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Reviewing Late Payments for an Ordinary Course Defense

The Bankruptcy Protector

USA, Insolvency & Restructuring, Litigation, Nelson Mullins Riley & Scarborough LLP, Bankruptcy
Revisiting the Supreme Court’s 2020 Decision in Acevedo Barring Entry of Nunc Pro Tunc Orders: How to Ensure Your Employment and Fee Applications are Properly Approved

The Bankruptcy Protector

USA, Employment & Labor, Insolvency & Restructuring, Litigation, Nelson Mullins Riley & Scarborough LLP, Supreme Court of the United States
A Growing Circuit Split: Does the IRS Have Sovereign Immunity from Fraudulent Transfer Claims under 11 U.S.C. § 544(b)(1)?

The Bankruptcy Protector

USA, Insolvency & Restructuring, Litigation, Tax, Nelson Mullins Riley & Scarborough LLP, Internal Revenue Service (USA), Supreme Court of the United States, Ninth Circuit
Recovery from a Member’s Interest in an LLC

The Bankruptcy Protector

USA, Company & Commercial, Insolvency & Restructuring, Litigation, Nelson Mullins Riley & Scarborough LLP
Bankruptcy 101: The “Estate” and “Property of the Estate”

This entry is part of Nelson Mullins’s ongoing “Bankruptcy Basics” blog series that is intended to address foundational aspects of bankruptcy for non-bankruptcy practitioners and professionals. This entry will explain the concepts of the bankruptcy “estate” and “property of the estate” and the importance thereof.

USA, Insolvency & Restructuring, Nelson Mullins Riley & Scarborough LLP
Does the Bankruptcy Code Allow for Partial Discharge of Student Loans?

The Bankruptcy Protector

USA, Insolvency & Restructuring, Litigation, Nelson Mullins Riley & Scarborough LLP, Bankruptcy
Fifth Circuit Gives Commercial Lessees Likely Protection in Bankruptcy Court Free and Clear Asset Sales

A bankruptcy court gave “unnecessary and unlikely incorrect” reasoning to support its “excessively broad proposition that sales free and clear under [Bankruptcy Code (“Code”)] Section 363 override, and essentially render nugatory, the critical lessee protections against a debtor-lessor under [Code] 365(h),” said the U.S. Court of Appeals for the Fifth Circuit on Feb. 16, 2022. In re Royal Bistro, LLC, 2022 WL 499938, *1-*2 (5th Cir. Feb. 16, 2022).

USA, Insolvency & Restructuring, Litigation, Schulte Roth & Zabel LLP
The PTL Bankruptcy Case: Sex, Drugs, and Gospel

Not your Ordinary Bankruptcy Case

Columbia, South Carolina is hot during the summer, such that the City adopted the motto “Famously Hot” a few years ago. Temperatures frequently exceed 100 degrees in the summer. On June 12, 1987, the PTL Club filed chapter 11 cases in Columbia, adding heat to the already hot City.

USA, Insolvency & Restructuring, Litigation, Nelson Mullins Riley & Scarborough LLP, Bankruptcy, Internal Revenue Service (USA), Federal Communications Commission (USA)
Responding to Automatic Stay Violations: A Cautionary Tale for Overzealous Debtors’ Attorneys

The filing of a bankruptcy petition under any chapter of the Bankruptcy Code creates the ‘automatic stay,’ which prevents creditors from taking any further action against either the debtor or the debtor’s assets during the bankruptcy. Seasoned bankruptcy attorneys know that a violation of the automatic stay is a serious matter and, because of this, appropriately advise their clients on complying with, or enforcing, the stay. However, stay violations can inadvertently occur even when all reasonable and necessary precautions are taken.

USA, Insolvency & Restructuring, Litigation, Nelson Mullins Riley & Scarborough LLP, Bankruptcy
Using 3rd-Party Releases In Chapter 11 After Court Pushback

For the second time in four weeks, a U.S. district court questioned the authority of bankruptcy courts to issue nonconsensual third-party releases as part of a plan of reorganization.

USA, Insolvency & Restructuring, Litigation, Schulte Roth & Zabel LLP