News and information on bankruptcy and bankruptcy law
By Christine Simmons | June 7, 2017
White & Case is bulking up its restructuring practice, adding partners Philip Abelson from Proskauer Rose and David Turetsky from Skadden, Arps, Slate, Meagher & Flom, amid increasing work in cross-border restructuring and junior creditor representation.
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By Victoria Finkle | June 7, 2017
Compliance, class action defense and bankruptcy counsel are all in demand by an industry undergoing rapid change.
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By John J. Rapisardi and Joseph Zujkowski | June 7, 2017
In their Bankruptcy Practice column, John J. Rapisardi and Joseph Zujkowski write: At the end of last year, the Third Circuit added to several recent decisions addressing whether a creditor was entitled to payment of a "make whole" premium in connection with a Chapter 11 case. The opinion is the most creditor-friendly decision issued to date on this issue, as the court found that the refinancing of certain first and second lien notes after the Chapter 11 cases were commenced triggered payment of a "make whole" premium.
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By Brian Baxter | June 4, 2017
The firm's high-powered bankruptcy practice has picked up two more notable Chapter 11 cases. Kirkland & Ellis is serving as lead counsel to teen fashion retailer Rue21 Inc. and 21st Century Oncology Inc., as well as energy industry manufacturer AFGlobal Corp., in their recent bankruptcy filings.
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By B. Colby Hamilton | June 2, 2017
A investor with the convicted fraudster Bernard L. Madoff was turned back in his argument that the withdrawal and re-investment of $7 million shouldn't be subject to the clawback action being pursued by the Securities Investor Protection Act-appointed trustee Irving Picard in a partial summary judgment order handed down by Southern District Bankruptcy Judge Stuart M. Bernstein on Thursday.
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By Christine Simmons | June 2, 2017
New York midsize firm Otterbourg has added Keith Costa as a member in its restructuring and bankruptcy practice and Michael Wenger as counsel in its banking and finance practice.
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By P.J. D'Annunzio | June 1, 2017
In an issue of first impression, the U.S. Court of Appeals for the Third Circuit has ruled that the Bankruptcy Code permits judges to grant a grace period for debtors to make up payment shortfalls in their installment plans to pay off debts.
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By James Booth | May 22, 2017
Linklaters makes senior restructuring hire from Ropes to bolster London practice
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By Brian Baxter | May 21, 2017
The global legal giant is advising St. Louis-based manufacturer Katy Industries Inc. on its Chapter 11 filing this week, as well as the California-based subsidiary of a German search optimization company in its bankruptcy case, one that has DLA Piper owed more than $1 million in fees.
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By Brian Baxter | May 12, 2017
In the largest U.S. bank failure since 2010, New Orleans-based First NBC Bank Holding Co. filed for Chapter 11 protection in its home city Thursday. The bank, which went public in 2013, saw two top Am Law 100 firms listed among its 20 largest unsecured creditors.
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