When a tenant under a commercial lease defaults and the landlord wishes to exercise a right to terminate the lease and evict the tenant, the landlord must comply with the terms of the lease and the applicable law regarding termination and eviction. This issue was addressed in a September 8, 2011, decision by the U.S.
The worldwide press has been humming that General Motors has finally taken back the pole position from Toyota as the worldwide sales leader. In contrast, stories about the General Motors bankruptcy have mostly stalled since the automaker’s plan of liquidation took effect last March. Until now.
When talking about mergers, acquisitions and maybe even liquidations, retirement plans can sometimes get lost in the shuffle. Asset purchases that result in the liquidation of the seller company, or acquisitions of assets by buyers, can create problems over legacy retirement plans. These "orphan" plans just don't disappear and they have to be dealt with properly.
Tronox Incorporated and certain affiliates (the “Debtors”) emerged from Chapter 11 in February 2011 armed with a new capital structure and operational game plan, but that’s yesterday’s news. The flavor of the month is last Friday’s decision by Justice Allan L.
The United States Bankruptcy Court for the District of Delaware (the Court) recently granted a motion to dismiss a mezzanine borrower’s chapter 11 bankruptcy petition at the outset of the debtor’s case.1 In In re JER/Jameson Mezz Borrower II, LLC, The Court found that the debtor’s petition had been filed in bad faith because, among other things, a junior mezzanine lender had directed the debtor to file the petition with the intent of hindering a senior mezzanine lender’s foreclosure efforts and without any valid reorganization purpose.
Last month, the U.S. Supreme Court agreed to hear another bankruptcy case and this one could have a profound effect on a lender’s bidding rights when its collateral is up for sale. RadLAX Gateway Hotel, LLC v. Amalgamated Bank, No. 11-166, cert. granted Dec.
There has been a high volume of bankruptcy filings over the last three years of the economic downturn and they do not show any signs of letting up. Whether it is Hostess Brands—with the future of Twinkies at risk, the prospect of iconic Kodak in the Bankruptcy Court or
IN RE: FORT WAYNE TELSAT, INC. (November 23, 2011)
Summary
The Bottom Line: