Business Reorganization Committee

Committees

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

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.

Post date: Tuesday, May 17, 2016

The past 25 years have marked a growing trend toward the legalization and decriminalization of marijuana. Twenty-three states have legalized the drug’s medical use, with four states and Washington, D.C., going a step further by permitting its recreational use for adults over the age of 21.

Post date: Tuesday, May 17, 2016

Editor’s Note: For more on this topic, purchase Municipalities in Peril: The ABI Guide to Chapter 9, Second Edition, available in the ABI Bookstore (abi.org/bookstore). Members must log in first to obtain reduced pricing.

Post date: Tuesday, May 17, 2016
Photo of Michael Mikikian
Michael Mikikian

The current process for administering chapter 7 cases was established at a time when paper documents had to be hand-delivered to the courts for processing. It was an era of “runners.”

Post date: Thursday, March 10, 2016
Photo of Salene Mazur Kraemer, MBA, CTA
Salene Mazur Kraemer, MBA, CTA

On Nov. 13, 2015, in the U.S. Bankruptcy Court for the Southern District of New York, Judge Glenn issued a memorandum opinion in In re Vivaro Corp., et al.[1] with the following rulings: (1) a claim objection against a foreign entity may be served by U.S.

Post date: Thursday, March 10, 2016

It is generally recognized that a sale of assets free and clear of successor liability claims (a “free-and-clear sale”) enhances the value of the bankruptcy estate because the purchaser will pay a higher premium for assets that do not carry liability.[1] There is often a tension between creditors — who seek to maximize their recovery —

Post date: Thursday, March 10, 2016

My Nebraska client has a problem, and he’s unhappy. He’s an $80,000 preference defendant in Delaware and must travel 1,200 miles (with his attorney) for a mandatory mediation of the disputed preference claim. Although he thinks that the claim is “bogus” (despite explanations to the contrary), he has a what-choice-do-I-have-but-to-capitulate perception of all this.

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

Ms. Jordana L. Renert
Co-Chair
Lowenstein Sandler LLP
New York, NY
(212) 419-5963

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

Ms. Jamie J. Fell
Education Director
Simpson Thacher & Bartlett
New York, NY
(212) 455-3822

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

Mr. Bradley A. Cosman
Special Projects Leader
Perkins Coie LLP
Phoenix, AZ
(602) 351-8205

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