Searching Content indexed under Insolvency/Bankruptcy by McDermott Will & Emery ordered by Published Date Descending.
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Burden Is On Trustee To Show Insolvency At Time Of Transfer
The US Court of Appeals for the 11th Circuit affirmed the district court's dismissal of a fraudulent conveyance claim for a "blocking right"and right of first refusal under a patent transfer agreement
United States
4 Dec 2018
New Decision Affects D&O Liability
The case involved claims of negligence and breach of fiduciary duty by members of the board and management team of a not-for-profit hospital, filed by the hospital's liquidating trust.
United States
29 Aug 2018
Brexit And The UK Insolvency Regime
The UK financial sector thrives on confidence, underpinned by a well-developed and respected legal system. Brexit has knocked global confidence in the UK market, but businesses can still rely on the predictability of the English law system.
13 Dec 2017
Bankruptcy Courts Fail To Enlighten On Electricity As Goods Or Services
Is electricity goods or services? That seemingly simple yet confounding question is illustrated by three recent bankruptcy cases.
United States
24 Oct 2014
Ninth Circuit Affirms Plaintiff’s Lack Of Standing For Failure To List Copyright As Bankruptcy Asset
The Ninth Circuit affirmed a grant of summary judgment in favor of the defendants in a copyright suit on the grounds that the plaintiff lacked standing.
United States
10 Jun 2014
Inside M&A - Summer 2013
Inside M&A - Summer 2013
United States
26 Jul 2013
Using The Bankruptcy Code 'Safe Harbors'
Chapter 11 bankruptcy cases can be both fraught with peril and rich in opportunity.
United States
22 Jul 2013
U.S. Supreme Court Enforces Secured Creditor’s Right To Credit Bid
The Supreme Court of the United States issued a landmark decision protecting a secured creditor's right to credit bid when a debtor tries to sell its property free and clear of its liens.
United States
9 Jun 2012
The Top Five Traps In Distressed M&A Transactions
As a result of the contraction of the capital markets, it has become increasingly difficult for distressed corporate borrowers to refinance their existing debt facilities, recapitalize their businesses or even obtain the debtor-in-possession financing necessary to reorganize through bankruptcy.
United States
10 Oct 2011
Third Circuit Holds That A Portion Of Post-Petition Withdrawal Liability In Bankruptcy Is Entitled To Priority Over General Unsecured Claims
Recently, the Third Circuit held that withdrawal liability triggered after a bankruptcy filing date may be apportioned to pre- and post-petition service for the debtor, and that the withdrawal liability attributable to post-petition service may be entitled to priority over general unsecured claims under the Bankruptcy Code.
United States
9 Oct 2011
California Court Clarifies Directors' Duties When A Corporation Is Insolvent Or In The Zone Of Insolvency
On October 29, 2009, the California Court of Appeal, Sixth District, in Berg & Berg Enterprises, LLC v. Boyle, et al., unequivocally ruled that, under California law, directors of either an insolvent corporation or a corporation in the more elusively defined "zone of insolvency" do not owe a fiduciary duty of care or loyalty to creditors.
United States
2 Mar 2010
In Re Philadelphia Newspapers: Potential Ramifications For Secured Lenders In Debt Restructurings
The Eastern District of Pennsylvania held that secured creditors do not have a right to credit bid their claim when the sale of a debtor's assets is conducted under a plan of reorganization.
United States
8 Dec 2009
In Re TOUSA, Inc.: Implications For Solvency Opinion Providers
The bankruptcy court's opinion exemplifies the second guessing that can confront solvency opinion providers and highlights issues that providers should carefully vet with experienced legal counsel
United States
4 Nov 2009
Second Circuit Reverses Bankruptcy Court´s Decision On PBGC Termination Premiums
Companies that terminate pension plans before filing for bankruptcy may no longer escape paying significant claims to the PBGC.
United States
23 Apr 2009
Bankruptcy Court: Parties May Not Contract Around Mutuality Requirement To Circumvent Prohibition Against Triangular Setoffs
The decision in In re SemCrude, L.P., et al. prohibiting parties from contracting around Bankruptcy Code section 553's mutuality requirement may disrupt customary business practices, including those widely used in the energy, natural gas and crude oil markets, because it rules that contracting for cross affiliate netting does not "create" the mutuality required for setoff.
United States
28 Jan 2009
Dealing With Financially Distressed Purchasers Of Goods
Sellers should be proactive in taking steps to protect themselves from a distressed buyers non-payment.
United States
26 Nov 2008
Ability To Restrict Dissolution Filings Upheld Under Delaware LLC Act
The court's decision in R&R Capital LLC indicates that sponsors of limited liability companies that feature in securitization transactions may wish to include restrictions on the ability to put such companies into bankruptcy.
United States
3 Oct 2008
Separation Of Enforcement From Ownership Leaves No Leg To Stand On
In a case involving a bankruptcy reorganization in which a trustee in bankruptcy was given the right to pursue claims of misappropriation or infringement (but not ownership of the bankrupt’s intellectual property), the U.S. Court of Appeals for the Federal Circuit reversed the district court finding that the no trustee had standing to bring suit.
United States
31 Oct 2007
NAESB Contract Not Protected By Bankruptcy Code Safe Harbor Provisions
The decision of the U.S. Bankruptcy Court in Hutson v. Smithfield Packing Co. (In re National Gas Distributors, LLC)1 poses potentially serious problems for parties trading gas under the North American Energy Standards Board (NAESB) base contract.
United States
10 Oct 2007
Bankruptcy Court Recommends Confirmation Of NARCO And GIT Chapter 11 Plans
Decision determines that silica trust and channeling injunction are appropriate under Third Circuit standards.
United States
10 Oct 2007
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