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    New Delaware Chapter 11 Filing - Real Industry, Inc.
    2017-11-17

    Real Industry Inc., a publicly traded holding company based in New York, has, along with seven subsidiaries and affiliates, including its only operating subsidiary, an aluminum recycling and alloy production company based in Beachwood, Ohio, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No.

    Filed under:
    USA, Insolvency & Restructuring, Cole Schotz PC, Bankruptcy, United States bankruptcy court, US District Court for District of Delaware
    Location:
    USA
    Firm:
    Cole Schotz PC
    New Delaware Chapter 11 Filing - Maurice Sporting Goods, Inc.
    2017-11-20

    Maurice Sporting Goods, Inc., along with four affiliates and subsidiaries, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 17-12481). Maurice, which is headquartered in Northbrook, Illinois, engages in the manufacturing, sourcing, distribution and wholesale of outdoor sporting goods products.

    Filed under:
    USA, Insolvency & Restructuring, Cole Schotz PC, Bankruptcy, United States bankruptcy court, US District Court for District of Delaware
    Location:
    USA
    Firm:
    Cole Schotz PC
    Truck Companies Use Shell Companies and Bankruptcy to Dodge Judgments
    2017-11-20

    A USA Today Network investigation revealed that some port trucking companies have used legal loopholes, shell companies, and bankruptcies to escape judgments by labor court judges. The ongoing investigation reveals that some port trucking companies serving top retailers use such tactics to take advantage of drivers.

    Filed under:
    USA, California, Employment & Labor, Insolvency & Restructuring, Stark & Stark, Federal Trade Commission (USA), California Labor Code
    Authors:
    Bryan M. Roberts
    Location:
    USA
    Firm:
    Stark & Stark
    Restaurants vs. Apparel: A Different Recipe for Restructuring A Retail Footprint
    2017-11-20

    With the holiday season now upon us, analysts are closely watching the restaurant industry, particularly the casual dining segment. Reminiscent of the conditions in 2008-2009, many are speculating whether the increase in online consumer shopping that served as a catalyst for the current “Retail Apocalypse” will reduce crucial holiday shopper foot traffic and push some teetering dining chains over the edge.

    Filed under:
    USA, Insolvency & Restructuring, Leisure & Tourism, Litigation, Real Estate, Bryan Cave Leighton Paisner (Bryan Cave)
    Authors:
    Andrew J. Schoulder
    Location:
    USA
    Firm:
    Bryan Cave Leighton Paisner (Bryan Cave)
    Impending Amendments to the Bankruptcy Rules Significantly Change a Secured Creditor’s Duties on Filing Claims
    2017-11-20

    In just a matter of days, on December 1, 2017, several amendments to the Federal Rules of Bankruptcy Procedure (the “Rules”) will go into effect, significantly altering the way creditors handle consumer-bankruptcy cases.

    Filed under:
    USA, Banking, Insolvency & Restructuring, Litigation, Adams and Reese LLP, Bankruptcy
    Authors:
    Timothy J. Anzenberger
    Location:
    USA
    Firm:
    Adams and Reese LLP
    Auto Dealership Bankruptcy - Three Important Considerations for Manufacturers
    2017-11-20

    When a dealership files for bankruptcy, a manufacturer will be faced with critical decisions regarding the proposed restructuring and the treatment of its dealer agreement. The bankruptcy code provides debtors with certain rights in order to maximize the recovery for creditors. Manufacturers must be cognizant of these rights in any dealer bankruptcy.

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Shipping & Transport, Nelson Mullins Riley & Scarborough LLP, Bankruptcy, Lanham Act 1946 (USA)
    Authors:
    H. Jason Gold , Dylan Trache
    Location:
    USA
    Firm:
    Nelson Mullins Riley & Scarborough LLP
    Can a Condo Association Recover Past-Due Amounts After Owner Files Bankruptcy?
    2017-11-20

    When a condo owner in arrears on assessments declares bankruptcy, a condo association often expresses concern about the effect of the bankruptcy on its ability to collect pre- and post-bankruptcy assessments.

    Filed under:
    USA, New Jersey, Insolvency & Restructuring, Litigation, Real Estate, Stark & Stark, Condominium
    Authors:
    Edward A. Berman
    Location:
    USA
    Firm:
    Stark & Stark
    United States: Tax Reform - Restructuring & Insolvency Related Provisions - Part 1 - Net Operating Losses
    2017-11-21

    Congress is attempting to pass tax reform legislation and presently the House of Representatives and the Senate have separate proposals under consideration (separately, H.R. 1 and the Senate Plan, respectively, and collectively, “Tax Reform”). The Tax Reform is changing daily, but one thing seems likely and that is that the Tax Reform will change the treatment of net operating losses (“NOLs”). These changes would have the most significant impact to bankruptcy cases filed after December 31, 2017.

    Filed under:
    USA, Insolvency & Restructuring, Tax, Baker McKenzie
    Authors:
    Patrick M. Cox
    Location:
    USA
    Firm:
    Baker McKenzie
    SunEdison Court Strikes Down Third-Party Releases On Multiple Grounds
    2017-11-21

    A recent decision by Bankruptcy Judge Stuart Bernstein, made in connection with plan confirmation in the SunEdison bankruptcy case, strikes down non-consensual third-party releases on a variety of bases. The decision analyzes issues regarding subject matter jurisdiction, the circumstances of deemed consent, and the applicable substantive requirements for a non-consensual release.

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Squire Patton Boggs, Subject-matter jurisdiction, United States bankruptcy court
    Authors:
    G. Christopher Meyer
    Location:
    USA
    Firm:
    Squire Patton Boggs
    The So-Called “Innocent Spouse” Defense to Denial of Discharge Under 11 U.S.C. § 727(a)(3)
    2017-11-22

    Under § 727(a)(3) of the Bankruptcy Code, a court shall not grant a debtor’s discharge if “the debtor has concealed, destroyed, mutilated, falsified, or failed to keep or preserve any recorded information, including books, documents, records, and papers, from which the debtor’s financial condition or business transactions might be ascertained, unless such act or failure to act was justified under all of the circumstances of the case.” To prevail under § 727(a)(3) an objecting party must establish that the debtor has failed to maintain or preserve records.

    Filed under:
    USA, Company & Commercial, Insolvency & Restructuring, Litigation, Burr & Forman LLP, Debtor
    Location:
    USA
    Firm:
    Burr & Forman LLP

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