Cannabis clients are often surprised to learn that the bankruptcy courts are unavailable to liquidate or reorganize most cannabis businesses. Indeed, the Office of the United States Trustee (the “UST”)
Continue Reading In re The Hacienda Company, LLC – a Flicker of Hope for Distressed Cannabis Companies: Bankruptcy May be Available to Liquidate Assets of Non-Operating Cannabis CompaniesIn a recent decision by Chief Judge Martin Glenn of the United States Bankruptcy Court for the Southern District of New York presiding over cryptocurrency Chapter 11 megacase, In re
Continue Reading Cryptocurrency Deposits Do Not Belong to Account Holders: New York Bankruptcy Holding Severs Customers’ Right and Title to Crypto Assets Deposited in Celsius Network Earn Program Accounts
As discussed in our prior blog post entitled, “The Circuit City Landmine (Siegel v. Fitzgerald): Supremes Declare Bankruptcy Fee Hike Under United States Trustee Program Unconstitutional –What Happens Next?
Continue Reading The Aftermath of Siegel v. Fitzgerald: The Tenth Circuit Orders United States Trustee Program to Refund Chapter 11 Debtors’ Overpayment of United States Trustee Fees
By: Keith C. Owens
While it is becoming increasingly rare for the Supreme Court to speak with a singular voice on virtually anything these days, bankruptcy provides a rare exception.
Continue Reading The Circuit City Landmine (Siegel v. Fitzgerald): Supremes Declare Bankruptcy Fee Hike Under United States Trustee Program Unconstitutional –What Happens Next?By: Zach Williams, Associate, Fox Rothschild LLP (Las Vegas, NV)
On April 5, 2022, the Ninth Circuit Bankruptcy Appellate Panel (the “BAP”) published an opinion, Censo, LLC v. Newrez,
Continue Reading Is a Postpetition Non-bankruptcy Court Order a Violation of the Automatic Stay?: The Ninth Circuit Bankruptcy Appellate Panel Provides Clarity in Recent Holding
The Bankruptcy Code contemplates the valuation of a secured creditor’s collateral for a variety of purposes at different stages of a bankruptcy case. While title 11 of the United States
Continue Reading When values become stale: valuation of collateral in bankruptcy proceedings – In re S-Tek 1, LLC, a case study
By Michael L. Temin and Martha B. Chovanes
In an issue of first impression, in In re Energy Future Holdings Corp., 2021 U.S. App. LEXIS 7400 (3d Cir. Mar.
Continue Reading Payment to Stalking Horse Permissible When Sale Price Less than Stalking Horse Bid
Fox Rothschild Washington D.C. associate, Diana Lyn Curtis McGraw, published an article in TMA’s Journal of Corporate Renewal (April 2021) entitled “The Role of the Trustee in Chapter V Cases.
Continue Reading The Role of the Trustee in Subchapter V Cases by Diana McGraw – TMA Journal of Corporate Renewal (Apr. 2021)
Interplay Between Subordination Agreements and Chapter 11 Cramdown Plans
The Bankruptcy Code provides that subordination agreements are enforceable in bankruptcy to the same extent that such agreements are enforceable under
Continue Reading A New Standard for Chapter 11 Cramdown Plans – The Third Circuit Court of Appeal’s Refusal to Strictly Enforce Subordination Agreements in Non-Consensual Plans of Reorganization
As the pendulum of American politics has shifted once again, cannabis is back on the menu. The change in presidential administrations, along with sweeping approval by voters in those states
Continue Reading The Uncertain Future of Cannabis Bankruptcies and the 2020 Elections