Education & Information About Restructuring & Insolvency


The “Absolute Priority Rule” and Other “Rules” of “Priority” in Bankruptcy:

August 22, 2017

Are They Really “Absolute,” Are They Really “Rules,” and Do They Always Provide “Priority” to Some Claimants Over Others? At its core, corporate bankruptcy addresses the problem of the “inadequate...

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When Are Goods “Received by the Debtor” for a Section 503(b)(9) Claim?

August 7, 2017

Two important decisions by the Third Circuit Court of Appeals and the Delaware Bankruptcy Court shed light on goods in receipt of debtors in Section 503(b)(9) claims. The post When Are Goods “Received by the Debtor” for a Section...

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PUBLIC NOTICE OF DEBTOR’S PROPOSED SALE: Of Real Property In Richmond Hill, New York

August 7, 2017

NOTICE OF DEBTOR’S PROPOSED SALE OF REAL PROPERTY IN RICHMOND HILL, NEW YORK   Hillside Lofts LLC, the Chapter 11 Debtor in Case. No. 17-41936 and represented by M. David Graubard, Esq., announces its intent to sell its real property....

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Best Bankruptcy Blogs

Bitcoin: Everyone is Talking Blockchain and its Not too Late to Get on the Band Wagon

July 17, 2017

Bitcoin first came into public existence in 2008 with the first coins “mined” by a person/group named Satoshi Nakamoto.  As you are probably aware, Bitcoin is a method of transferring value electronically and without the need for any money issued by a sovereign entity. The first thing to know about Bitcoin is that it is totally decentralized.  There is no master server and no bank vault with anything tangible in it. ...

Preferences Actions Filed in Univita Holdings LLC Bankruptcy Case

July 31, 2017

On July 19-21, 2017, David W. Carickhoff, in his capacity as Chapter 7 Trustee of the Estates of Univita Holdings, et al., filed approximately 46 complaints seeking the avoidance and recovery of allegedly preferential and/or fraudulent transfers under Sections 547 and 550 of the Bankruptcy Code. Univita Health, Inc. and its affiliated debtors filed voluntary petitions for bankruptcy in the U.S. Bankruptcy Court for the District of Delaware...

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 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:...

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:https://www.weil.com/~/media/files/pdfs/2017/nbla_april_2017.pdf 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...

Could Supreme Court Case on Debt Recharacterization Provide a Pathway Out of the Stern v. Marshall Maze?

July 20, 2017

The Supreme Court recently granted certiorari in PEM Entities LLC v. Levin, in which it will decide whether federal or a state law should apply when a debt claim held by a debtor’s insider is sought to be recharacterized in bankruptcy as a capital contribution and treated as equity.  The case raises important questions about the extent to which the commencement of a proceeding under the U.S. Bankruptcy Code can and should affect...

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...

Academic News

August 22, 2017

The second edition of my Corporate Finance textbook is now available at finer booksellers, and Amazon too.  The companion website has also been updated – professors can get the password from their Aspen reps.

New Delaware Chapter 11 Filing – USAE, LLC

August 22, 2017

USAE, LLC, f/k/a U.S. Aerospace LLC, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Case No. 17-11778).  Based in Wilmington, DE, USAE produces aircraft assemblies, structural components and highly engineered, precision machined details for the U.S. Government, U.S. Airforce and companies such as Lockheed Martin and Boeing.  In the First Day Declaration, USAE cites limited...



PUBLIC NOTICE OF RECEIVERSHIP SALE: 4,368 SF Office Building Built in 1983 for Sale in Orlando Florida

July 31, 2017

Patrick Cavanaugh, OVERALL RECEIVER announces sale of 7411 INTERNATIONAL DRIVE PROPERTY in First Farmers Financial Litigation   1. Background:  Patrick Cavanaugh is Overall Receiver of the Overall Receivership Estate (“Overall...

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Dealing With Distress for Fun & Profit – Installment #17 – Overview (of DIP Financing and Cash Collateral Motions)

July 25, 2017

There is a seeming irony here in that a company that files for bankruptcy often does not have the cash to do so. That's where DIP financing comes in. The post Dealing With Distress for Fun & Profit – Installment #17 – Overview (of DIP...

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CHAPTER 15: A CONCISE OVERVIEW

July 10, 2017

By Hon. Melanie L. Cyganowski (Ret.)[1] Otterbourg P.C.   Like commerce in general, bankruptcies are not necessarily restricted by borders. A company that files for insolvency protection in the Caribbean, Europe or the Far East may also have...

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