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Restructuring Globalview
District Court Opinion Puts the Brakes on Involuntary Bankruptcy Petitions
Filing an involuntary bankruptcy petition is fraught with risk. If the court dismisses the involuntary petition, the creditors who filed the petition (referred to as the petitioning creditors) may be…
Delaware Bankruptcy Update
Life Insurance Investment Company Files for Bankruptcy in Delaware
On December 29, 2017, Life Settlement Absolute Return I, LLC ("LSAR"), along with Senior LS Holdings, LLC ("Senior LS"; collectively with LSAR, the “Debtors”), filed petitions for relief under Chapter 11…
South Florida Trial Practice
Does Bankruptcy Put Equity In My Florida Homestead At Risk?
By Heather Ries
In my November post, I discussed the basics regarding protection of your Florida Homestead from forced sale by creditors and alluded to exceptions to the rule. Let's discuss some of…
Tax Law for the Closely Held Business
Revoking S Corp. Status: A Fraudulent Conveyance?
By Lou Vlahos
Worlds Collide? I like to tell my partners that there are Codes (upper case “C”), and there are codes (lower case “c”). The former include the Ten Commandments, the Code…
Bankruptcy Report
Peril on the Peaks: Ninth Circuit Reconciles Section 365 and 363 to Permit Stripping of Leases in Bankruptcy Sales
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)?…
Bankruptcy Report
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…
Health Law Update
Physicians in the Bulls-eye
Several recently reported cases highlight the growing risk physicians face if they succumb to competitive pressures, especially offers of remuneration from labs, pharmacies, home health agencies and other providers to…
Restructuring Globalview
Are You Breaking Up with Me? Termination Fees in Bankruptcy Called into Question.
In a move that surprised bankruptcy practitioners and other observers, a Delaware bankruptcy court recently rescinded an order approving a $275 million break-up fee relating to a failed merger. Judge…
Restructuring Globalview
First Circuit Holds Creditors Committees Always Have the Right to Intervene (Sort Of)
On September 22, 2017, the First Circuit Court of Appeals reversed the district court, and overruled its own prior guidance, to hold that a committee of unsecured creditors had the…
Finance & Bankruptcy Law Blog
Double Whammy: In a Sweeping New Opinion, the Ninth Circuit Creates a New Mechanism for Completely Wiping Out Unexpired Leases in Bankruptcy, and Also Undercuts a Critical Protection for Buyers in 363 Sales
In In re Spanish Peaks Holdings II, LLC, Case No. 15-35572 (9th Cir. Sept. 12, 2017), the Ninth Circuit Court of Appeals held that a bankruptcy trustee may use Section…