News & Publications

Genesis Global's Chapter 11 filing on January 20th was little surprise to those closely following the cryptocurrency markets and after its decision to "pause" withdrawals in mid-November. Digital Currency Group, Inc. ("DCG"), the parent of Genesis Global Holdco LLC ("Genesis") and its largest borrower, is not part of the bankruptcy case and instead may find itself a defendant in an adversary proceeding. The company reported that it is conducting an investigation that will examine the circumstances surrounding approximately [...]

TAKEAWAYS Many real estate investment vehicles are suffering from an "equity gap" in their capital structure due to inflation, higher interest rates, economic uncertainties and changing real estate usage. As a result, many properties with solid fundamentals are no longer financeable without an infusion of equity or equity-flavored debt. Lenders are much less willing to "extend and pretend" and many existing owners do not want to sell based on current valuations but will accept a [...]

The latest amendments to the Federal Rules of Bankruptcy Procedure (the "Bankruptcy Rules") took effect on December 1, 2022. This collection of modifications may be broadly divided into two categories: (i) amendments and a new rule promulgated to account for the Small Business Reorganization Act of 2019 (the "SBRA"), and (ii) amendments clarifying or consolidating non-SBRA specific Bankruptcy Rules. SBRA-Related Amendments The enactment of the SBRA in 2020 created a subchapter V, within chapter 11, [...]