http://www.haynesboone.com/ Haynes and Boone alerts for the Bankruptcy and Business Restructuring Practice en-us Fri, 24 May 2013 08:55:49 GMT Fri, 24 May 2013 08:55:49 GMT On March 26, 2013, in the case of Teed v. Thomas & Betts Power Solutions, L.L.C., the Seventh Circuit, in an opinion written by Judge Posner, joined at least one other circuit court and a multitude of district courts across the country in extending the federal common law standard for evaluating successor liability to suits brought under the Federal Labor Standards Act (“FLSA”). http://www.haynesboone.com/weathering-seventh-circuit-expands-Application-of-Federal-Standard-for-FLSA Publication 59454767-7258-49b6-b28c-305d7149bf96 Thu, 11 Apr 2013 00:00:00 GMT Bankruptcy Code § 1129(a)(10) provides that in order for a plan proponent to “cram down” - i.e., force acceptance of - a plan of reorganization on a dissenting class of creditors, at least one impaired class of creditors must vote in favor of the plan. http://www.haynesboone.com/Weathering-Fifth-Circuit-Permits-Artificial-Impairment Publication 86ab25fc-e1ef-4fc0-9669-74eb727f0825 Thu, 07 Mar 2013 00:00:00 GMT On January 31, 2013, the Bankruptcy Court for the District of Delaware in In re Indianapolis Downs, LLC declined to designate the votes of parties to a post-petition restructuring support agreement (i.e., a lock-up agreement), instead confirming the Debtors’ Modified Second Amended Joint Plan of Reorganization (the “Plan”) based on the votes of such parties. http://www.haynesboone.com/Weathering-Post-Petition-Restructuring-Support-Agreement Publication 8552199c-5969-4742-880d-d2a0a7e89bb8 Wed, 13 Feb 2013 00:00:00 GMT On January 4, 2013, the United States District Court for the Northern District of Illinois, Eastern Division (the “District Court”) issued a Memorandum Opinion and Order that seems demonstrably at odds with the majority of cases analyzing the § 546(e) safe harbor provision. http://www.haynesboone.com/Weathering-Grede-v-FCStone Publication 53a4573b-7409-4b63-8519-23a786bdcb2e Thu, 24 Jan 2013 00:00:00 GMT On November 28, 2012, the United States Court of Appeals for the Fifth Circuit published an opinion affirming the bankruptcy court’s ruling that the Mexican Plan of Reorganization (the “Concurso Plan”) of the Mexican glass-manufacturing company, Vitro, S.A.B. de C.V., approved by the Federal District Court in Mexico, should not be enforced under Chapter 15 of United States Bankruptcy Code The United States Bankruptcy Court for the Northern District of Texas (the “Bankruptcy Court”) concluded that... http://www.haynesboone.com/vitros-concurso-plan Publication 979bd7b7-8315-4462-83a3-028f101a065d Wed, 28 Nov 2012 00:00:00 GMT The Bankruptcy Code provides a number of “safe harbors” for forward contracts and other derivatives. These provisions exempt derivatives from a number of Bankruptcy Code provisions, including portions of the automatic stay, restrictions on terminating executory contracts, and the method for calculating rejection damages. http://www.haynesboone.com/Weathering-Fifth-Circuit-Safe-Harbor Publication 1d34387f-8e57-434c-9968-adf301b88d92 Tue, 14 Aug 2012 00:00:00 GMT On July 9, 2012, the Seventh Circuit decided in Sunbeam that the rejection of a trademark license by a bankrupt trademark licensor does not deprive the trademark licensee of its right to continue to use the trademark, and disagreed with the 1985 Fourth Circuit decision in Lubrizol that held to the contrary. http://www.haynesboone.com/Weathering-the-Storm-Sunbeam Publication 8af7625e-67d0-47ec-94e5-482d9a00a38f Tue, 17 Jul 2012 00:00:00 GMT On June 13, 2012, the United States Bankruptcy Court for the Northern District of Texas (the “Bankruptcy Court”) published an opinion ruling on whether the Mexican Plan of Reorganization (the “Concurso Plan”) of the Mexican glass-manufacturing company, Vitro, S.A.B. de C.V., approved by the Federal District Court in Mexico, should be enforced under Chapter 15 of United States Bankruptcy Code. http://www.haynesboone.com/Weathering-Vitro-Opinion Publication 4dbea531-7ae1-42f2-af96-a2609e72815d Wed, 20 Jun 2012 00:00:00 GMT Recent technological innovations and advancements in drilling and completion techniques have led to an unprecedented expansion of natural gas production by large and midsize exploration and production companies. This expansion created competition for wild cat acreage as well as producing properties, putting lessors and co-owners (the “non-operators”) at a distinct advantage in negotiating the terms of leases, farmout agreements and joint operating agreements (“JOAs”). http://www.haynesboone.com/Non-Operator-Rights Publication c7e965eb-d6de-4bc3-8ff6-f4b2bb81ef02 Wed, 13 Jun 2012 00:00:00 GMT In what it described as "an easy decision," the U.S. Supreme Court issued its eagerly anticipated decision in RadLAX Gateway Hotel, LLC et al. v. Amalgamated Bank on May 29, 2012. The high court's 8-0 ruling, delivered by Justice Scalia, held that a Chapter 11 bankruptcy cramdown plan providing for the sale of a secured creditor’s collateral free and clear of the secured creditor's lien may not use Bankruptcy Code § 1129(b)(2)(A)(iii) to deny the secured creditor the right to "credit bid" on its own collateral. http://www.haynesboone.com/Weathering-RadLAX-Supreme-Court-Decision Publication b9458af0-8da0-4b3d-9d6e-31fc7cf97fd5 Thu, 31 May 2012 00:00:00 GMT Buying natural gas assets from financially distressed companies is an inherently risky proposition. A means to deal with these issues and protect the acquisition from challenge is to acquire the natural gas assets through a structured bankruptcy transaction. http://www.haynesboone.com/Aquiring-Assets-through-Bankruptcy Publication 6cdbf779-ef79-43f9-8849-021581b7e33f Tue, 29 May 2012 00:00:00 GMT