Minnesota recently legalized cannabis sale and use, creating a new legal industry almost overnight. Businesses in any new industry will necessarily face financial challenges, but with bankruptcy options limited for cannabis-related entities, can receivership law provide a mechanism for assisting these types of companies?
The Eighth Circuit became the most recent circuit to rule that avoidance causes of action are property of the bankruptcy estate and may be sold. How does this impact the practice of selling avoidance causes of action in both Chapter 7 and Chapter 11 cases? Does the Eighth Circuit’s decision open the door to the granting of a pre-petition security interest in avoidance causes of action?
A Florida bankruptcy court recently approved the first known Prepack Subchapter V plan. Can Prepacks work in Subchapter V? And what issues should practitioners be aware of?
The Purdue Pharma decision is just the latest case to address the constitutional and statutory authority for third-party releases in bankruptcy plans. Shortly thereafter, a New Jersey bankruptcy court dismissed LTL’s second attempt to commence a bankruptcy case using the Texas two-step. These cases and other recent decisions all focus on methods and tools to resolve complicated mass-tort matters in Chapter 11, which two professors recently argued is an appropriate tool to resolve these types of cases.
Recent cases involving structured dismissals and the dischargeability of corporate debts in Subchapter V demonstrate the evolving nature of Subchapter V and its ability to remain an efficient and cost-effective process for small businesses.
With Chapter 11 bankruptcy filings on the rise in the first six months of 2023, including Subchapter V filings, it is important to understand the advantages and challenges of Subchapter V and its stream-lined reorganization process.
Two recent bankruptcy court opinions came to different conclusions on whether the liquidating trustee is obligated to make quarterly payments post-confirmation on disbursements from the liquidating trust.
When a business owner files an individual bankruptcy case, courts disagree on whether the owner’s personal guarantees of the business debt are discharged. A Wisconsin district court recently addressed this issue. What practical pointers can practitioners take from this recent decision and the rulings of other courts?
What steps should creditors take to best understand their rights and ensure they are as fully protected as possible both before and after a cryptocurrency bankruptcy case is filed.