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South Florida Trial Practice
Dear Bankruptcy Asset Purchaser, Got Good Faith?
By Heather Ries
Section 363 of Title 11 of the United States Code ("Bankruptcy Code") authorizes trustees (and Chapter 11 debtors-in-possession) to use, sell, or lease property of a debtor's bankruptcy estate outside…
Finance & Bankruptcy Law Blog
Second Circuit Holds that Contingent Equity-Based Compensation of Former Lehman Employees are Subordinate to Creditor Claims
By John Stigi, Christopher Bosch
In In re Lehman Bros. Holdings Inc. 855 F.3d 459 (2d Cir. 2017), the United States Court of Appeals for the Second Circuit affirmed a district court order subordinating the claims…
Corporate & Securities Law Blog
Second Circuit Holds that Contingent Equity-Based Compensation of Former Lehman Employees are Subordinate to Creditor Claims
By Christopher Bosch, John Stigi
In In re Lehman Bros. Holdings Inc. 855 F.3d 459 (2d Cir. 2017), the United States Court of Appeals for the Second Circuit affirmed a district court order subordinating the claims…
Delaware Bankruptcy Update
Preference Actions Filed in Draw Another Circle Bankruptcy
On June 15, 2017, Curtis R. Smith, as Liquidating Trustee of the Hastings Creditors' Liquidating Trust, filed approximately 69 complaints seeking the avoidance and recovery of allegedly preferential and/or fraudulent transfers…
Delaware Bankruptcy Update
PennySaver – Preference Actions Filed
On May 23, 2017, Don A. Beskrone, the chapter 7 trustee for the estate of PennySaver USA Publishing, LLC filed preference actions against 46 defendants. PennySaver was an iconic company that…
Constructlaw®
Construction Liens Filed by Suppliers in New Jersey After Contractor’s Filing of Bankruptcy Petition Are Barred by the Automatic Stay Provision of the Bankruptcy Code
In re: Linear Electric Co., Inc., No. 16-1477, 2017 U.S. App. Lexis 5527 (3d Cir., March 30, 2017) This case concerns whether suppliers, Cooper Electrical Supply Co. and Samson Electrical…
In Solvency
GulfMark Offshore, Inc. Files for Chapter 11 Bankruptcy
On May 17, 2017, GulfMark Offshore, Inc. ("GulfMark" or "Debtor") filed a voluntary petition for bankruptcy relief under chapter 11 of the Bankruptcy Code in the United States District Court…
Restructuring Globalview
How safe is safe?
Earlier this month, the United States Supreme Court agreed to review a Seventh Circuit decision regarding the scope of the so-called “safe harbor” from avoidable transfers provided in Section 546(e)…
Louisiana Law Blog
Offshore Service Companies Try Bankruptcy, Lobbying to Improve Their Finances
By Eric Lockridge, Kean Miller
Large and small offshore service companies are turning to the Bankruptcy Code for help with restructuring their balance sheet, and turning to Washington for help with generating more work. One…
Restructuring Globalview
Third Circuit Tells Construction Suppliers to “Play by the Rules” of Bankruptcy
In an opinion by Judge Roth issued on March 30, 2017, the Court of Appeals for the Third Circuit held that two suppliers who had sold electrical materials to a…