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  • Article

    Quicksilver Drops Motion To Reject Midstream Agreements In Connection With Closing Of Sale To BlueStone Natural Resources

    On April 7, 2016, Quicksilver Resources Inc. ("Quicksilver") announced that it closed the sale of its U.S. assets for $245 million to BlueStone Natural Resources II...
    United StatesInsolvency/Bankruptcy/Re-Structuring
    Jones Day
    Jones Day
  • Article

    Reliance Insurance Co. Liquidation Claims: Recent Offers To Convert Claims To Cash

    Reliance Insurance Company was placed in liquidation on Oct. 3, 2001 by Order of the Commonwealth Court of Pennsylvania.
    United StatesInsolvency/Bankruptcy/Re-Structuring
Barnes & Thornburg LLP
Barnes & Thornburg LLP
  • Article

    Revstone Industries – Venue Transfer Granted For A Fraudulent Transfer Adversary Proceeding

    On November 2, 2015, Judge Brendan L. Shannon walked a pair of litigants through the factors used in the Third Circuit to determine whether to grant a motion to transfer venue.
    United StatesInsolvency/Bankruptcy/Re-Structuring
    Fox Rothschild LLP
    Fox Rothschild LLP
  • Article

    Ruling Casts Shadow On Cannabis Employees' Ch. 13 Relief

    Associates Jane Haviland, Kathryn Droumbakis, and Rachel Sposato co-authored an article published by Law360 discussing bankruptcy relief for employees in the cannabis industry.
    United StatesInsolvency/Bankruptcy/Re-Structuring
    Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.
    Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.
  • Article

    Sunset Of Certain Bankruptcy Code Changes

    As we previously reported, the Bankruptcy Code saw many changes in 2020 and 2021. Some of the changes that were enacted under the Consolidated Appropriations Act, 2021 ("CAA") will soon end.
    United StatesInsolvency/Bankruptcy/Re-Structuring
    Miller, Canfield, Paddock and Stone P.L.C.
    Miller, Canfield, Paddock and Stone P.L.C.
  • Article

    Supreme Court Adopts Deferential Standard Of Review On Chapter 11 Insider Status

    In U.S. Capital Bank N.A. v. Village at Lakeridge, LLC, No. 15-1509 (U.S. Mar. 5, 2018), the U.S. Supreme Court held that an appellate court should apply a deferential standard of review...
    United StatesInsolvency/Bankruptcy/Re-Structuring
    Jones Day
    Jones Day
  • Article

    Supreme Court: "Inherited IRAs Not Protected From Creditors In Bankruptcy"

    The United States Supreme Court ruled that funds held in inherited IRAs do not fall within the meaning of the bankruptcy code’s exemption for "retirement funds".
    United StatesInsolvency/Bankruptcy/Re-Structuring
    Fox Rothschild LLP
    Fox Rothschild LLP
  • Article

    Supreme Court Rules That "Mere Retention" Of Property Does Not Violate Bankruptcy Code's Automatic Stay Provision

    On January 14, 2021, the U.S. Supreme Court unanimously held that the City of Chicago did not violate section 362(a)(3) of the Bankruptcy Code...
    United StatesInsolvency/Bankruptcy/Re-Structuring
    Reinhart, Boerner, Van Deuren SC
    Reinhart, Boerner, Van Deuren SC
  • Article

    Swift Energy Co., Shale Oil Driller, Files For Chapter 11 Bankruptcy In Delaware

    Swift Energy Co. ("Swift") has become the latest U.S. shale driller to file for Chapter 11 bankruptcy, filing a voluntary petition on December 31, 2015. Swift pumps oil in the Eagle Ford Shale in South Texas and in Louisiana fields.
    United StatesInsolvency/Bankruptcy/Re-Structuring
    Pierson Ferdinand LLP
    Pierson Ferdinand LLP
  • Article

    SynCardia Systems Files Chapter 11 Bankruptcy – First Day Hearing Scheduled July 6, 2016

    On July 1, 2016, SynCardia Systems, Inc. filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code before the United States Bankruptcy Court for the District of Delaware.
    United StatesInsolvency/Bankruptcy/Re-Structuring
    Pierson Ferdinand LLP
    Pierson Ferdinand LLP
  • Article

