Delaware Business Court Insider | Commentary
By Barry M. Klayman and Mark E. Felger | August 4, 2021
It is a well-established ethical principle that, in general, a lawyer who represents a client in a litigated matter may not also appear as a witness in the same matter, whether for or against the client.
The Legal Intelligencer | Commentary
By Francis J. Lawall and Kenneth A. Listwak | July 29, 2021
The preferred method of acquiring distressed assets from an owner facing significant liabilities is often through a sale under Section 363 of the Bankruptcy Code. In fact, many practitioners today view Chapter 11 as more of a vehicle to convey assets rather than reorganizing around them.
Delaware Business Court Insider | Commentary
By Kerri K. Mumford and Jennifer L. Cree | July 21, 2021
The U.S. Court of Appeals for the Third Circuit recently issued a precedential decision involving a matter of first impression that likely will modify how pharmaceutical and other distributors and their related entities structure their business dealings with manufacturers and others with analogous arrangements.
The Legal Intelligencer | Commentary
By Maxwell Briskman Stanfield | July 19, 2021
The London Interbank Offered Rate (LIBOR) is not much longer for this world, with the reference rate on track to be discontinued in most of the world by the end of the year and for certain U.S. dollar (USD) transactions by 2023.
The Legal Intelligencer | Commentary
By Andrew C. Kassner and Joseph N. Argentina Jr. | July 8, 2021
The Bankruptcy Code encourages service and good suppliers to continue to do business with a company in Chapter 11 by providing that amounts owed for post-petition services and deliveries are eligible to receive administrative claim status if they provide a benefit to the estate, meaning that their claims are paid in full before pre-petition unsecured claims.
Delaware Business Court Insider | Commentary
By Albert H. Manwaring IV | July 7, 2021
A proper balance between the stockholders' right to elect directors and the board's right to manage the company is dependent on the stockholders' unimpeded right to vote in an election of directors.
Delaware Business Court Insider | Commentary
By Barry M. Klayman and Mark E. Felger | June 30, 2021
What law determines whether a "business trust" may be an eligible debtor under Chapter 11? There is a split of authority as to whether the law of the jurisdiction in which the trust resides or federal common law controls.
The Legal Intelligencer | Commentary
By Rudolph J. Di Massa, Jr. and Drew S. McGehrin | June 25, 2021
As a continuation of the ongoing disputes that began with a challenged "structured dismissal" in the Jevic Holdings Corp. bankruptcy case, the U.S. Bankruptcy Court for the District of Delaware recently rendered a decision addressing the rights and obligations of a trustee who has been appointed after a debtor's Chapter 11 case converts to one under Chapter 7 of the Bankruptcy Code.
Delaware Business Court Insider | Commentary
By Sara Thompson | June 23, 2021
Section 220 of the General Corporation Law of the State of Delaware provides stockholders with the right to inspect the books and records of a corporation for a "proper purpose" that is "reasonably related to such person's interest as a stockholder."
The Legal Intelligencer | Commentary
By Francis J. Lawall and Patrick M. Ryan | June 23, 2021
Until recently, the amount of the quarterly fees assessed differed depending upon whether a U.S. trustee or bankruptcy administrator was employed in the district where the case was pending.
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