Bankruptcy

Bankruptcy Articles

• Preserving Security Interests And Priority Status For Post-Confirmation Advances

  Does a lender's prepetition priority lien extend to post-confirmation advances where the confirmed plan does not expressly provide for the continuation of the lender's priority lien? This question was recently answered by a United States district ...

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• Protection, Tort and other Plaintiff Claims and Litigation Through Chapter 13 Bankruptcy

  Several months ago I wrote an article summarizing the status of bankruptcy law since institution of the BAPCPA "Reform" Legislation which became effective last October 7, 2005, (the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 ...

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• Prepetition Considerations for the Prospective Retail Debtor

  This article is directed towards the non-bankruptcy practitioner who may be advising a financially troubled retailer. For the bankruptcy specialist, the matters discussed in this article are self-evident and confronted on a daily basis. However, for ...

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• Pre-Petition Waivers of the Automatic Stay

  As all lenders know, the filing of a bankruptcy petition operates as an automatic stay against further collection efforts. The scope of the automatic stay, as established by Section 362 of the Bankruptcy Code, is comprehensive. Not only is the ...

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• SEC Adopts Final Rules for Disclosure of Off-Balance Sheet Arrangements and Aggregate Contractual Obligations

  On January 22, the Securities and Exchange Commission (the "SEC") adopted rules under Section 401(a) of the Sarbanes-Oxley Act of 2002 (the "Act") for mandatory disclosure in Management's Discussion and Analysis of Financial Conditions and Results ...

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• New Development Regarding the Treatment of Hotel Revenues in Bankruptcy

  A hotel generates revenues from providing lodging, food and drink and many services to hotel guests. When the hotel owner goes into bankruptcy, the lender who claims to have a lien on the hotel typically argues that all of the hotel revenues are the ...

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• Debtor Liable for Obligations Excluded from Assignment Of Collective Bargaining Agreement

  A chapter 11 debtor in possession can assign a collective bargaining agreement (CBA) and free itself of all liabilities under that CBA, provided it has assigned all obligations under the agreement to the assignee. However, a debtor cannot free ...

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• Court Denial of Request For Adequate Protection Does Not Trigger Superpriority Status

  The United States District Court for the Southern District of New York recently held that when a court denies a creditor's motion for stay relief or adequate protection because the creditor is protected by an "equity cushion," the mere denial of ...

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• SEC Adopts Final Rules for the Use of Non-GAAP Financial Measures and the Furnishing of Earnings Releases on Form 8-K

  The Securities and Exchange Commission (the "SEC") adopted rules on January 15, 2002 (the "Final Rules")fn1 addressing the disclosure of financial information that is prepared other than in accordance with generally accepted accounting principles ...

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• Postponement of Sheriff’s Sale In Compliance with State Law Does Not Violate Automatic Stay

  In Taylor v. Slick, the United States Court of Appeals for the Third Circuit held that the postponement (or "continuation") of a sheriff's sale in accordance with state law procedure does not violate the automatic stay imposed under section 362(a ...

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