Practice Area Blogs & Digests

The Southern District of Texas’s recent popularity in commercial filings, stemming from a number of factors, makes it a new contender to be one of the busiest commercial bankruptcy districts in the country.

During the nearly three-year pendency of the case, the battles between the Archdiocese of St. Paul and Minneapolis and the committee representing the survivors of sexual abuse have resulted in court decisions on two subjects of broad importance in chapter 11 cases generally.

In a new development to receivership law, the Minnesota Court of Appeals affirmed a receiver’s power to pursue a creditor’s “veil piercing” claims against insiders of the company in receivership, and blocked the creditor from pursuing those same claims after the receivership ended.  

Three new judges have recently joined the Minnesota federal bench, returning the District of Minnesota to full strength for the first time in more than two years.

In a September 19 press release the SEC indicated that companies hit by Hurricane Florence will receive an extension on certain filing deadlines.

On September 11, the SEC announced that Elad Roisman had been sworn into office as an SEC Commissioner by SEC Chairman Jay Clayton. 

On September 6, the SEC announced an award of $39 million to one whistleblower and $15 million to another, stating that the whistleblowers’ “critical information and continued assistance helped the agency bring an important enforcement action.” 

On September 12, proxy advisory firm Glass Lewis issued a release indicating that it will incorporate guidance on material environmental, social and governance matters from the Sustainability Accountability Standards Board in several of its research and advisory products.

On August 17, the SEC adopted amendments to Regulation S-K intended to simplify and update disclosure requirements, including disclosure requirements that had become duplicative or outdated.