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
Bankruptcy Report
Bankruptcy Report, published by Hughes Hubbard & Reed LLP, focuses on legal developments and case analyses related to bankruptcy and restructuring. The blog covers significant bankruptcy cases, including large corporate liquidations and reorganizations, and discusses court rulings affecting creditors, debtors, and trustees. It addresses issues such as plan confirmation, claims against directors and officers, key employee retention programs, and jurisdictional matters in bankruptcy proceedings. The blog also highlights the firm's involvement in notable bankruptcy matters and provides insights into the practical implications of bankruptcy law for financial and corporate restructuring.
Latest from Bankruptcy Report - Page 2
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…
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”),…
Bankruptcy Court Limits Rule 2004 Requests
The Southern District of New York Bankruptcy Court recently limited certain bankruptcy discovery requests pursuant to Federal Rule of Bankruptcy Procedure 2004 by applying the concept of proportionality contained in the 2015 amendments to Federal Rule of Civil Procedure 26…
First Circuit Provides Clarity to Puerto Rico Creditors Seeking Relief
The First Circuit’s recent opinion on the Puerto Rico Oversight, Management, and Economic Stability Act (“PROMESA”, 48 U.S.C §§ 2101-2241) outlines initial guidelines for possible future actions against the Puerto Rican government as a result of the Commonwealth’s ongoing debt…
Hughes Hubbard Bankruptcy Review for 2016
We are pleased to share with you the Hughes Hubbard Bankruptcy Review for 2016. Restructurings are often the ultimate “bet-the-company” case, and we thank our clients for their continuing trust and confidence in our team.
Bankruptcy Court Decision Illustrates Limits of Section 510(b) Subordination of Claims
A recent decision in the Bankruptcy Court for the District of Delaware explored the limits of mandatory subordination under section 510(b) of the Bankruptcy Code. In In re FAH Liquidating Corp., No. 13-13087(KG), 2017 WL 95115 (Bankr. D. Del. Jan.…