Business Reorganization Committee


Post date: Tuesday, August 25, 2020

Could your chapter 11 debtor survive if its quarterly fees increased by 833%?

Post date: Monday, May 11, 2020

The safe harbor provision in 11 U.S.C. § 546(e) provides, in relevant part, that a trustee may not avoid a transfer “made by or to (or for the benefit of) a ... financial institution ...

Post date: Monday, May 11, 2020

FirstEnergy[1] sells electricity to customers in six states. It commenced a chapter 11 bankruptcy case in May 2018 in which it sought to reject long-term power purchase agreements (PPAs) entered into several years prior to bankruptcy.

Post date: Monday, May 11, 2020

The Supreme Court recently clarified that the finality of a bankruptcy court order is determined by evaluating whether the order unreservedly adjudicates a discrete proceeding or is part of a larger process. In Ritzen Group Inc. v.

Post date: Monday, May 11, 2020

The Fifth Circuit’s opinion in In re Ultra Petroleum[1] clarifies what “unimpaired” means under § 1124 of the Bankruptcy Code. The Fifth Circuit joined the Third Circuit[2] in holding that “[t]he plain text of § 1124(1) requires that ‘the plan’ do the altering.

Post date: Monday, May 11, 2020
Photo of Lindsay Zahradka Milne
Lindsay Zahradka Milne

In an opinion issued in December 2019, the Third Circuit found that the bankruptcy court below had constitutional authority to confirm a plan containing compelled third-party releases because — on the “specific, exceptional facts of [the Millennium Lab] case” — those releases were “integral to the restructuring of the debtor/creditor relationship.”

Post date: Thursday, October 03, 2019

Bankruptcy professionals have become quite accustomed to the increasingly common phenomenon of a troubled company filing a chapter 11 case and either simultaneousl

Post date: Tuesday, October 01, 2019

Hon. Jack B. Schmetterer of the U.S. Bankruptcy Court for the Northern District of Illinois issued a memorandum opinion dismissing a debtor’s lawsuit to equitably subordinate a secured lender’s claim. In re American Consolidated Transportation Cos. Inc., Adv. No. 10-00154, slip op. (Bankr. N.D. Ill. July 13, 2010).

Post date: Tuesday, July 23, 2019

Does a bankruptcy court have the power to enter a final order in a fraudulent-transfer action where the defendant has not filed a proof of claim, or is the bankruptcy court limited to submitting proposed findings of fact and conclusions of law to the district court for de novo review and entry of judgment? On March 11, 2019, in Paragon Litigation Trust v. Nobel Corp., et al.

Post date: Tuesday, July 23, 2019
Photo of George W. Fitting
George W. Fitting

In a “code-driven” discipline such as bankruptcy, third-party releases are a rare breed. As a form of equitable relief available to certain nondebtors in certain court-decreed circumstances in certain circuits, they are shrouded in a level of uncertainty seldom seen elsewhere. A recent holding from In re FirstEnergy Solutions Corp.


Ms. Jamie J. Fell
Simpson Thacher & Bartlett
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Smiley Wang-Ekvall, LLP
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Cole Schotz P.C.
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Wick Phillips Gould & Martin LLP
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Ms. Krista L. Kulp
Education Director
Cole Schotz P.C.
Hackensack, NY
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Membership Relations Director
Simpson Thacher & Bartlett LLP
New York, NY
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Ms. Colleen Restel
Newsletter Editor
Lowenstein Sandler LLP
Roseland, NJ
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Mr. Bradley A. Cosman
Special Projects Leader
Perkins Coie LLP
Phoenix, AZ
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