A Tale of 4 Cities: How Different Jurisdictions Recently Address Third-Party Releases

Intro The ability of a chapter 11 going-concern debtor to be discharged from its prepetition liabilities is common place and not controversial.  11 U.S.C.  § 1141(d).  However, the ability of a debtor to release third-party non-debtors from their own liabilities has sparked much debate, because, among other things, the Bankruptcy Code does not clearly or… Continue reading A Tale of 4 Cities: How Different Jurisdictions Recently Address Third-Party Releases

Option III – Structured Bankruptcy Dismissals are Alive and Well Even After Jevic

Intro Justice Breyer of the Supreme Court previously recognized that a chapter 11 bankruptcy case can generally lead to the following results: reorganization through a confirmed chapter 11 plan, where a deal with creditors can be achieved; conversion of the the case to chapter 7, where no deal with creditors can be achieved; and dismissal… Continue reading Option III – Structured Bankruptcy Dismissals are Alive and Well Even After Jevic

Weinstein Case Demonstrates Difficulties in Following Complex Bankruptcy Sales

Intro Everyone is likely familiar with the chapter 11 bankruptcy of The Weinstein Company (“”TWC“), an former film and production studio that previously produced and distributed featured films and premium television content internationally.  On March 19, 2018 (the “Petition Date“), TWC was forced to file bankruptcy following numerous claims of private misconduct against its co-founder,… Continue reading Weinstein Case Demonstrates Difficulties in Following Complex Bankruptcy Sales

New Mexico Court Reminds that Prosecuting Prepetition Claims in Bankruptcy May Still Violate the Automatic Stay

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 the automatic stay to continue liquidating its claim against the debtor in a non-bankruptcy forum, pursuant to… Continue reading New Mexico Court Reminds that Prosecuting Prepetition Claims in Bankruptcy May Still Violate the Automatic Stay

2020 RECAP: CORPORATE RESTRUCTURING REVIEW (CRR)

INTRODUCTION Amidst a global pandemic, there were plenty of interesting bankruptcy and restructuring events and changes that occurred in 2020.  We saw new Bankruptcy Code amendments go into effect (through the Small Business Reorganization Act of 2019), a government bailout in excess of $2.3 trillion (through the CARES Act), many life-long retailers on the brink… Continue reading 2020 RECAP: CORPORATE RESTRUCTURING REVIEW (CRR)

Bankruptcy Topics in Distressed Real Estate

Introduction Bankruptcy cases involving commercial real estate present a multitude of problems. Those problems typically arise in the context of voluntary cases filed under chapter 11 of the Bankruptcy Code, 11 U.S.C. §§ 101-1532, and involve a dispute between the business debtor and its mortgage lender. As such, this Paper focuses primarily on chapter 11… Continue reading Bankruptcy Topics in Distressed Real Estate