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    Bankruptcy courts remain closed for marijuana businesses
    2015-04-24

    As Seen in Law 360

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Dinsmore & Shohl LLP, Bankruptcy, Medical cannabis, Cannabis, Controlled Substances Act 1971 (USA)
    Authors:
    John M. Spires
    Location:
    USA
    Firm:
    Dinsmore & Shohl LLP
    Bankruptcy Court “right-swipes” debtor’s property interest in its social media accounts
    2015-04-21

    It’s nothing new in 2015 to say that social media has become a valuable part of any company’s marketing and public relations strategy.  Companies now rely on sites like Facebook and Twitter to communicate with customers, advertise products, build brands, and shape public opinion.   Despite the obvious value such accounts provide, however, it is not always clear what rights, if any, a company may have in a social media accounts associated with its businesses or brands. 

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Media & Entertainment, Weil Gotshal & Manges LLP, United States bankruptcy court
    Location:
    USA
    Firm:
    Weil Gotshal & Manges LLP
    PACA claims in bankruptcy
    2015-04-21

    The Perishable Agricultural Commodities Act of 1930 (“PACA”), as amended, 7 U.S.C. §§ 499(a)et seq. provides federal statutory protection to certain qualifying sellers of perishable agricultural products. Congress amended PACA in 1984 to establish a statutory trust for the benefit of all unpaid suppliers or sellers of perishable agricultural commodities or products.  PACA defines perishable agricultural commodities as “fresh fruit and fresh vegetables of every kind and character,” whether or not frozen or packed in ice, and cherries in brine. 7 USC § 499(b).

    Filed under:
    USA, Insolvency & Restructuring, DelCotto Law Group PLLC, Bankruptcy, Commodity
    Authors:
    Jamie L. Harris
    Location:
    USA
    Firm:
    DelCotto Law Group PLLC
    Supreme Court denies petition for Writ of Certiorari in bankruptcy proof of claim case
    2015-04-21

    Yesterday, the United States Supreme Court denied the Petition for Writ of Certiorari in LVNV Funding, LLC v. Crawford.  The Court's refusal to hearCrawford leaves a split in the circuits as to whether proofs of claim are subject to the FDCPA.

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Smith Debnam Narron Drake Saintsing & Myers LLP, Supreme Court of the United States
    Authors:
    Caren Enloe
    Location:
    USA
    Firm:
    Smith Debnam Narron Drake Saintsing & Myers LLP
    Bankruptcy Judge rules ignition switch plaintiffs cannot un-bake GM’s cake
    2015-04-21

    As we previewed last week, the U.S. Bankruptcy Court for the Southern District of New York recently handed General Motors (“New GM”) an enormous victory that may end up shielding the company from up to $10 billion in successor liability claims.

    Filed under:
    USA, New York, Insolvency & Restructuring, Litigation, Squire Patton Boggs, Due process, General Motors, Title 11 of the US Code, United States bankruptcy court
    Authors:
    Mark A. Salzberg , Andrew M. Simon
    Location:
    USA
    Firm:
    Squire Patton Boggs
    US SDNY Bankruptcy Court finds bank violated automatic stay by placing administrative freeze on debtor’s bank account
    2015-04-21

    Chief Judge Cecelia G. Morris of the Bankruptcy Court for the Southern District of New York decided that banks may not place an administrative freeze, even a temporary one, on the bank account of an individual who files for bankruptcy.

    Filed under:
    USA, New York, Banking, Insolvency & Restructuring, Litigation, ArentFox Schiff, United States bankruptcy court, US District Court for the Southern District of New York
    Authors:
    George P. Angelich , Manuel G. Arreaza
    Location:
    USA
    Firm:
    ArentFox Schiff
    Bankruptcy Court: New GM is ‘free and clear’ of Old GM’s ignition switch economic loss claims
    2015-04-22

    Parties to all legal proceedings - including bankruptcy proceedings - are entitled to Constitutionally protected due process rights, including reasonable notice and an opportunity to be heard. In the bankruptcy context, the debtor must give known creditors reasonable notice of certain critical events, including the sale of the debtor’s assets and the deadline to file claims against the debtor.

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Troutman Pepper, Bankruptcy, Due process, United States bankruptcy court
    Authors:
    Henry J. Jaffe , Lesley S. Welwarth
    Location:
    USA
    Firm:
    Troutman Pepper
    RadioShack’s bankruptcy snafu; state AGs object
    2015-04-22

    Providing an important reminder about the intersection of privacy promises and bankruptcy, the Texas Attorney General has filed an order to halt the sale of customer information in RadioShack’s bankruptcy.  

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Manatt Phelps & Phillips LLP, Bankruptcy
    Location:
    USA
    Firm:
    Manatt Phelps & Phillips LLP
    Retail chapter 11 filings up, bucking bankruptcy trends in economic recovery
    2015-04-22

    The economy is humming along and bankruptcy filings are at historic lows.  http://www.prweb.com/releases/2015/01/prweb12432257.htm.   Nevertheless, a recent trend in retail may suggest that the times, they are a changing.

    Filed under:
    USA, Insolvency & Restructuring, Greenberg Glusker Fields Claman & Machtinger LLP, Retail
    Authors:
    Jeffrey A. Krieger
    Location:
    USA
    Firm:
    Greenberg Glusker Fields Claman & Machtinger LLP
    Tweet all about it: U.S. Bankruptcy Court rules business social media accounts are property of debtor LLC's bankruptcy estate, not individual LLC members
    2015-04-22

    In a case of first impression in Texas, the United States Bankruptcy Court for the Southern District of Texas held that the former majority member of a chapter 11 LLC debtor had to relinquish control of the LLC's Facebook page and Twitter account because they were property of the LLC's bankruptcy estate. In re CTLI, LLC, Case No. 14-33564, 2015 WL 1588085 (Bankr. S.D. Tex. April 3, 2015). CTLI, LLC was a Texas gun store and shooting range doing business as Tactical Firearms.

    Filed under:
    USA, Texas, Insolvency & Restructuring, Internet & Social Media, Litigation, Duane Morris LLP, Debtor, Limited liability company, Twitter, United States bankruptcy court, US District Court for Southern District of Texas
    Authors:
    Lauren Lonergan Taylor , Rudolph J. Di Massa, Jr. , Rosanne Ciambrone , Ron Oliner
    Location:
    USA
    Firm:
    Duane Morris LLP

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