The Effect of the Uniform Commercial Code On Certain Limited Liability Company Transfer Restrictions in Louisiana

By | Louisiana Law Blog | August 10, 2017
By Amanda Bourgeois The substantial flexibility afforded by the limited liability company structure has made it an increasingly popular business entity choice.  Indeed, most of the default provisions in the Louisiana Limited Liability Company Law, La. R.S. 12:1301, et seq. (the “La LLC Law”) may be altered or superseded by the articles of organization or operating agreement of the limited liability company.  View Full Post
Tweet Like LinkedIn LinkedIn Google Plus

New Chapter 11 Filing – Peekay Acquisition, LLC

Peekay Acquisition, LLC, along with sixteen (16) of its affiliates and subsidiaries, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 17-11722).  Headquartered in Auburn, Washington, Peekay is a leading specialty retailer of a broad selection of lingerie, sexual health and wellness products and accessories.  View Full Post
Tweet Like LinkedIn LinkedIn Google Plus

Corporate Restructurings Gaining Ground in Poland

Before Polish insolvency law was significantly amended in January 2016,  restructurings were extremely rare, with corporate insolvencies ending in liquidation in more than 90% of all cases. At that point, the number of insolvencies ending in the liquidation of the debtor’s assets significantly exceeded successful restructurings – the focus had been mainly on satisfying the creditors – and allowing the debtor to continue his business was not a major priority for the legislator and the courts. View Full Post
Tweet Like LinkedIn LinkedIn Google Plus

Class Action Waivers Are Enforceable Even Without an Arbitration Agreement, Says the Fifth Circuit

By | Louisiana Law Blog | August 9, 2017
By Erin L. Kilgore and Scott D. Huffstetler On Monday, a Fifth Circuit majority held that a class-action and collective action waiver was enforceable, regardless of whether or not the waiver was part of an arbitration agreement.  This is good news for employers in the Fifth Circuit who do not want to have mandatory arbitration agreements with employees, but do want to have safeguards in place to prevent class and/or collective actions. View Full Post
Tweet Like LinkedIn LinkedIn Google Plus

New Delaware Chapter 15 Filing – Takata Corporation

Takata Corporation, a Japanese corporation, as well as two of its subsidiaries and affiliates have filed a petition for recognition of a foreign main proceeding in the Bankruptcy Court for the District of Delaware (Case No. 17-11713).  According to the statement of Takata Corporation as foreign representative, the Debtors currently in a Civil Rehabilitation Proceeding under the Civil Rehabilitation Act of Japan, Act No. View Full Post
Tweet Like LinkedIn LinkedIn Google Plus

Liquor Licences for Insolvency Practitioners: Recent Developments

By | eSQUIRE Global Crossings | August 9, 2017
Although figures revealed last year indicated that the number of pub closures had fallen, more recent data suggests that the restaurant sector is now at greater risk of insolvency due to Brexit. Empty Glasses in RestaurantThis is due to rising costs which has resulted in the stagnation of disposable income (accountants Moore Stephens, for example, warned of this at the end of last year). View Full Post
Tweet Like LinkedIn LinkedIn Google Plus

Lessees Left in Limbo

By | eSQUIRE Global Crossings | August 3, 2017
Do a lessee’s possessory interests in real property survive a “free and clear” sale of the property under section 363 of the Bankruptcy Code? In a recent decision, the Ninth Circuit Court of Appeals said “no,” holding that section 365(h) did not protect the interest of the lessee in the context of a section 363 sale when there had been no prior formal rejection of the lease under section 365. View Full Post
Tweet Like LinkedIn LinkedIn Google Plus

New Delaware Chapter 11 Filing- TerraVia Holdings, Inc.

TerraVia Holdings, Inc., a San Francisco-based specialty food company, and two of its affiliates have filed petitions for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Case No. 17-11655).  According to the First Day Declaration, the Debtors are seeking a sale of substantially all of their assets during the course of the cases and enter Chapter 11 with a stalking horse bidder, Corbion N.V.  View Full Post
Tweet Like LinkedIn LinkedIn Google Plus