Law 360 M&A

DECEMBER 11, 2023

Liberty Tax parent NextPoint Financial on Monday got recognition from a Delaware bankruptcy judge of a Canadian court approval of the sale of its business, clearing the way for Liberty to be acquired by stalking horse bidder BP Commercial.

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Law 360 M&A

JANUARY 4, 2024

rejoined Thursday as a partner in the firm's business practice group following the electric-vehicle maker filing for bankruptcy last year. A former BakerHostetler partner who left the firm to serve as general counsel during a rocky time at now-defunct Lordstown Motors Corp.

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Law 360 M&A

DECEMBER 20, 2023

With the curtain closing on 2023, bankruptcy experts say the past year has featured cases and legal issues of great importance to the practice area that will have implications for years to come.

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Law 360 M&A

MAY 19, 2022

A vice chancellor's swift denial of an unusual request that a company winding down in a state liquidation get a stay of litigation comparable to that in the federal Bankruptcy Code is a signal to companies seeking bankruptcy alternatives in Delaware that Chancery Court may have had enough.

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Law 360 M&A

APRIL 23, 2023

Home goods retailer Bed Bath & Beyond filed its long-anticipated bankruptcy Sunday morning, seeking Chapter 11 protection in New Jersey bankruptcy court with $5.2 billion in debt after years of declining sales and store closures.

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Reynolds Holding

APRIL 9, 2024

Goldblatt denied motions filed by multiemployer pension funds to arbitrate debtors’ objections to pension withdrawal liability claims in the United States Bankruptcy Court for the District of Delaware. When the debtors filed their chapter 11 bankruptcy petitions, Central States filed proofs of claim for $4.8

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Equity 45

BVR

MARCH 28, 2022

The bestselling Business Valuation and Bankruptcy: Case Law Compendium is out now and is in its third edition. It summarizes case law and provides insightful analysis on a range of bankruptcy topics. This must-have resource is replete with hard-won insights into the often challenging intersection of law and valuation.

Business Valuation 100

Business Valuation 100

Law 360 M&A

DECEMBER 18, 2023

Supreme Court issued four bankruptcy law opinions — an extraordinary number — and a close look at these cases signals that changes to the U.S. Bankruptcy Code will have to come from Congress, not the courts, says Phillip Shefferly at the University of Michigan Law School. In 2023, the U.S.

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Reynolds Holding

JUNE 9, 2022

In our recent paper , we use two experiments to estimate the effect of corporate bankruptcy on consumer demand for a bankrupt firm’s products. We find that learning about a Chapter 11 bankruptcy filing reduces a consumer’s willingness to pay for the bankrupt firm’s products by 18-35 percent, depending on the industry.

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Marketability Finance 105

Startup Valuation Blog

MARCH 13, 2023

Understanding the complex relationship between bankruptcy risk and company valuation is crucial for businesses of all sizes and industries. On the one hand, if a firm has substantial exposure to a banking institution that is subject to high levels of bankruptcy risk, that exposure could have a detrimental effect on the company's value.

Banking 100

Banking Firm Value Finance Equity 100

Law 360 M&A

APRIL 4, 2023

Credit Suisse Group AG's surprise takeover by UBS AG in March saved it from bankruptcy that would have wiped out investors' share holdings, the troubled lender's chairman said on Tuesday.

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Law 360 M&A

JUNE 22, 2022

A Virginia bankruptcy court's recent ruling in the case of defunct law firm LeClairRyan shows there may be serious tax consequences for pass-through entity partners who give up their ownership interest without following operating agreement exit provisions and updating bankruptcy court filings, say Edward Schnitzer and Hannah Travaglini at Montgomery (..)

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Law 360 M&A

AUGUST 25, 2023

Pegasus Home Fashions got court approval Friday to tap into $25 million of bankruptcy financing from Blue Torch Finance LLC, a prepetition lender that also agreed to kick off a bankruptcy auction for the New Jersey pillow maker's business.

