John J Rapisardi

February 23, 2023 | New York Law Journal

In this installment, the authors evaluate two constitutional issues arising from third-party releases: whether creditor consent to be bound by a third-party release is required to satisfy the due process clause of the Fifth and Fourteenth Amendments to the U.S. Constitution; and whether bankruptcy courts have constitutional authority to issue final orders granting third-party releases in a plan of reorganization under Stern v. Marshall.

By John J. Rapisardi and Jacob T. Beiswenger

17 minute read

November 02, 2022 | New York Law Journal

The District Court's holding reverses some of the potentially harmful consequences of the lower court's decision—which, if affirmed, would have undermined the Bankruptcy Code's statutory protections intended to encourage parties to transact with debtors in bankruptcy.

By John J. Rapisardi and Matthew Kremer

10 minute read

May 26, 2022 | New York Law Journal

This two-part article will examine the role of third-party releases in successful Chapter 11 reorganizations. This installment will address the factors considered in each Circuit where such releases have been deemed permissible within the confines of the Bankruptcy Code, evaluate several recent cases highlighting the uncertainty created by the current Circuit split, and consider options for creating a clear, nationwide standard.

By John J. Rapisardi and Jacob T. Beiswenger

14 minute read

June 05, 2020 | New York Law Journal

In this article, the authors discuss some existing guidance from bankruptcy courts addressing force majeure clauses, including a number of cases from the last financial crisis.

By John J. Rapisardi and Joseph Zujkowski

8 minute read

April 27, 2020 | New York Law Journal

Recently, two bankruptcy courts issued opinions in favor of midstream operators that either distinguish or expressly disagree with the Second Circuit's findings in the 'Sabine'. In their Bankruptcy Practice column, John J. Rapisardi and Joseph Zujkowski discuss the decisions and provide a checklist of key questions investors should consider in determining the likelihood that an upstream operator will be able to shed covenants made to a midstream operator if the upstream operator commences a Chapter 11 case.

By John J. Rapisardi and Joseph Zujkowski

12 minute read

November 15, 2019 | New York Law Journal

In their Bankruptcy Practice column, John J. Rapisardi and Joseph Zujkowski discuss 'In re Peabody Energy', a decision that represents a growing judicial trend toward enhancing bondholder recoveries under plan support agreements, which serve as the necessary "grease" to garner critical support and momentum for the debtor's Chapter 11 plan.

By John J. Rapisardi and Joseph Zujkowski

11 minute read

January 15, 2019 | New York Law Journal

In this Bankruptcy Practice column, John J. Rapisardi and Daniel Shamah write: The challenges PG&E has faced since wildfires began consuming large swaths of California are well-known and has fueled speculation about a bankruptcy filing. But less well-understood and appreciated are the legal and regulatory issues confronting PG&E and other similarly-situated California utilities. As we'll see, those legal and regulatory issues present critical complications in a potential second PG&E bankruptcy.

By John J. Rapisardi and Daniel Shamah

10 minute read

August 24, 2018 | New York Law Journal

In our June 8, 2016 column, we discussed the U.S. Bankruptcy Court for the Southern District of New York's (the Bankruptcy Court) opinion in the Sabine Chapter 11 cases allowing Sabine (a large Houston-based “upstream operator”) to reject “gathering agreements” with certain “midstream operators.”

By John J. Rapisardi and Joseph Zujkowski

10 minute read

December 12, 2017 | New York Law Journal

In their Bankruptcy Practice column, John J. Rapisardi and Joseph Zujkowski begin an analysis of the long awaited Second Circuit opinion addressing objections to Momentive Performance Materials' Chapter 11 plan in 'In re MPM Silicones'.

By John J. Rapisardi and Joseph Zujkowski

8 minute read

June 07, 2017 | New York Law Journal

In their Bankruptcy Practice column, John J. Rapisardi and Joseph Zujkowski write: At the end of last year, the Third Circuit added to several recent decisions addressing whether a creditor was entitled to payment of a "make whole" premium in connection with a Chapter 11 case. The opinion is the most creditor-friendly decision issued to date on this issue, as the court found that the refinancing of certain first and second lien notes after the Chapter 11 cases were commenced triggered payment of a "make whole" premium.

By John J. Rapisardi and Joseph Zujkowski

10 minute read