Bill Siegel was invited to write an article for the Bankruptcy spotlight in the May 2023 edition of the Dallas Bar Association's Headnotes publication. We are sharing the article here, with permission from the DBA. Directors of corporations [...]
Remember the Texas Two-Step? Well, it is alive and well, but lessons can be learned from the dismissal of the LTL Management, LLC bankruptcy. Background (Bill Siegel first discussed this J&J litigation, the “Texas Two-Step,” and how a [...]
In In re Royal St. Bistro, LLC, 26 F.4th 326 (5th Cir. 2022), the U.S. Court of Appeals for the Fifth Circuit recognized the rights of lessees when the debtor sells an asset free and clear of all liens, [...]
[Regarding: Glencove Holdings, LLC v Bloom (In re Bloom), No. 22-1005 (10th Cir. July 12, 2022)] The Tenth Circuit Court of Appeals recently affirmed the bankruptcy court and bankruptcy appellate panel rulings that a debtor owner and officer of [...]
Lender liability lawsuits have generally been few and far between. However, recently, a Chapter 7 trustee obtained a judgment against a lender premised on the lender’s bad acts against the debtor prior to the filing of a bankruptcy Chapter [...]
A U.S. District Court judge in the Eastern District of Virginia1, Richmond Division, set aside confirmation of a Chapter 11 plan that contained “extremely broad third-party (non-debtor) releases.” What makes this case so exceptional is the analysis, and also [...]
There is a reason why a buyer of substantially all of a seller’s assets may want to pursue a sale via the buyer filing bankruptcy, through a bankruptcy auction. By obtaining a court order approving a sale via a [...]
Discussion of: Highland Capital Management LP v. Dondero (In re Highland Capital Management LP), 21-03003, 2021 Bankr. LEXIS 3314 (Bankr. N.D. Tex. Dec. 3, 2021) Bankruptcy courts are in disagreement whether to enforce arbitration provisions as opposed to trying the [...]
In New Falls Corp. v. LaHaye (In re LaHaye), No. 19-30795 (5th Cir. Nov. 12, 2021), the Fifth Circuit Court of Appeals prevented a secured lender from pursuing individual guarantors on a claim that had been partially released in [...]
See a related update, published Feb. 16, 2023. In re LTL Mgmt. LLC, No. 21-30589 (MBK) [Docket No. 1572] (Bankr. D.N.J. 2021) Other than being a dance, what is the Texas Two-Step, in terms of corporate mergers? The [...]
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