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831 published works
In Solvency
Bankruptcy Court Rejects Bankruptcy Claims against Maryland Department of Environment in Comprehensive Opinion
On August 4, 2016, the Delaware Bankruptcy Court considered cross-motions for summary judgment in a preference action case styled as Pirinate Consulting Group, LLC v. Maryland Department of the Environment (In re…
Bankruptcy & Restructuring Law
U.S. Supreme Court to Weigh in on Structured Dismissals and Settlements Circumventing the Bankruptcy Code’s Priority Scheme
On June 28, 2016, the U.S. Supreme Court agreed to hear a challenge to a Third Circuit-affirmed settlement and dismissal of the chapter 11 cases of Jevic Transportation, Inc. (“Jevic”)…
Corporate & Financial Weekly Digest
Lehman Brothers Court Holds Swap Safe Harbor Protects ‘Flip’ Transactions
The bankruptcy court overseeing the Lehman Brothers chapter 11 cases rejected efforts by Lehman Brothers Special Financing Inc. (LBSF) to recover roughly $1 billion in payments made to numerous noteholder…
Delaware Bankruptcy Update
SynCardia Systems Files Chapter 11 Bankruptcy – First Day Hearing Scheduled July 6, 2016
On July 1, 2016, SynCardia Systems, Inc. ("Debtor" or "SynCardia") filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code before the United States Bankruptcy Court for…
Finance & Bankruptcy Law Blog
Lenders Cannot Prevent Borrowers From Filing Bankruptcy By Owning Minority Equity With Veto Power Over Borrower’s Decision To File Bankruptcy
In a recent decision, the U.S. Bankruptcy Court for the District of Delaware refused to enforce a provision in the debtor’s LLC operating agreement requiring a unanimous vote of the…
Restructuring Globalview
Structural Limitations on Bankruptcy Filings—Blocking Tactics on the Block
A recent decision from the Bankruptcy Court for the District of Delaware further puts into doubt so-called bankruptcy blocking tactics. And the opinion from In re Intervention Energy Holdings, LLC,…
Hunton Employment & Labor Perspectives
Employee Pay and the Bankruptcy Stay – Potential Pitfalls for Employers
Businesses need to have written protocols in place to deal with bankruptcy filings by their employees and independent contractors, or they risk serious sanctions and, potentially, punitive damages for violations…
Finance & Bankruptcy Law Blog
Supreme Court Holds That “Actual Fraud” Under Section 523(a)(2)(A) of the Bankruptcy Code May Include Fraudulent Transfers That Occur Without False Representations
On May 16, 2016, the United States Supreme Court in Husky International Electronics v. Ritz held that the phrase “actual fraud” under section 523(a)(2)(A) of the Bankruptcy Code may include…
Restructuring Globalview
Making Sausage – – The Seventh Circuit Examines the “Ordinary Course” Preference Defense
It is relatively rare when a Circuit Court issues an opinion on the preference defenses under section 547(c) of the Bankruptcy Code. It is even more unusual when a decision…
Supreme Court Update
Williams v. Pennsylvania (15-5040), Dietz v. Bouldin (15-458), Simmons v. Himmelreich (15-109) and Ross v. Blake (15-339)
Though the Puerto Rican Day Parade marched down Fifth Avenue Sunday, the Commonwealth was getting much less love on One First Street. Yesterday morning, in Puerto Rico v. Franklin California…