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Finance 75

Law 360 M&A

MARCH 16, 2023

McGlinchey Stafford PLLC has added a former Adams and Reese LLP capital partner and financial services attorney to its creditors' rights, financial restructuring and bankruptcy group in Florida.

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Essentials of Corporate Finance

NOVEMBER 21, 2022

The recent bankruptcy filing of crypto exchange FTX shows, this volatility can be extreme. As you probably know, bankruptcy occurs when liabilities are greater than assets. However, bankruptcy can result from a finer distinction between liabilities and assets, namely liquidity. So was the company forced to declare bankruptcy?

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Law 360 M&A

OCTOBER 2, 2023

put its talc-mining subsidiary into Chapter 11 bankruptcy in Texas on Monday, seeking to sell the business and use the proceeds to fund a settlement trust for alleged victims who claim in a growing number of lawsuits that they were exposed to talc contaminated with asbestos. Minerals Technologies Inc.

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Technology 75

Law 360 M&A

JULY 18, 2023

A New York bankruptcy court’s recent ruling in Vice Media’s Chapter 11 case is likely to have implications for other cases involving the assignment of contracts by corporate entities, and may signal that Showtime will still face an uphill battle in trying to prove that its contract constituted personal services, says Debra Dandeneau at Baker McKenzie. (..)

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Reynolds Holding

DECEMBER 6, 2022

On November 14, 2022, FTX, the third largest crypto exchange in the world, filed for bankruptcy. The bankruptcy declaration reveals the harrowing details leading-up to the filing. Bankruptcy Court for the District of Delaware, where it hopes to achieve five core objectives identified in the declaration.

Banking 105

Banking Marketability 105

ThomsonReuters

NOVEMBER 25, 2020

Due to the unfortunate circumstances revolving around COVID-19, firms are now dealing with the need to advise accounting clients through bankruptcy. The current state of bankruptcy and COVID-19. In beginning to think about advising your accounting clients through bankruptcy, Steve Nickles brings up a piece from The New York Times.

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Accounting Firms Marketability 98

Law 360 M&A

MAY 26, 2022

Alston & Bird LLP announced recently that two experienced bankruptcy attorneys have joined the firm's New York office as partners to bolster its financial restructuring and reorganization group.

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Law 360 M&A

MAY 15, 2023

KKR-owned physician staffing company Envision Healthcare said Monday it had filed for Chapter 11 bankruptcy with approximately $7.7 billion in debt, just five years after it was bought by the private equity behemoth in a $10 billion deal.

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Equity 74

Law 360 M&A

AUGUST 7, 2023

filed for Chapter 11 bankruptcy protection in Delaware on Monday, listing both its assets and liabilities in the range of $500 million to $1 billion. Commercial electric vehicle technology company Proterra Inc.

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Technology 74

Law 360 M&A

NOVEMBER 11, 2022

The world's second-largest cryptocurrency exchange filed for bankruptcy in Delaware court Friday according to a company press release after it failed to secure enough new liquidity to offset a stunning collapse in value last week, becoming the latest digital asset platform to succumb to volatility in the cryptocurrency market.

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Marketability 98

Law 360 M&A

MAY 1, 2023

is abandoning plans to become the largest shareholder of Lordstown Motors, falling short of its commitment to invest up to $170 million in the electric vehicle maker and hurling the company toward the possibility of bankruptcy, according to a Monday filing with the U.S. Foxconn Ventures Pte Ltd. Securities and Exchange Commission.

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John Jenkins

DECEMBER 12, 2023

Section 363 sales are a common way to acquire assets out of bankruptcy. They’re a popular alternative for debtors who don’t want to go through a reorganization and provide buyers with the ability to acquire assets at an attractive price “free and clear” of claims against the debtor.

