The general rule is that when a corporation or other business entity buys the assets of another entity, it does not assume the liabilities of the seller. But in New Nello Operating Co., LLC v. CompressAir, 19A-CC-603 (Ind. Ct. App. March
Herrick Restructuring Review
The Herrick Restructuring Review, published by Herrick, Feinstein LLP, focuses on developments and analysis in bankruptcy and restructuring law. It covers topics such as Chapter 11 filings, asset sales under Section 363, creditor rights, litigation involving bankruptcy claims, and the treatment of financial instruments like make-whole payments in insolvency contexts. The blog also addresses mass tort bankruptcy cases, corporate restructuring strategies, and court decisions impacting restructuring practice. It provides updates on significant bankruptcy cases and procedural issues affecting debtors, creditors, and other stakeholders in financial distress situations.
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The Importance of Clear Tax Allocation Agreements
In Rodriguez v. Federal Deposit Insurance Corp., the United States Supreme Court ruled on February 25, 2020, that a $4.1 million tax refund belonged to the bankruptcy estate of a failed Colorado bank’s parent company, United Western Bancorp, Inc. (“UWBI”), rather than…