What happens when property that a trustee wants to sell in a section 363 sale is subject to unexpired leases that the trustee is empowered to reject under section 365(h)? The Ninth Circuit faced this conundrum in a recent case
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Update: Enforcing an Artist’s Rights in Street Art
Read time: 2 minutes
A six-member jury has returned an advisory verdict finding that a property developer violated more than twenty graffiti artists’ “right of integrity” under the Visual Artists Rights Act (“VARA”) when it whitewashed a building bearing nearly
Does Stern v. Marshall Prohibit Non-Consensual Third Party Releases of Non-Bankruptcy Claims in Plans of Reorganization?
An increasingly common aspect of Chapter 11 plans is non-consensual third party releases, which are often a vital tool required to obtain global peace among competing constituencies whose support is often needed for a debtor to obtain confirmation of a
Unresolved Questions Remain in Recharacterizing Insider Debt
On August 10, 2017, the Supreme Court dismissed the writ of certiorari in PEM Entities LLC v. Levin as improvidently granted. See No. 16-492, 2017 WL 3429146, at *1 (U.S. Aug. 10, 2017). This decision leaves the circuit courts split
Just Passing Through: Merit Management Group, LP v. FTI Consulting, Inc.
Next week, the Supreme Court will hear oral argument in Merit Management Group v. FTI Consulting to decide the correct way to apply the safe harbor of section 546(e) of the Bankruptcy Code. The Court will review the Seventh Circuit’s
Ninth Circuit Cases Pose the Question: How Far Does the “First Sale Doctrine” Go?
Read time: 7 minutes
The Ninth Circuit has pending before it a significant challenge to the validity of the California Resale Royalty Act (“CRRA”), which will require the court to examine the scope of the “first sale doctrine” and determine
Hughes Hubbard & Reed Hosts Brown-Bag Lunch on Auction Houses
On July 11, 2017, Hughes Hubbard & Reed LLP hosted a brown-bag lunch on the business and law of auction houses. The Fine Arts Committee of the New York State Bar Association’s Entertainment, Arts & Sports Law Section sponsored the
Hughes Hubbard’s 2017 Bankruptcy Mid-Year Review
We are pleased to share with you the Hughes Hubbard Bankruptcy Mid-Year Review for 2017. The review recaps a number of notable developments from this year. We thank our clients for their continued confidence and look forward to providing you
Bankruptcy Court Exercises Jurisdiction Over Foreign Defendant Based on Consent to Jurisdiction Clauses in Loan Agreement and DIP Order.
The United States Bankruptcy Court for the Southern District of New York recently held that it had personal jurisdiction over a foreign defendant that was paid funds pursuant to the Court’s order approving the debtors’ post-petition financing (the “DIP order”),