HH Liquidation Preference Actions Filed in Delaware Starting on September 5, 2017, the Official Committee of Unsecured Creditors on behalf of the bankruptcy estates of HH Liquidation, LLC and its affiliated debtors (“Debtors”) filed approximately 178 complaints seeking the avoidance and recovery of allegedly preferential and/or fraudulent transfers under Sections 547 and 550 of the Bankruptcy Code. The Debtors filed voluntary petitions...
Money Center of America – Motion to Dismiss Denied In a decision signed September 8, 2017 in an adversary proceeding related to the Money Center of America bankruptcy (case 14-10603), Judge Sontchi of the Delaware Bankruptcy Court denied a defendants FRCP 12(b)(6) motion to dismiss a complaint filed in the adversary proceeding 15-50250. Judge Sontchi’s opinion is available here (the “Opinion”). The chapter 7 trustee...
Mutual Recognition- It takes two….. UK lawyers and restructuring professionals have been highlighting their concerns for British business and Financial Markets if the Government is unable to negotiate a bespoke treaty between the UK and the EU to preserve the mutual and reciprocal recognition provisions written into the Recast EU Insolvency Regulation (Recast EIR) and the Recast Brussels Regulation (the...… Continue Reading
Louisiana Department of Environmental Quality Issues an Updated Emergency Order – Hurricane Harvey By Tokesha Collins-Wright On September 1, 2017, the Louisiana Department of Environmental Quality (“LDEQ”) updated the emergency order that was issued by the Governor of Louisiana on Thursday, August 24, 2017. That earlier emergency order put the entire State of Louisiana under a declaration of emergency and was to remain in place until Friday, September... Continue Reading...
For whom the bell tolls! – Financial distress in the education sector The new school year is upon us and once again the education sector (and particularly funding for institutions from primary school right through to further education) is in the spotlight at a time when growth continues to stagnate. Education providers are continuing to encounter financial risk as a result of increase in investment requirements outstripping growth. These factors coupled with...… Continue Reading
Judge Strikes Down OT Rule By A. Edward Hardin, Jr., Brian R. Carnie, and Erin L. Kilgore A Federal District Judge in Texas struck down an Obama administration Department of Labor Wage and Hour Division rule that would have nearly doubled the salary basis requirement for some exempt employees.  Had the rule remained in place, for certain exempt employees, employers... Continue Reading...
Section 365(h) of the Bankruptcy Code provides tenants special protections in the event their landlord files for bankruptcy, by giving tenants the option of retaining their possessory rights under their leases, notwithstanding the landlord’s rejection of such leases.  A question that has divided courts across the county is what happens to a tenant’s possessory interest … Continue Reading
Kean Miller Flood Resources Unprecedented flooding has severely impacted the City of Houston and Southeast Texas due to Hurricane Harvey.  In August 2016, South Louisiana and the Capital Region were affected by a major rain and flood event.  In response, Kean Miller created the South Louisiana Flood section of our Louisiana Law Blog as a legal resource for those... Continue Reading...