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Restructuring Matters
A Line in the Sand: Caymans Proceeding Ineligible for Chapter 15
Chapter 15 of the Bankruptcy Code provides a mechanism for United States cooperation and coordination with insolvency proceedings abroad, often affording foreign debtors wide-ranging relief and expansive rights through the…
Consumer Finance Monitor
Justice Department announces new guidance for handling bankruptcy discharge of federal student loans
By John L. Culhane, Jr., Elanor A. Mulhern
In conjunction with efforts to forgive federal student debt for certain borrowers, President Biden’s Justice Department recently announced new guidance for its attorneys to use when deciding whether to recommend…
Bankruptcy & Restructuring Law
New Chapter 11 Filing – Fast Radius Inc.
By Cole Schotz
On November 7, 2022, cloud manufacturing and digital supply chain company Fast Radius, Inc. of Chicago, IL filed a petition for relief under Chapter 11 of the Bankruptcy Code in…
Credit Chronometer
Repurchase Agreement Redux: Mortgage Loan Originator Bankruptcies Are Back
By Joseph Cioffi, Massimo Giugliano, Adam M. Levy
Residential mortgage warehouse providers acting under repurchase or “repo” agreements as buyers should be assured that safe harbors under the Bankruptcy Code will permit them to enforce their rights under repurchase…
Dewey B Strategic
Lex Machina Launches Bankruptcy Chapter 11 Module.
By Jean O'Grady
Lex Machina and LexisNexis announced today that it has officially released a Chapter 11 Bankruptcy Module, which provides Legal Analytics for over 115,000 Chapter 11 proceedings. It's been a long…
Bench & Bar of Minnesota
A ‘bright-line’ rule: You will pay for violating bankruptcy stay
By Minnesota State Bar Association
By George H. Singer singerg@ballardspahr.comThe Court of Appeals for the Second Circuit recently established a “bright-line rule” in a case of first impression: If the debtor is named as a defendant…
Restructuring Matters
Successor Liability and Section 363: A Broad Interpretation of an “Interest in Property”
The purchase and sale of assets by a debtor is governed by Section 363 of the Bankruptcy Code. So-called “363 sales” are typically attractive from a buyer’s perspective (and may…
Bankruptcy Law Insights
Nobody’s Default? Ninth Circuit to Decide Whether Defaults Need to be ‘Material’ Before Landlords Get Adequate Assurance Under the Bankruptcy Code
By Robert L. LeHane, Philip Weintraub
Section 365 of the Bankruptcy Code allows debtors to “assume” unexpired leases, recommitting themselves and their counterparties to the existing lease terms, subject to approval by the Bankruptcy Court. If…
Winstead Business Divorce
Court Held That Those In Control Of A Limited Liability Company May Owe Fiduciary Duties To The Company And Its Members
In In re Mijares, a plaintiff claimed that a defendant defrauded him and breached fiduciary duties owed to him by charging improper, excessive, and unauthorized expenses to their medical practice,…
Bankruptcy & Restructuring Law
New Chapter 11 Filing – Carestream Health, Inc.
By Cole Schotz
On August 23, 2022 (the “Petition Date”), Rochester, New York-based Carestream Health, Inc. along with several affiliates (the “Debtors”), which provide worldwide X-ray imaging systems for medical, non-destructive testing and…