PRINT
Filter by Category

Category: Chapter 11

What 2017 May Bring for the Restructuring Community

We asked some of our financial advisor colleagues to give us brief readouts on what they felt 2017 has in store for us now that we have gotten beyond the inauguration and into the first weeks of the Trump administration.  Their thoughts follow: We have been seeing a lot...
Go

The Ninth Circuit Loosens the Cap on Landlord Damages in In re Kupfer

Any property owner which has experienced the bankruptcy of a tenant is doubtless keenly aware of the limitation on damages which the Bankruptcy Code imposes on the landlord. A new decision by the Ninth Circuit bolsters the position of landlords in this long-running tussle. Section 502(b)(6) Cap Refresher Before...
Go

December 1, 2016 Revisions to the FRBPs: Taking the Bite Out of the Core-Noncore Distinction

On December 1, 2016, something extraordinary happened. No, it was not president-elect Trump visiting another Carrier air conditioning factory in Indianapolis. It was an event that made no headlines and caused no stir.  The Federal Rules of Bankruptcy Procedure were silently amended to remove all references to “core” and...
Go

What Might a Trump Administration Mean for Bankruptcy Lawyers?

Inauguration is still about 2 months away, but it is not too early to begin thinking about what the Trump Administration will mean for commercial lawyers in general and bankruptcy lawyers in particular. Bankruptcy Reform? We are not hearing anything about a push for bankruptcy reform as part of...
Go

November Surprise? Ninth Circuit Resurrects Post-Default Interest

The additional “default interest” owed when a borrower defaults under a loan agreement is a technical but highly critical part of any lending arrangement. This important “default interest” was the subject of a recent Ninth Circuit decision in which the Circuit made a nearly 180-degree u-turn away from its...
Go

Greenberg Glusker Guides Imaging3, Inc. Through Multiple Bankruptcy Appeals

Published in the Los Angeles Business Journal on January 18, 2015 Imaging3, Inc., a Burbank-based medical technology developer, emerged from Chapter 11 bankruptcy in 2013 after the reorganization plan that would convert the company’s debt to equity was approved by the court. The company faced several setbacks when a...
Go

Who Says There Are No More Big Los Angeles Chapter 11 Cases?

On July 30, 2015, Relativity Media, along with 144 of its affiliates, filed a Chapter 11 bankruptcy.  The multi-million dollar entertainment company, which produced films such as  The Social Network ,  The Fighter ,  Limitless , and others, is headquartered on Beverly Blvd. in Beverly Hills.  As of the...
Go

50 Cent Files for Bankruptcy, Trades In Da Club for In Da Courthouse

The rapper Curtis James “50 Cent” Jackson III filed a voluntary chapter 11 bankruptcy petition in Connecticut bankruptcy court on Monday, July 13, 2015.  Jackson rose to prominence with songs like In Da Club and P.I.M.P. from his 2003 album  Get Rich or Die Trying  (also the name of...
Go

As Retail Bankruptcies Rise, Landlords Must Prepare

Commercial landlords should take notice. Within the last several months, one women’s clothing retailer after another has gone out of business. On Dec. 4, 2014, Philadelphia-based  Deb Shops  filed Chapter 11. Next came  Delia’s , based in New York, which filed bankruptcy only four days later. On Jan. 9...
Go

Retail Chapter 11 Filings Up, Bucking Bankruptcy Trends In Economic Recovery

The economy is humming along and bankruptcy filings are at historic lows. Nevertheless, a recent trend in retail may suggest that the times, they are a-changing. Radio Shack, the 95-year-old national chain that for many years was the “go-to” store for consumer electronics, has been in the headlines as a...
Go

Report from the BHBA’s Review of the Three Bankruptcy-Related Supreme Court Decisions

The Beverly Hills Bar Association’s Bankruptcy Section recently held a program discussing the three recent bankruptcy-related Supreme Court decisions:  Law v. Siege l ,  Executive Benefits Insurance Agency v. Arkison (In re Bellingham)  (redux of  Stern v. Marshall ), and  Clark v. Rameker  (regarding inherited IRAs and exemptions).  The program was...
Go

A New Year Brings New Challenges

A new year always brings new and unexpected challenges.  Turnaround professionals make careers out of expecting the unexpected and helping their clients turn challenges into opportunities. We asked several turnaround professionals to let us know, in a few words, what they see coming in 2014, and here are their...
Go

What’s Up for Restructuring Professionals in 2014?

Filings are Down Commercial bankruptcy filings were down by 28% in 2013 over the prior period in 2012, and overall bankruptcy filings dropped 15%, putting the country on the lowest level of petitions since 2007 according to figures released by the American Bankruptcy Institute.  The data, compiled by Epiq Systems...
Go

The Girls Gone Wild Chronicles — Episode 1

Joe Francis built his Girls Gone Wild (GGW) empire (and the ego of an emperor) filming intoxicated college girls in various states of undress, putting that footage on VHS (and later DVDs and branded websites), and selling them to eager consumers across the globe.  If you were alive and...
Go

To Stalk Or Not To Stalk? — That is the Question in a 363 Sale

The biggest trend in Chapter 11 bankruptcies over the past 10 years is to sell assets through a “Section 363 sale,” named for Section 363 of the Bankruptcy Code, which describes the standards for sales in bankruptcy court.   Previously, in most Chapter 11 cases, the debtor would propose a...
Go