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, LLC, BAP No. NV-21-1125-LTF (Apr. 5, 2022), which provides a framework for addressing whether a non-bankruptcy court’s postpetition order on a pending matter violates
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 Code (the “Bankruptcy Code”) does not define “value” or determine precisely when to value a secured creditor’s collateral, section 506(a) of the Bankruptcy Code provides
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. 15, 2021), the Third Circuit addressed the question whether an initial bidder whose break-up fee was disallowed could receive a portion of its costs as
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. This article outlines some of the most important duties of a Subchapter V trustee and the trustee’s ability to retain counsel and other restructuring professionals.
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 non-bankruptcy law. 11 U.S.C. § 510(a). However, Section 1129(b)(1) of the Bankruptcy Code permits a Chapter 11 plan to be confirmed subject to certain requirements
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 where legalization of cannabis was on the 2020 ballot, makes it more likely that Congress will pass legislation to decriminalize the manufacture, sale and distribution