News and information on bankruptcy and bankruptcy law
By David A. Samole, The Bankruptcy Strategist | June 22, 2017
For the remainder of 2017, due in part to the current uncertainty in the healthcare industry and its legislative oversight, more financially distressed providers are considering Chapter 11 bankruptcy to effectuate closures, consolidation, restructurings and related transactions.
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By Corinne Ball | June 22, 2017
In her Distress Mergers and Acquisitions column, Corinne Ball discusses renewed attempts by GM to defend against lawsuits stemming from alleged wrongdoings of its predecessor. GM argues that the tort claims brought against it are barred on a new theory based on a recent Second Circuit decision in 'In re Tronox'.
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By Carlos J. Cuevas | June 22, 2017
Carlos J. Cuevas discusses an important issue that arises in intentional fraudulent conveyance litigation—the application of the crime-fraud exception to the attorney-client privilege.
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By McKenna Moore | June 21, 2017
Joshua Sussberg, a business finance and restructuring partner at Kirkland & Ellis in New York, is no stranger to distress. But when he was diagnosed last year with a rare form of cancer, Sussberg had a new fight on his hands, and not one easily dispatched in bankruptcy court.
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By Katheryn Hayes Tucker | June 20, 2017
A case spawned by the nearly $4 billion Tom Petters Ponzi scheme is gearing up for a bankruptcy court trial in West Palm Beach.
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Delaware Business Court Insider
By Tom McParland | June 19, 2017
In a decision that avoided a "murky" issue of bankruptcy law, the U.S. District Court for the District of Delaware ruled that a former intern at a Philadelphia news station cannot pursue a $75,000 claim for wrongful termination in Tribune Media Co.'s Chapter 11 bankruptcy proceedings.
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By Brian Baxter | June 16, 2017
Soupman Inc., a company that licenses the name made famous by the sitcom "Seinfeld," filed for bankruptcy on June 13 in Delaware, just weeks after its CFO was arrested for tax evasion. Polsinelli is seeking to save the debtor as it pursues a sale in Chapter 11. But some other large law firms face big writeoffs on their legal bills.
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By James Booth | June 15, 2017
“It's tangible, it's real, it's sensitive, it's serious and it doesn't look like it's going to go away any time soon,” says one law firm partner of the diplomatic crisis currently roiling the Middle East.
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By therecorder | The Recorder | June 15, 2017
9th Cir.; 15-60046 The court of appeals affirmed a Bankruptcy Appellate Panel judgment. The court held that the debtors’ challenge to foreclosure…
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By Francis J. Lawall and Michael J. Custer | June 15, 2017
When an oil and gas driller enters bankruptcy, a host of unique issues often arise, inclu ding how to close abandoned wells in a responsible manner. The United States Bankruptcy Court for the District of Delaware recently confronted this problem in the case of an energy exploration and production company liquidating through Chapter 11, as in City of Beverly Hills v. Venoco (In re Venoco) 2017 Bankr. LEXIS 1457 (Bankr. D. Del. May 31, 2017).
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