Sports Authority, Inc. (“Sports Authority”) appears to likely be the next big tenant Chapter 11 bankruptcy filing.
Under the Bankruptcy Code, a reorganization plan may be approved if (1) proposed in “good faith” under § 1129(a)(3), and (2) accepted by at least one class of creditors whose interests are impaired by the plan, see 11 U.S.C. § 1129(a)(10).
Senator Lyndia Brasch has sponsored a bill in the Nebraska legislature to increase the amount of personal property protected in Nebraska bankruptcy cases.
On February 2, 2016, Hancock Fabrics, Inc. and 6 affiliates filed for relief under chapter 11 of the Bankruptcy Code.
Maybe you have seen the words “debt relief agency” on a lawyer’s website or other marketing materials.
Depriving local governments of tax revenue is like cutting off oxygen to the body–they can’t live without it.
Here in the Central District of California, nearly 25% of all bankruptcy filings are made without a lawyer.
In Wong v. Luu, the British Columbia Court of Appeal upheld an order requiring the production of a redacted trust ledger to the bankruptcy trustees for Luu Hung Viet Derrick (“Luu”) on the grounds that the trust ledger was not presumptively privileged and that production would not violate the bankrupt’s right to communicate in confidence with his lawyers.
With the willingness of lenders to enter into loan modifications after filing a foreclosure action, there are a growing number of orphan cases remaining open on courts’ dockets.
Last June, the Supreme Court issued a ruling in Baker Botts LLP v. ASARCO, LLC, which dramatically altered expectations that had previously been fairly widely accepted in many areas – the right of professionals representing debtors and creditors committees to be reimbursed by the estate for fees incurred in defending objections to their fees.