Corporate Bankruptcy

Extra Stern

08/26/11

For those of you on the West Coast and others who are not obssessing about the huricane, I give you some further thoughts on the Supreme Court's decision in Stern v. Marshall, this time in the context of the Inkeeper's chapter 11 case. Up now at Dealbook.

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It's Official: Borders Long Goodbye Over

07/18/11

They officially announced that with no-one showing up to the auction and with their stalking horse backing out (bucking them off?), they will acquiese to the "winning" bid of the liquidators.  Surely part of this sad fall -- sadder still for this poster from Ann Arbor -- comes from missteps that we can see in hindight failed to appreciate the profound transformations in this retail sector over the past decade plus.  But part of it too is an insurmountable change in retail trends fueled by the coming of age of online shopping.  Yes, Barnes and Noble survives for now, but will they still be a

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The Good Faith of the Dodgers

06/28/11

By popular demand -- and only by popular demand -- here is a post on the chapter 11 in the Dodgers case. My beloved Redbirds seem to have found the mid-season swoon that we all knew was coming. I have been in baseball denial, but the Dodgers have dragged me back in.

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The Bankruptcy Code and the FCIC

02/03/11

Mike has done a great service to us chapter 11 types over at Rortybomb, by aggregating all of the quotes from the FCIC report regarding the 2005 expansion of the safe harbors on the Code.

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Vallejo's Chapter 9 plan

02/03/11

The City of Vallejo has filed its Disclosure Statement and plan in its Chapter 9 bankruptcy case.  The plan proposes paying general unsecured creditors, mostly employees and retirees, about 5 cents on the dollar from a $6 million fund, an amount roughly equivalent to the legal fees paid in the case through December 2010.  Vallejo apparently did not finance capital projects with unsecured

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The Upside of High Fees

01/28/11

Some of the comments to Stephen Lubben's post on "overhead" raised the longstanding complaint about high fee awards in New York and Delaware Chapter 11 cases. We all know the academic and political condemnations of Chapter 11 as merely a feast for lawyers.

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