What rate of post-petition interest must a solvent debtor pay creditors whose claims are designated as unimpaired pursuant to Section 1124(1) of the Bankruptcy Code? [1] The answer can
Continue Reading Court Shocks Solvent PG&E with Electric Opinion Requiring High-Powered Interest Rates to Creditors
On February 19, 2020, the Small Business Reorganization Act (the “SBRA”) became effective and created a new subchapter V to chapter 11 of the Bankruptcy Code. As we have reported,
Continue Reading Subchapter V Eligibility: Congress Fixes CARES Act Provision That Excluded Affiliates of Issuers But Ignores Potential Eligibility for Foreign, Publicly Traded Companies and Affiliates
Congress passed the Small Business Reorganization Act of 2019 (“SBRA”), otherwise known as “Subchapter V,” as a subchapter of chapter 11, to provide a streamlined and economically feasible reorganization option
Continue Reading CHAPTER 11 AS ALTERNATIVE TO CONVERSION OR DISMISSAL IN SUBCHAPTER V
On March 14, 2022, Senator Chuck Grassley (R-IA) introduced proposed legislation that—if enacted—would make permanent the $7.5 million debt limit applicable to debtors under subchapter V of chapter 11 of
Continue Reading A Day Late and Nearly $5 Million Short?: Legislation Introduced to Make Permanent the $7.5 Million Subchapter V Debt Limit As Temporary Extensions Sunset
The United States Supreme Court held in BFP v. Resolution Trust, that properties sold at “force-sale” mortgage foreclosure sales properly conducted pursuant to a state’s foreclosure statute are presumed
Continue Reading Not all Forced-Sale Mortgage Foreclosures are Exempt from Avoidance as Fraudulent Transfers Under Section 548 – a Case Study Regarding Application of Supreme Court’s BFP Factors to State Tax Sale Statutes
“Just enough” is an undeniable—if informal—legal precept. The concept finds its way into canon from adequacy of pleading to application of equity. See, e.g., K-Tech Telecommunications, Inc. v. Time
Continue Reading Courts Analyze the Degree of “Commercial or Business Activity” Necessary for a Liquidating Debtor to be Eligible for Subchapter V Relief
Secured creditors have many choices when it comes to how to file a proof of claim in bankruptcies. Those choices should be weighed carefully, however, because certain choices can have
Continue Reading Secured Creditors’ State Court Rights Affected By Proof of Claim Choices
The “COVID-19 Bankruptcy Relief Extension Act of 2021” was signed into law by President Biden on March 27, 2021, extending the key provisions of the COVID-19 Bankruptcy Relief Act which
Continue Reading CARES ACT BANKRUPTCY PROVISIONS EXTENDED FOR ANOTHER YEAR
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
Continue Reading Florida-based Entertainment Company Seeks Sale Via Chapter 11 Auction
On Friday, December 11, 2015, Cubic Energy Inc. and affiliated debtors (“Debtors” or “Cubic”) filed a voluntary Chapter 11 with the United States Bankruptcy Court for the District of Delaware.
Continue Reading Cubic Energy Files a Prepack Chapter 11 Petition