Insights on Debtors & Troubled & Distressed Companies

ArentFox Schiff has been recognized with 53 top rankings in the 2023 edition of US News – Best Lawyers® “Best Law Firms.”

On June 21, 2022, President Biden signed the Bankruptcy Threshold Adjustment and Technical Corrections Act into law. 

After years of large retailers and malls struggling prior to the COVID-19 pandemic and the most vulnerable retailers filing for bankruptcy relief in its immediate wake in early 2020, the US economy rebounded strongly with the aid of government assistance and low interest rates.

WASHINGTON — Fifty Arent Fox LLP attorneys have been rated as leaders in their profession by The Best Lawyers in America 2020.

This analysis will help retailers, creditors, vendors, and opportunistic investors who are poised to take advantage of the recent trend in bankruptcy cases.

In effect, the Third Circuit’s decision provides additional protection to trade vendors that conduct business with distressed debtors. 

In this episode of Fashion Counsel, Anthony Lupo and Aram Ordubegian discuss the different routes a struggling retailer can take when facing bankruptcy.

Chief Judge Leonard P. Stark of the District Court for the District of Delaware reversed and remanded the decision of the Bankruptcy Court which approved a Bankruptcy Rule 9019 settlement that Judge Stark concluded had been inadequately noticed under the circumstances.

Sovereign Assets Ltd. (SAL), a real estate firm based in Israel, was unable to service its debt obligations and was placed into liquidation proceedings in Israel. Two administrators, who had been appointed to liquidate the company in Israel, commenced Chapter 15 proceeding.

The Third Circuit agreed with the Bankruptcy Courts finding that the proposed releases were not adequately disclosed to the bondholders as required by Bankruptcy Rule 3016(c), and therefore would not be approved.

The crux of the issue the District Court considered was the interplay between sections 363(f) and 365(h) of the Bankruptcy Code.

Bankruptcy partner Aram Ordubegian was quoted in the Crescenta Valley Weekly on the economic impact the Americans with Disabilities Act (ADA) and other federal and state regulations will have on small businesses in the region.

On June 26th, Arent Fox managing partner Andrew Silfen will be a moderator for the panel entitled, “Views on the Bench” at the 11th Annual Philadelphia Credit & Restructuring Summit 2018.