In a landmark ruling, the US Court of Appeals for the Fifth Circuit ruled that a June 2020 refinancing transaction (the Uptier Transaction) entered by Serta Simmons Bedding, LLC (SSB, or the Debtor) and certain of its lenders...more
1/14/2025
/ Bankruptcy Code ,
Bankruptcy Court ,
Breach of Contract ,
Chapter 11 ,
Commercial Bankruptcy ,
Credit Agreements ,
Creditors ,
Debt ,
Debtors ,
Lenders ,
Reorganizations
In the chapter 11 bankruptcy case of In re Roman Catholic Diocese of Rockville Centre, New York, Case No. 20-12345 (MG), the US Bankruptcy Court for the Southern District of New York recently approved settlement agreements...more
1/8/2025
/ Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Churches ,
Commercial Bankruptcy ,
Commercial Insurance Policies ,
Insurance Claims ,
Insurance Litigation ,
Settlement Agreements ,
Sexual Abuse ,
Third-Party Release Agrements
The US Bankruptcy Court for the Western District of Pennsylvania issued a memorandum opinion on November 15, 2024, holding that a real property lease for a skilled nursing, long-term care, and rehabilitation facility should...more
12/4/2024
/ Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Commercial Bankruptcy ,
Commercial Leases ,
Commercial Tenants ,
Creditors ,
Debtors ,
Healthcare ,
Landlords ,
Long Term Care Facilities ,
Rental Property ,
Skilled Nursing Facility ,
Tenants
Introduction - On October 25, 2024, Judge John P. Mastando III of the US Bankruptcy Court for the Southern District of New York issued a ruling in Eletson Holdings Inc., Case No. 23-10322, pursuant to which he (a) denied...more
On September 19, 2024, the US Court of Appeals for the Second Circuit issued a summary order in which it held that the “safe harbor” provision of Section 546(e) of the Bankruptcy Code preempted a bankruptcy trustee’s state...more
10/3/2024
/ Avoidance ,
Bankruptcy Code ,
Chapter 11 ,
Commercial Bankruptcy ,
Debt Restructuring ,
Financial Institutions ,
Fraudulent Transfers ,
Leveraged Buyout ,
Recapitalization ,
Safe Harbors ,
Securities ,
Trustees
Introduction - On September 10, 2024, the US Court of Appeals for the Third Circuit decided in In re Hertz that although make-whole fees are unmatured interest typically disallowed by section 502(b) of the Bankruptcy Code, a...more