Tag Archives: Bankruptcy

Supreme Court Bars Structured Dismissals of Bankruptcy Cases That Violate the Code’s Priority Distribution Scheme – Could it Affect Your Creditor Position?

On March 22, 2017 the Supreme Court issued its long-awaited ruling regarding the legality of structured dismissals of Chapter 11 bankruptcy cases that would make final distributions of estate assets to creditors in a manner that deviates from the Bankruptcy Code’s statutory priority distribution scheme.1 In Czyzewski v. Jevic Holding Corp., the Court held that such … Continue reading this entry

How One Struggling Auto Company Used Chapter 15 to Protect its U.S. Assets

Although its Israel-based electric car company had already filed bankruptcy in its home country, Better Place, Inc., the U.S. parent of the foreign debtor, filed for protection under chapter 15 of the Bankruptcy Code with the United States Bankruptcy Court for the District of Delaware earlier this summer, in the hopes of obtaining protection of … Continue reading this entry

Protections When Supplying to a Troubled Customer

Automotive sales in North America continue to climb, and many suppliers are prospering. However, there are some companies who are struggling and who may face bankruptcy. We have seen companies such as A123 Systems and certain subsidiaries of Revstone Industries recently file for protection under the Bankruptcy Code. How can a supplier to a troubled … Continue reading this entry

Potential Impact of Treasury's Proposed Sale of GM Stock on Old GM’s Creditors

Did you or your company have an allowed claim in the General Motors bankruptcy case? If so, have you sold your allowed claim or the stock and warrants you received on account of your claim? If not, the U.S. Department of Treasury’s recent announced that it is planning to sell its remaining stake in new General Motors (“New GM”) in the … Continue reading this entry