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Dec 18, 2024 | 
jdsupra.com | Francis J. Lawall
This article was originally published in The Legal Intelligencer on December 13, 2024 and is republished here with permission. The lifeblood of any debtor operating in Chapter 11 is access to cash to maintain ongoing operations. This is particularly important in cases involving assisted living and skilled nursing facilities given the health, safety, and welfare concerns with respect to their residents.
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Aug 1, 2024 | 
lawjournalnewsletters.com | Francis J. Lawall |Tori Remington
BankruptcyLitigationUnited States Supreme CourtIn a recent decision, the U.S. Supreme Court held that the government was not required to refund millions of dollars paid by a Chapter 11 debtor pursuant to an unconstitutional fee scheme between the judicial districts. In a recent decision, the U.S. Supreme Court addressed the appropriate remedy for the prior discriminatory application of U.S. Trustee quarterly fees in Chapter 11 cases. See, Office of the United States Trustee v. John Q.
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Jul 29, 2024 | 
law.com | Francis J. Lawall |Tori Remington
In a recent decision, the U.S. Supreme Court addressed the appropriate remedy for the prior discriminatory application of U.S. Trustee quarterly fees in Chapter 11 cases. See Office of the United States Trustee v. John Q. Hammons Fall 2006, 144 S. Ct. 1588 (2024). In its ruling, the court held that the government was not required to refund millions of dollars paid by a Chapter 11 debtor pursuant to an unconstitutional fee scheme between the judicial districts.
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Apr 24, 2024 | 
feeds.feedblitz.com | Francis J. Lawall |Brenden Dahrouge |Amanda O'Brien |Lawrence J. Kotler
Embattled Philadelphia firm Sacks Weston agreed to put an end to its Chapter 11 proceedings on Wednesday, a month after creditor Virage Capital sought a dismissal on the grounds that the petition was filed in bad faith as a means to delay trial and forum shop in an ongoing dispute between the two parties.
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Mar 5, 2024 | 
feeds.feedblitz.com | Ellen Bardash |Francis J. Lawall |Brenden Dahrouge |Amanda Bronstad
With a newly formed committee saying it needs more time to get up to speed on the issue, Terraform will need to wait another week for a Delaware bankruptcy court ruling on whether it can continue funding its defense in a securities fraud trial.
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Mar 1, 2024 | 
lawjournalnewsletters.com | Francis J. Lawall |Brenden Dahrouge
BankruptcyCryptocurrencyRegulationThe Third Circuit recently held in 'In re FTX Trading' that the plain text of Section 1104(c)(2) mandates the appointment of an examiner under the specified conditions set forth. As a result, the FTX decision will carry significant implications for large and medium-sized bankruptcy cases.
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Feb 13, 2024 | 
feeds.feedblitz.com | Francis J. Lawall |Brenden Dahrouge |James Beck |David G. Mandelbaum
$100,000 Verdict Date of Verdict: Oct. 20. 2023. Want to continue reading? Become an ALM Digital Reader for Free! Benefits of a Digital Membership Free access to 1 article* every 30 days Access to the entire ALM network of websites Unlimited access to the ALM suite of newsletters Build custom alerts on any search topic of your choosing Search by a wide range of topics Already have an account? Sign In Now *May exclude premium content
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Feb 9, 2024 | 
feeds.feedblitz.com | Amanda O'Brien |Francis J. Lawall |Brenden Dahrouge |Aleeza Furman
Financial statements are one mechanism in which to provide insight into a company’s financial health. However, management may not be satisfied that this information clearly reflects their business, including how it is run. Therefore, to supplement financial statements, management may provide another view of their company by disclosing alternative financial measures. This alternative information cannot be used to distort reality and must be presented in accordance with specific rules and guidelines.
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Feb 9, 2024 | 
law.com | Francis J. Lawall |Brenden Dahrouge
Although Chapter 11 of the Bankruptcy Code allows existing management of a debtor to remain in control of its business, it imposes several oversight mechanisms to help ensure the integrity of the process. Two of the most common include the Office of the U.S. Trustee and an Official Committee of Unsecured Creditors. In addition, the code calls, under certain conditions, for the appointment of an independent examiner whose role can run from the very broad to extremely limited.
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Dec 1, 2023 | 
lawjournalnewsletters.com | Francis J. Lawall |Brenden Dahrouge
BankruptcyLitigationIn upholding the bankruptcy court’s determination that the payment of insurance proceeds could be such a transfer, the Fifth Circuit underscored the complex interplay between state law, bankruptcy law and the rights of creditors in bankruptcy proceedings. Section 547 of the Bankruptcy Code provides for the potential recovery of transfers of a debtor’s property occurring within 90 days of bankruptcy.
