Healthcare bankruptcies present unique challenges in addition to financial restructuring. An immediate concern that must be addressed in these cases is the ability of the debtor to provide, and continue to provide, adequate services to existing and future patients. Having been involved in numerous healthcare matters filed under both Chapter 7 and Chapter 11, I […]
Duties and Obligations of Ombudsmen in Healthcare Bankruptcies – Public Safety Comes First
Bondholders Beware? First Circuit Ruling’s Potential Adverse Impact on Puerto Rico’s Long-Term Restructuring Prospects
Having practiced in Puerto Rico for nearly a decade, including being involved heavily in the ongoing Title III PROMESA proceedings, the recent ruling handed down by the First Circuit could prove to be the most impactful for the Island’s long term restructuring prospects and its access to the Bond markets. The controversial ruling, which pertains […]
The Bankruptcy Discharge Injunction – How Creditors Can Avoid Getting Caught with Their Hands in the Cookie Jar
Debtors who have filed for bankruptcy and received their Discharge often continue to receive collection letters and phone calls from their creditors. Some creditors even go so far as to sue on these discharged debts or garnish wages and bank accounts. Such actions may result in severe penalties, sanctions and damages. This article goes over […]
Don’t be Late – Filing Proofs of Claims in a Bankruptcy Case
When a creditor is notified that a debtor has filed for bankruptcy, the creditor should be careful to determine whether it needs to file a Proof of Claim in the case to preserve its rights to receive payments from the bankrupt estate. This article goes over the importance of a creditor acting in a timely […]
Proceed with Caution! Understanding Ipso Facto Clauses In Bankruptcy
The phrase ipso facto is Latin for “by the fact itself.” Ipso facto clauses are sometimes included in lease and purchase contracts, and they assert that if the lessee or purchaser becomes insolvent, or files for bankruptcy protection, then the contract has been breached. In other words, under such a clause the very act of […]
Navigating The Crucial Initial Days Of A Chapter 11 Filing – First Day Motions
The initial stage of a Chapter 11 filing is the most crucial and debtors must be ready for the tactics of aggressive creditors and stakeholders jockeying for priority in the restructuring proceedings. As part of this phase, “first day motions” are typically filed on the first day of a case. These motions are to obtain […]
Decoding the Petroleum Marketing Practices Act (PMPA) as It Pertains to Bankruptcy
A gasoline retailer defaults on its obligations under an ongoing Franchise Agreement that it has with a brand name in the oil & gas industry. What steps are available to the franchisor to protect its economic interests in that particular station or station(s)? How about if the franchisee/retailer files for bankruptcy protection? As the Energy […]
Lease Termination Disputes and Bankruptcy
As the brick and mortar retail industry continues to decline, landlords are likely to engage in an increasing number of lease disputes with delinquent tenants. As we have seen over the past five years, those disputes often end up in bankruptcy court and may drag on for months before a landlord is able to shake […]
U.S. Supreme Court Grants Certiorari to Decide Circuit Split on Applicable Law for the Recharacterization of Debt
Head on over to our Law of Banking blog to read Rebekah Hudgins‘ post on the U.S. Supreme Court Granting Certiorari to Decide Circuit Split on Applicable Law for the Recharacterization of Debt.
The Texas Supreme Court Rules in favor of The Golf Channel over the Stanford Ponzi Receiver—Ruling will Likely Limit Future Clawback Suits in Similar Cases
Attorney Trent Rexing discusses the recent Texas Supreme Court Ruling in favor of The Golf Channel. Read the full article here.