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Post date: Wednesday, November 29, 2017

The issue of nonconsensual third-party releases in chapter 11 plans continues to generate litigation. Releases and corresponding injunctions frequently insulate nondebtors — such as directors, officers or parent entities — from claims asserted by other nondebtors. Litigation regarding third-party releases has also involved jurisdictional issues, including those addressed in Stern v.


Donald L. Swanson
Post date: Wednesday, November 29, 2017

Bankruptcy courts “generally presume that good chapter 11 lawyers can and should negotiate without the help of an outside mediator.” However, some Chapter 11 cases are “so inherently complex” or “riddled” with “high levels of distrust” that “the presiding judge (or more rarely, the parties) views the appointment of a plan mediator as a virtual necessity from the

Post date: Wednesday, June 28, 2017

In the recent case of Calita Elston Robinson,[1] the U.S. Bankruptcy Court for the Northern District of Georgia addressed the issue of what the “interest at the legal rate” means under § 726(a)(5) of the Bankruptcy Code.

Post date: Wednesday, June 28, 2017

Profs. Richard M. Hynes (University of Virginia; Charlottesville, Va.), Anne Lawton (Lansing, Mich.) and Margaret Howard (Washington & Lee Law School; Lexington, Va.) recently published an article in the ABI Law Review on a groundbreaking study of chapter 11 cases for individual debtors.[1] The report profiles a typical individual who seeks protection and relief under chapter 11. The profile looks like this:

Post date: Tuesday, June 27, 2017

Section 1129(a)(10) of the Bankruptcy Code — requiring acceptance of a proposed plan from at least one impaired voting class — can often pose a unique challenge for single asset real estate debtors.[1] Indeed, finding an impaired accepting class may be the lynchpin for success in run of the mill single-asset bankruptcies, where debtors

Post date: Tuesday, June 27, 2017

Since 2004, thirteen Catholic dioceses have filed for bankruptcy protection. Although several dioceses filed before 2004, filings since then have been driven by mounting sexual abuse claims against the dioceses. In response to these filings, claimants are assembling formidable unsecured creditors’ committees. For the most part, these diocesan bankruptcies have resulted in settlements. However, adversary proceedings have drawn out several of these bankruptcies. The ownership of church assets has led to many disputes over what belongs to the entities being sued and what belongs to other separate organizations. Therefore, while the bankruptcy process has helped these religious organizations with protection from impending liabilities, it has also provided sexual abuse claimants with a venue to build substantial creditors’ committees and challenge the availability of assets.

Post date: Wednesday, June 07, 2017

Is bankruptcy the new “black” in the retail industry? With the rise in retail bankruptcies, some commentators believe repeat chapter 11 bankruptcy filings are the “hottest 2017 retail trend.”[1] “Chapter 22” is the designation given to these repeat filings.

Post date: Wednesday, June 07, 2017

In July 2016, the Seventh Circuit issued its decision in FTI Consulting v. Merit Mgmt. Grp. LP (FTI). There, the appellant asked the court to review the application of 11 U.S.C. § 546(e) (the safe harbor), which protects settlement payments made “by or to (or on the behalf of)” a broad range of financial institutions, intermediaries and brokers (collectively, financial actors) from many types of avoidance actions.

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Tue, 11/29/2016

The topic of the most recent Commercial Fraud Committee call, discussed the Uniform Voidable Transactions Act (UVTA), formerly named the Uniform Fraudulent Transfer Act (UFTA), which was amended (and retitled) in 2014 for the first time since its creation in 1984.  According to the Uniform Law Commission, the amended Act, which strengthens creditor protections by providing remedies for certain transactions by a debtor that are unfair to the debtor’s creditors, addresses a small number of narrowly-defined issues and is not a comprehensive revision of the Act.

Fri, 04/15/2016

Public Securities and the Bankruptcy Plan Process: What Not to Do

Tue, 09/08/2015

The Asset Sales Committee will host John Hutton and Henry Jaffe as they discuss the GM successor liability decision, now on appeal in the Second Circuit, describing the arguments and positions taken by different parties on key issues in the case and discussing the potential impact of the ruling on appeal.

Sat, 04/18/2015

Tax-Sharing Agreements in Bankruptcy that Have Been the Subject of Recent Appeals Courts Decisions

Tue, 09/23/2014

The Business Reorganization Committee held a free committee wide call on Tuesday, September 23rd, at 4 pm ET. The topic was titled "Looking at International Insolvency/Restructurings Through the Bankruptcy Code and Beyond," and featured key speakers, including: Patrick Mohan (Moderator) of Reorg Research (Columbia, S.C.), Rachel Ehrlich Albanese of Akin Gump Strauss Hauer & Feld LLP (New York), G.

Mr. Charles M. Berk
Co-Chair
Co-Practice Leader
CBIZ Corporate Recovery Services
5 Bryant Park
New York NY
10018-1878
(212) 790-5883

Mr. Brent I. Weisenberg
Co-Chair
General Counsel
Platinum Credit Management, L.P.
230 Park Avenue, Suite 135
New York NY
10169
(212) 271-7797

Ms. Jordana L. Renert
Newsletter Editor
Associate
Arent Fox LLP
1675 Broadway Fl 34
New York NY
10019-5849
(212) 457-5476

Ms. Ronni N. Arnold
Communications Manager
Associate
Shearman & Sterling LLP
599 Lexington Ave
New York NY
10022-6030
(212) 848-4669

Mr. Dan B. Besikof
Education Director
Partner
Loeb & Loeb LLP
345 Park Ave Fl 21
New York NY
10154-2000
(212) 407-4129

Mr. Shane G. Ramsey
Education Director
Partner
Nelson Mullins Riley & Scarborough, LLP
One Nashville Place 150 Fourth Avenue North, Suite 1100
Nashville TN
37219
(615) 664-5315

Mr. Charles W. Azano
Membership Relations Director
Associate
Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC
1 Financial Ctr Fl 38
Boston MA
02111-2641
(617) 348-1843

Mr. Satish T. Kodali
Membership Relations Director
Test12
ABI Test Account
66 Canal Center Plz 6000
Alexandria VA
22314
(232) 232-2334

Mr. Patrick R. Mohan
Special Projects Leader
Distressed Debt Legal Analyst
Reorg Research Inc.
1329 Ellison Rd
Columbia SC
29206-4524