Bankruptcy

Mar 10, 2023

Bankruptcy – Asbestos – Insurance & Trust Fund – Insurer’s Standing

The bankruptcy-debtor formerly produced asbestos-containing products. Its commercial general liability insurer seeks relief from the debtor’s bankruptcy plan because, under the plan, claims under the insurer’s policy do not get […]

Jun 20, 2022

Commercial bankruptcy filings spike 34%

By Jason Thomas [email protected] There were 330 commercial chapter 11 filings registered in May 2022, an increase of 34% from the 246 filings in May 2021, according to data provided […]

May 19, 2021

N.C.’s bankruptcy quirk triggers national debate

A little-known quirk of bankruptcy law in North Carolina is garnering national attention as courts across the country debate whether the different treatment afforded debtors in the state’s bankruptcy courts violates […]

Dec 4, 2020

Bankruptcies fell during COVID–they’ll surge during the recovery

The stilling of the American economy in response to COVID-19 might have been expected to drive legions of businesses and families into bankruptcy; a vaccine-aided economic recovery in 2021 […]

Aug 7, 2020

Avoiding bankruptcy through neutral facilitation

By Joan N. Feeney Although relief under Chapter 11 of the nation’s bankruptcy laws can have consummate benefits for a business in financial trouble, evaluating the advantages and disadvantages of […]

May 13, 2020

Bankruptcies trickle in for now, but a flood is waiting

When two major national retailers, J. Crew and Neiman Marcus, filed for Chapter 11 bankruptcy in the first week of May, the news reports read like obituaries, with the novel […]

Nov 7, 2019

Bankruptcy reform offers relief to small businesses

Small businesses that are struggling to reorganize their debts may find it easier to get a fresh start thanks to changes to federal bankruptcy laws taking effect next year. The […]

Nov 1, 2018

Illness, bad luck fuels rise in bankruptcy for seniors

While it may be said that the greatest wealth is to live content with little, this idea may be small consolation to the growing population of elderly Americans filing for personal bankruptcy.

Aug 7, 2018

Corporate – Directors’ Liability – Unsecured Creditor – Bankruptcy

The plaintiff-supplier makes no allegation that it was treated any differently than other unsecured creditors of the now-bankrupt corporation. Rather, plaintiff alleges that the defendant-directors preferentially paid off the corporation’s […]

Aug 2, 2018

County left holding bag of VCRs and fax machines

North Carolina-based Creative Recycling Systems recently played a role in a lawsuit brought over antiquated computer monitors and cathode ray tube television sets. According to an Aiken Standard article, the […]

Jun 5, 2018

Contract – Airplane Ownership – Fractional Shares – Component Parts – Bankruptcy

WITHDRAWN The parties owned fractional shares of different aircraft pursuant to a program formerly operated by the now-bankrupt Avantair, Inc. Since the governing documents allowed Avantair to move engines from […]

May 30, 2018

Bankruptcy – Local bankruptcy court rule held invalid

The Eastern District of Virginia’s Local Bankruptcy Rule 3070-1(C), which allows for dismissal without hearing, conflicts with the requirements of 11 U.S.C. § 1307. Background In January 2017, the Eastern […]