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The Legal Intelligencer

Debtor-Owner Allowed to Modify Mortgage in Bankruptcy Even if Debtor Is Not Obligor Under the Mortgage Loan

In a recent decision in In re Taing, the U.S. Bankruptcy Court for the District of Massachusetts held that a mortgagee holds a claim that could be modified by a Chapter 11 plan even if the debtor was not indebted under the mortgage, but limited the ability to “cram down” the plan terms against the lender to the extent it modified the lender’s rights against the nondebtor obligor.
7 minute read

Texas Lawyer

Haynes Boone, Hicks Thomas Get Dismissal of $1.3B Claims in 2022 Freeport LNG Terminal Explosion

Haynes Boone, defending Chiyoda International Corp., obtained dismissal of $1.3 billion in subrogation lawsuits.
3 minute read

Daily Business Review

Growing Referral Network, Alternative Fees Have This Ex-Big Law’s Atty’s Bankruptcy Practice Soaring

Miami-based restructuring boutique Pack Law only has three attorneys on staff, but has found itself amid some consequential cases, including handling the Red Lobster bankruptcy as well as litigation against JBS Brazil.
5 minute read

The Legal Intelligencer

Franchisees Benefit From Subchapter V Bankruptcy Option

When franchisees choose to financially reorganize under the Bankruptcy Code, they may be the right size to choose to reorganize under subchapter V of Chapter 11. Subchapter V proceedings are simpler, more streamlined and less expensive than a traditional Chapter 11 and is ideal to allow the self-employed to revitalize their small business. Where the franchisor and the franchisee cannot reconcile, subchapter V may provide the franchisee with breathing room and leverage to be revitalized.
5 minute read

The American Lawyer

Davis Polk Lands Spirit Chapter 11 Amid Bankruptcy Resurgence

After a slower Q3, the rate of large corporate bankruptcies picked up in October.
2 minute read

Texas Lawyer

$400M Case: Trustee Claims Instant Pot-Maker Defrauded Lenders

In a U.S. Southern District of Texas bankruptcy filing, the Instant Brands trustee accused Cornell Capital of plundering the company through fraudulent transfers.
4 minute read

Connecticut Law Tribune

No Kidding: The Onion Just Bought Alex Jones' Infowars at Auction

"Truth is sometimes stranger than fiction," Alex Jones' Connecticut trial attorney, Norm Pattis of Pattis & Paz, said. "I'll look forward to seeing where Mr. Jones surfaces next."
3 minute read

Law.com

Court Rules Mere Conduit Defense Not Suitable for a Motion to Dismiss

At the motion to dismiss stage, courts usually won't consider affirmative defenses. This issue arose recently in a preferential transfer case, where a defendant sought to dismiss a complaint by arguing it was a mere conduit, not an initial transferee.
6 minute read

Delaware Business Court Insider

FTX Estate Seeks to Recoup $1.76B From Binance, Plus Exec 'Piggy Bank' Payouts

FTX and its affiliates, represented in the bankruptcy court by Sullivan & Cromwell and Landis, Rath & Cobb, have filed a total of 36 adversary actions since Oct. 28, 25 of which were filed on Nov. 8.
3 minute read

The Legal Intelligencer

Membership Has Its Privileges: Bankruptcy Court Examines LLC's Authority to File Bankruptcy

In this case, the issue was whether the president was authorized to do so. In a recent decision issued on Sept. 30, 2024, the U.S. Bankruptcy Court for the Eastern District of Michigan examined this fundamental question of basic corporate governance and provided guidance to bankruptcy practitioners who may face similar questions in the future.
8 minute read

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