The Fall 2008 edition of the Absolute Priority newsletter, published by the Cooley Godward Kronish LLP Bankruptcy & Restructuring group, 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 or to register to receive future editions. 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 topics.

The latest edition of Absolute Priority covers a range of cutting edge topics, including:

• Claims and defenses under the WARN Act;
• The Supreme Court’s decision on transfer taxes and bankruptcy sales;
• Section 363 "free and clear" sales in bankruptcy; and
• The interplay between claim objections and the Section 503(b)(9) "20 day goods" administrative claim.

This edition also has information on some of our recent representations of official committees of unsecured creditors in Chapter 11 bankruptcy cases involving major retailers. These include Mervyn’s, Boscov’s, Hancock Fabrics, Steve & Barry’s, Goody’s, Sharper Image, The Bombay Company, and Shoe Pavilion, among others. In addition, a note from my partner Adam Rogoff, the editor of Absolute Priority, discusses how the current economic problems will require lenders, unsecured creditors, and others to consider the impact of Chapter 11 bankruptcy on their rights.

I hope you find this latest edition of Absolute Priority to be a helpful resource.