The extensive 2017 changes to the Bankruptcy Rules included a model chapter 13 plan. These changes were designed to bring more uniformity to chapter 13 practice. Uniformity is helpful for both consumers and creditors alike; where courts agree on a majority practice across the country, national lenders become more efficient in their practices.
In 2019, the U.S. Supreme Court adopted an amendment to Rule 6007 of the Federal Rules of Bankruptcy Procedure that makes clear that a creditor that files for abandonment of property of the estate under 11 U.S.C. § 554(b) must serve its motion on all creditors pursuant to Fed. R. Bankr. P. 7004.
Abe’s Boat Rentals Inc. filed for chapter 11 on April 27, 2018, in the U.S. Bankruptcy Court for the Eastern District of Louisiana. On Feb. 22, 2019, the debtor filed an Application for Order Authorizing Employment of Whelton Marine LLC as Marine Broker (the “Application to Employ”) in order to sell a 2008 Tiara 4300 Sovran yacht (the “vessel” or “M/V Heaven”).
The ABI Asset Sales Committee announced the winner of the second annual Asset Sale of the Year Award at the beginning of a July 22, 2020, Asset Sales Committee webinar titled, Evolving Landscape of Distressed M&A Activity.
When a retail debtor seeks to sell its assets in a chapter 11 proceeding pursuant to § 363 of the Bankruptcy Code, one of the key issues that often arises is whether the debtor will be permitted, as part of such sale, to assume and assign its store leases to the proposed buyer pursuant to § 365 of the Bankruptcy Code.
The Crescent Dunes Solar Energy Project in Nye County, Nev., is one of the largest utility-scale solar power plants in the U.S. The project utilizes more than 10,000 heliostats, or large mirror assemblies, to collect and focus the sun’s thermal energy, which the project then uses to generate electricity for sale.
It is a commonly accepted rule across the country that if a debtor has direct connections with marijuana – for example, cultivating the plant or leasing space to a dispensary or grow facility – that the debtor cannot seek relief under the U.S.
On Sept. 15, 2020, Flywheel Sports Inc. and its affiliates filed chapter 7 petitions with the U.S. Bankruptcy Court for the Southern District of New York. Flywheel’s filing continues the trend of gym and personal fitness companies, including venerable national chains Gold’s Gym and 24 Hour Fitness, seeking bankruptcy protection during the COVID-19 pandemic.
Matter of Provider Meds L.L.C.[1] involved contract rejection and related issues the Fifth Circuit stated it and most circuits had not previously considered. Tech Pharmacy Services (TPS) held a patent on methods involving remote pharmaceutical dispensing (the IP).
