In The (Red)®

In The (Red)®

The Business Bankruptcy Blog

Tag Archives: Chapter 7

Amendments To The Federal Rules Of Bankruptcy Procedure Take Effect December 1, 2017

Posted in Business Bankruptcy Issues, Recent Developments
Just about every year amendments are made to the rules that govern how bankruptcy cases are managed — the Federal Rules of Bankruptcy Procedure. The amendments address issues identified by an Advisory Committee made up of federal judges, bankruptcy attorneys, and others. As the photo above reminds us, the rule amendments are ultimately adopted by… Continue Reading

The Venture-Backed Company Running Out Of Cash: Fiduciary Duties And Wind Down Options

Posted in The Financially Troubled Company
Many start-up companies backed by venture capital financing, especially those still in the development phase or which otherwise are not cash flow breakeven, at some point may face the prospect of running out of cash. Although many will timely close another round of financing, others may not. This post focuses on options available to companies… Continue Reading

Major Overhaul Of Federal Bankruptcy Forms, Plus An Accompanying Rule Amendment, To Take Effect December 1, 2015

Posted in Business Bankruptcy Issues, Recent Developments
Almost every year, changes are made to the set of rules that govern how bankruptcy cases are managed — the Federal Rules of Bankruptcy Procedure. The changes address issues identified by an Advisory Committee made up of federal judges, bankruptcy attorneys, and others. Often there are revisions to the official bankruptcy forms as well. One… Continue Reading

Amendments To The Federal Rules Of Bankruptcy Procedure, Including One Shortening The Time For Serving A Summons, Take Effect December 1, 2014

Posted in Business Bankruptcy Issues, Recent Developments
Almost every year, changes are made to the set of rules that govern how bankruptcy cases are managed — the Federal Rules of Bankruptcy Procedure. The changes address issues identified by an Advisory Committee made up of federal judges, bankruptcy attorneys, and others. Rule Amendments. This year the rule amendments, which go into effect on… Continue Reading

What The U.S. Supreme Court’s Unamimous Decision In A Homestead Exemption Case Says About The Power Of Bankruptcy Courts In Business Cases

Posted in Business Bankruptcy Issues, Recent Developments
  It seems that most bankruptcy decisions by the U.S. Supreme Court involve individual debtors, and the Supreme Court’s latest opinion is no exception. Even though the decision is not in a business bankruptcy case, it examines the bankruptcy court’s powers under Section 105(a) of the Bankruptcy Code. Section 105(a) is commonly invoked in business bankruptcy… Continue Reading

The Privilege Is All Mine: What Happens To A Corporation’s Attorney-Client Privilege In Bankruptcy?

Posted in Business Bankruptcy Issues, The Financially Troubled Company
It’s well-established that a corporation has an attorney-client privilege and can assert it to keep communications between the corporation and its attorneys confidential. When a corporation is solvent, its officers and directors maintain the right to assert — or waive — the attorney-client privilege on behalf of the corporation, and control who has access to privileged communications. The… Continue Reading

Forced Into Bankruptcy: The Involuntary Bankruptcy Process

Posted in Business Bankruptcy Issues, The Financially Troubled Company
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 creditors. Forced… Continue Reading

Bankruptcy Judge’s Free Online Research Binder Now Updated

Posted in Business Bankruptcy Issues, Recent Developments
I have posted in the past about the helpful research binder that former Judge Randall J. Newsome of the United States Bankruptcy Court for the Northern District of California had made available on the Bankruptcy Court’s website. Although Judge Newsome has retired from the bench, fortunately Judge Charles Novack, also of the U.S. Bankruptcy Court for the Northern District… Continue Reading

Second Circuit Decides Whether Unsecured Creditors Can Recover Post-Petition Attorney’s Fees

Posted in Business Bankruptcy Issues, Recent Developments
On November 5, 2009, the U.S. Court of Appeals for the Second Circuit became the second court of appeals to answer the question left open in the U.S. Supreme Court’s March 2007 decision in Travelers Casualty & Surety Co. of America v. Pacific Gas & Electric Co., 549 U.S. 443 (2007): Can unsecured creditors recover… Continue Reading

A Matter Of Time: Important Amendments To The Bankruptcy Rules Are Coming December 1st

Posted in Business Bankruptcy Issues, Recent Developments
Nearly every year, changes are made to the set of rules that govern how bankruptcy cases are managed — the Federal Rules of Bankruptcy Procedure. Normally, the changes address issues identified by an Advisory Committee made up of federal judges, bankruptcy attorneys, and others. This year, the amendments to the national bankruptcy rules are mainly… Continue Reading