News & Analysis as of

Bankruptcy Court State and Local Government

Cadwalader, Wickersham & Taft LLP

“ToMAYto, ToMAHto”: District Court Holds That Differences in State Law Determine Whether Unpaid Annual Pension Contributions...

On March 21, 2025, the U.S. District Court for the Northern District of California affirmed a bankruptcy court’s dismissal of the San Benito Healthcare District’s chapter 9 bankruptcy petition on the grounds that the...more

Seyfarth Shaw LLP

Budtender Bankruptcy Blindside

Seyfarth Shaw LLP on

In a recent legal development that underscores the intricate interplay between federal bankruptcy law and the cannabis industry, a court case has emerged involving a bankruptcy filing by an employee of a cannabis company....more

Troutman Pepper Locke

How Cannabis Cos. Are Adapting in Shifting Bankruptcy Arena

Troutman Pepper Locke on

Although the possession and sale of cannabis remain federally illegal under the Controlled Substances Act, the U.S. Department of Justice has largely exercised a general policy of nonprosecution for state-regulated cannabis...more

Bradley Arant Boult Cummings LLP

Dude, Where’s My Liquidation?

Every election it seems like the country inches closer to cannabis being legal at the federal level. Until that day comes, however, the question of whether those in the cannabis industry can seek bankruptcy relief remains....more

Morgan Lewis

Delaware Bankruptcy Court Ruling on $7.2B Claim Affects Fraudulent Transfer Defense, Valuation Litigation

Morgan Lewis on

In a decision likely to have a knock-on effect for future fraudulent transfer defense and valuation litigation, the Delaware bankruptcy court recently ruled that the price agreed in the sale of an oil and gas company closed...more

Foley Hoag LLP - Cannabis and the Law

Court Allows Cannabis-Related Company to Liquidate Stock in Bankruptcy

While most bankruptcy cases have denied access to federal bankruptcy courts for cannabis and cannabis-related businesses, a Nevada bankruptcy court allowed a chapter 11 case to continue where the Debtor sought to liquidate,...more

Patterson Belknap Webb & Tyler LLP

Fiduciary Duties Waivable by Contract, Precluding Claims

The U.S. Bankruptcy Court in Manhattan recently reminded us why Delaware choice-of-law provisions are so popular in limited partnership and other agreements.  In an adversary proceeding, Judge David S. Jones held that...more

Bradley Arant Boult Cummings LLP

Guest Notebook: New Law Offers Rent Relief for Commercial Tenants

At the end of 2020, Congress enacted the Consolidated Appropriations Act, 2021, partially in response to the COVID-19 pandemic and resulting economic crisis. While funding the federal government and preventing a government...more

Patterson Belknap Webb & Tyler LLP

Delaware Bankruptcy Court Teaches Important Lesson on Timely Lien Perfection

Perfect your liens on time or you may lose them. That’s the painful lesson U.S. Bankruptcy Judge Karen B. Owens taught Halliburton Energy Services, Inc. in her recent decision. Ruling on plaintiff-debtor Southland Royalty...more

Perkins Coie

Another Blow to Bankruptcy Relief for Marijuana-Adjacent Debtors

Perkins Coie on

Though it appeared the smoke might blow in a more favorable direction, the hopes of marijuana-adjacent businesses using the Bankruptcy Code were snuffed out once again by the Bankruptcy Court in Colorado. The Controlled...more

Shutts & Bowen LLP

COVID-Confusion: Force Majeure and Executive Orders

Shutts & Bowen LLP on

Amid the unprecedented conditions that businesses have been forced to operate under, real estate and construction professionals in particular may be struggling to navigate pandemic related legal challenges in their markets....more

Nossaman LLP

New Legislation Proposes Government Takeover of PG&E

Nossaman LLP on

On February 3, 2020, Senator Scott Wiener (D-San Francisco) introduced Senate Bill 917 (“SB 917”), which would establish a new process for a potential government takeover of Pacific Gas and Electric Company (“PG&E”)....more

McAfee & Taft

Extreme caution in marijuana contracts: Bankruptcy relief not available

McAfee & Taft on

With the passage of SQ788, Oklahoma voters have created a new industry rife with opportunities for Oklahomans. From cultivation, processing, and selling, as well as the services that will support medical-marijuana businesses,...more

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