As a company turns in the widening gyre of financial distress, its directors and officers are often confronted with situations that require them to make difficult decisions. Should things fall apart, those decisions may give rise to claims that directors or officers breached their fiduciary duties to the company. A 

In the first part of our two-part series on 

Businesses with a global footprint require agile, sophisticated counsel possessing in-depth knowledge of the international aspects of bankruptcy and restructuring. The bankruptcy court 

The American Bankruptcy Institute Commission to Study the Reform of Chapter 11 today released its long-awaited, much-anticipated Final Report and Recommendations.

A debtor’s prepetition causes of action and other legal interests typically become property of the debtor’s estate under section 541 of the Bankruptcy Code. In a chapter 11 case, this often leaves the trustee (or debtor in possession) with the sole authority to pursue – or not pursue – such causes of action postpetition. Although the trustee is generally required to maximize the value of the estate, situations can arise where a trustee refuses to pursue litigation that is otherwise in the estate’s best interest.

Although likely not the intent of In re Siag Aerisyn, LLC, a recent decision from the United States Bankruptcy Court for the Eastern District of Tennessee Southern Division, some might argue that the opinion serves as a how-to guide for masking a capital contribution by an affiliate as a loan constituting bona fide debt.

When a contract looks like a lease, but operates more like a security agreement, how should the contract be treated in bankruptcy? The United States Bankruptcy Court for the District of Kansas recently considered this question in 

It’s that time of year again! The bankruptcy courts’ new rules, fees, and forms come into effect today. Just like news outlets this time of year summarize where you can find the best online deals, we thought we’d take the opportunity to review this year’s bankruptcy-related amendments. Consult your local listings bankruptcy rules, statutes and forms for more detail.

Rule Amendments

While some of us may have had turkey on the mind over the last few days following the Thanksgiving holiday, members of the U.S. House of Representatives clearly had more important things than turkey to ponder. Just yesterday, December 1, 2014, the House passed H.R. 5421, the Financial Institution Bankruptcy Act of 2014.

Thanksgiving is the quintessential American holiday. Many go to great lengths to ensure that their Thanksgiving dinner table is replete with all of the traditional Thanksgiving fare: turkey, stuffing, yams covered in marshmallow, and cranberry sauce. While some folks are perfectly happy to buy a pre-made Thanksgiving meal, others must make all of their Thanksgiving fare themselves.