said addresses a U.S. Supreme Court ruling in relation to the structured dismissal of its Chapter 11 case and provides for payments of priority claims asserted by a group of terminated employees.

  • February 23, 2018

    EFH Says It's Nearing Resolution Of NextEra's Plan Objection

    Energy Future Holdings Inc. told a Delaware bankruptcy judge Friday that it was nearing resolution of an objection to its Chapter 11 plan ahead of a confirmation hearing set to begin Monday, saying issues over a $275 million reserve fund could be worked out before then.

  • February 23, 2018

    Tilton, Patriarch Hit With $10M Suit In TransCare Case

    The trustee for bankrupt ambulance company TransCare Corp. hit Lynn Tilton and her private equity firm Patriarch Partners with a $10 million clawback suit in New York bankruptcy court Thursday, alleging the onetime owners of TransCare blew up the company through mismanagement and an “outrageous” scheme.

  • February 22, 2018

    China Fishery Settlement Clears Way For Sale, Trustee Says

    A group of debtors in the Chapter 11 cases for China Fishery Group Ltd. asked a New York bankruptcy court on Wednesday to approve an intercompany claims settlement designed to clear the way for a sale of valuable interests in China Fishery’s prized operating companies in Peru.

  • February 22, 2018

    Radio-Control Car IP Holder Wants To Resume Hobbico Ch. 11

    A company holding several patents related to radio-controlled cars and planes asked to have the automatic stay of litigation lifted in Hobbico Inc.'s Chapter 11 case Thursday, saying its infringement claims against the debtor needed to be resolved in Texas federal court before the case could move forward.

  • February 22, 2018

    Tops Supermarket Can Tap $265M Ch. 11 Financing

    Regional supermarket chain Tops Markets LLC won approval for up to $265 million in financing for its nearly $1.2 billion Chapter 11 restructuring in New York bankruptcy court Thursday.

  • February 22, 2018

    EFH, Creditor Experts Won't Testify On Reserve Bond Issue

    Experts proposed to testify on issues about interest bonds at the plan confirmation hearing of Energy Future Holdings Inc. will not be permitted to take the stand next week after a Delaware judge said Thursday those issues aren’t relevant to confirmation.

  • February 22, 2018

    M&G Lienholder Priority Fight In Del. Awaits Sale Moves

    A Delaware bankruptcy judge put off a ruling Thursday on lienholder efforts to seek Texas court assignment of creditor priorities in M&G USA Corp.’s $1.7 billion Chapter 11, saying that an upcoming plant sale could clarify prospects for recoveries.

Expert Analysis

  • A Secured Creditor’s Guide To Navigating Chapter 11

    Stephanie Lieb

    To a secured creditor, a borrower filing for Chapter 11 protection can present a daunting proposition — from digesting the schedules and first-day motions and tracking the many deadlines to developing and implementing a strategy to maximize potential recovery. Stephanie Lieb of Trenam Law provides a map to help creditors traverse the process and emerge as unscathed as possible.

  • The Billing Evolution: How Far Along Is Your Firm?

    Sharon Quaintance

    In a recent study, 20 out of 25 law firms surveyed have made billing process improvement a top priority for 2018. Firms can foster consistency and increase efficiency at all stages of their billing cycle by focusing on a few specific procedures, say Sharon Quaintance and Christine Indiano at HBR Consulting.

  • 10 Tips For Effective Practice Before The 5th Circ.

    Justin Woodard

    The Fifth Circuit is among the busiest federal circuit courts in the country. What can you do to increase your chances of reaching oral argument? And if given the opportunity, how can you present a persuasive argument? Former Fifth Circuit clerk Justin Woodard, an associate at Jones Walker LLP, shares some advice.

  • Series

    Judging A Book: Saris Reviews 'Locking Up Our Own'

    Judge Patti Saris

    Having just completed a six-year term as chair of the U.S. Sentencing Commission, I read Yale Law School professor James Forman's new book, "Locking Up Our Own: Crime and Punishment in Black America," with particular interest, says Judge Patti Saris, chief judge for the U.S. District Court for the District of Massachusetts.

  • Creditors Beware: New, Simplified Ch. 13 Comes At A Price

    Harris Winsberg

    Changes to the federal bankruptcy rules taking effect on Dec. 1 will likely result in Chapter 13 and other cases moving more swiftly toward confirmation, but this efficiency could be at the expense of preoccupied or otherwise lackadaisical creditors, say attorneys with Troutman Sanders LLP.

  • Exploring The New-Value Exception In Multidebtor Cases

    Steven Fink

    While debtors have attempted to invoke the new-value exception in the multidebtor context, doing so raises a number of questions, and there is a surprising dearth of case law addressing how the exception should be applied in multidebtor bankruptcies, say attorneys with the Law Office of Steven J. Fink PLLC and Orrick Herrington & Sutcliffe LLP.

  • Enforcing Judgment Against A Debtor's Spouse

    Craig Weiner

    In the rare instance when otherwise collectible assets are owned by a debtor’s spouse — who is not liable on the underlying judgment — a creditor must be determined and creative in order to recover on its judgment, say Craig Weiner and Michael Kolcun of Robins Kaplan LLP.

  • Roundup

    Judging A Book

    Justice and Empathy

    Are the latest books on the judicial system worth reading? Federal judges share their thoughts in this series of book reviews.

  • Don't Waste This Planning Cycle: Year-End Strategies

    Hugh A. Simons

    Law firms are businesses where partners operate with significant autonomy. To see their priorities translate into individual partner action, firm leaders should use a few collaborative strategies, suggests Hugh A. Simons, former senior partner of The Boston Consulting Group and former COO of Ropes & Gray LLP.

  • Creditors’ Options In Venezuela’s Disorderly Default

    Javier Rubinstein

    By analyzing the case law from Argentina’s default in 2001 and the terms of the Venezuelan bonds, it is possible to predict how a disorderly default might play out in Venezuela's debt crisis. Attorneys with Kirkland & Ellis LLP examine key elements from Argentina’s default in order to predict whether history is likely to repeat itself.