News & Analysis as of

Chapter 11 Business Litigation

Greenberg Glusker LLP

United States v. Miller: U.S. Supreme Court Narrows the Scope of Sovereign Immunity Abrogation Under Section 106(a)

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The United States Supreme Court has held that the sovereign immunity waiver in Section 106(a) of the Bankruptcy Code does not extend to state law claims “nested” within a Section 544(b) claim for relief, depriving bankruptcy...more

Farrell Fritz, P.C.

Bankruptcy, Board Conduct, and Fiduciary Duty: Key Takeaways from Ragab v. SHR Capital Partners LLC

Farrell Fritz, P.C. on

In a recent decision from the Manhattan County Commercial Division, Justice Margaret A. Chan addressed a confluence of corporate-governance, fiduciary-duty, and bankruptcy-stay issues in Ragab v. SHR Capital Partners LLC. The...more

King & Spalding

Delaware Bankruptcy Court Sides with Trustee in Two Related Orders in $500 Million Fraudulent Transfer Action Arising out of...

King & Spalding on

In related orders in an action to recover over $500 million in alleged fraudulent transfers arising out of the bankruptcy of an education technology company, the U.S. Bankruptcy Court for the District of Delaware denied...more

Seward & Kissel LLP

Blink and You’ll Miss It, Beauty Products Liability, Shooting for 3, and Tetherball

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Blink Fitness files for Chapter 11 bankruptcy | Bloomberg - Blink Fitness, a gym chain owned by Equinox, filed for Chapter 11 bankruptcy protection in Delaware, citing assets and liabilities each ranging from $100 million...more

Conyers

Modified Universalism in the Context of Officeholder Sanction Applications

Conyers on

Russell Crumpler & Christopher Farmer (as Joint Liquidators of Three Arrows Capital Ltd (in Liquidation)) v Three Arrows Capital Ltd (in Liquidation) and BVIHC (Com) 2022/0119 (unreported 26 July 2023) The BVI liquidation...more

Patterson Belknap Webb & Tyler LLP

Fireworks in the Sky but not in Court: Bankruptcy Judge Takes a Practical Approach to the Ordinary Course of Business Defense

A recent decision applied the ordinary course of business defense to a preferential transfer claim where the parties had engaged in only two transactions. In re Reagor Dykes Motors, LP, Case No. 18-50214, Adv. No. 20-05031,...more

FordHarrison

Non-Compete News: – Georgia Court Interprets Non-Compete Statute's "Sale-of-a-Business" Provision

FordHarrison on

Georgia’s Restrictive Covenants Act (O.C.G.A. § 13-8-50 et seq.) (“RCA”) governs Georgia non-compete agreements entered into after May 2011. Very few courts have interpreted the RCA since its inception. In Bearoff v. Craton,...more

Stinson LLP

The Defense of Commercial Lenders in Multi-Tenant Bankruptcy

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The Sixth Circuit Court of Appeals in its recent decision in Town Center Flats, LLC v. ECP Commercial II LLC (In re Town Center Flats LLC), Case No. 16-1812 (6th Cir. May 2, 2017), reinforces an option that commercial lenders...more

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