News & Analysis as of

Debtors Due Diligence Bankruptcy Code

Offit Kurman

Acquisition Strategies: Navigating Section 363 Sales and the Impact of Undersecured Liens

Offit Kurman on

Section 363 of the Bankruptcy Code allows a Chapter 11 debtor to sell assets "free and clear" of existing claims, liens, encumbrances, and other liabilities. This provision facilitates expedited sales that might otherwise be...more

Mayer Brown

Section 363 Sales Considerations

Mayer Brown on

Distressed entities seeking to sell assets often encounter commercial and legal challenges related to existing claims or resistant constituents. One possible solution to those challenges is to sell assets in bankruptcy...more

Troutman Pepper Locke

5 Issues to Consider When Liquidating Through an ABC

Troutman Pepper Locke on

Assignments for the benefit of creditors, or ABCs, continue to grow in popularity as a tool for the orderly wind-down of companies. Originally published in Law360 - March 21, 2024....more

Troutman Pepper Locke

Fla. Bankruptcy Ruling Is Cautionary Tale for Debt Collectors

Troutman Pepper Locke on

In the case of In re: McIntosh, a debt purchaser’s assertion that it was entitled to enforce a debt not correctly listed on the debtor’s bankruptcy schedules was met with significant pushback from the U.S. Bankruptcy Court...more

Cohen & Gresser LLP

Courts Remain Uncertain on How to Apply the New Due Diligence Requirement for Preference Claims

Cohen & Gresser LLP on

The Bankruptcy Code and its predecessor statutes have long permitted bankruptcy trustees (or their equivalents) to claw back preferences, which involve transfers made on preexisting debts within 90 days (or 1 year, if made to...more

Jenner & Block

Recent Developments in Bankruptcy Law Update - July 2022

Jenner & Block on

Covered Activities - 1.1.a Order granting counterclaim declaring validity of mortgage on the debtor’s property does not violate the stay. The debtor acquired property subject to a disputed mortgage. The debtor brought a...more

Tucker Arensberg, P.C.

Three New Bankruptcy Amendments Become Law

On August 23, 2019, the President of the United States of America signed three new bankruptcy amendments into law.  The first bill, H.R. 3311, ratifies The Small Business Reorganization Act of 2019, creating a new option for...more

Jones Day

A Lesson in DIP Financing Due Diligence

Jones Day on

The Bankruptcy Code contains an array of provisions designed to encourage lenders to provide debtor-in-possession ("DIP") financing in chapter 11 cases, including authorization of "superpriority" administrative expense claims...more

Cozen O'Connor

Third Circuit Affirms Bad Faith Involuntary Bankruptcy Dismissal, Increasing Risk of Punitive Damages

Cozen O'Connor on

Last week’s decision by the U. S. Court of Appeals for the Third Circuit in In re: Forever Green Athletic Fields, Inc., No. 14-3906 (3d Cir. Oct. 16, 2015) held that an involuntary bankruptcy petition filed under 11 U.S.C. §...more

Troutman Pepper

Broker Commissions: Technical Requirements Trump Equitable Considerations

Troutman Pepper on

In re Oak Knoll Assocs., L.P., 525 B.R. 175 (Bankr. D. Me. 2015) – A real estate broker sought allowance of an administrative expense claim for his commission in connection with a sale of real estate.  The debtor and...more

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