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Search Results : Bankruptcy Code

Financial Institution Bankruptcy Act of 2017 – Big Changes for Big Banks

April 17, 2017
Brian G. Rich  |  Bankruptcy Code, Bankruptcy/Restructuring, Business Reorganization

When the real estate market and financial markets tumbled during 2007-2008, the fallout was felt by financial institutions from large multi-billion dollar banks to small Community Banks.  As these banks struggled to stay alive, a trend emerged for bank holding companies to market and sell a distressed bank through Section 363 of the Bankruptcy Code.

Don't Rob Peter to Pay Paul

February 23, 2017
Lewis M. Killian Jr.  |  Bankruptcy Code, Bankruptcy/Restructuring, Business Reorganization, Director/Officer Litigation, Labor & Employment

When businesses experience financial difficulties, it is very common for them to “rob Peter to pay Paul.” Occasionally, this takes the form of using taxes that have been withheld from employees’ paychecks to pay expenses instead of remitting those funds to the IRS.  Of course, it is well known that even though such obligations are corporate, individuals

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