Education & Information About Restructuring & Insolvency

PUBLIC NOTICE OF BANKRUPTCY SALE: Precision Machining Companies in Elk Grove, IL

October 13, 2017

DSI OFFERS SALE OF ADVANCED PRECISION MANUFACTURING, INC. AND ADK ARMS, INC.   1. Background:  The United States Bankruptcy Court Northern District of Illinois Eastern Division (“Court”) has ordered that Development Specialists,...

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What’s the Difference Anyway? Oil and Gas Business Valuation Differentiated

October 9, 2017

  Even for professionals who are well versed in business valuation theories and approaches, valuations in the oil and gas industry offers challenging issues.  This article provides a quick review of general valuation approaches and...

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PUBLIC NOTICE OF SALE: Bankruptcy Sale of Real Estate in Chicago, IL

October 2, 2017


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Best Bankruptcy Blogs

FDIC Administrative Law Judges Likely Unconstitutional

September 11, 2017

An appeals court holding, and pending U.S. Supreme Court case, could up-end FDIC enforcement procedures.  One of the interesting recent themes in Game of Thrones is the basis for power.  In these United States, the power of judges originally comes from the United States Constitution.  And, it turns out; if you don’t follow the rules of the Constitution your Court might not actually have any power. Credit: Game of Thrones....

American Apparel Preference Actions Filed in Delaware Bankruptcy Court

October 18, 2017

Earlier this month, APP Winddown, LLC (formerly known as American Apparel, LLC) and its chapter 11 affiliates (the “Debtors”) filed approximately 201 complaints seeking the avoidance and recovery of allegedly preferential and/or fraudulent transfers under Sections 547, 548, 549 and 550 of the Bankruptcy Code. The Debtors filed voluntary petitions for bankruptcy in the U.S. Bankruptcy Court for the District of Delaware on October 5,...

Academic Attempts to Revive the Corpse of Relative Priority

August 14, 2017

It being a rainy day and wishing to procrastinate some unappealing chores, I spent some time this afternoon looking to see whether the article I had published two years ago concerning the lack of statutory foundation for application of Till v SCS Credit Corp to chapter 11 reorganizations had been cited in the meantime. I know it was cited in the MPM Silicones  briefing to the Second Circuit (thank you counsel) but otherwise  I found...

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 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:...

The Cloak of Good Faith: Protecting Bankruptcy Sales from Appellate Review

July 10, 2017

Prashant Rai recently published an article on appellate review of section 363 sales in the April 2017 edition of the Norton Bankruptcy Law Adviser.  To access it, please click the link below: Posted with permission from Norton Bankruptcy Law Adviser, April 2017 issue.  Copyright (c) 2017 Thomson Reuters/West.  For more information about this publication, please visit...

Fees for Defending Fees – Recent Rulings Permit Contractual Circumvention of Supreme Court’s Baker Botts v. Asarco Decision

October 5, 2017

The Supreme Court two years ago ruled in Baker Botts v. Asarco that bankruptcy professionals entitled to compensation from a debtor’s bankruptcy estate had no statutory right to be compensated for time spent defending against objections to their fee applications.  Since then, “estate professionals,” i.e., those retained in a bankruptcy case by a trustee, debtor in possession or an official committee of creditors, have...

Recast EU Insolvency Regulation Comes into Force

June 29, 2017

  On 26 June 2017, the Recast EU Insolvency Regulation (Council Regulation (EC) No. 2015/848) came into force. It will apply to all relevant insolvency proceedings (although existing and ongoing proceedings will continue to be bound by the EU Insolvency Regulation (Council Regulation (EC) No. 1346/2000) (the “EIR”)). The Recast EU Insolvency Regulation will have direct effect in all EU member states (except Denmark).” The...

The Gender Gap Among Fancy Economists at the NBER Summer Institutes

October 17, 2017

The NBER summer institutes are where the fanciest economists go.  Anusha Chari and Paul Goldsmith-Pinkham have a cool new paper looking at the gender gaps in who gets on the schedule for the NBER summer institutes.  Here is their basic finding: Over the period of study (2001-2016), women made up 20.6 percent of all authors on scheduled papers. However, there was large dispersion across programs, with the share of female authors ranging...

New Delaware Chapter 11 Filing – Mac Acquisition LLC

October 18, 2017

Mac Acquisition LLC (dba Romano’s Macaroni Grill), along with eight affiliates and subsidiaries, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 17-12224).  According to the First Day Declaration, Mac enters Chapter 11 with a prepacked plan of reorganization and a Restructuring Support Agreement with two of its largest secured creditors.  Mac...

Split Ninth Circuit Refines Cramdown Valuation Rule

October 2, 2017

“Cramdown is messy …. Valuation in bankruptcy, in turn, is also messy. Courts are often placed in the position of assigning a monetary value to an asset for which there is either no seller or no buyer, and often no market.”[2] The...

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NAFER 2017 Annual Conference [Oct. 18-20]: Miami, and a Ponzi Schemer Speaks!

September 25, 2017

NAFER 2017 Annual Conference [Oct. 18-20]: Miami, and a Ponzi Schemer Speaks! Also One Substantive Panel After Another and  . . . MIAMI!   The National Association of Federal Equity Receivers will hold its Sixth Annual Conference in Miami,...

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A Primer on the Chief Restructuring Officer (CRO)

September 11, 2017

  A Brief History of the Chief Restructuring Officer The role of a Chief Restructuring Officer (“CRO”) is approximately four decades old.  While still a somewhat new role in the 1990s, CROs are now ubiquitous in the...

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