Despite the initial glee of the prospect of a United States that was independent of Middle East oil, beginning in the fourth quarter of 2014, the price of oil started dropping precipitously.  As noted in a recent article, over 80 bankruptcies in the oil industry were filed in 2015, up 471 % over calendar year 2014.  

As part of a modernization project that was begun by the Advisory Committee on Bankruptcy Rules in 2008, most of the Official Bankruptcy Forms will be replaced with substantially revised, renumbered and reformatted versions, effective December 1, 2015 (New Forms). The New Forms were approved by the Judicial Conference on September 17, 2015.

Anyone investing equity in an enterprise, whether creating a start-up or purchasing an established company, is a natural optimist.  The hope is that the business will continue to perform well and yield its owners substantial profits year-after-year (and then maybe a hefty return upon exit).  But, as those of us in restructuring know, not every company enjoys positive returns all the time.  Businesses go through down cycles for different reasons – whether it be the overall economic climate (think 2008), issues specific to a particular industry (think dropping oil prices), a gr

The American Bankruptcy Institute Commission to Study the Reform of Chapter 11 today released its long-awaited, much-anticipated Final Report and Recommendations.

New amendments to the Bankruptcy Rules became effective on December 1, 2011.  These amendments add new requirements and potentially harsh penalties for failure to comply.  An overview of those amendments follows.

Click here to view the table.