Recent decisions reflect a renewed focus on lock-up provisions by bankruptcy courts.
The U.S. Bankruptcy Court for the Southern District of New York recently severed a provision from a post-petition agreement that required...more
7/31/2024
/ Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Commercial Bankruptcy ,
Corporate Counsel ,
Creditors ,
Debtors ,
Enforcement ,
Liquidity ,
New York ,
Popular ,
Reorganizations
In a rebuke of a common law doctrine that denied insurer standing in chapter 11, the U.S. Supreme Court ruled unanimously that insurers with financial responsibility for claims asserted in bankruptcy are parties in interest...more
The Coronavirus Aid, Relief and Economic Security (CARES) Act temporarily expands eligibility for “small businesses” to reorganize under chapter 11 over creditor objection under a new law that streamlines chapter 11...more
New York bankruptcy court cautions against liquidated damages provisions that are “invariant to the gravity of the breach.”
Liquidated damages provisions must be based on a “causal link” between the anticipated harm and...more
7/11/2019
/ Aircraft ,
Aircraft Financing ,
Bankruptcy Court ,
Commercial Bankruptcy ,
Commercial Leases ,
Contract Terms ,
Default ,
Executory Contracts ,
Financial Guarantee Requirements ,
Liquidated Damages ,
Reasonableness Factors ,
Unenforceable Contract Terms ,
Uniform Commercial Code (UCC)