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In The (Red)®
Jumping Up: Bankruptcy Code Dollar Amounts Will Increase On April 1, 2025
An official notice from the Judicial Conference of the United States was just published announcing that certain dollar amounts in the Bankruptcy Code will be adjusted upward by 13.2004%, perhaps the largest…
Restructuring Globalview
Judge Goldblatt Reconsiders What Constitutes “Consent” Post Purdue Pharma (US)
The Supreme Court recently issued its long-awaited decision in Harrington v. Purdue Pharma L.P., 144 S.Ct. 2071 (U.S. 2024) (“Purdue Pharma”), addressing whether nonconsensual third-party releases are permissible under the…
Climate Solutions Legal Digest
Protecting Energy Project Buyout Rights From Developer Bankruptcy
Energy development contracts commonly permit landlords (on whose land the energy project is constructed) a buyout right with respect to the project, often for a nominal payment… but that right…
Delaware Bankruptcy Blog
Third Circuit Joins Fifth and Ninth on Solvent-Debtor Exception: In re Hertz Corp.
By Carl D. Neff
On September 10, 2024, the United States Court of Appeals for the Third Circuit issued a significant decision in In re The Hertz Corporation, No. 23-1169, addressing make-whole premiums and…
Credit Chronometer
Valuing Crypto in the Bankruptcy Multiverse
By Joseph Cioffi, Massimo Giugliano, Adam M. Levy
The recent bankruptcy filings by several major crypto platforms have given rise to unexpected realities for customers and investors. The sudden change in rights, legal exposure in bankruptcy litigation and…
Credit Chronometer
Debtors Without a Cause: Whether Non-Distressed Entities Can Access Bankruptcy
By Joseph Cioffi, Massimo Giugliano, Adam M. Levy
The benefits afforded debtors in bankruptcy are so compelling that businesses have initiated bankruptcy proceedings without experiencing insolvency or imminent financial distress. But do such businesses have the right to…
Credit Chronometer
Gimme Back My Crypto: Clawbacks are Imminent in Crypto Bankruptcies
By Joseph Cioffi, Massimo Giugliano
July 5, 2024 and July 13, 2024 will mark the two-year anniversary of Voyager’s and Celsius’s bankruptcy filings, respectively. Under the Bankruptcy Code, actions to clawback pre-bankruptcy transfers, such as 90-day…
Restructuring Globalview
Assume and Wait – Delaware Bankruptcy Court Approves Debtors’ Novel Lease Assumption Strategy (US)
When a liquidating debtor seeks to assume a lease, one of the lessor’s immediate questions is who will be the assignee. But what happens when a liquidating debtor seeks to…
Delaware Bankruptcy Blog
Plan Confirmation Is Final: Delaware Bankruptcy Court Rejects Virgin Orbit Equity Holders’ Revocation Motion
By Carl D. Neff
In a decision emphasizing the finality of confirmed Chapter 11 plans, the United States Bankruptcy Court for the District of Delaware denied a motion by Virgin Orbit equity holders to…
Banking & Financial Services Industry Legal Blog
Bad Faith Dismissals in Bankruptcy, Part 1: Chapter 7 Debtors with Primarily Non-Consumer or Business Debts
When a debtor files for bankruptcy, a creditor may be able to seek dismissal of the bankruptcy if the petition was filed in bad faith. This article will provide an…