Bankruptcy Law News and Insights

The DOJ and the SEC charged the manager of a hedge fund with securities fraud, wire fraud, extortion and obstruction of justice related to his "conduct in the offer of certain shares being disposed of as part of the Neiman Marcus Group Ltd. bankruptcy proceedings." (See here for the DOJ Complaint and here for...

Read More

On August 11, 2020, the United States Court of Appeals for the Second Circuit affirmed lower court decisions rejecting Lehman Brothers Special Financing Inc.'s ("LBSF") attempt to recover nearly $1 billion in payments to noteholders and enforcing certain Priority Provisions (defined below) that subordinated payments otherwise payable to LBSF under...

Read More

The new subsection, which took effect in February, creates a more streamlined and less expensive Chapter 11 reorganization path for small business debtors. Subchapter V appears to be popular. According to the American Bankruptcy Institute, over 600 cases have been filed since February, including two dozen in North Carolina. Subchapter...

Read More