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Bankruptcy Updates

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Goulston & Storrs PC

Rethinking Liability Management in Club Deals and Direct Lending: Lessons from the Fifth Circuit’s Serta Ruling and Beyond

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On December 31, 2024, the Fifth Circuit Court of Appeals (the “Court”) struck down the controversial 2020 “uptier transaction” executed by Serta Simmons Bedding (“Serta”). The Serta case and several other state court and...more

King & Spalding

Comparative Overview of Saudi and US Bankruptcy Laws

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Saudi Arabia's bankruptcy framework has undergone significant modernization in recent years, drawing heavily from the US Bankruptcy Code while incorporating unique features tailored to the Kingdom's regulatory and business...more

Seward & Kissel LLP

Private Eyes, Keeping up with the Joneses, and Lone Wolf?

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Regeneron declines to make higher bid for 23andMe after Wojcicki's $305 million offer | Reuters - 23andMe founder Anne Wojcicki’s bid, submitted through a nonprofit she controls, remains unchallenged, setting her up to...more

Goldberg Segalla

Debtor’s Injunction Language to Bar Future Claimants with Latent Injuries Deemed Unenforceable on Appeal

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Court: United States Bankruptcy Appellate Panel for the Ninth Circuit - Debtor Ben Nye Co. Inc., a manufacturer and distributer of theatrical makeup, filed for subchapter V bankruptcy in March 2024. Its proposed bar date...more

Troutman Amin LLP

TCPA DEBT CAN’T BE DISCHARGED IN BK?: Court Rejects Diana Mey’s Effort to Deem TCPA Judgment Non-Dischargeable In Bankruptcy–But...

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One of the most unfair rules in American jurisprudence is the one holding individuals personally liable under the TCPA for actions they take as part of their employment. In almost every setting in the law if you do something...more

Hinshaw & Culbertson - Insights for Insurers

Allocation of Losses in Complex Insurance Coverage Claims

Allocation is a fundamental issue impacting every society and transcending virtually every major sector and function within a society. Economists sometimes describe this concept as society's allocation of its resources...more

Greenberg Glusker LLP

United States v. Miller: U.S. Supreme Court Narrows the Scope of Sovereign Immunity Abrogation Under Section 106(a)

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The United States Supreme Court has held that the sovereign immunity waiver in Section 106(a) of the Bankruptcy Code does not extend to state law claims “nested” within a Section 544(b) claim for relief, depriving bankruptcy...more

Greenberg Glusker LLP

Vegan Chain Planta Seeks Relief Through Reorganization

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The recent Chapter 11 bankruptcy filing by Planta, a well-known vegan restaurant chain, reflects the mounting financial challenges facing the restaurant sector, particularly for specialty and plant-based establishments. While...more

Proskauer - The Capital Commitment

Regulatory Scrutiny on Potential MNPI in the Credit Markets

Over the past year, regulatory scrutiny of the credit markets has intensified, with the SEC investigating the potential use of material nonpublic information (“MNPI”) relating to credit instruments. The SEC brought a number...more

Cooley LLP

Are You in This Party? The Scope of Section 213 of the Insolvency Act 1986

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The UK Supreme Court recently handed down a judgment in Tradition Financial Services Ltd v Bilta (UK) Ltd & Others in which it considered the scope of section 213 of the Insolvency Act 1986, specifically whether those beyond...more

Stradling Yocca Carlson & Rauth

California Business Divorce: Partner Fraud and Personal Liability: Important Lessons from Bartenwerfer v. Buckley

The Story Behind the Case - Kate and David Bartenwerfer started their business with a straightforward plan. The couple decided to renovate and sell a house they jointly owned in San Francisco....more

Seward & Kissel LLP

Always Sunny, No Silver Lining, and Err Supply

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Sunnova files for bankruptcy on residential solar woes | Reuters - On Sunday, June 12, the residential solar panel installer announced that it had filed for Chapter 11 bankruptcy, making it the second company of its kind...more

Eversheds Sutherland (US) LLP

Preference pitfalls for Merchant Cash Advances—Lessons from the Southern District of New York

