January/February
January/February 2020
Bankruptcy
Vol. 18 No. 1
June 24, 2020
bankruptcy
Phil Neuffer
Not Dead Yet: How to Find New Business With Debtors in Chapter 11
Just because a company files for bankruptcy doesn’t mean they can’t be a source of new business. Scott Greer, Matthew Warren and Jacob Jumbeck of King & Spalding explain what lenders should focus on when determining how to proceed with such debtors, using McDermott International’s recent Chapter 11 filing as an example.
May 14, 2020
Uncertainty Surrounds Bankruptcy Debtors’ Access to Paycheck Protection Program
Companies in bankruptcy do not have access to the Paycheck Protection Program, at least according to the letter of the law. However, the issue has become less clear as illustrated by the decisions in In re Hidalgo and In re Cosi Inc. Howard M. Berkower and Franklin Barbosa Jr. of McCarter & English take a closer look at those decisions and how their inconsistencies muddy the waters.
May 7, 2020
ABFJ’s COVID-19 Podcast: Wurst Outlines Bankruptcy Implications of Pandemic
In the third episode of ABF Journal’s COVID-19 focused podcast, Jeffrey A. Wurst said he expects an uptick in bankruptcy filings from mainstream middle market companies and a return to “old fashioned bankruptcy.”
April 6, 2020
Retail Relief: Amend the UCC to End the Filing Requirement to Perfect Consignment Interests
Placing goods on consignment is a common occurrence in retail, but to perfect those goods, consignors are required to file with the UCC and give notice to other secured parties. Many consignors fail to follow this procedure and end up as unsecured creditors if the retailer files for Chapter 11. Stephen Selbst argues it is time to change the law.
July 13, 2018
Vitamin World to Liquidate, SSG To Advise
Despite DIP financing from Wells Fargo, a distraught Vitamin World is heading for liquidation. ABF Journal illustrator Jerry Gonzalez shows the company getting a little help from its friends at SSG Advisors.
January 25, 2018
When Is a Consignment Not a Consignment? A Look at the Ongoing Sports Authority Bankruptcy Case
In the world of bankruptcy, the definition of “consignment” is not as simple as it would seem. In the ongoing Sports Authority bankruptcy case, the company is trying to remain afloat by selling merchandise it obtained on consignment. The consigners, of course, want to be paid, as do the company’s lenders. Judge Cyganowski reviews the case, which has not yet been resolved, and explains the complexities of consignment.
January 25, 2018
ABI 2017 Chapter 11 Review: Large Company Filings Down, Retail & Oil Still Show Distress
Although a parade of Chapter 11 filings by major retailers grabbed the headlines in 2017, Samuel Gerdano and Ed Flynn of the American Bankruptcy Institute point out that, overall, large company filings were down compared to the previous two years. They predict 2018 will offer more of the same.
January 25, 2018
View from the Bench: One of the Nation’s Top Bankruptcy Judges Analyzes the Chapter 11 Landscape
Chapter 11 in 2017 seemed to be a paradox. On one hand, every day seemed to bring news of a national retailer filing for protection. On the other hand, the American Bankruptcy Institute, which monitors Chapter 11 commercial filings, contends that there were fewer filings because of the high cost. The Honorable Michael B. Kaplan, U.S. Bankruptcy Judge for the District of New Jersey, provides unvarnished answers to ABF Journal’s questions about the state of Chapter 11 today.
January 25, 2018