May Commercial Chapter 11 Bankruptcies Increase 16%
Commercial Chapter 11 filings increased 16% to 498 filings in May 2015 from the 431 commercial Chapter 11 filings registered in May 2014, according to data provided by Epiq Systems.
Commercial Chapter 11 filings increased 16% to 498 filings in May 2015 from the 431 commercial Chapter 11 filings registered in May 2014, according to data provided by Epiq Systems.
To Hahn Loeser & Parks Partner Rocco I. Debitetto, navigating Chapter 11 is like playing a hand of no-limit Texas Hold ‘Em. By understanding the fundamentals of the popular poker variation relying on mathematically and psychologically correct decisions, secured lenders can control the money pot. First move: Take stock of who’s at the table, evaluate their interests and envision their strategy.
The ABI Commission to Study the Reform of Chapter 11 released its final report containing recommendations for modernizing the Bankruptcy Code for Chapter 11 business reorganizations.
Baxano Surgical filed for Chapter 11 to facilitate a going concern sale of its minimally invasive products under §363. Pre-petition lender Hercules Technology Growth Capital will provide the DIP financing.
Baker Donelson Attorney Susan Mathews makes a case for venue reform, explaining why corporate debtors should be accountable to local trade creditors, employees and communities and be required to file Chapter 11 at their home base.
The Wall Street Journal reported that a bankruptcy judge signaled he will move quickly to appoint a Chapter 11 trustee to take control of TelexFree, which faces accusations of fraud.
While the changing dynamics of today’s Chapter 11 process and financial landscape have led to an increase in pre-packaged bankruptcy filings, “free fall” cases have grown more pronounced, according to an analysis in the March edition of the ABI Journal .
Kodak Chairman and CEO Antonio M. Perez announced the company’s emergence from Chapter 11 as a reorganized company, following completion of the final steps in the restructuring process.
The Wall Street Journal reported that starting November 1, attorneys who represent large corporate debtors under Chapter 11 protection will be subject to more scrutiny in a DOJ crackdown on bankruptcy case “billing bonanzas.”