Fulltext Search
Fifth Circuit Joins Circuit Split Upholding Bankruptcy Court Jurisdiction to Hear Social Security Claims: Case Has Impact for Health Care Bankruptcies

The Bottom Line

USA, Healthcare & Life Sciences, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP, Medicare, Medicaid, US Congress, Social Security Administration, Fifth Circuit
Restructuring Trend: The Ultrafast Prepack for Private Credit Deals

Our private credit clients are preparing for the next restructuring cycle and have called us about ultrafast bankruptcy cases. These chapter 11 cases have grabbed headlines because they lasted less than a day. Specifically, FullBeauty Brands and Sungard Availability Services emerged from bankruptcy in 24 hours and 19 hours, respectively. Is this a trend and which companies are best suited to zip through chapter 11?

A. Prepacks, Pre-Negotiated Cases, and Free-Falls

USA, Insolvency & Restructuring, Litigation, Proskauer Rose LLP, Debtor
Eleventh Circuit Narrows Circuit Split Holding New Value Not Required to Remain Unpaid

The Bottom Line

USA, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP, Eleventh Circuit
Delaware Bankruptcy Court Upholds Bankruptcy Code Pre-emption Invalidating Pre-Petition Claims as Part of Post-Petition KERP

The Bottom Line

USA, Delaware, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP
SDNY District Court Upholds Substantive Consolidation to Eliminate Guarantee Claims

The Bottom Line

USA, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP, US District Court for the Southern District of New York
US Supreme Court Limits Securities Safe Harbor Protection From Bankruptcy Clawback Suits

The securities safe harbor protection of Bankruptcy Code (“Code”) § 546(e) does not protect allegedly fraudulent “transfers in which financial institutions served as mere conduits,” held the U.S. Supreme Court on Feb. 27, 2018. Merit Management Group LP v. FTI Consulting Inc., 2018 WL 1054879, *7 (2018). Affirming the Seventh Circuit’s reinstatement of the bankruptcy trustee’s complaint alleging the insolvent debtor’s overpayment for a stock interest, the Court found the payment not covered by §546(e) and thus recoverable. The district court had dismissed the trustee’s claim.

USA, Insolvency & Restructuring, Litigation, Schulte Roth & Zabel LLP, Supreme Court of the United States
“Golden Share” Equity Holder Can Bar Bankruptcy Filing

The Bottom Line

USA, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP
Delaware Bankruptcy Court Approves Separate Classification and Disparate Gifted Consideration Between General Unsecured Creditors

The Bottom Line

USA, Delaware, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP
California Court Upholds Expansive Definition of Recoupment

The Bottom Line

USA, California, Healthcare & Life Sciences, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP, Medicaid, Ninth Circuit, US District Court for Central District of California
Hospital Sales: No State Approval Required for Non-Operating Debtor

The Bottom Line

USA, California, Healthcare & Life Sciences, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP