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In Solvency

Do Liquidating Trusts Have to Pay Quarterly US Trustee Fees?

By Michael R. Herz
February 2, 2023

In a 2021 opinion in In re Paragon Offshore PLC, 629 B.R. 227 (Bankr. D. Del. 2021) (“Paragon Offshore”), Judge Sontchi of the United States Bankruptcy Court for the District of Delaware held that a litigation trust created post-plan confirmation…

Real Bankruptcy Intel

Opinion Alert: Third Circuit Dismisses LTL Mass Tort Bankruptcy, Holding “Good Faith” Requires “Immediate” Financial Distress

By Sean T. Scott, Aaron Gavant & Joshua R. Gross
January 30, 2023

In a decision likely to have significant impact on certain types of bankruptcy filings going forward, this morning, the Third Circuit Court of Appeals ordered the dismissal of the Chapter 11 bankruptcy case filed by Johnson & Johnson affiliate LTL…

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In Solvency

New Complex Case Procedures in the Southern District of Texas

By Trey A. Monsour
January 25, 2023

Effective January 1, 2023, the procedures for filing complex cases in the Southern District of Texas changed.  The courts have made the procedures specific and detailed.  Below are some of the highlights of the new rules.

 “Complex Case” is now…

Zone of Insolvency

Norton Rose Fulbright’s global restructuring group releases the Q1 2023 issue of International Restructuring Newswire

By NRF Digital Team
January 25, 2023
Snow and River Seine in Paris, France

Our global restructuring team has released its quarterly International Restructuring Newswire.

Our new issue features articles from Canada, Germany, the US, France and China/Hong Kong to help you stay current on recent developments in restructurings in various jurisdictions around the…

In Solvency

Who Can Be A Future Claims Representative In The Third Circuit?

By Michael Temin
January 23, 2023

By: Michael L. Temin and Martha B. Chovanes

Introduction

Imerys Talc American, Inc. (“Imerys”) filed bankruptcy in response to crushing liability imposed by mounting asbestos and talc personal injury claims to take advantage of Bankruptcy Code § 524(g) which, among…

Louisiana Law Blog

Businesses with Louisiana Worker Classification Concerns Should Consider Relief Provisions as New 1099-NEC Filing Requirements Go into Effect

By Jaye Calhoun, William Kolarik & Divya Jeswant
January 20, 2023
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The Louisiana Department of Revenue (“LDR”) recently promulgated rules to implement the Fresh Start Proper Worker Classification Initiative, and also published guidance to explain when and how businesses should file non-employee information returns (Forms 1099-NEC) directly with the LDR. These…

Louisiana Law Blog

Top 10 LLC Operating Agreement Considerations

By Matthew Meiners
January 20, 2023
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An Operating Agreement is an agreement among the members of a limited liability company that defines the LLC’s management structure and governs the operation of the LLC, including the members’ contractual rights, obligations, and restrictions relating to their membership interests…

In Solvency

Cryptocurrency Deposits Do Not Belong to Account Holders:  New York Bankruptcy Holding Severs Customers’ Right and Title to Crypto Assets Deposited in Celsius Network Earn Program Accounts

By Keith C. Owens & Zach Williams
January 18, 2023

In a recent decision by Chief Judge Martin Glenn of the United States Bankruptcy Court for the Southern District of New York presiding over cryptocurrency Chapter 11 megacase, In re Celsius Network, LLC, et al., Case No. 22-10964 (MG), Judge…

Plan Proponent

Happy New Year! – Looking Back on 25 Years of Professional Websites – Part 3

By David L. Bury Jr.
January 16, 2023
Collage8

It’s finally time to wrap-up this New Year’s series. As I mentioned in Part 1, I thought it would be fun use the Wayback Machine to take a look back at how professional websites—law firm sites, in particular—have evolved…

Plan Proponent

Happy New Year! – Looking Back on 25 Years of Professional Websites – Part 3

By David L. Bury Jr.
January 16, 2023
Collage8

It’s finally time to wrap-up this New Year’s series. As I mentioned in Part 1, I thought it would be fun use the Wayback Machine to take a look back at how professional websites—law firm sites, in particular—have evolved…

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