On July 13, 2015, the Bankruptcy Court for the Southern District of New York 

When a contract is called a lease and has some characteristics of a lease, but operates to grant the lessee the exclusive right to mine and remove coal from the premises, how should the contract be treated in bankruptcy?  In a 

Attorney.  Counselor.  Advisor.  As “the last bastion of the generalist,” the role of the restructuring attorney takes various forms and requires a restructuring attorney to wear many different hats – at times acting both as lawyer and business advisor.  This combination of business and law is very often what draws professionals to the practice area in the first place.  The line, however, between business and legal advisor is often blurry and imprecise, and a recent 

In melodramatic movie weddings, guests are urged, before the couple is joined in matrimony, to “speak now or forever hold their peace” (although this phrase never seems to work its way into actual wedding ceremonies – presumably because there are no longer legitimate objections to a marriage that guests should be voicing at the wedding).

Interested chapter 11 plan investors, beware. A recent decision by the United States Court of Appeals for the Ninth Circuit held that even after the chapter 11 plan has been confirmed and substantially consummated and your money has been invested, an appeal can go forward even if a victory for the appellants would change the chapter 11 plan terms on which you relied and substantially diminish the value of your investment.

When is an agreement a true lease entitling the nondebtor lessee to possessory protections under section 365(h) of the Bankruptcy Code?  The United States Bankruptcy Court for the District of New Jersey addressed this issue in the 

Seeking to recharacterize a debt claim as an equity contribution to the debtor through the equitable powers of the bankruptcy court (something we’ve written about quite a bit in our blog) is one way to reduce creditor claims against the bankruptcy estate, but only in certain circuits.

Although almost all of an individual debtor’s assets become property of the estate upon a bankruptcy filing, certain exceptions exist to the rule at both the federal and state level.  In some jurisdictions, funds held for a debtor in retirement plans are exempt assets.  An open question, however, is whether payments distributed from such plans prior to the petition date are also exempt assets.  The United States Court of Appeals for the Tenth Circuit recently held in 

One of the primary business restructuring goals is the adjustment of a company’s burdensome obligations.  If a business is going to be reorganized, matching a company’s obligations to its value is key to the rehabilitation and “fresh start” concepts that underpin the Bankruptcy Code.

It has been a few years since we at the Blog have discussed the Barton doctrine, the common law bankruptcy rule requiring a party to seek leave from the appointing court before suing a court-appointed receiver (see here and