Overheard in Bankruptcy

The recent decision of the Ninth Circuit in In re Hawkeye Entertainment, LLC contains a few important takeaways with respect to the treatment of executory contracts and unexpired leases under section 365 of the Bankruptcy Code. First, for purposes of section 365(b)(1), the Ninth Circuit has established that a default does not need to be a

Cryptocurrency had a market cap of $10 million in early 2011; it rocketed to nearly $3 trillion in February 2022 and is now down to about $1.1 trillion today. Some of this year’s more notable gyrations in crypto’s fall from grace include the following: 

  • In May there was a decline of billions of dollars in value related

The major cryptocurrencies have experienced significant declines in 2022; with the crypto market shedding $2 trillion of its peak $3 trillion market capitalization in November 2021. Amid this “crypto winter,” Terra Luna and its algorithmic stablecoin collapsed, triggering a domino effect of losses and illiquidity throughout the crypto industry. The hedge fund Three Arrows Capital

Bankruptcy – and the restructuring process – are challenging and complex endeavors, requiring a variety of tactics and resolution mechanisms. For the parties involved, financial expectations can be at odds with the reality of the situation, and knowing when to compromise and how best to proceed for your organization’s specific needs is essential. Due to

Greenberg Glusker’s Bankruptcy, Reorganization & Capital Recovery Group is excited to share some announcements with our clients and colleagues. Firm News: We’re pleased to announce that Keith Patrick Banner was elevated to partner effective January 1, 2022. Keith focuses on business insolvency and distressed transactions with experience in a variety of industries, including retail, entertainment,

What do the Dodgers, American Apparel, Rubio’s Fish Tacos, California Pizza Kitchen, MGM Studios, and Pacific Sunwear have in common? Each is an iconic Southern California brand. But that’s not all they have in common. According to statistics, over the last 20 years 143 California based companies having over $32 billion in assets, and over 211,000 employees have

I recently had the pleasure of working with my colleagues Benny Roshan and Jillian Berk on an appeal before the Ninth Circuit Bankruptcy Appellate Panel (B.A.P), which tested the ever-evolving intersection between bankruptcy law and probate and trust law.  In re Rens, __ B.R. __ , No. AP 19-90067-LA, 2021 WL 5049829 (B.A.P. 9th Cir.

After agreeing to settle some 2,600 separate lawsuits over the company’s involvement in fostering the nation’s opioid crisis, Stamford-based Purdue Pharma, the maker of OxyContin, filed for bankruptcy protection in September 2019 — in White Plains, New York, of all places. After an intensely litigated bankruptcy case over a two-year period, Judge Robert D. Drain recently

Current U.S. bankruptcy law gives companies wide discretion to file a bankruptcy in the venue of their choice. A company can file for bankruptcy in any federal district where it has its “domicile, residence, principal place of business in the United States, or principal assets in the United States” or where an affiliate of the