Vinson & Elkins announced that Paul E. Heath, an accomplished partner in the firm’s Restructuring and Reorganization practice group, has relocated from Dallas to Houston.
As a result of COVID-19, some businesses will make the difficult decision to wind down operations. As owners and lenders seek more efficient alternatives to bankruptcy, an assignment for the benefit of creditors can be a better option.
Tyler Layne and John Tishler of Waller Lansden Dortch & Davis dive into the True Health Chapter 11 bankruptcy case and the healthcare debtor-friendly trend seen in recent bankruptcy court decisions
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.
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.
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.”
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.
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.