ABT Molecular Imaging, Inc. has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Case No. 18-11398). ABT, based in Louisville, TN, designs, manufactures and distributes the world’s first and only small-footprint Biomarker Generator for Fludeoxyglucose, the imaging agent used in positron emission tomography.
Nighthawk Energy plc, along with its wholly owned subsidiary Nighthawk Royalties LLC, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 18-10990). Nighthawk, an independent oil & gas company operating in the DJ Basin in Colorado, has not yet filed First Day Motions.
History: In a June 14, 2017, bankruptcy blog titled “Six Degrees of Separation: Use of Bankruptcy Rule 2004 Examination in Connection with Third-Party Litigation“, we reported on what appeared to be a case of first impression that arose in a case pending before United States Bankruptcy Judge Stuart Bernstein in the United States Bankruptcy Court for the Southern Distr
GulfMark Offshore, Inc., a provider of marine transportation services, primarily to the offshore energy industry, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware.
In a decision released on November 17, 2016, the Third Circuit Court of Appeals reversed the holding of the Delaware Bankruptcy Court, affirmed by the District Court, that EFIH is not required to pay make-whole payments. In re Energy Future Holdings Corp., 16-1351, _ F.3d _ (3d Cir. Nov. 17, 2016).
Summary of Facts
Recent changes to the Federal Rules of Civil Procedure will significantly alter the discovery proceedings in bankruptcy proceedings, particularly in adversary proceedings. See Fed. R. Bankr. P. Part VII (applying FRCP to adversary proceedings) and Rule 9014(c) (applying FRCP to most contested matters). While not intended to be a comprehensive analysis, below are some key considerations for bankruptcy practitioners navigating the amended rules.
The restructuring market has been eagerly anticipating the judgments in the New Look and Regis CVA challenges. The New Look judgment was handed down on 10 May 2021 and the Regis Judgment followed on 17 May 2021. This article briefly sets out the issues in the New Look CVA challenge, the decision of Mr Justice Zacaroli and what this means for the future of CVAs.
Overview of the New Look CVA Challenge
The claim brought by the Applicants (a consortium of compromised landlords) can be summarised briefly under three heads of claim:
The Corporate Insolvency and Governance Act 2020 has introduced a new standalone moratorium procedure for companies.1 The moratorium is part of a package of significant legislative reforms contained in the Act, intended to enhance the UK’s restructuring rescue culture. These were originally consulted on between 2016 and 2018 and were fast-tracked to deal with the COVID-19 pandemic.
Overview
A company’s intellectual property rights[1] are some of its most valuable and most enduring assets. They are also often the most encumbered, or the most enhanced, by contract.
On Monday, May 20, 2019, the United States Supreme Court issued an 8-1 decision holding that a bankrupt company’s decision to reject an existing license of its trademarks does not terminate a licensee’s right to continue using the licensed trademarks.