Background
The Board constituted under the chairmanship of Mr MS Sahoo has recently rejected an application for registration as an insolvency professional (IP) under regulation 7 of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016 (IP Regulations) through its first regulatory order.
Factual Matrix
Background
Trust Indenture Act Section 316(b) Limited to Actual Amendments to An Indenture’s Core Terms
Background
Background |
Background
The Perishable Agricultural Commodities Act (PACA) was passed by Congress in 1930 to protect agricultural produce suppliers from unscrupulous vendors who refused to pay the suppliers for their goods.
Decision clarifies standards for priority treatment under section 507(a)(7); important implications in retail bankruptcy cases for debtors, creditors - and consumers
Overview
UPDATE
THE INSOLVENCY AND BANKRUPTCY CODE, 2016 - NEW ROAD AND NEW CHALLENGES
25 May 2016
Introduction
On March 2, 2016, Sports Authority, Inc. (“Sports Authority”) and six of its affiliates filed for Chapter 11 bankruptcy in Delaware. The filing will significantly impact Sports Authority’s landlords and trade creditors. In a press release, Sports Authority stated that it intends to close or sell approximately 140 locations and two distribution centers in the coming months. The company is also seeking $595 million in post-bankruptcy financing to continue operations. Sports Authority is a sporting goods retailer with 463 locations in 41 states and Puerto Rico.