The restructuring industry held its proverbial breath following the Supreme Court’s decision in Harrington v. Purdue Pharma L.P., which invalidated the nonconsensual third-party release in the debtors’ plan. While
Continue Reading New Jersey Bankruptcy Courts Remain a Strong Option for Debtors Seeking to Obtain a Third-Party Release in a post-Purdue Pharma World Following the BowFlex DecisionAre Gate-keeper Provisions in Chapter 11 Confirmation Orders a Stopgap for Nonconsensual Third-Party Releases?
As many bankruptcy practitioners are aware, there is a circuit court split with respect to the allowability of non-consensual third-party releases. Notably, in the Purdue Pharma case, the United States
Continue Reading Are Gate-keeper Provisions in Chapter 11 Confirmation Orders a Stopgap for Nonconsensual Third-Party Releases?In re The Hacienda Company, LLC – Round 2: Bankruptcy Courts May be Available to Non-Operating Cannabis Companies to Liquidate Assets
As discussed in our earlier blog post, In re The Hacienda Company, LLC – a Flicker of Hope for Distressed Cannabis Companies: Bankruptcy May be Available to Liquidate Assets of
Continue Reading In re The Hacienda Company, LLC – Round 2: Bankruptcy Courts May be Available to Non-Operating Cannabis Companies to Liquidate AssetsDelaware Bankruptcy Court Latest to Determine that Refund of Excess Quarterly US Trustee Fee Payments is Appropriate
The Fox Rothschild In Solvency blog previously covered the Supreme Court’s decision in Siegel v. Fitzgerald, 142 S. Ct. 1770 (2022), in which the 2017 amendment to 28 U.S.C.
Continue Reading Delaware Bankruptcy Court Latest to Determine that Refund of Excess Quarterly US Trustee Fee Payments is Appropriate
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 Companies
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 CompaniesDo Liquidating Trusts Have to Pay Quarterly US Trustee Fees?
In a 2021 opinion in In re Paragon Offshore PLC, 629 B.R. 227 (Bankr. D. Del. 2021) (“Paragon Offshore”), Judge Sontchi of the United States Bankruptcy Court for
Continue Reading Do Liquidating Trusts Have to Pay Quarterly US Trustee Fees?Duties of Claims Agents are Limited to the Scope of 28 U.S.C. § 156(c)
The Clerk of the Court (“Clerk”) is the “official custodian of the records and dockets of the bankruptcy court,” and when it appears that there will be a distribution to
Continue Reading Duties of Claims Agents are Limited to the Scope of 28 U.S.C. § 156(c)Fox Attorneys Take a Look at Supply Chain Issues
Among the potential prolonged impacts of the COVID-19 pandemic is the interruption to supply chains throughout several critical industries. As a result, prices have increased as various goods and materials
Continue Reading Fox Attorneys Take a Look at Supply Chain Issues
Court Rules that Litigation Trust Does Not Have to Pay Quarterly Fees to U.S. Trustee
Pursuant to 28 U.S.C. § 1930(a)(6), chapter 11 debtors must pay a quarterly fee to the United States Trustee for deposit in the United States Treasury, until the case is
Continue Reading Court Rules that Litigation Trust Does Not Have to Pay Quarterly Fees to U.S. Trustee
Second Circuit Stands by Brunner Test for Discharge of Student Loan Debt
When the Bankruptcy Code was first enacted in 1978, student loan debt could be discharged either after the passage of five years since the repayment obligation began, or if repayment
Continue Reading Second Circuit Stands by Brunner Test for Discharge of Student Loan Debt