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Business Reorganization Committee

Committees

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.

Post date: Thursday, December 22, 2016

2016 was a busy year for the Business Reorganization Committee. We have an active and involved membership base, and took part in multiple panels, newsletters, publications and networking. We have terrific plans for 2017 and beyond in support of you, our members, in the arena of business reorganizations.

Post date: Monday, September 19, 2016

On June 30, 2016, the U.S. Bankruptcy Court for the Southern District of New York issued yet another decision around the Johns-Manville asbestos litigation. Before the court was Graphic Packaging International’s emergency motion to enforce the confirmation and channeling orders in the Johns-Manville Corp. (“Manville”) and the Manville Forest Products Corp. (“MFP”) chapter 11 cases.

Post date: Monday, September 19, 2016

The “safe harbor” under § 546(e) of the Bankruptcy Code continues to be a “hot topic.” The safe harbor is often invoked by shareholders to protect their “settlement payments” in a leveraged buyout (LBO).


George P. Angelich
Post date: Monday, September 19, 2016

In 2009, General Motors (“Old GM”) commenced an historic chapter 11 case. With federal government backing, Old GM sold the bulk of its business and assets “free and clear” of liabilities to the new entity (“New GM”) predominantly owned by the U.S. Treasury, emerging from chapter 11 in just 40 days.

Post date: Wednesday, June 29, 2016

The basic elements and defenses for fraudulent-transfer claims have a certain elegant balance when combined (see the attached table below). For constructively fraudulent transfers by an insolvent transferor, a defendant who provides reasonably equivalent value will not be held liable.

Post date: Wednesday, June 29, 2016

A debtor’s bankruptcy schedules of assets and liabilities (Schedules) and statement of financial affairs (SOFA) are filed early in a chapter 11 case and are supposed to contain an accurate and complete listing of all assets and liabilities, signed by a responsible party under oath.

Post date: Wednesday, June 29, 2016

The “automatic stay” is one of the most fundamental debtor protections under the Bankruptcy Code. On rare occasions, courts have used their equitable powers under Bankruptcy Code § 105 to enjoin actions against nondebtors, usually arising from the same litigation plaguing the debtor. In late 2015, the Seventh Circuit Court of Appeals decided Caesars Entertainment Operating Co. v.

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Ms. Ronni N. Arnold
Co-Chair
Shearman & Sterling LLP
New York, NY
(212) 848-4669

Ms. Jordana L. Renert
Co-Chair
Arent Fox LLP
New York, NY
(212) 457-5476

Mr. Jacob Frumkin, Esq.
Communications Manager
Cole Schotz P.C.
Hackensack, NJ
(646) 563-8944

Mr. Robert S. Marticello
Education Director
Smiley Wang-Ekvall, LLP
Costa Mesa, CA
(714) 445-1000

Mr. Clayton George Gring, III
Membership Relations Director
AlixPartners LLP
Houston, TX
(214) 697-3367

Ms. Krista L. Kulp
Newsletter Editor
Cole Schotz P.C.
Hackensack, NY
(201) 525-6317

Ms. Jamie J. Fell
Special Projects Leader
Simpson Thacher & Bartlett
New York, NY
(212) 455-3822

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