    The Automatic Stay: Supreme Court Finds That Retaining Debtors' Property, Despite Turnover Demands, Is Not A Stay Violation

    If a creditor is holding property of a party that files bankruptcy, is it "exercising control over" such property (and violating the automatic stay) by refusing the debtor's turnover demands?
    United StatesInsolvency/Bankruptcy/Re-Structuring
    Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.
    Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.
  • Article

    The U.S. Federal Judiciary

    U.S. federal courts have frequently been referred to as the "guardians of the Constitution."
    United StatesInsolvency/Bankruptcy/Re-Structuring
    Jones Day
    Jones Day
  • Article

    The U.S. Federal Judiciary

    U.S. federal courts have frequently been referred to as the "guardians of the Constitution." Under Article III of the Constitution, federal judges are appointed for life by the U.S. president with the approval of the Senate.
    United StatesInsolvency/Bankruptcy/Re-Structuring
    Jones Day
    Jones Day
  • Article

    The U.S. Trustee’s New Chapter 11 Fee Guidelines

    The Office of the United States Trustee, a unit of the U.S. Department of Justice assigned to oversee bankruptcy cases, issued new final guidelines on June 11 governing the payment of attorneys' fees and expenses in large chapter 11 cases—cases with $50 million or more in assets and $50 million or more in liabilities.
    United StatesInsolvency/Bankruptcy/Re-Structuring
    Jones Day
    Jones Day
  • Article

    Treatment Of Leases Under Sections 363(F) And 365(H) Of The Bankruptcy Code

    Ten years ago, in 2003, the Seventh Circuit issued its Qualitech decision, which sought to reconcile a perceived conflict between section 365(h) and section 363(f).
    United StatesInsolvency/Bankruptcy/Re-Structuring
    WilmerHale
    WilmerHale
  • Article

    Trustee’s Claims Not Barred By In Pari Delicto

    A federal bankruptcy court in New York has held that a trustee’s suit against the debtor’s professionals was not barred by the doctrine of in pari delicto.
    United StatesInsolvency/Bankruptcy/Re-Structuring
    Reed Smith
    Reed Smith
  • Article

    U.S. Supreme Court Deems Attorneys "Debt Relief Agencies," Limiting Certain Pre-Bankruptcy Advice They Can Give Clients and Requiring Additional Disclosures

    Almost five years after the enactment of the Bankruptcy Abuse and Consumer Protection Act, the Supreme Court recently ruled in Milavetz, Gallop & Milavetz, P.A., et al v. United States that attorneys are "debt relief agencies" who are limited in their ability to provide pre-bankruptcy planning advice to consumers and obligating them to provide additional disclosures in their advertisements.
    United StatesInsolvency/Bankruptcy/Re-Structuring
    Larkin Hoffman Daly & Lindgren
    Larkin Hoffman Daly & Lindgren
  • Article

    US Supreme Court Rules On Purdue Pharma Chapter 11 Plan: No Authorization For Release Of Nonconsensual Claims Against Third Parties

    In their article for the Journal of Bankruptcy Law titled "US Supreme Court Rules on Purdue Pharma Chapter 11 Plan: No Authorization for Release of Nonconsensual Claims Against Third Parties," ...
    United StatesInsolvency/Bankruptcy/Re-Structuring
    McDermott Will & Schulte
    McDermott Will & Schulte
  • Article

    When Bankruptcy And Crypto Collide – Bankruptcy Court Holds That Cryptocurrency Assets In Customer Accounts Constitute Assets Of The Bankruptcy Estate

    Notably, however, Judge Glenn remarked that customers may seek to rebut that presumption during the claims allowance process.
    United StatesInsolvency/Bankruptcy/Re-Structuring
    Falcon Rappaport & Berkman LLP
    Falcon Rappaport & Berkman LLP
  • Article

    Cadwalader Attorneys Review Supreme Court Ruling On Trademark Licensees' Rights

    The U.S. Supreme Court recently resolved whether, pursuant to Section 365 of the Bankruptcy Code, a debtor-licensor's rejection of a trademark license terminates rights of the licensee...
    United StatesIntellectual Property
    Hogan Lovells Cadwalader
    Hogan Lovells Cadwalader
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