Bankruptcy courts typically rely on three valuation methods to determine a debtor’s enterprise value: comparable company analysis, precedent transaction analysis, and discounted cash flow analysis.
In a unanimous decision, the New York Court of Appeals stuck a dagger through the heart of bankruptcy estates of failed law firms as it declared that profits earned on matters that former partners of the failed firm take with them to their new employers are not property of the former firm. Those profits belong to the new firm that provides the legal services.
Readers may recall that, according to at least one bankruptcy court, chapter 9 debtors are not required to obtain bankruptcy court approval of compromises and settlements.
A foreign (non-U.S.) company can be dragged unwillingly into a U.S. bankruptcy case if the bankruptcy court has “personal jurisdiction” over the company.
As discussed in a prior blog entry, virtually any amount of property in the United States will enable most foreign entities to commence a case under chapter 11 of the Bankruptcy Code. But once that case is opened, there are a number of challenges that parties may raise to keeping the c
Nothing says “closure” quite like a termination agreement reaffirmed by a bankruptcy court – right?
The United States Bankruptcy Court for the Southern District of Texas in In re Waco Town Square Partners, L.P., et al. considered whether it had the authority to order a non-debtor to dismiss a state court lawsuit.
Since the early Nineties, Czech insolvency legislation has undergone a number of positive changes. Creditor position improved, including that of secured creditors, and the protection of both the debtor and the bankrupt has also been strengthened. Moreover, with the new Insolvency Act effective from 2008, reorganization began to be more widely used in addressing bankruptcies. In Czech insolvency procedure, however, certain problematic areas still remain. One of them involves frivolous insolvency petitions filed by both creditors and debtors themselves.