The Bankruptcy Law Review is a collaboration of expert legal practitioners and academicians who write about both the legal and public policy aspects of corporate bankruptcy law.

Welcome to Bankruptcy Law Review

Welcome to Bankruptcy Law Review

BankruptcyLawReview.com is the result of a collaboration among leading legal experts and academicians in the area of Bankruptcy Law, including emphasis on the issues of fraudulent conveyances, preferences, and former officer, director, and shareholder liability. These legal matters have risen in importance among practitioners, judges, governments, corporate leaders and the public in recent years, creating an increased demand for current and authoritative law articles addressing them. The authors of Bankruptcy Law Review have set forth to contribute their knowledge on the subject and, in so doing, highlight their expertise in this very relevant area of the law.

News

Detroit Floats Utilities Spinoff As $5B Refi Hangs In Balance

August 22, 2014

Source: Law360

Amid a critical $5.2 billion debt refinancing attempt, the city of Detroit on Wednesday resurrected its long-percolating proposal to spin off the Detroit Water and Sewerage Department into a regional system serving three neighboring counties and unlock a new revenue stream. Read this article.

Argentina Plans To Skirt US Courts, Pay Bonds Locally

August 21, 2014

Source: Law360

The president of Argentina on Tuesday announced a plan to pay holders of its sovereign debt outside of the reach of U.S. courts, after a New York federal judge blocked a payment to bondholders who agreed to restructurings, which led the country to default for the second time in 13 years. Read this article.

Korean Shipbuilder Daehan Seeks Ch. 15 Protection

August 20, 2014

Source: Law360

Daehan Shipbuilding Co. Ltd. asked a New York bankruptcy court on Monday to recognize its Korean bankruptcy proceeding, saying it needs protection from a U.K. court’s $54.5 million judgment as it attempts to restructure debts following a liquidity crisis. Read this article.

11th Circ. Reverses Bankruptcy Sale, Suggests Sanctions

August 19, 2014

Source: Law360

The Eleventh Circuit on Friday ruled that the bankruptcy petition of Boca Raton, Florida-based Global Energies LLC was filed by one of the company's shareholders in bad faith and said that the bankruptcy court erred in failing to consider new evidence and void the sale of the company's assets. Read this article.

Revel Delays Auction Indefinitely After Saying It Will Close

August 18, 2014

Source: Bloomberg News

Revel AC Inc., the bankrupt Atlantic City, New Jersey, casino operator, postponed an asset auction indefinitely, the day after announcing it will close its doors by next month. The casino company said in court filings that it’s still reviewing bids and working on a “value-maximizing” sale. The company said yesterday that the resort will be shuttered no later than Sept. 10 because none of the offers met certain requirements. Read this article.

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Energy Future Judge OKs Investigation By Junior Creditors

August 15, 2014

Source: Law360

A Delaware bankruptcy judge allowed the indenture trustee for a group of junior noteholders in the massive Energy Future Holdings Chapter 11 case to go ahead with an investigation into its allegations that company brass depressed the power giant's value to benefit senior lenders. Read this article.

Labaton Replaced By Former Partners' Firm In MF Global Suit

August 14, 2014

Source: Law360

A New York federal judge on Wednesday approved the replacement of Labaton Sucharow LLP with a new firm formed by four former Labaton partners as co-lead counsel in a proposed class action alleging officers of the bankrupt broker-dealer MF Global Holdings Ltd. lied to investors about the company's financial stability. Read this article.

Creditors End Fight To Stop Howrey $4M Clawback Deal

August 13, 2014

Source: Law360

The unsecured creditors battling a deal that would allow 60 former partners of defunct Howrey LLP to pay $4.2 million to the firm’s Chapter 11 trustee to resolve pending clawback claims ended their fight on Monday, agreeing to close out a monthlong appeal of the settlement. Read this article.