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Notice Requirements › Bankruptcy Code

Skadden, Arps, Slate, Meagher & Flom LLP

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

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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

Proskauer Rose LLP

The “Board Flip”: How Effective is the Pre-Petition Exercise of Proxy Rights in the Face of Bankruptcy?

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When debt restructuring discussions are at an impasse and the reservoir of goodwill between the parties has run dry, stakeholders face difficult choices. For a lender, one of the most powerful tools available is the exercise...more

Levenfeld Pearlstein, LLC

Bankruptcy Doesn’t Shield Employees from WARN Act Layoff Notice Requirements—Unless an Exception Applies

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Layoffs often accompany corporate bankruptcy, and employers should be aware of the legal obligations that impact mass layoffs and plant closures. Most notably, the federal WARN Act requires employers to notify the workforce...more

Nelson Mullins Riley & Scarborough LLP

11th Circuit Approves of Third-Party Releases Despite Debtor’s Failure to Comply with Strict Notice Requirements of Bankruptcy...

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Overview - Although a discharge might not release third parties and protects only the debtor against a determination of personal liability, in In re Le Ctr. on Fourth, LLC, 17 F.4th 1326 (11th Cir. 2021), the Eleventh...more

Fox Rothschild LLP

Not all Forced-Sale Mortgage Foreclosures are Exempt from Avoidance as Fraudulent Transfers Under Section 548 – a Case Study...

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The United States Supreme Court held in BFP v. Resolution Trust, that properties sold at “force-sale” mortgage foreclosure sales properly conducted pursuant to a state’s foreclosure statute are presumed to have been sold for...more

Fox Rothschild LLP

You Have to Follow the Rules: The Importance of Adhering to Bankruptcy Rule 2002 When Serving Claims Bar Date Notices

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A Delaware bankruptcy court recently held that the bar date for filing proofs of claim cannot be enforced against a creditor if the notice of the bar date was not sent by mail to that creditor. In re Cyber Litigation Inc.,...more

Farrell Fritz, P.C.

Is the Bankruptcy Code Provision on Disposal of Patient Records Useless?

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Section 351 of the Bankruptcy Code permits a health care business in bankruptcy to dispose of patient records if it lacks sufficient funds to pay to store the records in accord with applicable state or federal law. Although...more

Patterson Belknap Webb & Tyler LLP

Due Process in Chapter 15: Industry-Dependent, Jurisdiction-Dependent, or Both?

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In a recent cross-border insolvency case, Judge Glenn of the United States Bankruptcy Court for the Southern District of New York recognized an insurance company rehabilitation proceeding in Curaçao as a “foreign main...more

A&O Shearman

Roust’s Rapid Road to Confirmation: Confirmation of a Prepackaged Plan in the Southern District of New York in Less Than a...

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In less than a week after its bankruptcy filing, a debtor was able to obtain confirmation of its prepackaged plan of reorganization in the Bankruptcy Court for the Southern District of New York. In allowing the case to be...more

Best Best & Krieger LLP

Looking Forward: New California Laws for Public Agencies

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Like years past, there were plenty of laws passed in Sacramento in 2016 that will impact public agencies. Here is a summary of those that have specific importance to your work. We hope that you will contact us for further...more

K&L Gates LLP

Have You Noticed Your Payment Change? Advisory Rules Committee Proposes Amendments to Bankruptcy Rule 3002.1

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The Judicial Conference Advisory Committee on Bankruptcy Rules (the “Advisory Committee”) recently published proposed amendments to the Bankruptcy Rules, including Bankruptcy Rule 3002.1, which requires a secured creditor to...more

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