Popular, Bankruptcy Court, Commercial Bankruptcy

Environmental Liability/Corporate Structure: Federal Bankruptcy Court Addresses Derivative Standing to Pierce Corporate Veil

Mitchell, Williams, Selig, Gates & Woodyard,... on 7/28/2025

The United States Bankruptcy Court for the Eastern District of Louisiana ("Court") recently addressed issues arising under Louisiana environmental protection laws and federal bankruptcy law involving an unpermitted landfill...more

Avianca: Second Court Adopts "Billing Date" Approach to Timely Performance of Unexpired Commercial Personal Property Leases in...

Jones Day on 7/23/2025

In 1984 and 1994, Congress amended the Bankruptcy Code to add protections for commercial real property and equipment lessors. Those provisions—sections 365(d)(3) and section 365(d)(5), respectively—generally require a...more

New York Bankruptcy Court Examines COMI for Purposes of Chapter 15 Recognition of Foreign Restructuring Proceedings Involving...

Jones Day on 7/22/2025

As chapter 15 of the Bankruptcy Code quickly approaches its 20th anniversary in a global economy, the volume of cross-border bankruptcy cases has rapidly escalated. With multinational companies having affiliates throughout...more

The Effect of Irregularities on the Validity of a Creditors’ Meeting

Conyers on 6/9/2025

The courts are generally reluctant to interfere with the outcomes of creditors’ meetings at which resolutions are voted on and passed. After all, such resolutions are decided and voted on by the creditors, thereby...more

State AGs and the FTC Warn of 23andMe Risks Following Bankruptcy Announcement

Troutman Pepper Locke on 4/7/2025

Several state attorneys general (AGs) and the Federal Trade Commission (FTC) have begun scrutinizing ancestry tracking company 23andMe following its recent announcement that it has filed for Chapter 11 bankruptcy. As part of...more

How the U.S. Supreme Court's Rulings on Kaiser and Purdue Pharma Affect Insurers' Rights and Interests in Chapter 11 Cases

Hinshaw & Culbertson - Insights for Insurers on 10/29/2024

On June 6, 2024, the United States Supreme Court issued its decision on an insurer’s standing in its policyholders’ Chapter 11 bankruptcy proceeding in Truck Exchange v. Kaiser Gypsum Co., 144 S. Ct. 1414 (2024). The decision...more

Bankruptcy, Insolvency & Rehabilitation Proceedings in Brazil

International Lawyers Network on 10/11/2024

KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER BRAZILIAN LAW - 1. A brief presentation of the bankruptcy/ insolvency/ rehabilitation proceedings of the country and their main differences. The...more

FDIC’s Proposed Changes to Custodial Deposit Accounts: Practical Implications for Fintechs and Their Banks

Perkins Coie on 9/23/2024

The Federal Deposit Insurance Corporation (FDIC) issued a Notice of Proposed Rulemaking (the Proposal) on September 17, 2024, that seeks to strengthen recordkeeping for bank deposits held by nonbank companies on behalf of...more

Talc-Related Matter Filings Predictably Increase, As New Bankruptcies are Filed

Husch Blackwell LLP on 9/5/2024

Observers of filing trends in personal injury mesothelioma matters alleging exposure to talc contaminated with asbestos have noted that the bankruptcy filing of a predominant defendant in those matters did little to slow the...more

Circuit Split: Eleventh Circuit and Second Circuit Disagree on Eligibility Requirements for Chapter 15 Debtors

Jones Day on 8/1/2024

Courts disagree over whether a foreign bankruptcy case can be recognized under chapter 15 of the Bankruptcy Code if the foreign debtor does not reside or have assets or a place of business in the United States. In 2013, the...more

Bankruptcy Court Rejects Attempts to Lock Up Creditor Votes in Favor of Reorganization Plan

Pillsbury Winthrop Shaw Pittman LLP on 7/31/2024

Recent decisions reflect a renewed focus on lock-up provisions by bankruptcy courts. The U.S. Bankruptcy Court for the Southern District of New York recently severed a provision from a post-petition agreement that required...more

Understanding Suppliers’ Rights and Remedies in Retail and Hospitality Bankruptcies

ArentFox Schiff on 5/28/2024

On May 14, Outfox Hospitality LLC, the parent company of the retail chain Foxtrot Market, along with its affiliates, filed for Chapter 7 bankruptcy protection in the Bankruptcy Court for the District of Delaware, with the...more

Singapore International Commercial Court Issues First Decision on Recognition of Cross-Border Bankruptcy Cases under Model Law

