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Commercial Bankruptcy

Benesch

Claimants at the Gate: Circuit Split Develops on Bankruptcy Court’s “Gatekeeping” Role

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A recent decision by the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”), in the matter of In re AIO US, Inc., case no. 24-11836-CTG (“Avon”), created a split with the Fifth Circuit on the...more

Blank Rome LLP

Turning Over a New Leaf: How Cannabis Receiverships Can Cultivate a Stronger Future

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It is no secret that the cannabis industry has been on a wild ride lately, especially in mature markets. Many operators are feeling the pressure, and they are not alone. Let us break down the current landscape, why it is...more

Hogan Lovells

Leapfrogging the Strait of Messina: Lessons from Waldorf’s failed restructuring plan

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On 19 August 2025, the High Court refused sanction of the restructuring plan proposed by Waldorf Production UK Plc under Part 26A of the Companies Act 2006. On 9 September 2025, Waldorf was granted a certificate to...more

Seward & Kissel LLP

Round Trip Ticket and Doctor’s Orders

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Spirit Airlines files for bankruptcy for 2nd time in less than a year | NPR After emerging from a Chapter 11 reorganization in March, the airline has once again filed for bankruptcy protection. S&K Take: The big news in the...more

Mandelbaum Barrett PC

Turning Conflict Into Capital: Litigation as an Investment Strategy

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Traditionally, litigation has been viewed as a costly necessity. In today’s complex financial landscape, litigation is no longer just a cost center, it’s emerging as a dynamic investment tool across fund types. This series...more

Pillsbury Winthrop Shaw Pittman LLP

Bankruptcy Court Holds That SAFE Investors May Have Creditor Claims in Chapter 11

In In re Rhodium Encore LLC, the U.S. Bankruptcy Court for the Southern District of Texas ruled that holders of SAFEs should be treated as creditors because they possess creditor claims, not merely equity interests. The...more

Hogan Lovells

Aggregate / Furst – Successfully disputing recognition of Restructuring Plan

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Project Fürst purported to restructure its liabilities of over EUR 1 billion, for which the developer relocated to London in order to implement a “Restructuring Plan” under the English Part 26A regime. The Restructuring Plan...more

Skadden, Arps, Slate, Meagher & Flom LLP

Lessons From the Silicon Valley Bank Chapter 11: Preserving Indemnification and Contribution Rights

Can a bar date extinguish indemnification and contribution rights against a debtor even if the underlying lawsuit is initiated post-bar date? According to a June 2024 decision by Judge Glenn in the Silicon Valley Bank Chapter...more

Goodwin

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

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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

Greenberg Glusker LLP

Chapter 11—A Basic Primer

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No one sets out in business to fail, but despite our best efforts, this sometimes occurs. The reasons are multiple and varied: Sometimes there is a change in the industry and the business has not been able to evolve to meet...more

Arnall Golden Gregory LLP

Restructuring Roundup - August 2025

AGG’s Restructuring Roundup newsletter is a monthly update of legal issues and news affecting or related to commercial litigation and bankruptcy. The newsletter is a curation of published articles and news, and contains...more

Goodwin

CFPB Enters a Proposed Agreement with Banking-as-a-Service Platform After Failure to Maintain Records Following Bankruptcy

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The Consumer Financial Protection Bureau (CFPB) announced that it filed a complaint against a banking-as-a-service platform on August 21, 2025 in the U.S. Bankruptcy Court for the Central District of California, San Fernando...more

Patterson Belknap Webb & Tyler LLP

New Jersey Bankruptcy Court Rules That Debtor Could Not Sell its Future Accounts Receivable Prepetition

A bankruptcy court in New Jersey recently granted a debtor’s motion to dismiss the counterclaims of two creditors who purchased a percentage of the debtor’s future receivables prepetition. The court rejected the creditors’...more

Quinn Emanuel

August 2025 Business Litigation Report

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When Machines Discriminate: The Rise of AI Bias Lawsuits - Over the past three years, businesses in the United States have rapidly adopted artificial intelligence (“AI”) technology – defined broadly as the ability of...more

Offit Kurman

One Way or Another: Non-U.S. Crypto Customers Will Have to Face Celsius Preference Lawsuits

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Earlier this summer, the Bankruptcy Court for the Southern District of New York rejected a challenge to the Litigation Administrator, Moshin Y. Meghji, lawsuits against Celsius Network LLC customers. The challenge was based...more

Hudson Cook, LLP

CFPB Files Action against Fintech Bank Partner for Alleged Unfair Practices Related to Record Keeping of Consumer Funds

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On August 21, 2025, the Consumer Financial Protection Bureau filed an enforcement action in connection with Chapter 11 bankruptcy proceedings for a fintech (the "Fintech") acting primarily as a third-party service provider...more

Conyers

Cayman Islands Restructuring: Observations Following Petrofac

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This article follows our previous commentary on the English High Court’s decision in May 2023 to sanction the Adler Group’s restructuring plan and the Court of Appeal’s reversal of that decision in February 2024. The recent...more

Seward & Kissel LLP

The Customer is Always Right and My Dear Watson

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Ripple’s tied Linqto makes a settlement offer in today’s bankruptcy hearing | Cryptopolitan - The bankrupt company announced on Tuesday that a proposed $60 million debtor-in-possession loan—for which customer-owned shares...more

Troutman Pepper Locke

What Happens to My Unpaid Wages if My Employer Files for Bankruptcy? - Creditor’s Rights Toolkit

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When a company files for bankruptcy, it can be an unsettling time for the company's employees who may worry about job and financial security, including unpaid wages and employee benefits. While these concerns are legitimate,...more

Offit Kurman

Fifth Circuit Confirms Third-Party Liens Survive Chapter 11 Discharge

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The Fifth Circuit has confirmed the old adage that liens “ride through” bankruptcy regardless of a discharge. Reversing a Texas bankruptcy court, the Circuit Court has held that a statutory privilege (a lien) against property...more

Felicello Law PC

What Adversary Proceedings Mean for Global Stakeholders

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In United States corporate bankruptcies, much of the action happens outside the spotlight of the main reorganization plan in a parallel but crucial track: the adversary proceeding. These separate litigation proceedings can...more

Seward & Kissel LLP

Receiving Line, That’s the Spirit? and Booming Business

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Alex Jones’ Infowars will go up for sale yet again, judge rules | CNN Business - The Onion is set to revive its bid on Jones’s outlet and its assets after a federal judge halted the sale in December....more

White and Williams LLP

Of Whiskey and Martha’s Vineyard Realty:  Federal Receivership Ordered for Fast Growing Uncle Nearest Brand

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Companies facing financial difficulties often utilize Chapter 11 to help effectuate a restructuring or sale as part of a case filed in the United States Bankruptcy Court. In other instances, a company’s lender – impatient...more

Walkers

Court of Appeal confirms the Grand Court's power to regulate who will be the voluntary liquidator of an exempted limited...

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Walkers successfully represented the respondent limited partner in appeal proceedings filed by the General Partner (the "GP") of One Thousand & One Voices Africa Fund I, L.P. (in Voluntary Liquidation) (the "Partnership"),...more

Arnall Golden Gregory LLP

Restructuring Roundup - July 2025

AGG’s Restructuring Roundup newsletter is a monthly update of legal issues and news affecting or related to commercial litigation and bankruptcy. The newsletter is a curation of published articles and news, and contains...more

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