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
Total bankruptcy filings nationwide for July 2012, decreased 12 percent compared to the previous year, according to data provided by Epiq Systems, Inc. July bankruptcy filings totaled 97,073, down from the 110,173 filings registered in July 2011. Total commercial filings for July 2012 were 4,513, representing a 22 percent decrease from the 5,800 filings during the… Continue reading Bankruptcy Filings Are Down
As reported in the American Bankruptcy Institute Journal in April 2012 (Vol. XXXI, No.3), the American Bankruptcy Institute (“ABI”) has appointed a Commission, composed of experienced insolvency professionals and public officials, that will collect and analyze data, case-law and commentary on the following 13 areas: financing in chapter 11 cases; governance and supervision of chapter… Continue reading Does the Bankruptcy Code Need to Be Modernized for Business Restructurings?