plan of reorganization

DIP Financing: How Chapter 11’s Bankruptcy Loan Rules Can Be Used To Help A Business Access Liquidity

Bob Eisenbach — Tue, 05 Nov 2013 16:30:25 +0000

Cash Is King. An army may march on its stomach, but for companies, it’s liquidity that keeps the business going. For many companies, typical sources of liquidity, beyond cash flow from sales or other revenue, are (1) financing from banks or other secured lenders, (2) credit from vendors that can reduce immediate liquidity needs, and (3) when needed, loans from owners, investors, or other insiders.

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Spring 2013 Edition Of Bankruptcy Resource Now Available

Bob Eisenbach — Thu, 11 Apr 2013 15:43:45 +0000

The Spring 2013 edition of the Absolute Priority newsletter, published by the Bankruptcy & Restructuring group at Cooley LLP, of which I am a member, has now 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…

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Supreme Court Bids Adieu To Plans Denying Secured Creditors The Right To Credit Bid

Bob Eisenbach — Thu, 31 May 2012 11:24:43 +0000

On May 29, 2012, only a little more than a month after the April 23, 2012 oral argument in the case, the U.S. Supreme Court issued its decision in RadLAX Gateway Hotel, LLC, et al. v. Amalgamated Bank on the question of "credit bidding." You can get a copy of the opinion by following the link in this sentence. (You are also welcome to follow my Twitter feed @BobEisenbach for updates…

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Summer 2011 Edition Of Bankruptcy Resource Now Available

Bob Eisenbach — Mon, 29 Aug 2011 14:29:07 +0000

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…

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Spring 2011 Edition Of Bankruptcy Resource Now Available

Bob Eisenbach — Tue, 22 Mar 2011 14:14:22 +0000

The Spring 2011 edition of the Absolute Priority newsletter, published by the Cooley 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. You can also subscribe to the blog to learn when future…

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Supreme Court Decision Settles The Section 1146(a) Transfer Tax Exemption Issue

Bob Eisenbach — Mon, 16 Jun 2008 21:36:34 +0000

On June 16, 2008, the United States Supreme Court issued its decision in Florida Dept. of Revenue v. Piccadilly Cafeterias, Inc., the case involving whether Section 1146(a) of the Bankruptcy Code, which exempts from stamp or similar taxes any asset transfer “under a plan confirmed under section 1129 of the Code,” applies to transfers of assets occurring prior to the actual confirmation of such a…

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Chapter 11 Plan Ballots: A New Resource Goes Online

Bob Eisenbach — Fri, 07 Dec 2007 18:27:44 +0000

The Altman Group, one of a number of companies that provides bankruptcy claims and balloting services, has just launched a new Bankruptcy Ballot Archive. The Archive makes available a range of different types of ballots, which are used for voting on Chapter 11 bankruptcy plans of reorganization. The ten ballot categories on the Archive include the following: For debtors and restructuring…

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Patent Law Collides With Bankruptcy: Federal Circuit Denies Bankruptcy Liquidation Trust Standing To Sue For Patent Infringement

Bob Eisenbach — Tue, 25 Sep 2007 02:28:23 +0000

The United States Court of Appeals for the Federal Circuit has jurisdiction over, among other areas, patent appeals, so it’s not every day that a Federal Circuit decision appears on this business bankruptcy blog. (Actually, it’s been about a year since this post discussing another Federal Circuit decision.) However, a September 19, 2007 opinion (available here) of the Federal Circuit rested…

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Section 363 Sales: Interesting Article Takes A Further Look

Bob Eisenbach — Fri, 03 Aug 2007 21:19:30 +0000

David Powlen, Managing Director and Partner at Western Reserve Partners LLC, has an interesting article on the Turnaround Management Association website entitled "Bargains Await Buyers Skilled At Navigating Section 363 Minefields." It gives a good overview of the range of issues that arise in the context of a sale under Bankruptcy Code Section 363. Among the article’s observations: The article…

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Third Circuit Shoots Down Plan Confirmation, Finding Improper Gerrymandering

Bob Eisenbach — Tue, 08 May 2007 15:07:24 +0000

In an interesting decision issued last month in a case called In re Machne Manachem, Inc., the Third Circuit upheld a district court’s decision to reverse confirmation of a Chapter 11 plan of reorganization. The decision stemmed from steps taken to obtain votes required for approval of the plan. Before discussing the details, a bit of background on bankruptcy plans and the rules governing voting…

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