Reuters interviews Representative Cheri Bustos with respect to a bill she proposed last week, which would prevent executives of bankrupt companies who make more than $250,000 per year from receiving bonuses...
CNBC discusses the Labor Department's latest report on the U.S. labor market. According to the report, a record 4.3 million workers left their jobs in August...
To determine whether parties share a common interest or whether the exchange of documents between two parties waives work-product protection, courts will evaluate whether the parties are adverse.
On October 10, 2021, Judge Colleen McMahon of the U.S. District Court for the Southern District of New York entered a temporary restraining order, delaying implementation of Purdue Pharma's plan...
Barry Klayman and Mark Felger, writing in the Delaware Business Court Insider, review a recent decision by Vice Chancellor Slights of the Court of Chancery dismissing a claim that...
Sheppard Mullin Richter & Hampton
Most restructuring professionals will tell you that there is no "typical" restructuring. That is absolutely true.
Reinhart Boerner Van Deuren s.c.
Shopko… Briggs & Stratton… Appvion (formerly Appleton Papers)… Harnischfeger… Bon-Ton… JHT Holdings… Arandell… Golden Guernsey Dairy. We tend to think of these companies as our own—Wisconsin-based...
According to Bloomberg's U.S. Bankruptcy Tracker, the amount of distressed bonds and loans traded in U.S. markets had the biggest weekly boost of this year.
In a somewhat unexpected development given his recent appointment to a second 14-year term a mere 5 years ago, Bankruptcy Judge Robert D. Drain of the U.S. Bankruptcy Court for the Southern District of New York...
The parties ultimately entered into a settlement that, if approved by the bankruptcy court, would result in the bidder receiving $4 million.
Bryan Cave Leighton Paisner LLP
As of May 2021, approximately 45 million Americans owe more than $1.7 trillion in student loan debt. For the arithmetically challenged, that means the average borrower has $38,000 in student loan debt.
Snell & Wilmer
The Paycheck Protection Program ("PPP") was a forgivable loan program administered by the US Small Business Administration...
Bloomberg Law discusses pending petitions for certiorari seeking the U.S. Supreme Court's review of lower courts'
On September 1, 2021, Judge Robert Drain issued a much-anticipated oral ruling approving Purdue Pharma L.P.'s plan of reorganization.
Arnold & Porter
The United States Court of Appeals for the Second Circuit (Second Circuit) issued another decision in the Tribune Company Fraudulent Transfer Litigation on August 20, 2021...
Herrick, Feinstein LLP
The US Attorney sought a prison term of 17.5-22 years for Tuzman.
Arnold & Porter
The US Court of Appeals for the Second Circuit recently ruled in favor of a private student loan borrower and found that his loans were discharged without his meeting the undue hardship...
A secured creditor's right to "credit bid" the amount of its allowed claim in a bankruptcy sale of its collateral is an important creditor protection codified in section 363(k) of the Bankruptcy Code.
In In re Figueroa Mountain Brewing, LLC, 2021 WL 2787880 (Bankr. C.D. Cal. July 2, 2021), the court denied a secured lender the right to credit bid its disputed claim...
Whether a contract is "executory" such that it can be assumed, rejected, or assigned in bankruptcy is a question infrequently addressed by the circuit courts of appeals.