United States: Insolvency/Bankruptcy

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Insolvency law and bankruptcy law articles, thought leadership, podcasts, videos and webinars from expert sources across the legal world. Explore insights covering topics surrounding financial restructuring, insolvency and bankruptcy.
Article
Bowflex Keeps The Weight Of Successor Liability From Landing On The Purchaser
A New Jersey District Court decision demonstrates how carefully drafted sale orders and proper notice procedures in bankruptcy asset sales can effectively shield buyers from legacy product liability claims. The case examines the critical interplay between asset purchase agreements, court-approved sale orders, and constitutional notice requirements in determining whether pre-closing liabilities follow purchased assets or remain with the seller.
United States Insolvency
PR
Proskauer Rose LLP
Article
Section 363 Sales In Bankruptcy: What Businesses, Lenders, And Buyers Need To Know
When a company enters Chapter 11 bankruptcy, many assume the process will culminate in a lengthy reorganization plan. However, distressed businesses are increasingly being sold through a different mechanism—a sale under Section 363 of the United States Bankruptcy Code. Understanding how Section 363 sales work can help business owners, lenders, investors, and prospective purchasers identify opportunities and avoid costly surprises in bankruptcy asset transactions.
United States Insolvency
SH
Scarinci Hollenbeck LLC
Article
Bankruptcy Court Evaluates Trustee's Authority To Sell Avoidance Actions And Right Of Target Defendants To Object
Bankruptcy courts disagree on whether avoidance actions constitute transferable estate property or nontransferable trustee powers, with significant implications for monetizing these claims through competitive sales. A recent Western District of Pennsylvania decision examined this issue alongside questions of bankruptcy standing when potential defendants challenged a trustee's proposed sale of avoidance actions to a creditor.
United States Insolvency
JD
Jones Day
Article
Florida Bankruptcy Court Examines Scope Of Discovery In Chapter 15 Cases
A Florida bankruptcy court examines the scope and limitations of discovery mechanisms available in Chapter 15 cross-border insolvency cases, clarifying when broad Rule 2004 discovery applies versus more restrictive adversary proceeding rules. The decision addresses critical questions about asset investigation, geographic limitations on subpoenas, and the interplay between different discovery frameworks when foreign representatives seek information about U.S. assets.
United States Insolvency
JD
Jones Day
Article
Fifth Circuit: Bankruptcy Court, Not State Court, Had Jurisdiction To Allow Or Disallow Administrative Expense Claim
The Fifth Circuit Court of Appeals examined whether bankruptcy courts possess core jurisdiction to adjudicate administrative expense claims that are predicated on state law causes of action, or whether such underlying state law disputes must first be resolved by state courts. The decision clarifies the scope of bankruptcy court authority when non-bankruptcy law intersects with core bankruptcy proceedings.
United States Insolvency
JD
Jones Day
Article
In Chester Chapter 9 Decision, Third Circuit Provides Guidance On Bankruptcy Treatment Of Municipal Revenue Bonds
The Third Circuit Court of Appeals has issued a pivotal ruling in Chester, Pennsylvania's chapter 9 bankruptcy case that examines when municipal revenue bonds maintain their secured status after a city files for bankruptcy protection. The decision analyzes three critical exceptions under Section 552(a) of the Bankruptcy Code that could preserve bondholders' liens on post-bankruptcy revenues, with implications for how municipal financing structures must be crafted to withstand bankruptcy proceedings.
United States Insolvency
HL
Hogan Lovells Cadwalader
Article
To Bring A Secured Claim, You Must Own The Secured Claim
The Eleventh Circuit's decision in In re Aegis Asset Management, LLC establishes a critical timing requirement for secured creditors in bankruptcy proceedings. When Cloud 9 Properties filed three secured claims against property sale proceeds, the court faced a fundamental question: must a creditor own the underlying notes and mortgages at the moment they file their proof of claim, or can they acquire these instruments afterward and still maintain a valid claim?
United States Insolvency
Aa
Adams and Reese
Article
Serta Simmons Bedding: The Fifth Circuit’s Uptier Decision And The Landmark Damages Ruling On Remand
A U.S. Bankruptcy Court has awarded $261.13 million in damages plus six years of prejudgment interest against participating lenders in Serta's 2020 uptier transaction, marking the first successful court challenge to a common liability management exercise. The ruling found that privately negotiated debt exchanges do not qualify as "open market purchases" and that lenders breached pro rata sharing provisions by receiving payments without offering participation to all lenders. This precedent-setting decision r
United States Finance
MB
Mayer Brown
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