In June of 2007, Harvey gave the keynote address at the International Institute of Insolvency. In the address, Harvey asked the question, “Is the market headed for disaster?” He also says, “When the bubble bursts, those left holding today’s version of tulip bulbs may be left scratching their heads and pining for the past.” Little did Harvey (or anyone else) suspect that 15 months later, the collapse of Lehman Brothers would trigger a worldwide financial crisis.
Introduction
Anyone investing equity in an enterprise, whether creating a start-up or purchasing an established company, is a natural optimist. The hope is that the business will continue to perform well and yield its owners substantial profits year-after-year (and then maybe a hefty return upon exit). But, as those of us in restructuring know, not every company enjoys positive returns all the time. Businesses go through down cycles for different reasons – whether it be the overall economic climate (think 2008), issues specific to a particular industry (think dropping oil prices), a gr
More is more, right? Not according to the Bankruptcy Court for the Northern District of Florida. The court recently ruled that when a creditor tries to capture the maximum amount of collateral in its security interest, this could have the opposite effect and result in an entirely unsecured claim. As most creditors know, the treatment of a claim in bankruptcy is governed not only by the Bankruptcy Code, but also by state law.
This is the fourth post in our Bitcoin Bankruptcy series on the Weil Bankruptcy Blog.
As all restructuring eyes turn to Oil & Gas as the industry most likely to keep us busy in the coming months, we at the Weil Bankruptcy Blog want to make sure our readers are ahead of the gas curve (pun intended) in understanding the key issues that arise in this sector. With that in mind, today is the first in a Weil Bankruptcy Blog series, “Drilling Down,” which will look at emerging issues at the intersection of the oil and gas industry and bankruptcy law.
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
Are a debtor’s net operating losses considered property of the estate when they are reported on a consolidated tax return by a non-debtor parent? We previously wrote about this issue here.
Have you ever wanted to start your own marijuana cultivation and distribution business? Do you see billboards on the highway advertising pot-growing seminars and think, “Maybe I should go?” Does the grass seem greener on the other side?
“Okay. Here we go. The short, short version.” – The Minister, Spaceballs
“I meant what I said and I said what I meant.” – Horton Hatches the Egg, Dr. Seuss