Corporate Governance

Benchnotes By Christina Sanfelippo, Aaron M. Kaufman and Bradley D. Pack 1 Third Circuit Discusses Equitable Authority to Appoint Receivers for Corporations, Ownership of Successor-Liability Claims In a consolidated appeal, the Third Circuit considered the issues of

Benchnotes By Aaron M. Kaufman, Bradley D. Pack and Christina Sanfelippo Failures by Debtors’ Counsel to Disclose Fee Arrangements “Will Not Be Taken Lightly” In In re Dordevic, 1 counsel for the debtor disclosed that the debtor paid counsel $5,000 for services in

Benchnotes By Bradley D. Pack, Aaron M. Kaufman and Christina Sanfelippo Third Circuit Holds that “Financial Distress” Is Requisite Component of Good Faith in Filing a Petition In a move colloquially known as the “Texas Two-Step,” a highly profitable but litigation

Benchnotes By Aaron M. Kaufman, Bradley D. Pack and Christina Sanfelippo Multiple Affiliates: Every Action Taken for the Collective Estates Does Not Have to Be Good for Each Debtor Complex chapter 11 cases rarely involve a single debtor entity. Indeed, virtually every

The transfer restrictions in an LLC’s operating agreement are enforceable in a bankruptcy sale, the Tenth Circuit BAP says.

A creditor can’t elect a trustee to pick its adversary in a lawsuit, Bankruptcy Judge Gunn says.