News and information on bankruptcy and bankruptcy law
By newyorklawjournal | New York Law Journal | June 15, 2017
Bankruptcy Trustee May Commence Medical Malpractice Suit in Representative Capacity
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By therecorder | The Recorder | June 14, 2017
9th Cir.; 16-55359 The court of appeals reversed a bankruptcy court judgment and remanded. The court held that the 12-month statute of limitations on…
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By Brian Baxter | June 14, 2017
A pair of recent lateral hires by Freshfields Bruckhaus Deringer from Arnold & Porter Kaye Scholer have helped the Magic Circle firm swoop in for a lead role on the bankruptcy of Alitalia SpA. The ailing Italian airline sought Chapter 15 protection Monday in the Southern District of New York.
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By David Bass and Mark Tsukerman | June 14, 2017
David Bass and Mark Tsukerman write: Two long-standing controversial areas of bankruptcy law have recently intersected in a bankruptcy case out of the District of Delaware: a bankruptcy court's adjudicative authority consistent with Article III of the Constitution, and the propriety of what are referred to in bankruptcy parlance as "third-party releases."
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By Brian Baxter | June 12, 2017
Kirkland & Ellis added another key bankruptcy case to its restructuring portfolio this week as San Francisco-based children's clothing retailer The Gymboree Corp. filed for Chapter 11 protection Sunday in Richmond, Virginia. Gymboree, the latest retailer to go bust this year, has also retained Munger, Tolles & Olson and Kutak Rock.
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By Jay M. Goffman and Christine A. Okike | June 12, 2017
Jay M. Goffman and Christine A. Okike of Skadden, Arps, Slate, Meagher & Flom write: A "golden share" gives a lender a say in any subsequent decision by a borrower to seek bankruptcy protection. Lenders have long considered the "golden share" to be an effective mechanism for safeguarding their investments. Recent rulings, however, have cast doubt on the effectiveness of the "golden share" structure.
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By Roy Strom | June 12, 2017
Chicago-based litigation financier Longford Capital Management LP has hired director Marc Carmel to bolster its restructuring operations. Carmel comes from Paul Hastings, where he was of counsel after joining that firm from Kirkland & Ellis' partnership in 2011.
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By newyorklawjournal | New York Law Journal | June 12, 2017
In this Special Report: "Using Article 3-A to Protect Payment Rights in a Construction Bankruptcy," "Limitations on Adjudicating Disputes Involving Medicare Provider Agreements," "Fee Defense Litigation: Clarifying the Reach of 'Asarco'," "Blockchain: The Key to True Cybersecurity?," "Deal Breakers: The Importance of Privacy and Security Due Diligence in Transactions," "New DFS Cybersecurity Regulations Are Here: Will Your Insurance Protect You?" and "Is Your Discovery Process Setting You Up for a Data Breach?"
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By Christopher K. Kiplok and Dustin P. Smith | June 12, 2017
Christopher K. Kiplok and Dustin P. Smith of Hughes Hubbard & Reed write: A recent decision by the bankruptcy court for the Southern District of New York in 'Spizz v. Goldfarb Seligman &. Co. (In re Ampal-American)', has moved the pendulum away from extraterritoriality back toward a nearer reach of avoidance powers.
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By Seth H. Lieberman, Patrick Sibley and Matthew W. Silverman | June 12, 2017
Seth H. Lieberman, Patrick Sibley and Matthew W. Silverman of Pryor Cashman write: While the bankruptcy bar's reaction to 'Asarco' was short of enthusiastic, most have since embraced the subsequent jurisprudence narrowly construing 'Asarco' and limiting its holding to the compensation of bankruptcy estate professionals.
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