Overview Limited liability companies (LLCs)—curious creatures of state law—often file bankruptcy. Bankruptcy courts have, therefore, developed a dynamic body of law to evaluate the “bankruptcy remoteness” of LLCs, assessing...more
Editor’s Note (November 14, 2024):
Since the publication of this article, FTX has intensified its efforts to recover assets through clawback litigation, with filings beginning in early November 2024, two years following...more
What is the status of the Avon bankruptcy?
Avon Products Inc., a U.S.-based holding company that owns the Avon brand outside the United States, filed for Chapter 11 bankruptcy protection on August 14, 2024. The filing...more
The clawback provisions in the U.S. Bankruptcy Code are essential tools for protecting a bankruptcy estate and creditors' interests from preferential or fraudulent asset transfers that deplete estate funds and negatively...more
It has been just over a year since the first known COVID-19 cases and related shutdowns occurred in the US. In early 2020, everything from grocery shopping to global politics was deemed “unprecedented” and “unpredictable.”...more
Before the petition date, creditors holding more than 70 percent of the debtors' senior debt agreed to provide $225 million in financing, subject to Court approval. A proposed restructuring support agreement plans to...more