By ALM Staff | September 11, 2023
This ruling was selected and summarized by the New York Law Journal's decision editors.
New York Law Journal | Expert Opinion
By Theresa A. Driscoll | September 11, 2023
In the 45 years since the enactment of the Bankruptcy Code, the Chapter 11 process has been successfully used by companies to address and resolve mass tort liabilities. However, what were once considered legitimate uses of Chapter 11 may now be rejected by bankruptcy courts as bad faith filings.
New York Law Journal | Analysis
By Seth Kleinman, Sean Daly and Darren Smolarski | August 30, 2023
Lenders holding a majority of loans in a syndicated debt instrument notched another win in the non-pro rata refinancing wars when the U.S. Bankruptcy Court for the Southern District of Texas issued an opinion approving confirmation of the Chapter 11 plan of Serta Simmons Bedding and its affiliated debtors.
New York Law Journal | Analysis
By Corinne Ball | August 23, 2023
In her Distressed Mergers and Acquisitions column, Corinne Ball discusses 'In re Serta Simmons Bedding,' where, "ruling on the validity of the PET, the court addressed the role of equity, as well as the covenant of good faith and fair dealing, emphasizing that lender versus lender warfare is a "winner-take-all battle."
By Jimmy Hoover | August 10, 2023
The federal government calls the plan—approved by the Second Circuit—"an abuse of the bankruptcy system."
By Patrick Smith | August 7, 2023
A five-partner restructuring team is the latest to leave Stroock for Morgan Lewis. Meanwhile, the New York firm said it has secured the votes needed to end its pension obligation, removing an obstacle for a merger.
By Dan Roe | August 3, 2023
Corporate filings are rebounding after two slow years, with Kirkland and its Texas-based dance partner leading the way.
By Jane Wester | July 21, 2023
The adversary proceeding in Delaware bankruptcy court accused the founder and others of "abus[ing] their control over the FTX Group to commit one of the largest financial frauds in history."
Delaware Business Court Insider | News
By Ellen Bardash | June 8, 2023
Liquidators said ssues with identifying FTX assets are governed by the laws of the Bahamas, England, and Antigua and Barbuda, and need to be addressed before the company is wound down.
By Ross Todd | June 7, 2023
Davis Polk's Marshall Huebner and Benjamin Kaminetzky helped convince the Second Circuit to overturn a district court ruling finding the bankruptcy code didn't authorize liability releases for the Sackler family, the founders of the OxyContin maker.
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