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Search Results : Bankruptcy/Restructuring

A Statistical Lookback at 2017 for the Eleventh Circuit with a Focus on Bankruptcy Appeals in Florida

January 12, 2018
Ilyse M. Homer  |  Bankruptcy Litigation, Bankruptcy/Restructuring

Ever wonder about bankruptcy appeals; about how long a bankruptcy appeal to the Eleventh Circuit Court of Appeals will take? The answer lies in the Court’s statistical data. The Eleventh Circuit Court of Appeals was established by Congress in 1981 and has jurisdiction over federal cases originating in the southeastern states of Alabama, Florida, and[…]

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The Eleventh Circuit Fundamental-LY Approves of Bar Orders

October 23, 2017
Paul Steven Singerman  |  Bankruptcy Litigation, bankruptcy litigation, Bankruptcy/Restructuring, Business Reorganization, Eleventh Circuit Court of Appeals, Florida Bankruptcy Attorneys, Fundamental Long Term Care; Subject Matter Jurisdiction

On October 19, 2017, the Eleventh Circuit Court of Appeals stated “a bankruptcy court can enjoin any civil action if the outcome could alter the debtor’s rights, liabilities, options, or freedom of action or in any way impacts upon the handling and administration of the bankrupt estate.” In re: Fundamental Long Term Care, No. 16-16462, 2017 WL 46826791 at[…]

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The Life Settlement Industry – Bankruptcy Issues – Part 3

August 22, 2017
Leslie Gern Cloyd  |  Bankruptcy Litigation, Bankruptcy/Restructuring, Business Reorganization, life settlements

This third installment of our series delves into the following issues: (1) Are life settlements viewed as securities under applicable state law?  (2) How can the debtor-in-possession, i.e. the debtor in a Chapter 11 bankruptcy case (“DIP”) or the trustee avoid the life settlements going in to grace and/or lapsing due to insufficient funds to make[…]

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Homecourt Advantage: Pitfalls, Challenges and Opportunities regarding nonparty witness subpoena motion practice in Federal District and Bankruptcy Court

May 4, 2017
Paul A. Avron  |  Bankruptcy/Restructuring

Practitioners Beware: When a client located in the state in which you practice law is served with a subpoena from a federal court located in another state, only the relevant federal court in your state (whether district or bankruptcy court) can adjudicate a motion to quash or otherwise modify the subpoena.  A recent decision from a Colorado bankruptcy[…]

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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.[…]

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The Life Settlement Industry – Bankruptcy Issues - Part 2

March 23, 2017
Leslie Gern Cloyd and Deborah B. Talenfeld  |  Bankruptcy/Restructuring, Business Reorganization, life settlements

This second installment of our series, “The Life Settlement Industry – Bankruptcy Issues”, will address two related issues: (1) What type of interest (if any) does an investor-creditor have in a “life settlement” (i.e., a life insurance policy sold by the original owner to a third party for a value in excess of the policy’s cash surrender value, but less[…]

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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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The Life Settlement Industry – Bankruptcy Issues - Part 1

January 17, 2017
Leslie Gern Cloyd and Deborah B. Talenfeld  |  Bankruptcy Litigation, Bankruptcy/Restructuring, Business Reorganization

A “life settlement” is the sale of a life insurance policy to a third party for a value in excess of the policy's cash surrender value, but less than its death benefit.  The life settlement industry focuses on the purchase and sale of life settlements or fractional interests in life settlements to investors.  These investors may be anyone from[…]

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Ruden: The Story of the First Successful Reorganization of a Law Firm and Lessons Learned

January 11, 2017
Leslie Gern Cloyd  |  Bankruptcy Litigation, Bankruptcy/Restructuring, Business Reorganization

Ruden McClosky, P.A. (“Ruden”), a formerly large and prestigious law firm that was founded in 1959 and at its peak had more than 200 attorneys commenced a bankruptcy case by filing a petition for Chapter 11 relief (“Petition”) in the United States Bankruptcy Court for the Southern District of Florida on November 1, 2011.   The firm was a victim of the[…]

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Foreign Businesses Catering to U.S. Tourists Can Enforce Contract Provisions Determining Where Litigation for Injuries Suffered Overseas Must Be Initiated

January 6, 2017
Paul A. Avron  |  Appellate Litigation, Bankruptcy Litigation, Bankruptcy/Restructuring, Foreign Businesses, Foreign Courts, Forum Section Clauses, U.S. Tourists

According to a new Eleventh Circuit opinion, Feggestad v. Kerzner Int’l Bahamas, Ltd., foreign businesses that employ online purchase or reservation systems to sell goods or services to U.S. customers can enforce so-called “forum selection” clauses—contract clauses that designate the geographic location of the court that will hear disputes arising from[…]

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