Last week, the Trump administration and Congress proposed spending cuts that if enacted are likely to affect federally funded health insurance programs such as Medicaid and the Affordable Care Act
Continue Reading Trump Administration’s Proposed Health Care Cuts Pose Risks to Distressed ProvidersThe 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 DecisionIt has been approximately two months since the highly anticipated Supreme Court decision in Harrington v. Purdue Pharma L.P., and it is already making a significant impact in bankruptcies
Continue Reading The Impact of Purdue PharmaPursuant to the New Jersey Bankruptcy Court’s (the “Court”) annual rule making cycle, the Court implemented various changes to the New Jersey Local Rules and Local Forms, which became effective
Continue Reading New Jersey Releases New Chapter 11 Complex Procedures and Other Rule UpdatesAs previously discussed and anticipated in prior blog posts,[1] the United States Supreme Court’s decision in Siegel v. Fitzgerald, 596 U.S. 464, 142 S.Ct. 1770, 213 L.Ed.2d 39
Continue Reading The Circuit City Landmine Redux, the Final Word (Office of the United States Trustee v. John Q. Hammons Fall 2006, LLC): Supreme Court Holds that Chapter 11 Debtors Do Not Get a Refund on U.S. Trustee Quarterly Fees Under Unconstitutional Fee IncreaseKaiser Gypsum Company Inc. and Hanson Permanente Cement, Inc. (collectively, the “Debtors”), manufacturers of asbestos-containing cement products, filed for chapter 11 bankruptcy on September 30, 2016 (“Petition Date”) in the
Continue Reading Who’s a Party in Interest? The Supreme Court’s Ruling in Truck Insurance Exchange v. Kaiser Gypsum Co. Inc. Opens the Door for Insurers to Intervene in Certain Bankruptcy ProceedingsRight now, a business with less than $7.5 million in debt can file an easier, cheaper, and more efficient bankruptcy than a traditional Chapter 11. That privilege will soon be
Continue Reading The More Things Change, the More They Stay the Same? Survival of Small Businesses Again Dependent on Action From Congressby Magdalena Schardt
For some folks the three letters ABC are a reminder of elementary school and singing a song to learn the alphabet. For others, it is a throw
Continue Reading Assignments for the Benefit of Creditors – an often-overlooked state law alternative to Chapter 7 bankruptcyIf you were a party to a lawsuit or a contested matter in a bankruptcy proceeding, would you be interested in working towards settlement with the assistance of an impartial
Continue Reading Mediation in Bankruptcy: A GlimpseAs 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?