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

2nd Circ. Tosses Citibank Appeal Of Argentina Bond Ruling

September 22, 2014

Source: Law360

The Second Circuit on Friday dismissed Citibank NA's appeal of a New York federal judge's order preventing it from processing an upcoming payment on $8.4 billion in Argentine sovereign debt, a day after the bank's lawyer argued that the lower court's ruling has "put a gun to our head." Read this article.

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3rd Circ. Affirms Capeco Ch. 11 Claim Distribution Orders

September 19, 2014

Source: Law360

The Third Circuit on Thursday rejected Intertek USA Inc.'s argument that orders entered in Caribbean Petroleum Corp.'s Chapter 11 bankruptcy case give priority to tort claimants over other general unsecured creditors in the distribution of certain insurance proceeds, saying the plain language of the orders makes no such provision. Read this article.

Siga Bankruptcy Hearing Too Soon for Suit Fight: Judge

September 18, 2014

Source: Bloomberg News

The initial bankruptcy hearing for Siga Technologies Inc., supplier of the only smallpox medicine for the U.S. strategic drug stockpile, isn’t the right place for a competitor to discuss liability in a lawsuit with the company, a judge said. Siga, which was found liable for breaching a licensing contract with PharmAthene Inc., filed for protection from creditors yesterday, saying a possible $232 million damages award in the lawsuit may imperil its operations. Read this article.

Smallpox Drug Maker Files Bankruptcy to Fight Court Loss

September 17, 2014

Source: Bloomberg News

The biological warfare defense firm that makes the only treatment for smallpox in the U.S. government’s strategic drug stockpile filed for bankruptcy, claiming a rival’s victory in a contract dispute is endangering its ability to produce the medicine. Court protection will allow Siga Technologies Inc. to put off posting a court bond on a potential $232 million damages award to competitor PharmAthene Inc. while it attempts to lower the penalty on appeal and continue operations, the company said in a Chapter 11 petition today in Manhattan bankruptcy court. Read this article.

Nextel Carrier NII Hits Ch. 11 After Creditor Talks Stumble

September 16, 2014

Source: Law360

NII Holdings Inc., a U.S. company that provides Nextel-branded wireless service in Latin America, entered bankruptcy in New York on Monday to pursue a restructuring of its $4.6 billion debt load after a plan crafted by Aurelius Capital Management LP met with resistance from other bondholders. Read this article.

Dewey Trustee Hits Vodka Co. With $2.45M Clawback Suit

September 15, 2014

Source: Law360

The secured lender trustee for Dewey & LeBoeuf LLP hit former Dewey client Central European Distribution Corp. with a lawsuit in New York bankruptcy court on Friday, seeking almost $2.5 million in invoiced fees and expenses that the defendant has refused to pay. Read this article.

Proskauer Can't Dodge Malpractice Suit Over $463M Tax Bill

September 11, 2014

Source: Law360

A New York judge on Wednesday refused to quash a malpractice lawsuit that claims Proskauer Rose LLP’s bad advice cost Overseas Shipholding Group Inc. $463 million in tax liabilities, finding the allegations are sufficient for the case to go forward. Read this article.