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Connecticut Law Tribune

Money for Legal Fees but Not for Victims? Diocese Bankruptcy Scrutinized

About $2 million hangs in the balance, possibly going to settlements or toward attorney fees.
4 minute read

Litigation Daily

Litigators of the Week: The Eighth Circuit Knocks Out a $564M Verdict Against BMO in Ponzi Case

Debevoise's John Gleeson, Mayer Brown's Richard Spehr and Elaine Goldenberg of Munger Tolles helped convince the Eighth Circuit that the bankruptcy trustee of a company run by a convicted Minnesota Ponzi schemer couldn't pursue aiding and abetting claims against the bank because the company bore responsibility for its own injury.
10 minute read

New York Law Journal

Noncompete Agreements Survive the FTC and a Noncompete Provision Survives Rejection

Debtors should carefully consider the impact of these contingencies in evaluating whether noncompete clauses survive rejection. Stepping back, companies should also review how they use noncompetes and explore other methods of safeguarding confidential data, intellectual property and trade secrets.
8 minute read

New York Law Journal

Evaluating Credit of a Privately-Held Company Without Getting Financial Statements

How do you check on a company's creditworthiness when the company is privately held and does not make its financial statements publicly available? The answer is that you need to check alternative sources of information for hints as to whether the company is experiencing problems.
7 minute read

Law.com

Avoiding Double-Dipping: U.S. Trustee Fees and Creditor Trusts

The U.S. Trustee has recently taken the position that GUC Trusts (creditor trusts formed under bankruptcy plans) should be required to pay fees on account of their own disbursements to creditors. The outcomes in three recent bankruptcy cases highlight different approaches to addressing the U.S. Trustee's argument: closing bankruptcy cases early, deferring the issue to a later date, or focusing on the distinction between contingent and non-contingent assets.
10 minute read

New Jersey Law Journal

Convicted of Theft, Law Firm CFO Denied Bankruptcy Protection

The judge dismissed the bankruptcy after McElroy Deutsch asserted that John Dunlea's "Chapter 11 petition is intended to frustrate the legitimate efforts of a creditor to enforce its rights against the debtor."
4 minute read

Daily Business Review

Judge Approves Sale of Hospitals to Orlando Health

U.S. Bankruptcy Judge Christopher Lopez issued an order approving the sale of three hospitals in Brevard and Indian River counties to Orlando Health.
1 minute read

Daily Business Review

Judge to Weigh Orlando Health's Hospitals Deal

A bankruptcy judge is scheduled Tuesday to hold a hearing on Orlando Health's proposed purchase of three hospitals in Brevard and Indian River counties,…
3 minute read

The Legal Intelligencer

Third Circuit Collapses Transaction to Avoid Fraudulent Conveyance

In a recent decision, the U.S. Court of Appeals for the Third Circuit employed such an analysis and ordered the unwinding of a transaction involving transfers which passed through multiple related parties.
7 minute read

The Legal Intelligencer

Possession for Lenders Is Not 100% of the Law

Two opinions illustrate the ways the bankruptcy code can present significant risks to lenders even after the lender receives payments in accordance with loan agreements or even a court order.
9 minute read

More from ALM

More from ALM

Legal Speak is a weekly podcast that makes sense of what’s happening in the legal industry.

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