The Summer 2011 edition of the Absolute Priority newsletter, published by the Bankruptcy & Restructuring group at Cooley LLP, of which I am a member, has just been released. The newsletter gives updates on current developments and trends in the bankruptcy and workout area. Follow the links in this sentence to access a copy of the newsletter. You can also subscribe to the blog to learn when future editions of the Absolute Priority newsletter are published, as well as to get updates on other bankruptcy and insolvency topics.
The latest edition of Absolute Priority covers a range of cutting edge topics, including:
- Recent case law on the impact of a confirmed plan on a second bankruptcy filing by a successor to the original debtor;
- The Second Circuit's recent decision limiting "gifting" in a Chapter 11 plan;
- The reach of the Section 546(e) securities transaction safe harbor defense in avoidance actions; and
- An update on litigation by the Madoff trustee against feeder funds and its broader implications.
This edition also reports on some of our recent representations, including the Chapter 11 bankruptcy case for our client Metropark USA, Inc., and our work for official committees of unsecured creditors in Chapter 11 cases involving major retailers and others. Recent committee cases include Blockbuster, Orchard Brands, ArchBrook Laguna Holdings, Signature Styles, Claim Jumper Restaurants, OTC Holding Corp., Urban Brands, Mervyn's Holdings, Sierra Snowboard, Trade Secrets, Mt. Diablo YMCA, and Pacific Metro, among others.
I hope you find the latest edition of Absolute Priority to be of interest.