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

Nortel's US Arm Strikes $1B Bondholder Interest Cap Deal

July 25, 2014

Source: Reuters

Nortel Networks Inc, the U.S. unit of defunct Canadian telecom company Nortel Networks Corp, has agreed to pay up to about $1 billion in interest that has accrued on the $3.9 billion it owes to its U.S. bondholders, a court filing showed. Thursday's settlement comes as Nortel's bankrupt units in Canada and Europe are fighting with the U.S. unit over how to divide $7.3 billion raised by liquidating the global telecommunications company. Read this article.

DLA Piper Hands Back Fees To Settle Casino Trustee Row

July 23, 2014

Source: Law360

DLA Piper and the trustee appointed to oversee the bankruptcy of Philadelphia Entertainment & Development Partners LP have reached a settlement to put to rest the trustee's contentions that the firm made material misrepresentations and misleading statements in its application. Read this article.

Picard Can't Appeal 'Good Faith' Madoff Clawback Ruling

July 22, 2014

Source: Law360

U.S. District Judge Jed Rakoff refused on Monday to let the liquidating trustee for Bernard L. Madoff’s defunct firm seek appellate review of a decision weakening clawback suits against investors affected by the Ponzi scheme, saying the cases should not “languish” while the Second Circuit tackles a narrow question of law. Read this article.

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Energy Future Says It Might Toss Ch. 11 Creditor Deal

july 21, 2014

Source: Law360

Bankrupt power giant Energy Future Holdings Corp. told a Delaware bankruptcy judge Friday that it is considering tossing its prearranged restructuring plan in the wake of several new proposals, including one just this week from NextEra Energy Inc. and a group of junior note-holders. Read this article.

Canada's Algoma Hits Ch. 15, Works On Tackling $1.2B Debt

July 18, 2014

Source: Law360

Ontario-based Essar Steel Algoma Inc. received preliminary Chapter 15 relief in Delaware bankruptcy court Thursday, a day after the company commenced restructuring proceedings in Canada aimed at tackling some $1.2 billion in debt. Read this article.

NYC Opera Strikes Deal To Stay In Control Of Sale Talks

July 17, 2014

Source: Law360

A New York City Opera Inc. suitor agreed Wednesday that the current board should remain in charge of shopping the bankrupt institution, dropping an attempt to hand control of the sale process to a trustee and giving the board of directors the summer to negotiate with potential buyers. Read this article.

Lawyer Called 'Sociopath' Seeks Judge's Full Recusal

July 16, 2014

Source: Law360

A Pennsylvania attorney facing discipline over allegations he overcharged bankruptcy retainer fees has appealed the refusal of a federal judge, who defended calling the lawyer a "sociopath," to recuse himself from hundreds of cases involving the lawyer. Read this article.

Dewey Judge Warns Ex-Brass On Trustee Discovery Stay

July 15, 2014

Source: Law360

A New York bankruptcy judge warned Monday that if Dewey & LeBoeuf LLP's former executive director and chief financial officer can’t agree on a discovery stay in the Dewey liquidating trustee's suit, they could forfeit the chance to defend themselves against the clawback claims as their criminal trial approaches. Read this article.