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
Business Bankruptcy Issues
Seventh Circuit Decision Gives Support To Protecting Buyers In Bankruptcy Sales From Successor Liability
By Bob Eisenbach on
Posted in Business Bankruptcy Issues, Recent Developments
Last week, the U.S. Court of Appeals for the Seventh Circuit addressed whether a buyer of assets outside of bankruptcy (in this case, from a receivership), takes on successor liability for federal Fair Labor Standards Act ("FLSA") claims made by the employees of the company whose assets it purchases. Although the case arose in a receivership, the Seventh Circuit’s opinion provides…
Official Bankruptcy Forms Revised To Reflect April 1, 2013 Dollar Amount Adjustments
By Bob Eisenbach on
Posted in Business Bankruptcy Issues, Recent Developments
As discussed in an earlier post called "Going Up: Bankruptcy Dollar Amounts Will Increase On April 1, 2013," various dollar amounts in the Bankruptcy Code and related statutory provisions were increased for cases filed on or after today, April 1, 2013. Now several official bankruptcy forms have been revised to reflect these new dollar amounts.…
Using Chapter 11 Bankruptcy’s Sale Process To Achieve An Exceptional Sale Price
By Bob Eisenbach on
A Difficult Problem. Imagine that your company is facing a government investigation, requiring you to spend hundreds of thousands of dollars in legal fees and costs, while being threatened with substantially more legal expense. That financial burden is simultaneously starving the company of cash needed to grow the business, and cash balances are heading…
Going Up: Bankruptcy Dollar Amounts Will Increase On April 1, 2013
By Bob Eisenbach on
Posted in Business Bankruptcy Issues, Recent Developments
It hasn’t gotten much publicity yet, but certain dollar amounts in the Bankruptcy Code will be increased for new cases filed on or after April 1, 2013. Follow this link for a chart listing all of the changes on this Federal Register page, which printed this month’s official notice from the Judicial Conference of the…
Summer 2012 Edition Of Bankruptcy Resource Now Available
The Summer 2012 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…
Seventh Circuit Bankruptcy Ruling Is Big Win For Trademark Licensees
By Bob Eisenbach on
Posted in Business Bankruptcy Issues, Recent Developments
On July 9, 2012, the U.S. Court of Appeals for the Seventh Circuit issued its decision in Sunbeam Products, Inc. v. Chicago American Manufacturing, LLC, and in doing so handed a major victory to trademark licensees whose licenses are rejected in bankruptcy by trademark owners. A copy of the opinion is available through this…
Supreme Court Bids Adieu To Plans Denying Secured Creditors The Right To Credit Bid
By Bob Eisenbach on
Posted in Business Bankruptcy Issues, Recent Developments
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…
Forced Into Bankruptcy: The Involuntary Bankruptcy Process
By Bob Eisenbach on
When a company is facing financial distress, the question often comes up whether creditors can "force" the company into bankruptcy. Although the answer is more complicated than it may seem, this post aims to sort out what being "forced into bankruptcy" really means (hint: there are two different ways this can happen) and why it matters to companies and…
Winter 2012 Edition Of Bankruptcy Resource Now Available
By Bob Eisenbach on
Posted in Business Bankruptcy Issues, Recent Developments
The Winter 2012 edition of the Absolute Priority newsletter, published by the Bankruptcy & Restructuring group at Cooley LLP, of which I am a member, has recently 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…