business-reorganization
Retailers everywhere appear to be filing chapter 22 — even chapter 33 — bankruptcies. This results in multiple litigation questions, the most recent of which pertain to Rite Aid.
Back in May,[1] Grant Cardone submitted a $230 million stalking-horse bid for a 366-unit luxury apartment complex in Boca Raton owned by debtor Via Mizner Owner I LLC that set a floor for a § 363 auction in the debtors’ chapter 11 cases pending in the U.S.
The Business Reorganization Committee had a busy and successful 2024, and we are already looking forward to another great year in 2025.
Editor’s Note: In honor of Black History Month, the Business Reorganization Committee interviewed Ciara Rogers, a partner with Waldrep Wall Babcock & Bailey, PLLC in Raleigh, N.C.
In 2022, following a downturn in travel related to the COVID-19 pandemic, a regional airline filed for bankruptcy in Delaware. In the following months, pursuant to the plan, Chris Tierney was appointed as liquidating trustee, and Steven Jackson was brought in to handle the day-to-day operations.
Lawyers often prominently designate a letter or e-mail communication as a “Rule 408 Protected Settlement Communication” that is “inadmissible” as evidence. That label will be in bold and italicized, maybe in all caps, for emphasis.
In the wake of the U.S. Supreme Court’s Harrington v. Purdue Pharma L.P. [1] decision definitively doing away with nonconsensual third-party releases, courts and practitioners alike have been struggling with the meaning of “consensual” in the context of such releases. One such jurist is the Hon. Craig Goldblatt of the U.S.
Many lawyers viewed chapter 11, which came into effect in 1979, as unsuccessful in the 1980s. Large firms had been mired in bankruptcy for years — three years, on average. The process was seen as expensive, inaccurate and subject to abuse.
District Court Judge Frank Geraci of the Western District of New York stirred the pot on what seemed like a settled chapter 11 issue by reversing the bankruptcy court and rejecting the majority view on the fate of official committees upon dismissal of a chapter 11 case.[1]
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This panel focuses on the critical role of strategic communications during large, high-profile bankruptcy cases. Using real-world examples, experts discuss the challenges of managing media narratives, stakeholder concerns and public perception in high-stakes scenarios. Topics include media relations, crisis communication strategies, and the importance of proactive storytelling to ensure a successful restructuring.
This panel will discuss the impact on consumers, and consumer bankruptcy cases, when a consumer lender or loan-servicer files for chapter 11.
The increased debt limit applicable to subchapter V cases expired in June 2024. This webinar, hosted by ABI's Business Reorganization and Legislation Committees, will examine the effects of the increased debt limit's expiration, where small business debtors and their attorneys can go from here, best practices and potential workarounds, prospects for further congressional action and more.
This panel will discuss the historical relationship between secured and unsecured creditors in reorganization cases, and explore recent instances where the groups have worked together to create value for their constituents. The panelists will include an overview of the key positions taken by each group, and will provide first-hand descriptions of how the constituents were able to achieve consensus.
This panel of experts will discuss emerging trends from recent restructurings and bankruptcies in the health care industry, with a special focus on hospitals and biotechnology companies.
This panel will discuss the following issues regarding crypto, distinguishing customer property from property of the estate, understanding crypto valuation issues, distribution options in crypto cases, M&A risks and pitfalls, effectively using social media to communicate with a large customer base, juggling cash and crypto management, and debtor-on-debtor violence.
These overviews from ABI committee experts will arm you with vital information you can use in your practice well into the new year.
This panel will delve into issues involving digital accounts, cryptocurrency and NFTs, including how to getsecured and perfected, how to liquidate, and bankruptcy-specific considerations. The panelists also will discuss UCC Article 12 and its impact on the digital-asset world for secured parties, and help practitioners better understand the considerations and issues they should be spotting when advising their constituents on dealing with digital assets.
Recent large bankruptcies like NRA, Boy Scouts of America, Roman Catholic Archdiocese, Purdue Pharma and J&J have invigorated debate over the longstanding issues of venue and bad faith in bankruptcy. This panel will explore matters surrounding venue and bad-faith filings, related ethics considerations, and the newest wave of reform initiatives.
There have been a number of recent bankruptcy filings by large and high profile healthcare providers, such as the filings of Verity Health System of California, Inc., in Los Angeles (the second largest hospital bankruptcy case in American history), Hospital Acquisition LLC and 25 related debtors d/b/a Promise Health and American Academic Health System (Hahnemann University Hospital and St. Christopher Hospital in Philadelphia) in Wilmington, Delaware, and Astria Health in Yakima, Washington.
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Jacob Frumkin Esq.
Co-Chair
Hackensack, NJCole Schotz P.C.
(646) 563-8944
Scott D. Lawrence
Co-Chair
Dallas, TXWick Phillips, LLP
(214) 420-4449
Yelena E. Archiyan
Communications Manager
Dallas, TXKatten Muchin Rosenman LLP
(214) 765-3657
Evan N. Parrott
Education Director
Mobile, ALMaynard Nexsen, PC
(251) 206-7449
Daniel J. Harris Esq.
Membership Relations Director
Hackensack, NJCole Schotz P.C.
(201) 525-6202
Erica Mannix
Newsletter Editor
Roseland, NJLowenstein Sandler LLP
(973) 597-2500
Anthony Lee Pacchia
Special Projects Leader
New York, NYICR
(908) 403-7790