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Business Reorganization Committee

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Post date: Tuesday, September 30, 2014

The “presumption against extraterritoriality” is a statutory canon of construction that embodies the “longstanding principle of American law that legislation of Congress, unless a contrary intent appears, is meant to apply only within the territorial jurisdiction of the United States.”[1] Stated simply, it provides that “[w]hen a statu

Post date: Tuesday, September 30, 2014

[1]A powerful and commonly utilized tool in a restructuring is the commencement by a company of an insolvency proceeding, whether under the Bankruptcy Code or analogous law, in order to achieve desired changes to its capital structure and/or operations.

Post date: Friday, September 05, 2014

Editor’s Note: The following article, “Loehmann’s Department Store: A Case Study Questioning the § 365(d)(4) Liquidation Narrative Following BAPCPA,” won the prize for third place in the Sixth Annual ABI Bankruptcy Law Student Writing Competition. The author, Brian Phillips, is a student at University of North Carolina School of Law, Chapel Hill, N.C.

Post date: Friday, July 25, 2014

Editor's Note: The following article, "Bridging the Gap: Receivership and the Absence of Discipline in Chapter 9," won the prize for second place in the Sixth Annual ABI Bankruptcy Law Student Writing Competition. The author, Randall Thomas, is a student at New York University School of Law.

Post date: Wednesday, June 18, 2014

In certain situations, the sale of an operating entity as a going concern in a receivership proceeding is a viable alternative to seeking relief under the Bankruptcy Code. Receivership going-concern sales may be especially appropriate in complex situations where enterprise value is declining, but the company is not hopelessly insolvent.

Post date: Wednesday, June 18, 2014

Courts across the country have recently been confronted with disputes originating from the acquisition of distressed debt or loans by a party, and the subsequent chapter 11 bankruptcy case commenced by the debtor company.


Barouir Brian Yeretzian
Post date: Wednesday, June 18, 2014

The right to credit-bid is one of the most valuable rights afforded to secured creditors under the Bankruptcy Code. Credit-bidding is the process by which a secured creditor places a bid at a sale of the collateral to which its lien is attached, using the debt owed to it to offset the purchase price.[1] Section 363(k) of the Bankruptcy Code allows secured creditors to credit-bid when a debtor conducts a sale of assets outside the ordinary course of business.[2]

Post date: Wednesday, June 18, 2014

Collateral estoppel, or issue preclusion, is an important doctrine that protects parties from expensive and vexatious litigation where those parties have previously had a “full and fair opportunity to litigate” the issues.[1] Within the Third Circuit, “a court will bar re-litigation of an issue on collateral estoppel grounds when ‘(1)

Post date: Wednesday, June 18, 2014

Due to the increasing integration of the world’s economies, globalization is now a business reality, even for lower- and middle-market companies. Accordingly, it is becoming more commonplace for foreign debtors to initiate chapter 15 proceedings in the U.S. in connection with insolvency-type proceedings in their home countries.

Post date: Thursday, April 17, 2014

Editor’s Note: This is the second installment of a two-part series by the author. The first article was published in the December 2013 edition of the Business Reorganization Committee Newsletter.

The Bankruptcy Case: Determining Insolvency When Key Assets Are People

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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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