The Caesars’ bankruptcy case has garnered a great deal of attention throughout the year and has yielded a number of interesting and important opinions. The latest opinion of significance was issued on October 6, 2015 by the District Court for the Northern District of Illinois.

A “structured dismissal” of a chapter 11 case following a sale of substantially all of the debtor’s assets has become increasingly common as a way to minimize costs and maximize creditor recoveries. However, only a handful of rulings have been issued on the subject, perhaps because bankruptcy and appellate courts are unclear as to whether the Bankruptcy Code authorizes the remedy.

Last week, the Second Circuit Court of Appeals affirmed a decision by the Bankruptcy Court for the Southern District of New York in In re TPG Troy, LLC, 2015 U.S. App.

Even after the U.S. Supreme Court in RadLAX Gateway Hotel, LLC v. Amalgamated Bank, 132 S. Ct. 2065 (2012), pronounced in no uncertain terms that a secured creditor must be given the right to “credit bid” its claim in a bankruptcy sale of its collateral, the controversy over restrictions on credit bidding continues in the courts. A ruling recently handed down by the Fifth Circuit Court of Appeals has added a new wrinkle to the debate. InBaker Hughes Oilfield Operations, Inc. v. Morton (In re R.L. Adkins Corp.), 2015 BL 116996 (5th Cir. Apr.

In a case that could have upended the bankruptcy and magistrate court systems, the Supreme Court took a pragmatic approach yesterday when it held in Wellness Int’l Network, Ltd. v. Sharif that with “knowing and voluntary consent” of the parties, a bankruptcy court could adjudicate a so-called “Sternclaim,” which would otherwise be outside the scope of its constitutional power.  The Court’s 2011 ruling in Stern v.

Debt-for-equity swaps and debt exchanges are common features of out-of-court as well as chapter 11 restructurings. For publicly traded securities, out-of-court restructurings in the form of "exchange offers" or "tender offers" are, absent an exemption, subject to the rules governing an issuance of new securities under the Securities Exchange Act of 1933 (the "SEA") as well as the SEA tender offer rules.

Compared to much of the rest of the world, the United States had the most positive economic, business, and financial news in 2014.

In December 2013, the Court of Appeals for the Second Circuit held that section 109 of the Bankruptcy Code was applicable to Chapter 15 cases.  In Drawbridge Special Opportunities Fund LP v. Barnet (In re Barnet), 737 F.3d 238 (2d Cir.

After a creditor or equity security holder casts its vote to accept or reject a chapter 11 plan, the vote can be changed or withdrawn "for cause shown" in accordance with Rule 3018(a) of the Federal Rules of Bankruptcy Procedure ("Rule 3018(a)"). However, "cause" is not defined in Rule 3018(a), and relatively few courts have addressed the meaning of the term in this context in reported decisions.

According to a recent decision from the Delaware Supreme Court, a secured party bears the burden of any mistakes in its security documents.  Official Comm. of Unsecured Creditors of Motors Liquidation Co. v. JPMorgan Chase Bank, N.A., No. 325, 2014 Del. LEXIS 491 (Del. Oct. 17, 2014) (“Del.