July 06, 2023 | The Legal Intelligencer
Bankruptcy Transferring Control to Parent Was Filed in Good FaithIn recent years, as extensive pre-bankruptcy planning has evolved, bankruptcy filings frequently involve affiliates of larger companies, engineered with a structuring of liabilities in mind. This is especially relevant in the area of mass tort litigation. The question of whether these targeted filings are for a legitimate bankruptcy purpose or should be dismissed has been the subject of significant high-profile litigation.
By Andrew C. Kassner and Joseph N. Argentina Jr.
10 minute read
April 13, 2023 | The Legal Intelligencer
Bankruptcy Court Rules Limited Partnership Agreement Is Not an Executory ContractCertain types of agreements, such as real estate leases, clearly are executory contracts subject to assumption or rejection in bankruptcy cases. But what about the partnership agreement itself, or an option to purchase, or a right of first refusal contained in a partnership agreement?
By Andrew C. Kassner and Joseph N. Argentina Jr.
9 minute read
February 27, 2023 | The Legal Intelligencer
Prejudgment Attachment of Defendants' Assets Permitted by Del. Bankruptcy CourtThis case demonstrates that strong beliefs are not enough, but counsel presenting extensive evidence of repeated extraordinary behavior can be enough to support the issuance of prejudgment relief by a court.
By Andrew C. Kassner and Joseph N. Argentina Jr.
10 minute read
December 01, 2022 | The Legal Intelligencer
Subtenant's Security Deposit Treated as Unsecured Loan in BankruptcyWhat rights does a tenant have with regard to the security deposit delivered by the tenant to the landlord to secure the tenant's performance under the lease when the landlord files for bankruptcy and rejects the lease?
By Andrew C. Kassner and Joseph N. Argentina Jr.
8 minute read
October 13, 2022 | The Legal Intelligencer
Even a Small or Cured Agreement Default Triggers Assumption ObligationsIn an opinion issued Aug. 3 in In re Hawkeye Entertainment, (Case No. 21-56264), the U.S. Court of Appeals for the Ninth Circuit held all the requirements for assumption were triggered even though the defaults had been cured or were not material but the debtor could assume the lease because the defaults in bankruptcy were not material enough to require any further undertakings by the debtor going forward.
By Andrew C. Kassner and Joseph N. Argentina Jr.
8 minute read
September 05, 2022 | The Legal Intelligencer
Fifth Circuit Rules Surety Bonds Are Not Executory ContractsIn an opinion issued by the U.S. Court of Appeals for the Fifth Circuit dated Aug. 11, in a case styled In re Falcon V, case no. 21-30668, the court held a surety bond is not an executory contract, and the debtor's obligations under the bonds could not be enforced.
By Andrew C. Kassner and Joseph N. Argentina Jr.
7 minute read
February 28, 2022 | The Legal Intelligencer
Preference Payments Made Per Historical Practice Still Not OrdinaryCertain sectors and businesses undoubtedly will experience distress, and doing business with distressed customers always brings the risk of nonpayment.
By Andrew C. Kassner and Joseph N. Argentina Jr.
9 minute read
January 06, 2022 | The Legal Intelligencer
Post-Petition Sales of Drug at Alleged Supracompetitive Price May Constitute Administrative ClaimsAs we ring in the New Year, we hope for a "fresh start" out of the pandemic, but recognize that challenges remain, including the latest variant. In the restructuring bar, we see new approaches being attempted to address old problems.
By Andrew C. Kassner and Joseph N. Argentina Jr.
9 minute read
October 14, 2021 | The Legal Intelligencer
Payment Under Critical Vendor Order Does Not Bar Preference LiabilityU.S. Bankruptcy Court Judge John T. Dorsey for the District of Delaware ruled that a supplier's receipt of payment under a critical vendor order does not bar the debtor or trustee from pursuing a preference claim to recover amounts paid prepetition to the vendor.
By Andrew C. Kassner and Joseph N. Argentina Jr.
8 minute read
September 02, 2021 | The Legal Intelligencer
Liquidating Debtors May Qualify for Subchapter 5The SBRA created a new "Subchapter 5" of the U.S. Bankruptcy Code that enables small businesses to use many of the provisions of Chapter 11, but without many of the costs and burdens of a typical Chapter 11 proceeding.
By Andrew C. Kassner and Joseph N. Argentina Jr.
8 minute read