“[M]ediation provides a vital alternative to litigation;” its benefits “include its cost-effectiveness, speed, and adaptability.” [1] But despite these benefits, many litigants only turn to mediation to resolve their disputes after filing a lawsuit rather than before.
Chapter 7 panel trustees play an integral role in the bankruptcy system and perform a number of duties to effectively liquidate an estate for a debtor’s discharge. One of the trustee’s most important duties is to “collect and reduce to money the property of the estate ...
The Small Business Reorganization Act of 2019 (SBRA), Pub. L. No. 116-54 § 3(a), is probably the largest wholesale change to the Bankruptcy Code since BAPCA in 2005. Enacted in February 2020, the SBRA essentially created subchapter V of chapter 11 and made it easier for small business owners to keep their equity without having to liquidate and sell the remainder of their assets.
The Bankruptcy Code includes nine defenses to a trustee’s ability to avoid a pre-petition transfer as a preference. One of those defenses — codified at 11 U.S.C.
A plan sponsor’s financial advisor sues the plan sponsor and reorganized debtor for payment of a success fee arising from a purported financing transaction that allegedly closed post-effective date. In what forum should the suit be resolved?
In August 2001, after two state trial court clerkships, a short stay at a small, matrimonial law firm, and then a position as a staff attorney with a committee of our state supreme court, I declined an offer to work for Legal Services (the goal that had been the sole purpose of my entering law school in 1989) and accepted a one-year position as a shared (“swing) law clerk with the U.S.
Thomas (“Tom”) Girardi, a former plaintiff’s attorney in Los Angeles, California, and the founder of the law firm Girardi & Keese (d/b/a Girardi Keese), was once known as the inspiration behind the film “Erin Brockovich” and for his high-profile representation of the families of victims of the Lion Air crash in 2018.
Popular cryptocurrency exchange Coinbase surprised many in its first 2022 quarterly report when it informed customers that “custodially held crypto assets may be considered to be the property of a bankruptcy estate, in the event of a bankruptcy,...
As subchapter V matters continue to become a meaningful part of an insolvency practice, lawyers and financial advisors should be aware of the nuances that can arise in such matters when they intersect with the more complicated areas of bankruptcy law.
Lateral movement among law firm partners and associates has boomed. In 2020, the number of associates moving firms was up 149% and the number of partners moving was up almost 43%. [1] In 2021, the number of lawyers switching firms was up 111% over 2020.
The Unsecured Trade Creditors Committee hosted their most recent bi-monthly committee call on Thursday, October 23rd. Eric J. Haber of Cooley LLP in New York, led a discussion regarding developing strategies in preference cases. Brent Weisenberg of Ballard Spahr in New York moderated the discussion. Please review the attached FAQ and materials that Eric provided attendees.
The October 2nd conference call for ABI's Asset Sales Committee provided a brief overview of the Fisker Automotive opinions, as well as their progeny, including Free-Lance Star. The discussion also explored the practical implications of those decisions for practitioners representing different constituents in a restructuring. The call was led by Oscar N. Pinkas of Dentons US LLP in New York, and Justin F. Paget of Hunton & Williams LLP in Richmond, Virginia.
The Business Reorganization Committee held a free committee wide call on Tuesday, September 23rd, at 4 pm ET. The topic was titled "Looking at International Insolvency/Restructurings Through the Bankruptcy Code and Beyond," and featured key speakers, including: Patrick Mohan (Moderator) of Reorg Research (Columbia, S.C.), Rachel Ehrlich Albanese of Akin Gump Strauss Hauer & Feld LLP (New York).
Third Party Releases are cropping up in Chapter 11 plans with increasing frequency: what are the standards for their inclusion in a plan? Who is getting released and why? What is the consideration for the Third Party Release? Are creditors who vote for the plan deemed to give a Third Party Release? Scott Wolfson of Wolfson Bolton P LLC in Troy, Michigan, led this discussion on third party releases and focused on the recent Fourth Circuit opinion in National Heritage Foundation v.
Section 363(k) of the Bankruptcy Code permits a secured creditor to credit bid at a sale of its collateral unless the court orders otherwise for cause. If the secured creditor is the winning bidder, it may offset its claim with the purchase price of the collateral. The U.S. Supreme Court’s Radlax opinion (Radlax Gateway Hotel, LLC v. Amalgamated Bank, 132 S. Ct. 2065 (2012)) affirmed secured creditors’ rights under section 363(k), but two 2014 opinions addressing credit bidding issues found cause to limit section 363(k) credit bidding.
The purpose of this call was to seek thoughts, suggestions, and assistance in setting and achieving new goals and objectives for the Committee. For example, they discussed ideas and topics for future newsletters, webinars, and educational sessions at ABI’s Winter Leadership Conference and Annual Spring Meeting. Additionally, the Committee discussed ideas for networking events and special projects for the Committee. Participating in future calls is a great way to get more involved!
