A bankruptcy filing may be an opportunity for the acquisition opportunities of individual assets, or an entire going concern business. To learn more, click on the link below to an article published recently by the online news site Hotel News Now: https://www.hotelnewsnow.com/Article/13409/Bankruptcies-bring-acquisition-opportunities
Bankruptcies Bring Acquisition Opportunities
5th Circuit Summary: Smith v. Gartley (In re Berman-Smith), No. 13-50154
The detailed facts of this case aren’t particularly relevant. The issue was whether the district court has jurisdiction to hear an appeal filed after the 14 day period in Rule 8002. The Fifth Circuit has not had an opportunity to address this issue since the 2007 Supreme Court case Bowles v. Russell, 551 U.S. 205 […]
5th Circuit Summary: Newco Energy v. Energytec, Inc. (In re Energytec, Inc..), No. 12-41162
Energytec owned a pipeline system. Newco Energy had an agreement with Energytec whereby Newco was paid a “transportation fee” based on the amount of gas that flowed through the pipeline. Energytec filed Chapter 11 bankruptcy and sold the pipeline system to Red Water Resources in via a 363 sale. The proposed sale order initially said […]
5th Circuit Summary: The Cadle Co. v. Moore (In re Moore), No. 13-10325
Cadle Co. sued James Moore, Brunswick Homes and others in state court alleging that Moore used Brunswick to shield assets and to avoid paying debts to Cadle. The causes of action included a state-law fraudulent transfer action. Moore subsequently filed Chapter 7 bankruptcy. Cadle removed the state case to the bankruptcy court (Judge Jernigan) as […]
In-House Alert: Covenants Not to Compete and Bankruptcy
The difficult economic circumstances of the last few years have affected employer/employee relationships in a number of different ways. One of these effects has been that fewer employees changed jobs. During a period of high unemployment, many employees rationally decided not to risk the uncertainty associated with pursuing new opportunities. Now that the economy is […]