By Andrew Denney | October 20, 2022
Bankruptcy Judge Robert Drain allowed a trustee in the bankruptcy for upstate New York grocery store chain Tops Market to proceed with a lawsuit alleging that Morgan Stanley, which had a controlling stake in Tops from 2007 to 2013, and other investors pushed Tops into Chapter 11 proceedings by paying themselves more than $375 million in stock dividends while neglecting to address the chain's unfunded pension liabilities.
New York Law Journal | Analysis
By Paul A. Rubin and Hanh V. Huynh | October 19, 2022
With the deletion of just a few words from RPAPL §749(3), the 2019 amendment opens the door for tenant-debtors to assume leases even after a pre-bankruptcy warrant of eviction has been issued, without the need for the tenant to first vacate the warrant of eviction.
The American Lawyer | Analysis
By Phillip Bantz | Dan Roe | October 17, 2022
Corporate lawyers who seek relative stability amid layoffs and hiring freezes are finding it at law firms that can afford to add talent in a down market.
By Ellen Bardash | October 5, 2022
Personal care wholesaler High Ridge Brands is seeking to disqualify Debevoise & Plimpton as opposing counsel in a bankruptcy case, alleging at least nine Debevoise attorneys worked with High Ridge on the same 2017 transaction that ultimately resulted in the suit.
By Phillip Bantz | October 5, 2022
Seven attorneys general and a bankruptcy trustee say Endo pre-paid bonuses to "escape accountability and enrich its executives" before filing for Chapter 11. The company faces thousands of suits related to the opioid crisis.
New York Law Journal | Analysis
By Barbara M. Goodstein | October 5, 2022
What exactly is "search logic"? And, even more importantly, what does it mean if a particular jurisdiction does not have any?
By Timothy W. Burns, Jesse J. Bair and Brian P. Cawley | September 30, 2022
Stipulated judgments coupled with assignments of insurance rights can shorten the bankruptcy process and offer policyholders and underlying claimants relief from the burdensome and time-consuming process of litigating underlying liability.
By James H. Millar | September 16, 2022
Bankruptcy courts continue to disagree about whether a provision in a subordination agreement that purports to allow the senior creditor to vote the subordinated creditor's claim is enforceable.
By Sherry Millman and Genna Grossman | September 16, 2022
While there is no clear resolution to the risks imposed to commercial landlords as a result of §502(b)(6), there are avenues to pursue to ensure that the claim cap does not become a claim trap.
By John Bae and Alexander Andrews | September 16, 2022
This article summarizes the key challenges associated with solving the asbestos litigation problem through the Chapter 11 restructuring process, and explains why an out-of-court restructuring transaction may be a preferred alternative.
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