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

Mayer Brown DQ'd From Representing HSBC In MBS Row

January 27, 2015

Source: Law360

A Minnesota federal judge has disqualified Mayer Brown LLP from defending HSBC Finance Corp. in a lawsuit brought by Residential Capital LLC successor Residential Funding Co. LLC over alleged defective mortgage-backed securities, on the grounds that Mayer Brown had a conflict of interest as ResCap's former counsel. Read this article.

Major Caesars Lenders Sue To Block Restructuring Plan

January 26, 2015

Source: Law360

An informal committee of senior bank lenders holding more than half of the $5.4 billion in bank debt owed by Caesars Entertainment Corp.'s operating unit launched an adversary proceeding Friday in Delaware bankruptcy court in their latest attempt to block its restructuring. Read this article.

Christie Pushes State Takeover To Fix Atlantic City

January 23, 2015

Source: Law360

New Jersey Gov. Chris Christie on Thursday installed an emergency manager to rescue Atlantic City’s finances from a brutal downturn in gaming-related tax revenues, tapping a turnaround team featuring the man who oversaw Detroit’s restructuring, former Jones Day partner Kevyn Orr. Read this article.

EFH Seeks More Exclusivity Time To Craft Ch. 11 Plan

January 22, 2015

Source: Law360

Power giant Energy Future Holdings Corp. on Tuesday asked a Delaware bankruptcy judge for an eight-month exclusivity extension, saying the extra time will allow it to hammer out a Chapter 11 plan without the distraction of competing proposals. Read this article.

2nd Circ. Holds JPMorgan To Faulty Mayer Brown Loan Deal

January 21, 2015

Source: Law360

The Second Circuit on Wednesday invalidated JPMorgan Chase & Co.’s claim to secured interest on a $1.5 billion loan to General Motors Corp.’s bankruptcy predecessor, enforcing mistaken paperwork filed by Mayer Brown LLP that the bank failed to notice. Read this article.

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Top Restructuring Firms Face Off In $10B Caesars Battle

January 20, 2015

Source: Law360

The long-awaited bankruptcy of Caesars Entertainment Corp.’s debt-laden operating unit has turned into a feeding frenzy for the nation’s top restructuring firms that tees up a rematch of the two that fought to the finish in the city of Detroit’s controversial Chapter 9. Read this article.

Wet Seal Joins March of Mall Retailers Into Bankruptcy

January 19, 2015

Source: Bloomberg

Wet Seal Inc. became the latest clothing retailer to seek bankruptcy protection as mall-based stores lose business to big-box chains and online merchants. Wet Seal, based in Foothill Ranch, California, has lost more than $150 million over the past two years and defaulted on $27 million in senior convertible notes in December. The company said it has a reorganization plan under which B. Riley Financial Inc. will acquire 80 percent of its stock in exchange for a $20 million loan to fund operations during bankruptcy. Riley is the parent of liquidator Great American Group LLC. Read this article.

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Caesars Ch. 11 Kicks Off $10B Restructuring Fight

January 16, 2015

Source: Law360

Caesars Entertainment Corp. on Thursday placed a troubled operating unit into bankruptcy in Illinois with plans to extinguish $10 billion in debt and take on creditors furious with financial maneuvers engineered to save a boom-era buyout. Read this article.