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Reynolds Holding

APRIL 30, 2023

Yet this anti-government tilt is a problem where chapter 11, or bankruptcy generally, is concerned. Bankruptcy is all about government. The automatic stay, the bankruptcy “estate,” the power to impose a plan on dissenting creditors – key features of corporate bankruptcy – all flow from Congress’ powers under the Bankruptcy Clause.

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Banking 59

Law 360 M&A

APRIL 21, 2022

A group of airline customers signaled Thursday their intention to appeal a New York federal judge's ruling upholding a 2013 merger between American Airlines and US Airways up to the Second Circuit Court of Appeals, extending the long-running antitrust battle that arose from American's bankruptcy.

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Law 360 M&A

APRIL 27, 2023

Transform that Section 363(m) of the Bankruptcy Code is not a jurisdictional provision means parties to 363 sales are now at the mercy of courts that may have differing perspectives on the issue, creating uncertainty for trustees, third parties and purchasers, say Thomas Loeb and Carrie Brosius at Vorys. Supreme Court's holding in MOAC v.

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ABI

JANUARY 28, 2024

John’s University School of Law American Bankruptcy Institute Law Review Staff In In re Pazzo Pazzo Inc. , 1] Facing financial distress, Berley, filed a petition for relief under Chapter 11 of the Bankruptcy Code. [2] In their bankruptcy schedules, the Debtors listed the lease and the option to repurchase the Property as assets.

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Law 360 M&A

MARCH 20, 2023

A Second Circuit panel on Monday refused to revive a long-running challenge to the 2013 tie-up between American Airlines and US Airways that stemmed from American's bankruptcy, saying that the courts moved beyond looking only at market shares in mergers decades ago.

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RNC

JANUARY 23, 2023

6th National Summit Insolvency _ Bankruptcy Code and Valuation – Assocham 03.12.2022 The post 6th National Summit Insolvency & Bankruptcy Code and Valuation first appeared on RNC.

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Law 360 M&A

JANUARY 30, 2024

Duane Morris LLP has bolstered its business reorganization and financial restructuring practice group in Dallas with a former Polsinelli PC senior partner who has worked on everything from complex business and bankruptcy matters to commercial disputes, asset acquisitions and financial services matters.

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Law 360 M&A

NOVEMBER 10, 2022

The sudden downfall and potential bankruptcy of cryptocurrency exchange FTX could make the ongoing crypto winter a lot colder as the effects of its collapse are expected to ripple out through a crypto space where account holders are already fighting to recover their digital assets from failed platforms, experts say.

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ABI

JANUARY 28, 2024

John’s University School of Law American Bankruptcy Institute Law Review Staff In Purdue Pharma, L.P. 5] On September 15, 2019, Purdue filed a voluntary petition under chapter 11 of title 11 of the Unted States Code (the “Bankruptcy Code”). [6] Katharine Manganello St. 8] The U.S. 8] The U.S. 9] The U.S.

Marketability 40

Marketability 40

Reynolds Holding

AUGUST 11, 2022

Bankruptcy-remote structuring – structuring an entity to protect it from internal or external factors that might prevent it from paying its debts as they come due or make it the subject of a bankruptcy case – is crucial to a wide range of important business and financial deals.

Finance 59

Finance Marketability 59

Reynolds Holding

OCTOBER 23, 2022

In the wake of the industry’s recent significant bankruptcy filings, crypto watchers are focusing for the first time on which crypto-entities are eligible for chapter 11 relief [1] under the U.S. dollars as of the date of the bankruptcy filing. 5] Thus, the general rule is that all claims are valued in U.S.

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Equity Fair Market Value Marketability 58

Law 360 M&A

APRIL 26, 2022

Alex Jones moved three holding companies into bankruptcy last week to shield his intellectual property from defamation suits, immediately drawing the ire of the Sandy Hook families that sued him for defamation, the Office of the U.S. This is the week in bankruptcy. Trustee and the judge overseeing the cases; the U.S.

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