The COVID-19 pandemic hit the bottom line of many businesses. Among the hardest hit industries has been the travel industry and, in particular, airlines and aviation companies. Many airlines are still struggling to generate new ticket sales as compared to pre-pandemic levels and average fares remain depressed.1 One industry source predicts that passenger numbers will not return to 2019 levels prior to 2024.2 Compounding this are increased costs of fuel (up 35% so far this year) and other expenses.3
In this Throwback Thursday piece, we revisit the Seventh Circuit’s landmark decision Levit v. Ingersoll Rand Financial Corp. (In re Deprizio), better known as Deprizio. This decision was a contender for best quote in a case in Weil’s 2014 March Madness competition. As we noted then, “Mr.
As we previously reported, on April 1, 2015, the Supreme Court heard oral argument inBullard v.
The United States Bankruptcy Court for the Southern District of Texas in In re Waco Town Square Partners, L.P., et al. considered whether it had the authority to order a non-debtor to dismiss a state court lawsuit.
We resume our ongoing coverage of the Report of the American Bankruptcy Institute’s Commission to Study the Reform of Chapter 11 as it relates to exiting the chapter 11 case. A prior post highlighted key proposals about plan voting, and today’s post discusses key proposals about plan settlements, exculpation and release provisions, and exit orders.
A recent decision out of the United States Court of Appeals for the Second Circuit serves as a powerful reminder of why lawyers are taught to take care in even the most ministerial of tasks. In Official Comm. of Unsecured Creditors of Motors Liquidation Co. v. JPMorgan Chase Bank, N.A.
In a recent decision by the Second Circuit, Lucas v. Dynegy Inc. (In re Dynegy, Inc.), No. 13-2581 (2d. Cir. Oct.
Should a membership agreement governing a debtor’s interest in an LLC be treated as property of the estate or an executory contract? Equally, should a debtor’s economic and non-economic interests in an LLC be treated as property or a contractual right? Can’t make up your mind? Don’t worry—the bankruptcy courts can’t either.
In the well-known children’s story book written by P.D. Eastman and edited by beloved Dr. Seuss, a baby bird embarks on a quest to find his mother, asking a hen, a dog, and a kitten, among others, the famous question, “Are you my mother?” If Dr. Seuss had penned the recently-decided case of Thielman v. MF Global Holdings, Ltd.
This article has been contributed to the blog by Caitlin Fell and Mary Angela Rowe. Caitlin Fell is an Associate in the Insolvency & Restructuring group of Osler, Hoskin & Harcourt LLP.