Is bankruptcy the new “black” in the retail industry? With the rise in retail bankruptcies, some commentators believe repeat chapter 11 bankruptcy filings are the “hottest 2017 retail trend.”[1] “Chapter 22” is the designation given to these repeat filings.
In July 2016, the Seventh Circuit issued its decision in FTI Consulting v. Merit Mgmt. Grp. LP (FTI). There, the appellant asked the court to review the application of 11 U.S.C. § 546(e) (the safe harbor), which protects settlement payments made “by or to (or on the behalf of)” a broad range of financial institutions, intermediaries and brokers (collectively, financial actors) from many types of avoidance actions.
A recent decision out of the Western District of Pennsylvania, In re Veltre,[1] added to the split among courts about whether a non-collusive foreclosure sale can be avoided as a preferential transfer under § 547.
Recently, the United States Bankruptcy Court for the Eastern District of New York joined a growing list of courts that have disagreed with the First and Third Circuits and interpreted §1322(b)(2)[1] to prohibit a debtor from modifying a second lien secured by the debtor’s personal residence that is also an income-producing rental prope
The Bankruptcy Code allows a chapter 13 debtor to propose a plan that bifurcates undersecured claims into secured and unsecured claims except where the claim is one secured “only by a security interest in real property that is the debtor’s principal residence”.[1] If the sole collateral securing the claim is the debtor’s princ
Weeks before Hanjin Shipping sought protection from its creditors in Korea, I got an unexpected call: “Tally, I think one of the world’s largest shipping companies is going to file for bankruptcy in Korea and seek chapter 15 protection in New York, are you up for being my local counsel?” This was in early August 2016, and my life has not been the same since.
The Mediation Committee looks forward to another productive year. Our ABI-published mediation book, Bankruptcy Mediation, is an excellent resource for mediators and representatives of parties in mediation.
One of my very favorite things about bankruptcy practice is that it seems that for every decision from any particular court, you can usually find another decision from another court holding to the contrary. Divergent bankruptcy decisions often result from nuanced facts particular to the specific case.
One of a plan proponent’s primary tasks in the confirmation process is seeking the acceptance of creditors whose claims would be impaired under the proposed plan.
In the recent spate of energy-related bankruptcy cases, restructuring efforts have focused on the underlying business economics — debt-for-equity swaps, rejection of gathering agreements, lease and contract rejections to improve operational efficiencies, and similar efforts. To date, however, many of the cases largely have ignored environmental issues and claims.
