News and information on bankruptcy and bankruptcy law
By Meghan Tribe | September 19, 2017
From bikes to trains to video games, a quartet of large law firms led by Kirkland & Ellis is advising on the Chapter 11 case of toy retail giant Toys “R” Us Inc., which became the latest in a string of struggling brick-and-mortar retailers to file for bankruptcy this year.
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By therecorder | The Recorder | September 18, 2017
9th Cir.; 14-17045 The court of appeals affirmed a district court judgment. The court held that a state court’s determination of a law firm’s…
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By therecorder | The Recorder | September 18, 2017
9th Cir.; 15-56430 The court of appeals reversed a district court order and remanded. The court held that a stipulated agreement for an attorney’s…
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By Joshua A. Sussberg, Christopher T. Greco and Patrick Venter | September 15, 2017
Joshua A. Sussberg, Christopher T. Greco and Patrick Venter write: The most common explanation for retail's recent market challenges has been a shift in consumer preferences to online sales. But online shopping only accounts for approximately 10 percent of the retail market share. So what gives?
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By Francis J. Lawall and John Henry Schanne II | September 14, 2017
A fundamental benefit of Chapter 11 is a debtor's ability to assume and assign executory contracts and unexpired leases over the objection of a nondebtor counterparty, even when the contract contains otherwise valid anti-assignment provisions. Moreover, as demonstrated in a recent decision by the U.S. District Court for the District of Delaware, this statutory tool can be used despite its negative impact upon the underlying economics of the original contract, as in Antone v. Haggen Holdings (In re Haggen Holdings), 2017 U.S. Dist. LEXIS 139272 (D. Del. Aug. 30).
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By Scott Flaherty | September 13, 2017
International disputes law firm Kobre & Kim has continued its string of recent hires with the addition of Daniel Saval, a cross-border insolvency partner who joins the firm's New York office from Brown Rudnick.
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By Andrew C. Kassner and Joseph N. Argentina Jr. | September 13, 2017
Bankruptcy cases are often filed after a distressed company has determined the only way for the business to survive as a going concern is to pursue a sale. The sale process is conducted prior to the filing, and the case is filed, together with a request that the court approve the sale of the company pursuant to the terms of the negotiated sale agreement unless a higher offer is received. Often there is no alternative, and the question is whether the sale to the bidder will be approved and closed. If it does not close and the company is forced to liquidate, other federal laws may come into play.
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By therecorder | The Recorder | September 12, 2017
9th Cir.; 15-35572 The court of appeals affirmed a judgment. The court held that the bankruptcy court properly authorized the sale of the debtor’s…
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By Roy Strom | September 7, 2017
It's been nearly a decade since Irving Picard was appointed trustee of the funds recovered for victims of Bernard Madoff's massive Ponzi scheme. The matter is still generating payouts for victims and Baker & Hostetler, where Picard is a partner in New York.
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By John Council | September 6, 2017
In an important personal bankruptcy decision, the U.S. Court of Appeals for the Fifth Circuit has ruled that once a Chapter 7 debtor claims an exemption for their individual retirement account, a trustee is not allowed to claim that money — even if the debtor cashes out their IRA during the bankruptcy.
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