Introduction
Judge Parker of the U.S. Bankruptcy Court for the Western District of Texas recently issued an order in the case of Hilltop SPV, LLC, granting debtor Hilltop SPV LLC’s (“Hilltop”) motion to reject a Gas Gathering Agreement (“GGA”) with counter-party Monarch Midstream, LLC (“Monarch”).[1] This decision allows Hilltop to reject the GGA while allowing Monarch to retain the covenants that run with the land post-rejection.
In In re 301 W North Avenue, LLC, 2025 WL 37897 (Bankr. N.D. Ill. 2025), a bankruptcy court recently addressed provisions in a loan agreement and limited liability company (“LLC”) operating agreement as to their effect on permitting the filing of a bankruptcy petition. The loan agreement provided that a bankruptcy petition can be filed with the unanimous consent of all members and the consent of the independent director. The agreement further provided that there must be at least one independent director reasonably satisfactory to the lender.
The decision in York, in the matter of Exactech, Inc [2024] FCA 1522 reaffirms the scope to recognise a US chapter 11 bankruptcy in Australia as a foreign main proceeding [1] and demonstrates the importance of interim stay orders in protecting the assets of debtors and the interests of creditors until the final determination of the recognition application.
The common law of assignments for benefit of creditors (“ABCs”) has been around for a very long time as an out-of-court process under the law of trusts: debtor is trustor, assignee is trustee, and debtor’s creditors are beneficiaries.
And the common law of ABCs had already been well-established, when the U.S. Constitution was ratified.
The intersection of state escrow laws and federal bankruptcy laws can create confusion and surprise for contracting parties.
The Problem & Four Examples
The problem creating such confusion and surprise is this. State escrow laws:
- are, typically, defined by the common law;
- lack precise details; and
- are often applied in bankruptcy to the detriment of the party who believes a valid escrow exists.
Here are four examples of the escrow / bankruptcy problem.
Egypt’s bankruptcy law has undergone significant reforms in recent years, reflecting a broader effort to modernize the country s economic framework and create a more business-friendly environment. This article explores the key aspects of Egyptian bankruptcy law, focusing on its purpose, procedures, and implications for businesses and creditors.
The Evolution of Bankruptcy Law in Egypt
Two-years prospective relief from the automatic bankruptcy stay is a remedy granted for serial bankruptcy filings, under § 362(d)(4)(B), in In re Karpuleon, Case No. 24-80647 in Central Illinois Bankruptcy Court (entered 12/6/2024; Doc. 48).
Facts
Here’s what happened.
Debtor files a Chapter 13 petition on August 22, 2024—this is Debtor’s fourth such petition in the past four years.
Introduction
Insolvency is a financial state that can affect both individuals and businesses, signifying an inability to meet debt obligations. While it’s a challenging situation, addressing insolvency proactively can prevent further complications and set the stage for recovery. This guide provides actionable insights to navigate insolvency effectively, offering a lifeline when you need it most.
Key Causes of Insolvency
For Individuals
The opinion is Samson v. The LCF Group, Inc. (In re Bridger Steele, Inc.), Adv. No. 2:24-ap-2003 in the Montana Bankruptcy Court (decided September 30, 2024; Doc. 10).
Background
Debtor is a fabricator and seller of metal roofing and siding products.