THQ to Receive $6.55MM in IP Sale

THQ said it has completed the bidding and sale process on certain of its intellectual properties with three buyers emerging to pay $6.55 million for six available lots, subject to bankruptcy court approval.

SSG Advises Cylex in Sale to Viracor-IBT Labs

SSG Capital Advisors said it acted as the exclusive investment banker to Cylex in the sale of its assets to Viracor-IBT Laboratories.

Bankruptcy Court Approves Kodak Patent Sale Plan

Eastman Kodak received approval for its $525 million sale of its digital imaging patents to Intellectual Ventures and RPX Corp.

No Equitable Tolling of Section 548 ‘Look-Back’ Period

In re Pitt Penn Holding Co., Inc. clarifies that even in a court of equity and despite colorable claims of concealment on the part of an avoidance-action defendant, there are limitations on the power of a bankruptcy court to invoke the doctrine of equitable tolling. In the following article, Haben Goitom from the Business Restructuring and Reorganization practice at Jones Day provides great detail.

Southern District Establishes Standards for ‘Good Faith’ Participation in Court-Ordered Mediation: Part II

The A.T. Reynolds & Sons, Inc. decision reverses the bankruptcy court’s order holding the secured lender in the underlying bankruptcy proceeding, and its counsel, in contempt for failing to mediate in good faith and imposing sanctions upon them. The decision not only vindicates the lender and its counsel for its “no pay” position taken at the mediation, but also articulates a clear and objective standard for parties’ future “good faith” participation in a court-ordered mediation. This is the conclusion of this two-part article.

Southern District Establishes Standards for ‘Good Faith’ Participation in Court-Ordered Mediation: Part I

The A.T. Reynolds & Sons, Inc. decision reverses the bankruptcy court’s order holding the secured lender in the underlying bankruptcy proceeding, and its counsel, in contempt for failing to mediate in good faith and imposing sanctions upon them. The decision not only vindicates the lender and its counsel for its “no pay” position taken at the mediation, but also articulates a clear and objective standard for parties’ future “good faith” participation in a court-ordered mediation.

ABF Journal, NYIC Approach the Bench, Once Again … U.S. Bankruptcy Judge Accentuates the Positive

Today, as the economy inches slowly toward recovery, ABF Journal and the NYIC were given the opportunity to approach the bench once again … this time to gain Judge Rosemary Gambardella’s perspective on how things have played out since our last interview in 2009, as well as the Judge’s view on today’s realities.

Casino Brawl … Intercreditor Agreements Get ‘Trumped’

The recent intercreditor dispute between The Donald and corporate raider Carl Icahn has all the glitz of Atlantic City itself, including two competing but confirmable plans with senior and junior creditors slugging it out for ownership of a gaming empire.

The Pendulum Swings Again: The Assault on Secured Creditors (Part 1 of 2)

Recent court decisions may have seriously eroded secured creditors’ rights. In this two-part article, a leading restructuring attorney has teamed up with a well-known turnaround professional to describe in Part I new challenges facing lenders, and in Part II to suggest strategies and tactics to help lenders protect themselves.