[1]“Critical vendor” status is a blessing. Without such status, an unsecured creditor may receive little to no recovery in a traditional chapter 11.
Unsecured Trade Creditors Committee
Committees
In business reorganizations under chapter 11, third-party releases are important tools that often facilitate consensual plans of reorganization, greater recovery for creditors, and an expedited resolution of bankruptcy cases, particularly where a debtor faces mass tort claims.
In Levin v. Verizon Bus. Global LLC (In re OneStar Long Distance Inc.),[1] the U.S.
It is no secret that the IRS and other taxing authorities do well in bankruptcy, often at the frustration of both debtors and general unsecured creditors. For debtors, tax claims frequently are nondischargeable. For general unsecured creditors, IRS claims are entitled to higher priority.
Given the media saturation, it is virtually impossible for any American to be unaware of the allegations that Russia and President Putin interfered in the 2016 presidential elections. But only a much smaller subset of the population likely knows that Russia and then-Prime Minister Putin also played a key role in Eclipse Aviation Corp.’s bankruptcy case seven years earlier.
The Third Circuit Court of Appeals recently issued an important opinion addressing the question of when goods are “received” for purposes of § 503(b)(9) of the Bankruptcy Code in In re World Imports Ltd.[1] Reversing two lower courts, the appellate court held that in determining whether a seller is entitled to an administrativ
The U.S. Court of Appeals for the Third Circuit recently provided guidance to practitioners representing suppliers and materialmen looking to secure their otherwise unsecured debt through the filing of a mechanic’s lien following the bankruptcy of a contractor.
Editor's Note: For a new decision upholding a gift plan despite Jevic, see In re Nuverra Environmental Solutions Inc., 17-1024 (D. Del. Aug.
One of my very favorite things about bankruptcy practice is that it seems that for every decision from any particular court, you can usually find another decision from another court holding to the contrary. Divergent bankruptcy decisions often result from nuanced facts particular to the specific case.
One of a plan proponent’s primary tasks in the confirmation process is seeking the acceptance of creditors whose claims would be impaired under the proposed plan.
Ms. Lindsay Zahradka Milne
Co-Chair
Bernstein Shur
Portland, ME
(207) 228-7379
Co-Chair
Bernstein Shur
Portland, ME
(207) 228-7379
Mr. Daniel I. Waxman
Co-Chair
KEWA Financial Inc.
Lexington, KY
(859) 233-0352
Co-Chair
KEWA Financial Inc.
Lexington, KY
(859) 233-0352
Ms. Lauren Dorsett
Communications Manager
Davis Wright Tremaine LLP
Seattle, WA
(206) 622-3150
Communications Manager
Davis Wright Tremaine LLP
Seattle, WA
(206) 622-3150
Mr. Eric S. Chafetz
Education Director
Lowenstein Sandler LLP
New York, NY
(646) 414-6886
Education Director
Lowenstein Sandler LLP
New York, NY
(646) 414-6886
Ms. Samantha Martin
Newsletter Editor
Cleary Gottlieb
New York, NY
(212) 225-3341
Newsletter Editor
Cleary Gottlieb
New York, NY
(212) 225-3341
Mr. A.J. Webb
Newsletter Editor
Frost Brown Todd LLP
Cincinnati, OH
(513) 651-6842
Newsletter Editor
Frost Brown Todd LLP
Cincinnati, OH
(513) 651-6842
Mr. Jonathan J. Wernick
Special Projects Leader
B. Riley Advisory Services
Los Angeles, CA
(213) 409-6237
Special Projects Leader
B. Riley Advisory Services
Los Angeles, CA
(213) 409-6237