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
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
Hertz: Third Circuit Weighs In On Make-Whole Premiums And The “Solvent-debtor Exception” In Chapter 11 Cases - A handful of recent high-profile court rulings have considered whether a chapter 11 debtor is obligated to pay...more
The ability of a creditor to offset any liability it may have to a debtor against the amount of the debtor's obligation to the creditor is an important right. The Bankruptcy Code expressly preserves that right, provided it...more
Consistent with precedent in its sister circuits, the U.S. Court of Appeals for the Fifth Circuit in CLO Holdco, Ltd. v. Kirschner (In the Matter of Highland Cap. Mgmt. LP), 102 F.4th 286 (5th Cir. 2024), held that to amend a...more
From a practical business perspective, you can evade disaster, protect your payments from others’ financial shortages, and avoid the pitfalls of another’s bankruptcy—and still end up first—with a bit of knowledge, planning,...more
Financial distress persists in the commercial real estate market, raising the prospects that property owners and landlords could seek relief under chapter 11 of the Bankruptcy Code. The Bankruptcy Code contains numerous...more
Bankruptcy filings affect businesses across America. The Bankruptcy Code is complex and difficult to navigate. But used properly, it can helpcreditors to minimize losses when a customer files bankruptcy. ...more
In its recent opinion in Raymond James & Associates Inc. v. Jalbert (In re German Pellets Louisiana LLC), 23-30040, 2024 WL 339101 (5th Cir. Jan. 30, 2024), the Fifth Circuit held that a confirmed bankruptcy plan enjoined a...more
As Celsius Network LLC, et al., Case Number: 22-10964 (MG), proceeds in the Bankruptcy Court for the Southern District of New York (the “Court”), the highly anticipated examiner report was released on January 31st....more
As discussed in the prior Bitblog update regarding the Celsius Network LLC, et al., (the “Debtor”) bankruptcy proceeding (Case No. 22-10964 (MG) in the Bankruptcy Court for the Southern District of New York (the “Court”)),...more
As Celsius Network LLC, et al., Case Number: 22-10964 (MG), proceeds in the Bankruptcy Court for the Southern District of New York (the “Court”), recent case updates relating to the approaching claims bar date...more
As Celsius Network LLC, et al., Case Number: 22-10964 (MG), proceeds in the Bankruptcy Court for the Southern District of New York (the “Court”), the following summarizes two important case updates as of November 18, 2022: ...more
As Celsius Network LLC, et al., Case Number: 22-10964 (MG), proceeds in the Bankruptcy Court for the Southern District of New York (the “Court”), the following summarizes an important case update as of November 4, 2022...more
As Celsius Network LLC, et al., Case Number: 22-10964 (MG), proceeds in the Bankruptcy Court for the Southern District of New York (the “Court”) over the last month there have been a number of important updates in the case....more
Customers and creditors of Voyager Digital Holdings face a deadline to file official “proofs of claim” setting forth the amounts they assert that Voyager owes them. The deadline is 5:00 p.m. ET on October 3, 2022...more
If you really want to be released from your lease obligations and those of your assignee, you need to get a landlord release at the time of assignment. An assignor tenant’s lease obligations survive an otherwise permitted...more
Industry News - Archdiocese of Santa Fe's bankruptcy case plods along... The Purdue Bankruptcy Didn’t Work...more
If you are a royalty owner and have questions about how your claim is likely to be treated when your lessee/operator goes into bankruptcy in Delaware, In re MTE Holdings LLC is a significant case....more
The SBA recently issued its Procedural Notice on when a lender may request the SBA to honor its guaranty of a PPP loan. The PPP loan program has been in place for over a year and has provided billions of dollars of assistance...more
There is more than one way that a creditor of a bankrupt entity (or debtor) can directly prosecute its claims in bankruptcy. If the creditor is involved in prepetition litigation with the debtor, it could request relief from...more
We hope that you found the three previous Q&A series regarding what to do when a U.S. customer files for Chapter 11 bankruptcy protection helpful. This Series Four will address questions relating to how claims are filed and...more
We hope that you enjoyed Series One of our Q&A regarding what to do when a U.S. customer files for Chapter 11 bankruptcy protection. This Series Two will address questions relating to how suppliers and their supply contracts...more