Education & Information About Restructuring & Insolvency


May 21, 2018

NOTICE OF AUCTION OF THE ASSETS OF Penthouse™ 1. Overview of the Opportunity. Penthouse™ is the iconic men’s brand. Founded by Bob Guccione in 1965, Penthouse has been a leader in the Adult Entertainment Industry for over 50 years....

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PUBLIC NOTICE OF CHAPTER 11 SALE: Augustus Energy Resources, LLC

May 17, 2018

NOTICE OF SALE OF ALL OF SUBSTANTIALLY ALL OF THE DEBTOR’S ASSETS PLEASE TAKE FURTHER NOTICE THAT, on April 27, 2018, the United States Bankruptcy Court for the District of Delaware (the “Court”) entered the Order (A) Approving...

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Timing Is Everything: How to Make a Rough Assessment of Potential Preference Defenses (PART 2)

April 23, 2018

By Robert C. Maddox Editor’s Note: Part 1 of this article laid out the prima facie case a plaintiff needs to have in order to sue for a preference, outlined the major defenses and explained the importance and use of certain key documents in...

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Timing Is Everything: How to Make a Rough Assessment of Potential Preference Defenses (PART 1)

April 23, 2018

By Robert C. Maddox  Your company has just been served with a preference complaint. The complaint seeks to recover tens or hundreds of thousands of dollars even though your company already has taken a loss on the debtor’s accounts....

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Public Notice of UCC Article 9 Sale: Nu-World Amaranth, Inc.

April 16, 2018

NOTICE OF PUBLIC SALE OF COLLATERAL UNDER ILLINOIS UNIFORM COMMERCIAL CODE RE NU-WORLD AMARANTH, INC. 1. Summary: Pursuant to Section 5/9-610 of the Illinois Uniform Commercial Code (ILCS 5/9 § 9-610), and pursuant to a Promissory Note and...

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PUBLIC NOTICE OF SALE OF COLLATERAL: Monroe Capital Management Advisors, LLC

April 2, 2018

NOTICE OF PUBLIC SALE OF COLLATERAL DATE OF SALE: April 30, 2018 PLACE OF SALE: Foley & Lardner LLP 321 N. Clark Street, Suite 2800 Chicago, Illinois 60654 TIME OF SALE: 12:00 P.M. CDT NOTICE IS HEREBY GIVEN that the collateral described below...

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Steps to Attach and Perfect – The Mystery of Proper Collateralization

May 21, 2018

When making a secured loan, the process of making sure your collateral is actually – legally – your collateral can be more difficult than expected or later determined. The steps are fairly simple, but the analysis and execution can be lacking for a number of technical reasons which can render your first priority lien a junior lien or gone all together if you are not careful. Lord, P., Miller, C., Ferrell, W., Arnett, W., Banks, E.,...

Bertucci’s: Filing Alert & Committee Formation Meeting Notice

April 19, 2018

On her The Bottom Line 11 blog, Fox partner Mette Kurth discussed the recent bankruptcy filing of Italian restaurant chain owner and operator Bertucci’s Corporation: Company Overview Bertucci’s  was formerly known as NE Restaurant Company, Inc.  It changed its name to Bertucci’s Corporation in August 2001. Founded in 1981, the company is based in Northborough, MA.  Today Bertucci’s owns and...

Second Circuit Decision in Momentive: Half a Loaf is Better Than None, But Even the American HomePatient Approach Does Not Conform to the Fair and Equitable Standard

October 21, 2017

On Friday, the Second Circuit panel that heard the senior secured lenders’ appeal in MPM Silicones issued its opinion affirming the lower courts’ holdings in all but one respect, that being the interest rate applicable to a cramdown / cram-up of the senior secured claims under 11 U.S.C. § 1129(b)(2)(A)(I).  The court held that the lower courts’ application of the Till formula had been incorrect as a matter of...

Recent Developments in Practice: New York, Delaware and Singapore

June 2, 2017

This piece was originally published by the International Committee of the American Bankruptcy Institute (ABI).  For more information about the ABI, see http://www.abi.org/.Recent Developments in Practice: New York, Delaware and SingaporeTally M. WienerLaw Offices of Tally M. Wiener, Esq.; New YorkDate Created: Fri, 05/26/2017 - 11:17 2 Weeks before Hanjin Shipping sought protection from its creditors in Korea, I got an unexpected call:...

Usury Bites—A Refresher on an Easily Overlooked Issue in the Restructuring and Private Equity Arenas

April 23, 2018

For millennia usury (defined as any interest on a loan, not just interest above some prescribed rate) was condemned as immoral in almost every culture (and in some it still is). Even such great thinkers as Aristotle disapproved of the charging of interest, describing it as the “most unnatural” means of “getting wealth” because it “makes a gain out of money itself, and not from the natural object of it.”1 In the...

Supreme Court Displays More Pragmatic Approach to the Bankruptcy Code in Merit Management v. FTI Consulting

April 25, 2018

The Supreme Court’s recent decision in Merit Management Group, LP v. FTI Consulting, Inc. has appropriately drawn significant attention.  The Court, by narrowing the “safe harbor” provision of Section 546(e) of the Bankruptcy Code, has opened the door for representatives of bankruptcy estates to use the avoidance powers of the Bankruptcy Code to seek to unwind a wider range of pre-bankruptcy transactions and recover value...

Orrick Wins S.D.N.Y. Dismissal of Chapter 15 Appeal by Purported Shareholder on Standing and Equitable Mootness Grounds

April 16, 2018

In an April 6, 2018 memorandum opinion and order, U.S. District Judge John G. Koeltl dismissed an appeal challenging the Chapter 15 recognition of a Cayman Islands restructuring of an offshore drilling contractor, holding that the appellant lacked standing and that the appeal was equitably moot. See In re Ocean Rig UDW Inc., No. 17-cv-7222 (JGK), 2018 WL 1725223 (S.D.N.Y. Apr. 6, 2018). The appeal was brought by a purported shareholder of...

Call for Papers on College Completion and Student Debt

May 21, 2018

For those of you writing on student loans, you may be interested in a new call for papers for a conference I am working to organize. On November 30, 2018, the Rappaport Center for Law and Public Policy, Boston College Law School, and the National Consumer Law Center will hold a daylong symposium on Post-Secondary Education Non-completion and Student Loan Debt on the Law School...

Delaware Organizational Meeting – Arecont Vision Holdings, LLC

May 18, 2018

Upcoming Committee Formation Meeting:  Friday, May 25, 2018 10:00 AM Case Name: 18-11142 (CSS) Location: U.S. Trustee Office, 844 King Street, Suite 3209, Wilmington, DE 19801 Notice of Formation Meeting for Official Committee of Unsecured Creditors can be found here. See the petition for relief. Contact Norman L. Pernick and G. David Dean for more information.