Education & Information About Restructuring & Insolvency

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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DailyDAC is Proud to Sponsor the 12th Annual Credit & Bankruptcy Symposium

April 2, 2018

ABI, the Turnaround Management Association’s Connecticut Chapter, the Turnaround Management Association’s Northeast Chapter and the New York Institute of Credit are pleased to present the 12th Annual Credit & Bankruptcy Symposium at...

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March 19, 2018

KIRKLAND & ELLIS & PACHULSKI STANG ZIEHL & JONES ANNOUNCE NOTICE OF Combined hearing in the Chapter 11 bankruptcy cases of GST AUTOLEATHER, INC., et al to consider confirmation of the chapter 11 plan and adequacy of the disclosure...

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Long-Term Disruptive Trends: Installment #2 – Transportation Industry Trends

March 10, 2018

By:  Todd A. Zoha, CTP, CIRA[i] This article is the second in a series of articles discussing long-term disruptive trends and their impact on restructuring activity. Click here for the first installment in this series. INTRODUCTION The...

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NYIC and IFA Host Factoring Lunch on March 6th, 2018

February 26, 2018

The New York Institute of Credit (NYIC) and International Factoring Association (IFA) are hosting a joint factoring event on March 6th, 2018. The post NYIC and IFA Host Factoring Lunch on March 6th, 2018 appeared first on Commercial Bankruptcy...

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Non-Fiat Currency – What is its Legal Character?

April 9, 2018

In prior posts I have discussed what bit coin is, in terms of describing the technical aspects of the thing.  Bit coin is only one of numerous non-fiat currencies which currently exist, and seems to be the most common.  In this post I will not be focusing on the technical nature of non-fiat currencies, but rather consider what the character of a non-fiat currency is legally.  Stated more directly, is a bit coin legally a currency,...

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:...

U.S. Bank N.A. v. Village at Lakeridge, LLC

March 8, 2018

It’s been an interesting couple of weeks for bankruptcy at the United States Supreme Court with two bankruptcy-related decisions released in back-to-back weeks. Last week, the Supreme Court issued an important decision delineating the scope of section 546(e) of the Bankruptcy Code (discussed here [1] for those who missed it). Then again, this week, on March 5, 2018, the Supreme Court issued a somewhat strange (in the authors’...

A Patent Law Dispute Before the Supreme Court This Term Could Have a Major Impact on U.S. Bankruptcy Courts

January 9, 2018

The Supreme Court recently heard arguments in a patent dispute case, Oil States Energy Services, LLC v. Greene’s Energy Group, LLC.  Although the case has nothing to do with bankruptcy law, its outcome could have a substantial impact on bankruptcy practice and litigation. Oil States Energy concerns the limits of Congress’s ability to create courts pursuant to Article I of the Constitution rather than under Article III, and...

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...

Farewell to Signatures...

April 19, 2018

Here's what all of the commentary I've read has overlooked.  Signatures are utterly irrelevant to consumers except to the extent that the slow down the transaction. (Ok, they also require those germaphobes among us to touch a shared pen when we were doing just great with a contactless NFC transaction). The signature requirement has ZERO effect on consumer liability.  Federal law already limits consumer liability on unauthorized credit...

Delaware Organizational Meeting – Bertucci’s Holdings, Inc.

April 18, 2018

Upcoming Committee Formation Meeting:  Friday, April 27, 2018 10:00 AM Case Name: 18-10894 (MFW) Location: Delaware State Bar Association, 405 N. King Street, 2nd Floor, 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.