Jones Day on 3/26/2024

Established in 2015 as a trusted neutral forum to meet increasing demand for effective transnational dispute resolution, the Singapore International Commercial Court (the "SICC") is a division of the General Division of the...more

Supreme Court Hits the Brakes on Boy Scouts Chapter 11 Plan

White and Williams LLP on 2/19/2024

In a terse last-minute order, the United States Supreme Court stayed implementation of the Boy Scouts of America’s (“BSA”) confirmed Chapter 11 plan, which would have stripped thousands of survivor claimants of their ability...more

Second Circuit Adopts "Transfer-by-Transfer" Approach to Bankruptcy Code's Safe Harbor for Securities Contracts Payments

Jones Day on 2/8/2024

The scope of the Bankruptcy Code's "safe harbor" shielding certain securities, commodity, or forward-contract payments from avoidance as fraudulent transfers has long been a magnet for controversy, particularly after the U.S....more

Bankruptcy Trustees and Receivers Beware: The California Second District Court of Appeal Tests The Barton Doctrine’s Limits on...

Buchalter on 10/27/2023

In Breanne Martin v. Leslie Gladstone, the Second District Court of Appeal recently decided a case that could reverberate throughout the receivership and bankruptcy industries. This case comes at a propitious moment as...more

Bankruptcy in the Cannabis Space

Troutman Pepper Locke on 10/25/2023

Though controversial, cannabis has steadily grown into a booming industry. Despite this rapid growth and the legalization of cannabis in numerous states, cannabis is still classified as a Schedule I drug under the Controlled...more

Liquidating Chapter 11 Plan Confirmed Despite Provision Temporarily Enjoining Litigation Against Corporate Debtors

Jones Day on 7/28/2023

To prevent "trafficking in corporate shells," the Bankruptcy Code prohibits any discharge of corporate or partnership debts if the debtor is not an "individual" and, in a chapter 11 case, if the debtor proposes a liquidating...more

Second Circuit Assesses Propriety of Third-Party Releases in Purdue

McDermott Will & Schulte on 6/13/2023

On May 30, 2023, the US Court of Appeals for the Second Circuit released its long-awaited opinion addressing Purdue Pharma’s confirmed chapter 11 bankruptcy plan. Although the appeal challenged more than one aspect of the...more

SVB Financial Group Files for Chapter 11 Bankruptcy

Lowenstein Sandler LLP on 3/21/2023

Early Friday morning, March 17, 2023, SVB Financial, the former holding company of SVB, filed a voluntary Chapter 11 bankruptcy petition in the United States Bankruptcy Court for the Southern District of New York, citing the...more

Third Circuit Dismisses J&J Affiliate LTL’s Talc Liability Chapter 11 Filing; “Good Faith” Under 1112(b) Requires Financial...

Cadwalader, Wickersham & Taft LLP on 2/10/2023

Executive Summary: On January 30, 2023, the U.S. Court of Appeals for the Third Circuit (the “Court”) issued an opinion in In re LTL Management, LLC, No. 22-2003, 2023 WL 1098189, at *1 (3d Cir. Jan. 30, 2023) (“LTL...more

The Year In Bankruptcy: 2022

Jones Day on 2/1/2023

One year ago, we wrote that, in early 2021, it was widely anticipated that the unprecedented pressure the COVID-19 pandemic brought to bear on the U.S. economy would lead to a boom in corporate bankruptcy filings. That boom...more

Courts Approve Alternative Service Via Twitter and Blockchain in Cryptocurrency Cases

Akerman LLP on 1/26/2023

Recent decisions permitting service of documents via social media and blockchain technology illustrate how the courts are fashioning solutions to address the unique and logistical challenges of identifying and serving...more

Read the Fine Print – Bankruptcy Court Holds Cryptocurrency in Interest Bearing 'Earn Accounts' to be Property of the Estate

Nelson Mullins Riley & Scarborough LLP on 1/17/2023

When a company files for bankruptcy protection, Section 541 of the Bankruptcy Code creates an estate comprised of "all legal and equitable interest of the debtor in property." On July 15, 2022, Celsius Network LLC filed for...more

My Crypto's Gone: Cryptocurrency in Earn Accounts Belong to Celsius Not Customers

Bracewell LLP on 1/10/2023

Cryptocurrency in Celsius’ Earn Accounts belongs to the bankruptcy estate, and not to the depositors who placed it there, according to a January 4 memorandum opinion from Judge Martin Glenn of the U.S. Bankruptcy Court in the...more

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