There are thousands of Chrysler and GM automobile dealerships around the country that are currently in the process of restructuring or winding down their businesses. Additionally, we have been involved in and noticed a significant number of other foreign manufacturer automobile dealer restructurings.
Professionals recognize that receiverships can provide a cost-effective and efficient way to liquidate failed businesses, and that receiverships can provide some bankruptcy benefits without the high cost or lengthy proceedings associated with bankruptcy cases. Receivership professional fees tend to be less than those incurred in a restructuring or liquidation under the Bankruptcy Code.
The U.S. biofuels industry-both ethanol and biodiesel-are well into a full-scale restructuring. Many companies are sitting idle, struggling with limited cash, ceasing operations, evaluating restructuring options or selling assets. Few, if any, players are prospering in the current environment.
At its core, the Obama administration's foreclosure prevention program makes mortgage servicing the lynchpin of a new process that looks to modify and refinance millions of delinquent and underwater mortgage loans.
With retailer bankruptcies on the rise, financial advisors need to be aware of the complications and pitfalls associated with gift cards. This article brings to light some of the issues faced when a retailer with a significant amount in outstanding gift cards files for bankruptcy proceedings.
This is the final article in a four-part series discussing collusion in bankruptcy sales. Part I discussed the prohibition of collusion in bankruptcy sales under §363(n) of the Bankruptcy Code. Part II discussed the difference between permissible collaboration and impermissible collusion.
At the ABI Winter Leadership Conference in December 2007, the Financial Advisors Committee, in concert with the Investment Banking Committee, the Public Company and Claims Trading Committee, and the Professional Compensation Committee had the pleasure of presenting a joint educational session following the presentation of ABI’s landmark Professional Fee Study by Professor Stephen Lubben of Seto
Why is it so hard to get straight answers or simple assistance from professionals in the commercial insurance industry during a period of corporate reorganization? A partial answer requires us to start with a broad understanding of how companies buy insurance.
The ability of chapter 11 debtors to maintain cash reserves is about to get harder. Hurricanes Katrina and Rita have put a dent in the entire nation's economy and likely will have a significant impact on corporate profits for at least the rest of this year.
Below are summaries of cases that I thought members of the committee may find interesting. The summaries appear in date order beginning in July.
Young Conaway Stargatt & Taylor, LLP
CR3 Partners LLC
Pack Law, P.A.
Fort Lauderdale, FL
O'Melveny & Myers LLP
San Francisco, CA
Special Projects Leader
Fox Rothschild LLP