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New York Law Journal

Recent Case Law Developments Concerning the Discharge Injunction

The consumer bankruptcy system is predicated upon an honest debtor being able to receive a fresh start. The discharge injunction is the judicial order that effectuates the fresh start.
7 minute read

Law.com

Chapter 11 Preferred Equity In Peril?

Two Recent Cases Shed Light on Potential Risks to Preferred Equity Holders in Chapter 11 Preferred equity is a varied and flexible instrument, but, in practice, it typically has a limited number of common features. One feature is that it is entitled to a "liquidation preference" ahead of common stock. Whether the liquidation preference of preferred equity entitles preferred shareholders to priority over common shareholders in a Chapter 11 reorganization is a question that figured prominently in two recent high profile cases.
10 minute read

The Legal Intelligencer

Alternative Methods for the Retention of Estate Professionals Are Appropriate in 'Unusual Cases'

Section 327(a) of the Bankruptcy Code allows debtors to employ estate professionals. The section requires these professionals to be "disinterested persons" who "do not hold or represent an interest adverse to the bankruptcy estate."
10 minute read

New York Law Journal

The Current State of Non-Consensual Third-Party Releases in Chapter 11 Bankruptcy Cases

Two recent District Court cases, 'In re Purdue Pharma' and 'Patterson v. Mahwah Bergen Retail Group' have called into question whether Bankruptcy Courts have the authority to approve non-consensual third-party releases.
8 minute read

New York Law Journal

Notable Developments in Mallinckrodt, CPAP, Valsartan, Southern Baptist Convention, and Camp Lejeune Cases

This column discusses recent developments in pharmaceutical, medical device and contaminant exposure cases.
5 minute read

Legaltech News

Can Software Engage in the Unauthorized Practice of Law?

Recent bankruptcy proceedings landed software provider Upsolve in hot water in Maryland, showing just how far today's software is allowed to go before it infringes upon unauthorized practice of law issues.
9 minute read

The Recorder

Bankruptcy Trustee Proposes Sept. 21 Auction of Tom Girardi's Personal Belongings

The trustee, on Tuesday, said possible auction items could be 'a Steinway piano, furniture, art, religious icons, statues, lamps, rugs, ceramics and glassware, clothing and shoes, and sports memorabilia.'
4 minute read

Daily Business Review

A Mortgage Statement May be Deemed a Communication Under the FDCPA and FCCPA

Since many mortgage and other loan statements have all or part of this verbiage as standard "boiler plate" language, the decision needs to be a wake-up call for lenders and their attorneys.
5 minute read

New York Law Journal

Third Circuit Confirms That Bankruptcy Code Governs Retention of Debtor's Counsel and Recognizes That Bankruptcy Court Has Considerable Discretion

The Third Circuit confirmed that §327 governs retention of counsel. Moreover, it determined that a review of potential conflicts is committed to the discretion of the bankruptcy court and stated that the analysis on review includes whether the bankruptcy court appropriately exercised its discretion in determining that disqualification was not a fitting remedy in the circumstance.
9 minute read

The American Lawyer

Paul Weiss to Lead Multibillion-Dollar Revlon Bankruptcy

The 90-year-old cosmetic company filed for bankruptcy in New York this week and turned to Paul Weiss' Paul Basta as lead counsel.
2 minute read

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