In proceedings arising out of the Tribune Company chapter 11 bankruptcy and a decision in which the United States Court of Appeals for the Second Circuit sustained the dismissal of billions of dollars in alleged fraudulent transfer claims related to a failed leveraged buyout transaction (LBO), the U.S. Supreme Court has requested input from the
In an appeal arising out of a Ponzi scheme by the principals of two entities, the receiver sought to recover funds from a bank allegedly diverted as fraudulent transfers under the Florida Uniform Fraudulent Transfer Act (the “FUFTA”) and to collect damages for alleged aiding and abetting of other torts. See Isaiah v. JPMorgan Chase
Earlier this week, the United States Supreme Court issued an opinion regarding appeals of orders denying relief from the automatic stay. Generally, the automatic stay (section 362 of the Bankruptcy Code) prevents creditors from taking action against the debtor’s assets outside the bankruptcy process. In order to continue debt collection efforts, creditors can file a
iPic-Gold Class Entertainment, Inc. (IPIC) has filed a Chapter 11 case in Delaware to sell its business through a “363” bankruptcy auction.
iPic is a Florida-based, publicly traded movie theater and restaurant company with 16 locations in 9 states that provide a “luxurious movie-going experience at an affordable price.” After achieving double-digit growth supported by
NovaSom, Inc. has filed a Chapter 11 case in Delaware in order to sell its business through a “363” bankruptcy auction. We are providing you with information about the case that you can forward on if you have clients who may be interested in purchasing any of NovaSom’s assets.
NovaSom is a Maryland-based home sleep
Stephanie Slater writes:
The United States Supreme Court granted certiorari to determine the applicable legal standard for holding a creditor in civil contempt when a creditor attempts to collect a debt that falls within an issued bankruptcy discharge order. In Taggart v. Lorenzen, 139 S.Ct. 1795 (2019), the Court unanimously decided to adopt an “objective
This article is written by Elizabeth A. Patton and originally appeared on the Fox Advertising Law blog, https://advertisinglaw.foxrothschild.com
This week, the U.S. Supreme Court issued a decision in the Product Holdings, Inc. v. Tempnology, LLC N/K/A Old Cold LLC case previously blogged about here and here. The issue in that case was whether, when
At the end of last week, Sinemia, a movie ticket subscription service, filed a Chapter 7 bankruptcy petition in Delaware, amidst multiple lawsuits and an investigation by the FTC. The company, which permitted users to purchase monthly or yearly plans for movie passes, ended its operations effective immediately on Thursday, as announced on the company
In October of this year, Sears Holdings Corp and affiliated Debtors filed a Chapter 11 case in the U.S. Bankruptcy Court for the Southern District of New York in a case pending before Judge Drain. Since that time, the company has been reducing its debt and its physical footprint by closing stores. After the bankruptcy
Additional developments have transpired in the the Imerys Talc bankruptcy proceedings since Imerys commenced an adversary proceeding in the Chapter 11 case against Cyprus Mines Corp. and Cyprus Amax Minerals Co. earlier this month over Cyprus’ right to use certain insurance policies in the defense of talc-related asbestos lawsuits.
On March 20, 2109, Cyprus went