Expert Analysis

• NYC Office Tower Ch. 11 Shines Light On Blocking Provisions

  

  PMW Management's Chapter 11 filing, which recently received extra time to submit a restructuring plan, highlights courts' increasing skepticism of bankruptcy blocking provisions and favoritism toward leaving bankruptcy restructuring plans in the hands of the debtor, say Jeff Marwil and Ashley Weringa at Proskauer.

• Storm Clouds Loom Ahead For Real Estate Investors

  

  With a wave of negative economic indicators mounting on the horizon, real estate investors facing financial distress should proactively take steps to mitigate the risk of bankruptcy, says William Lobel at Distressed Capital Resources.

• Bankruptcy Case Is Reminder On Collateral Ownership Issue

  

  The recent Northern District of Oklahoma bankruptcy ruling in Rudick shows why it is critical that a practitioner understands who owns its client's proposed collateral, especially if the collateral is material to the underwriting and credit profile of a loan, say attorneys at Troutman Pepper.

• How To Avoid Construction Lien Traps In Bankruptcy Filings

  

  The Ninth Circuit Bankruptcy Appellate Panel’s decision in 450 S. Western Ave. serves as a cautionary tale on the risks of a contractor agreeing not to foreclose a lien in exchange for the owner agreeing not to challenge the validity of the lien in bankruptcy filings, and highlights how contractors can protect their liens, says Blake Robinson at Davis Wright.

• Opinion

  Now's The Time To Address Archaic Law School Curricula

  

  With law school enrollments jumping significantly ahead of a potential recession and more students graduating than the market can absorb, law schools should turn to creative solutions to teach students how to negotiate, work with clients, specialize and use technology to practice their craft more efficiently, says University of Colorado adjunct professor Jason Mendelson.

• Sears Bankruptcy Case Shows Modification Disclosure Is Key

  

  The recent New York federal court decision in Transform Holdco v. Sears Holdings highlights the importance of seeking approval of any material modifications to a purchase agreement in a bankruptcy, as historical setting can be a factor if any dispute arises later between a debtor and a buyer, say Frank Grese and Reginald Sainvil at Baker McKenzie.

• Lessons From Lawyer Fee-Sharing Agreements Gone Wrong

  

  The recent fee-sharing dispute between Edelson and Girardi Keese is a reminder that lawyers who do not strictly follow the applicable rules may risk a disciplinary complaint, lose their share of the fee, or wind up in costly litigation with co-counsel, says David Grossbaum at Hinshaw.

• LeClairRyan Bankruptcy Highlights Pass-Through Tax Issue

  

  A Virginia bankruptcy court's recent ruling in the case of defunct law firm LeClairRyan shows there may be serious tax consequences for pass-through entity partners who give up their ownership interest without following operating agreement exit provisions and updating bankruptcy court filings, say Edward Schnitzer and Hannah Travaglini at Montgomery McCracken.

• 9th Circ. Ruling Offers Guidance On Automatic Stay Violations

  

  The Ninth Circuit Bankruptcy Appellate Panel’s opinion in Censo v. Newrez clarifies the nebulous standard for automatic stay violations, and provides useful guidance for practitioners to consider in determining whether a creditor's defensive action taken in pending litigation counts as a violation, say Keith Owens and Zach Williams at Fox Rothschild.

• Opinion

  Hold Alabama And North Carolina Accountable On Ch. 11 Fees

  

  As highlighted in the U.S. Supreme Court’s recent Siegel v. Fitzgerald case, Chapter 11 debtors in Alabama and North Carolina are paying lower quarterly fees than those in the other 48 states, an unconstitutional reality creating harms and costs that must be addressed by the Fourth Circuit, says Donald Swanson at Koley Jessen.

• 8 Steps To Creating A Legal Ops Technology Road Map

  

  Legal departments struggling to find and implement the right technologies for their operations should consider creating a road map that summarizes their approach to technology changes, provides clearly defined metrics for success, and serves as the single source of truth for stakeholders, says Melanie Shafer at SimpleLegal.

• Awaiting Critical Bankruptcy Decision For Surety Industry

  

  The recent oral argument in Argonaut Insurance v. Falcon V offers the Fifth Circuit an opportunity to create a rule for multilateral contracts in bankruptcy and exposed the common misconception that a surety assumes the risk of the principal's nonperformance when it issues a bond, say Lisa Tancredi at Womble Bond and Laura Murphy at Travelers.

• The Importance Of Data And Data Analysis In Litigation

  

  Understanding, analyzing and effectively presenting large data sets is an increasingly important skill in litigation as it allows plaintiffs to dramatically scale up the scope of cases and is often critical to defeating motions to dismiss and motions for summary judgment, says David Burnett at Motley Rice.

• Navigating Section 363 As A Decentralized Autonomous Org

  

  Decentralized autonomous organizations are all the rage, raising questions on the advantages and disadvantages of coupling them with the Bankruptcy Code’s Section 363 sale process to acquire assets free and clear under the supervision of a bankruptcy court, say attorneys at O’Melveny.

• Takeaways From 1st Circ.'s Tribal Sovereign Immunity Ruling

  

  The First Circuit's recent decision in Coughlin v. Lac du Flambeau, finding that the U.S. Bankruptcy Code unequivocally strips tribes of their sovereign immunity, disregards extensive case law to the contrary and may make it easier for litigants to pursue claims against tribes under laws with similar immunity waivers, say attorneys at Brownstein Hyatt.