Lateral movement among law firm partners and associates has boomed. In 2020, the number of associates moving firms was up 149% and the number of partners moving was up almost 43%. [1] In 2021, the number of lawyers switching firms was up 111% over 2020.
Committees
The onset of the COVID-19 pandemic has disrupted every level of the supply chain for suppliers and manufacturers. However, despite the added stress of a strained supply chain, labor shortages and the rising costs of raw materials, suppliers have largely avoided the chapter 11 process.
Hello! I was recently appointed co-chair of ABI’s Financial Advisors and Investment Banking (FAIB) Committee, and I could not be more excited. I’m a restructuring/bankruptcy partner at Young Conaway Stargatt & Taylor, LLP, and have been in the business for more than 27 years.
The Hawaii Bankruptcy Court’s ruling in In re Minesen Co. [1] is a cautionary tale of how seemingly innocuous contract language can have unintended consequences — effectively waiving applicable nonbankruptcy law and overriding contract language to allow assignment without counterparty consent.
A recent decision by the Eleventh Circuit Court of Appeals addresses an issue previously addressed by only one other circuit court and should be welcome news for preference defendants asserting a “subsequent new value” defense while also having a § 503(b)(9) claim. In the case of Auriga Polymers Inc. v.
In enacting the Bankruptcy Code in 1978, Congress recognized, as public policy, a need to ensure that professional services provided to a trustee or debtor in possession were provided by skilled, competent professionals.
Tom, thank you for talking with me. I’ve been doing a lot work on CCRC cases, but it seems like your cases, and in particular I’m thinking about the Amsterdam restructuring, it seems like you get a very positive outcome. And I was wondering, what do you think is necessary for a successful restructuring case?
Whether a lease constitutes a lease of residential property or of nonresidential property can significantly impact the reorganization effort of a chapter 11 debtor-lessee.
Fri, 2016-04-15
Public Securities and the Bankruptcy Plan Process: What Not to Do
Fri, 2016-04-15
Who Pays the Price for Health Care Insolvencies: the Consumer, the Vendors or the Public at Large?
Fri, 2016-04-15
People and Assets on the Move Overseas: What You Need to Know to Hold Everything Still and Seize the Assets
Fri, 2016-04-15
Beware of the Traps: Ethical and Fiduciary Issues for Committee Members and Professionals
Fri, 2016-04-15
Hospitality and the Tax Man: Historical Hospitality Tax Issues in Distress
Fri, 2016-04-15
Legal and Practical Issues Involving Secured Creditors and the Retention of Financial Advisors.
Wed, 2016-03-30
The Unsecured Trade Creditors' Committee's call discussed “gifting” and other recent developments regarding application of the absolute priority rule. In In re ICL Holding, the Third Circuit Court of Appeals recently held that “gifting” is permissible in section 363 sales. Conversely, in prior opinions, both the Second and Third Circuits have held that “gifting” is not permissible in the context of a chapter 11 plan.
Thu, 2016-03-10
The Asset Sales Committee hosted a conference call discussing the GM successor liability decision now on appeal in the Second Circuit. John Hutton (Greenberg Traurig LLP; Miami) and Henry Jaffe (Pepper Hamilton LLP; Wilmington) led a conference call discussing the issues raised and being briefed before the Second Circuit in the GM successor liability appeal.
Wed, 2016-02-10
The most recent committee call explored decisions that have clarified case law on recharacterization, including analyzing the Tenth Circuit’s Alternate Fuels decision and other rulings. Additionally, speakers discussed how practitioners can effectively use section 510(b) of the Bankruptcy Code, and how courts have reviewed contemporaneous business records to evaluate the parties’ intentions at the time of the transaction. Speakers from this call included authors of the most recent committee newsletter articles.
Tue, 2016-01-19
The Chapter 11 Commission Report recommended that the burden of proof for appointing a Chapter 11 Trustee under 1104(a) be changed from clear and convincing evidence to a preponderance of the evidence. The Commissioners determined that the existing more stringent standard has a chilling effect on parties-in-interest seeking the appointment of a Trustee, that the benefits of having a Trustee in appropriate cases outweigh the risks of abuse and unnecessary distractions that a lower standard could bring, and that adopting a preponderance of the evidence standard would resolve a split among the courts on this issue.