Merchant cash advance (MCA) funding provides a quick, “non loan” alternative for small businesses desiring to access additional capital, and its use has become prevalent in the last decade. Given the speed at which MCA...more

Cozen O'Connor

Bipartisan AGs Sue to Stop 23andMe’s Sale of Consumers’ Genetic Data

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A bipartisan coalition of 28 AGs have filed a lawsuit against 23andMe Holding Co. and 23andMe, Inc. (collectively “23andMe”) to protect human genetic data collected by the company from being sold without consumers’ consent as...more

Cranfill Sumner LLP

NC Court of Appeals Denies Motion to Add Self-Insurance Association in Asbestos Exposure Case

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In a published decision with a dissent, the NC Court of Appeals denied the Plaintiff’s motion to add North Carolina Self-Insurance Security Association as a party to the claim....more

Lathrop GPM

Bankruptcy Court Refuses to Enforce Pre-Petition Waiver of the Automatic Stay

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A recent decision by the U.S. Bankruptcy Court for the Southern District of Illinois underscores that creditors must exercise caution in relying on pre-petition waivers of the automatic stay in collection actions. ...more

Morgan Lewis

Singapore High Court Allows Creditor’s Challenge Against Liquidator's Admission of Another Creditor's Proof of Debt

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In the recent case of Park Hotel Group Management Pte Ltd v Aw Eng Hai (in his capacity as a joint and several liquidator of Park Hotel CQ Pte Ltd (in liquidation) and others [2025] SGHC 97, the General Division of the High...more

Akin Gump Strauss Hauer & Feld LLP

Case Comment: Petrofac Restructuring Plans

The Petrofac group, a leading international service provider to the energy and infrastructure industries, has successfully obtained an order sanctioning two inter-conditional restructuring plans (Plans). We explore here the...more

Conyers

The Effect of Irregularities on the Validity of a Creditors’ Meeting

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The courts are generally reluctant to interfere with the outcomes of creditors’ meetings at which resolutions are voted on and passed. After all, such resolutions are decided and voted on by the creditors, thereby...more

Cadwalader, Wickersham & Taft LLP

From Big Ben to the Big Apple, June 2025 - Westminster Meets Wall Street: U.S. Law Considerations in English Law Facilities...

Fund finance is and always has been by nature a cross border enterprise. While there are a number of lenders that we represent in the United States that lend to funds exclusively organized in the U.S.– typically in Delaware –...more

Lathrop GPM

In Case You Missed It - Our 2025 State of Litigation Recap

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The May 14, 2025 State of Litigation event, sponsored annually by Lathrop GPM, brought together a dynamic mix of legal minds, business leaders and policy experts to unpack the most critical developments shaping the current...more

Conyers

The Importance of Collaborative Legal Strategy: China Medonline Inc.’s Withdrawal of Winding Up Petition and Sale of Material...

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Conyers’ litigation and corporate teams were recently pleased to assist China Medonline Inc. (the “Company“) in relation to the withdrawal of a winding-up petition against the Company in the Cayman Islands Grand Court, and in...more

Troutman Pepper Locke

What Is the Life Cycle of a Chapter 11 Bankruptcy Case and Why Do Stakeholders Need to Pay Attention to the Bankruptcy Case? (Part...

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A Chapter 11 bankruptcy is often called “reorganization bankruptcy” and is typically used to preserve and maximize the going concern value of the debtor’s business. The life cycle of a Chapter 11 bankruptcy case can be...more

Harris Beach Murtha PLLC

Lender Considerations in Deed-in-Lieu Transactions

When a commercial mortgage lender sets out to enforce a mortgage loan following a borrower default, a key goal is to identify the most expeditious manner in which the lender can obtain control and possession of the underlying...more

Nelson Mullins Riley & Scarborough LLP

Bankruptcy Refresher: What Business Leaders Should Know as Corporate Filings Increase

As economic pressures mount—higher interest rates, tighter credit, rising labor and material costs—experts warn of a potential surge in corporate bankruptcies. Bankruptcy filings through the first quarter of 2025 are already...more

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