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    A closer look at the NewPage bankruptcy
    2011-09-11

    On September 7, 2011, NewPage Corporation ("NewPage" or "Debtors") filed petitions for bankruptcy in the United States Bankruptcy Court for the District of Delaware.  As stated in NewPage's Declaration in Support of First Day Motions (the "Declaration" or "Decl."), filed with the Bankruptcy Court, NewPage produces coated paper used in magazines, brochures catalogs and textbooks.  NewPage manufactures its products in paper mills located in Kentucky, Maine, Maryland, Michigan, Minnesota, Wisconsin and in Nova Scotia, Canada.  Decl. at *4.

    Filed under:
    USA, Delaware, Insolvency & Restructuring, Litigation, Fox Rothschild LLP, Bankruptcy, Trade union, Packaging and labeling, United States bankruptcy court, US District Court for District of Delaware
    Authors:
    L. Jason Cornell
    Location:
    USA
    Firm:
    Fox Rothschild LLP
    Solyndra files bankruptcy in Delaware after shutting down operations
    2011-09-06

    Introduction

    Filed under:
    USA, Delaware, Insolvency & Restructuring, Litigation, Fox Rothschild LLP, Solar energy, Bankruptcy, Collateral (finance), Landlord, Accounts receivable, Option (finance), Debt, Liquidation, Debtor in possession, Preferred stock, Bridge loan, United States bankruptcy court, US District Court for District of Delaware
    Authors:
    L. Jason Cornell
    Location:
    USA
    Firm:
    Fox Rothschild LLP
    Evergreen Solar files bankruptcy in Delaware
    2011-08-22

    On August 15, 2011, Evergreen Solar ("Evergreen"), filed chapter 11 petitions for Bankruptcy in the United States Bankruptcy Court for the District of Delaware.  According to the Declaration of Evergreen's CEO, Michael El-Hillow (the "Declaration" or "Decl."), filed in support of its bankruptcy petitions, Evergreen incorporated in Delaware in 1994 and manufactures "multi-cystalline silicon wafers."  The company uses its silicon wafers in the production of photovoltaic solar cells, which in turn are installed in solar panels under the Evergreen trade name.  Decl. at 3.

    Filed under:
    USA, Delaware, Insolvency & Restructuring, Litigation, Fox Rothschild LLP, Wage, Solar energy, Bankruptcy, Limited liability partnership, Subsidy, Delaware General Corporation Law, United States bankruptcy court, US District Court for District of Delaware
    Authors:
    L. Jason Cornell
    Location:
    USA
    Firm:
    Fox Rothschild LLP
    Federal Bankruptcy Court in Delaware extends Federal WARN Act liability beyond employer
    2011-08-22

    The U.S. Bankruptcy Court for the District of Delaware ruled that an affiliate that held an indirect ownership interest in, and was a lender to, an employer could be liable for severance payments under the Federal WARN Act. In order for liability to apply to the affiliate, the affiliate and employer need to be found to constitute a "single employer" for Federal WARN Act purposes.

    Filed under:
    USA, Delaware, Employment & Labor, Insolvency & Restructuring, Litigation, Herrick Feinstein LLP, Bankruptcy, Limited liability company, Severance package, Worker Adjustment and Retraining Notification Act 1988 (USA), United States bankruptcy court, US District Court for District of Delaware
    Authors:
    Irwin Kishner , Daniel A. Etna
    Location:
    USA
    Firm:
    Herrick Feinstein LLP
    Recycled paper manufacturer, manistique papers, files bankruptcy in Delaware
    2011-08-17

    Introduction

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Fox Rothschild LLP, Bankruptcy, Collateral (finance), Landlord, Limited liability partnership, Recycling, Title 11 of the US Code, United States bankruptcy court, US District Court for District of Delaware
    Authors:
    L. Jason Cornell
    Location:
    USA
    Firm:
    Fox Rothschild LLP
    Toto, We Are Staying in Kansas: Bankruptcy Court Declines to Transfer Related Case to Delaware
    2016-05-06

    Venue has long been a contentious topic highlighted by cases such as Enron and WorldCom to the more recent venue battle in Caesars. Recently, the United States Bankruptcy Court for the District of Kansas addressed this issue, and declined to transfer a pending bankruptcy case to the District of Delaware where cases involving the debtor’s indirect parent company and other affiliates were pending.

    Filed under:
    USA, Delaware, Kansas, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, Debtor, Enron, United States bankruptcy court, US District Court for District of Delaware
    Location:
    USA
    Firm:
    Weil Gotshal & Manges LLP
    Another Alternative Fee Arrangement Bites the Dust
    2016-03-29

    On March 16, 2016, Judge Shannon of the U.S. Bankruptcy Court for the District of Delaware rejected a proposed fee structure for Baker Botts L.L.P., which was proposed counsel to the debtors in In re New Gulf Resources, LLC. His ruling is the latest development from that court on the U.S. Supreme Court’s decision in Baker Botts L.L.P. v.

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Cole Schotz PC, United States bankruptcy court, US District Court for District of Delaware
    Authors:
    David W. Giattino
    Location:
    USA
    Firm:
    Cole Schotz PC
    ASARCO Update: Fee Premium Disallowed Under Baker Botts v. ASARCO and Boomerang Tube
    2016-03-21

    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

    Filed under:
    USA, Delaware, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, United States bankruptcy court, US District Court for District of Delaware
    Location:
    USA
    Firm:
    Weil Gotshal & Manges LLP
    The Third Circuit Court of Appeals affirms structured dismissal of Chapter 11 case, holding that a structured dismissal can deviate from the Bankruptcy Code’s priority scheme in rare circumstances
    2015-06-01

    On May 21, 2015, the United States Court of Appeals for the Third Circuit affirmed a decision of the United States Bankruptcy Court for the District of Delaware, which had approved the structured dismissal of the Chapter 11 cases of Jevic Holding Corp., et al. The Court of Appeals first held that structured dismissals are not prohibited by the Bankruptcy Code, and then upheld the structured dismissal in the Jevic case, despite the fact that the settlement embodied in the structured dismissal order deviated from the Bankruptcy Code’s priority scheme.

    Filed under:
    USA, Insolvency & Restructuring, Litigation, A&O Shearman, Leveraged buyout, United States bankruptcy court, Third Circuit, US District Court for District of Delaware
    Authors:
    Fredric Sosnick , Douglas P. Bartner , Solomon J. Noh , Joel Moss
    Location:
    USA
    Firm:
    A&O Shearman
    When must a debtor pay prepetition vendor claims for goods received by a debtor within 20 days of the petition date under new Bankruptcy Code Section 503(b)(9)?
    2007-04-13

    The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (the “BAPCPA”) created an additional category of administrative expenses

    Filed under:
    USA, Insolvency & Restructuring, Litigation, White & Case, Bankruptcy, Debtor, Consumer protection, Debt, Liability (financial accounting), Default (finance), Prejudice, Memorandum opinion, Title 11 of the US Code, United States bankruptcy court, Third Circuit, US District Court for District of Delaware
    Location:
    USA
    Firm:
    White & Case

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