In a recent decision by the United States Bankruptcy Court for the District of Delaware, In re Hercules Offshore, Inc., et al., Judge Kevin J. Carey confirmed Hercules Offshore’s plan over objections by the Equity Committee—including an objection to allegedly impermissible plan releases and exculpations.

Background

Since Marblegate was decided in 2014, the only court to address claims under §316(b) of the Trust Indenture Act (“TIA”) in the context of a corporate restructuring transaction is

Recently, a bankruptcy court in the First Circuit, confronted with whether the debtors’ chapter 12 case could be converted to a chapter 11 case – an issue over which there is split in the case law – determined that the Debtors’ chapter 12 case could not be converted to a chapter 11 case.

Relevant Statutes and Statutory Provisions:

By now (unless you’ve been living under a rock), we’re all familiar with the expression, “Netflix and chill.” It’s everywhere. Flooding your Instagram feed with duplicitous memes. Halloween costumes. Really, really bad pick-up lines. Like the many trite colloquialisms that have come before it, Netflix and chill’s ubiquity has begun to wane with overuse and time.

Early this week, a California Bankruptcy Court schooled counsel on abiding by local rules, avoiding gamesmanship, and maintaining a level of civility in litigation proceedings. These lessons arose in the context of an adversary proceeding in which counsel filed an emergency motion for a continuance of the deadline to respond to a complaint following retention of new counsel.

Lesson #1: Check for Typos

It is spring and the stands will soon ring with the oft-heard refrain, the clarion call of players and fans alike, “Hey ump, read the rules!”  In Rosenberg v.

On February 25, 2016 we discussed decisions by two judges of the United States Bankruptcy Court for the District of Delaware adopting and expanding upon Judge Walrath’s decision in In re Boomerang Tube, Inc., which held that a bankruptcy estate may not compensate professionals under

In a decision with significant implications for investors and underwriters alike, the Court of Appeals for the Second Circuit has held that contribution claims arising from the purchase and sale of a security of an affiliate of the debtor can and should be subordinated under section 51

In 

“Round and around and around and around we go // Oh now tell me, now tell me, now tell me now you know // … It takes me all the way // I want [to extend the automatic] stay” – Rihanna (as modified)