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A supplier to a potentially bankrupt retailer can mitigate losses by invoking the right to suspend delivery, demanding adequate assurance, and more.
Chapter 15 bankruptcy is a tool for foreign companies with assets in the United States to get assistance from a U.S. bankruptcy court.
Sellers and buyers must know the key elements of selling a distressed business outside of bankruptcy. Levels of protection vary on both sides.
It’s typical for secured lenders in a chapter 11 case to set aside a portion of the proceeds of its collateral to pay professional fees. Understand what you may need to know about carve-out fees.
Editors’ Note: DailyDAC makes occasional exceptions to its general policy of publishing only original content when its editors determine an article to be timely, excellent, and of great potential value to its their audience. This article, originally published by Schulte Roth & Zabel as a client alert on January 12th is such an article. We thank the firm for its permission to reprint it here. Judge Martin Glenn of the United States Bankruptcy Court for the Southern District of New York issued a ruling last month in the Celsius Network bankruptcy […]
Explore whether a debtor can file chapter 11 reorganization bankruptcy to evade a court-ordered receivership.
Applications for receiverships are becoming much more common as more states are adopting statutes that clearly outline how to conduct this process properly. Understand how these statutes function from state to state.
LLCs protect individuals from company liabilities, but a Chapter 7 Bankruptcy Trustee can reach assets to satisfy individual obligations.
Legal framework governing assumption, assignment, and rejection of executory contracts and unexpired leases in bankruptcy can be complicated.
It Depends on the Facts Debtors often use Chapter 11 bankruptcy for litigation advantages. Whether or not they succeed depends on the facts and circumstances of the individual bankruptcy case. The following sample case helps to illustrate how a court may rule. Case Study Catherine, Jules, and Jim founded and each owned one-third of a company. The company thrived initially, but as the company grew, the owners fell out, with Catherine on one side and Jules and Jim on the other. Lawsuits were filed. Using a provision of their state-specific […]