State court receiverships have become a popular alternative to federal bankruptcy proceedings for the sale of distressed businesses.[1] In Wisconsin, Wis. Stats.
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It is no secret that restaurants and bars have high mortality rates. When these businesses fail, liquor licenses are frequently the only remaining valuable asset. Liquor licenses are crucial to restaurants and other hospitality venues’ ongoing operations and can be worth a lot of money.
Interim managers are take-charge types with strong inclinations toward quickly assessing situations and developing and rapidly implementing solutions. Almost by definition, they are thrown into troubled companies and challenged to “turn things around” in short order. Often, this can mean taking tough measures, such as reducing staff through planned layoffs.
In 2016, 763 higher education institutions closed, the highest number since 2012.[1] While primarily for-profit schools closed, independent not-for-profit (NFP) schools closed as well.
Ascribing reasons for the schools’ closures risks conclusion bias, but there are some macro trends to note:
In 2016, 763 higher education institutions closed, the highest number since 2012.[1] While primarily for-profit schools closed, independent not-for-profit (NFP) schools closed as well.
Ascribing reasons for the schools’ closures risks conclusion bias, but there are some macro trends to note:
Given the media saturation, it is virtually impossible for any American to be unaware of the allegations that Russia and President Putin interfered in the 2016 presidential elections. But only a much smaller subset of the population likely knows that Russia and then-Prime Minister Putin also played a key role in Eclipse Aviation Corp.’s bankruptcy case seven years earlier.
The Third Circuit Court of Appeals recently issued an important opinion addressing the question of when goods are “received” for purposes of § 503(b)(9) of the Bankruptcy Code in In re World Imports Ltd.[1] Reversing two lower courts, the appellate court held that in determining whether a seller is entitled to an administrativ
I am Beverly A. Berneman, and I am pleased to take on the role of the editor of the ABI Technology and Intellectual Property Committee’s e-newsletter. By way of background, I am a partner with Golan Christie Taglia LLP in Chicago. I hold a J.D. from Chicago Kent School of Law, and my practice started in bankruptcy law.
In the recent case of In re Oakes,[1] the chapter 7 trustee filed an adversary complaint seeking to avoid PNC Mortgage Company’s mortgage on real property owned by the debtors because of a defective acknowledgment of the debtors’ signatures.
When the U.S. Supreme Court decided BFP v. Resolution Trust Corp.,[1] holding that a mortgage foreclosure sale regularly conducted pursuant to state law could not be avoided as a fraudulent transfer under 11 U.S.C.
