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    Third Circuit Applies More Flexible Standard for WARN Exemption
    2017-08-24

    The Bottom Line:

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP, Worker Adjustment and Retraining Notification Act 1988 (USA), Third Circuit
    Authors:
    Megan M. Wasson
    Location:
    USA
    Firm:
    Kramer Levin Naftalis & Frankel LLP
    In re Stapp
    2017-08-24

    (Bankr. S.D. Ind. Aug. 21, 2017)

    Filed under:
    USA, Indiana, Insolvency & Restructuring, Litigation, Stoll Keenon Ogden PLLC
    Authors:
    Matt Lindblom
    Location:
    USA
    Firm:
    Stoll Keenon Ogden PLLC
    Fla. App. Court (5th DCA) Reverses Foreclosure Judgment That Excluded Interest, Escrow
    2017-08-24

    The District Court of Appeal of the State of Florida, Fifth District, recently reversed final judgment of foreclosure entered in favor of a mortgagee that omitted interest and escrow amounts due, and remanded to the trial court to modify judgment to include these amounts.

    In so ruling, the 5th DCA determined that the mortgagee met its burden to provide the trial court with figures necessary to calculate the interest and escrow amounts through its witnesses’ testimony and evidence.

    Filed under:
    USA, Florida, Banking, Insolvency & Restructuring, Litigation, Real Estate, Maurice Wutscher LLP, Foreclosure
    Location:
    USA
    Firm:
    Maurice Wutscher LLP
    “Spanish Peaks” and Leases in a Landlord’s Bankruptcy - Tenants Beware!
    2017-08-25

    The recent Spanish Peaks decision from the Ninth Circuit (covering Alaska, Arizona, California, Hawaii, Idaho, Montana, Nevada, Oregon and Washington) deepens the split in case law on the ability to strip off leases in a landlord/borrower bankruptcy.

    Filed under:
    USA, Banking, Insolvency & Restructuring, Litigation, Real Estate, Pillsbury Winthrop Shaw Pittman LLP, Ninth Circuit, United States bankruptcy court, Seventh Circuit
    Authors:
    Caroline A. Harcourt
    Location:
    USA
    Firm:
    Pillsbury Winthrop Shaw Pittman LLP
    No Easy Way Out: Legal Malpractice Defendants Desiring an Alternative Forum May Be Forced to Litigate in Bankruptcy Court until the Case is “Trial Ready”
    2017-08-25

    Some legal malpractice defendants are content to litigate claims asserted by debtors in the bankruptcy court. But many others, fearing that the debtor’s creditors may view them as a deep-pocketed resource to augment their own recoveries, would prefer to defend malpractice claims in what they view as a more neutral forum.

    Filed under:
    USA, Insolvency & Restructuring, Legal Practice, Litigation, Patterson Belknap Webb & Tyler LLP, Malpractice, US District Court for Southern District of Florida
    Location:
    USA
    Firm:
    Patterson Belknap Webb & Tyler LLP
    Illinois Case Demonstrates Need for Changes to UCC Article 9
    2017-08-28

    A bankruptcy case in Illinois highlights the need for the amendments to Uniform Commercial Code Article 9 which will be effective in Indiana and many other states.

    Filed under:
    USA, Illinois, Insolvency & Restructuring, Litigation, Stoll Keenon Ogden PLLC
    Authors:
    Clayton C. Miller
    Location:
    USA
    Firm:
    Stoll Keenon Ogden PLLC
    Delaware Court Holds that Trademark License Cannot be Assigned Without Consent
    2017-08-28

    The Delaware bankruptcy court recently decided that a debtor could not assign a trademark license absent the consent of the licensor. The court concluded that federal trademark law and the terms of the license precluded assignment without consent. Because the debtor could not assign the license under any circumstances (consent was not forthcoming), the court held that cause existed to annul the automatic stay to permit the licensor to “move on with its trademark and its business.”

    Filed under:
    USA, Delaware, Insolvency & Restructuring, Litigation, Trademarks, Mintz, Debtor, Third Circuit
    Location:
    USA
    Firm:
    Mintz
    New Delaware Chapter 11 Filing - USAE, LLC
    2017-08-22

    USAE, LLC, f/k/a U.S. Aerospace LLC, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Case No. 17-11778). Based in Wilmington, DE, USAE produces aircraft assemblies, structural components and highly engineered, precision machined details for the U.S. Government, U.S. Airforce and companies such as Lockheed Martin and Boeing.

    Filed under:
    USA, Insolvency & Restructuring, Cole Schotz PC
    Authors:
    Norman L. Pernick , Nicholas J. Brannick
    Location:
    USA
    Firm:
    Cole Schotz PC
    The “Absolute Priority Rule” and Other “Rules” of “Priority” in Bankruptcy
    2017-08-22

    Phil Anker, in this article published by DailyDAC's Commercial Bankruptcy Alternatives, explores the “Absolute Priority Rule” and other “Rules” of “Priority” in bankruptcy, and if they really are “absolute,” if they really are “rules,” and if they always provide “priority” to some claimants over others.

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Wilmer Cutler Pickering Hale and Dorr LLP, Bankruptcy, Leveraged buyout, Debtor in possession
    Location:
    USA
    Firm:
    Wilmer Cutler Pickering Hale and Dorr LLP
    The Key to Having Peace of Mind When Filing for Bankruptcy
    2017-08-23

    Filing for bankruptcy is one of the most challenging experiences you can ever have. In fact, the things that happen before bankruptcy – calls from debt collectors, receiving garnishments, and the fear of losing your investments including your home and your car – can drive anyone to physical and mental exhaustion.

    Filed under:
    USA, Insolvency & Restructuring, BakerHostetler
    Location:
    USA
    Firm:
    BakerHostetler

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