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Michael Sweet was quoted in the Detroit News article "Detroit Will Need to prove it is Financially Insolvent." While the full text can be found in the July 18, 2013, issue of Detroit News, a synopsis is noted below.

On April 25, 2016, an Opinion White Paper was issued by a group of 28 law firms to provide guidance to practitioners in rendering legal opinions regarding Section 316(b) of the Trust Indenture Act.

Can a senior secured creditor, who credit bid for substantially all of a debtor's assets, contribute non-estate property to a litigation trust for the benefit of general unsecured creditors...

Detroit is a shrinking city. The city filed for bankruptcy last July and has accumulated $18 billion in debt as it continues to see its population decline.

Directors and officers of companies in financial distress face complex responsibilities and challenges. Indeed, managing a company on the brink of insolvency is often uncharted territory for its leadership. When confronted with such challenges, adherence to fiduciary duties is crucial to ensure responsible governance and minimize the risk of litigation or personal liability.

In his latest article for The Bankruptcy Strategist titled, "District Court Cautiously Affirms Five-Year Old Purdue Preliminary Injunction," Schulte Roth & Zabel of counsel Michael L. Cook

Shareholders say they are entitled to a bigger piece of a shipping company than they are being offered as one of the world’s largest tanker operators works its way through bankruptcy.

A paper to be published soon in the University of Southern California Law Review, "The Rise of Bankruptcy Directors," is sharply critical of the increased use of supposedly "independent directors"...

On January 14, 2021, the Supreme Court held in City of Chicago v. Fulton that a creditor does not violate the automatic stay by merely retaining possession of the debtor's property...

On September 12, 2024, the U.S. Court of Appeals for the Eighth Circuit nixed a $563 million jury verdict against BMO Harris Bank involving claims that the bank aided and abetted...

Late last month, the Third Circuit established new law that anyone considering the filing an involuntary bankruptcy petition must review.

Partner Fredric Sosnick (New York-Financial Restructuring & Insolvency) has just released the latest issue of Financially Distressed Companies Answer Book 2019 for the Practising Law Institute (PLI).

On March 20, Florida Governor Rick Scott signed Senate Bill 220 into law.

Companies facing fraud-based liabilities can file a Chapter 11 bankruptcy to rehabilitate and restructure the business and address fraud claims asserted against them.

On April 19, 2015, Frederick’s of Hollywood, Inc., and its affiliated companies (the "Debtors" or "Frederick’s") filed chapter 11 bankruptcy petitions in the United States Bankruptcy Court for the District of Delaware.

The Court considered whether federal capital-gains-tax liability resulting from the sale by "family farmer" debtors of their farm property during a chapter 12 case was "incurred by the estate" under section 503(b) of the Bankruptcy Code.

Trinity Cadillac, a Cadillac automobile dealership located in Englewood Cliffs, New Jersey, is being marketed through a court-approved §363 sale process, offering investors a rare opportunity to acquire...