News & Analysis as of

Bankruptcy Code Liquidation Fraudulent Transfers

Goodwin

Incentivizing Executives to Stay Through a Chapter 11 Asset Sale (Part I): Key Employee Retention Programs for Insiders

Goodwin on

The best — and sometimes only — option for a financially troubled company to avoid a piecemeal liquidation may be to seek an acquirer for itself or its assets. While a distressed company may prefer an out-of-court sale...more

Jones Day

Second Circuit: Madoff Ponzi Scheme Customers Did Not Receive Fictitious Profit Payments "For Value"

Jones Day on

In the latest chapter of more than a decade of litigation involving efforts to recover fictitious profits paid to certain customers of Bernard Madoff's defunct brokerage firm as part of the largest Ponzi scheme in history,...more

Rosenberg Martin Greenberg LLP

The Trustee Is Suing Me For A Transfer I Received How Many Years Ago?

Any creditor that has experienced more than a few customers or borrowers filing for bankruptcy is aware that there is a risk of being sued by a trustee to avoid transfers that the creditor received prior to the bankruptcy...more

Herbert Smith Freehills Kramer

Flow-through Tax Status as a Property Right? The Case of Schroeder Brothers Farms

A recent case from the Western District of Wisconsin, In re Schroeder Brothers Farms of Camp Douglas LLP, may raise a new issue for the bankruptcy treatment of tax attributes in flow-through entities. The court in Schroeder...more

Foley & Lardner LLP

Storm Preparation: Dealing With Financially Troubled Companies and Avoiding Clawbacks

Foley & Lardner LLP on

The current state of the U.S. economy is relatively strong. That said, every economy remains subject to the normal ups and downs of the business cycle. Eventually, dark clouds will gather and businesses will be required to...more

Skadden, Arps, Slate, Meagher & Flom LLP

Second Circuit Allows Avoidance Actions Against Foreign Transferees in Madoff Proceeding

On February 25, 2019, the U.S. Court of Appeals for the Second Circuit vacated the bankruptcy court’s dismissal of avoidance actions brought by Irving Picard, the trustee (Trustee) for the liquidation of Bernard L. Madoff...more

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